Our Corporate tax division comprises of personnel who possess several years of experience and expertise in tax consultancy and management.

We endeavour to identify potential threats & opportunities and advise on appropriate strategies to mitigate exposure and optimize tax incidence on our clients. We strive to develop a detailed understanding of our clients’ business ecosystem and industry sector to offer insights on sectoral developments and assist our clients to develop effective strategies and business models. We help businesses to maximize value by identifying and implementing comprehensive strategies for corporate, international and local taxes. This helps ensure that the cascading effect of all taxes together is minimal on our clients.

The basis of expertise is advisory and successful implementation at cross section of industries which have stood the test of successful acceptance at various assessment and judicial levels.

• Corporate Taxation Advisory Services: Advising Companies / Corporations on their Income Tax matters, including Foreign taxation matters on Indian corporations.
• Tax Management Services: successful tax compliance.
• Tax Appeals: Drafting and representing tax appeals before various appellate authorities like Commissioners/ Appellate Tribunal.
• Tax Planning: Advising clients on structuring tax-efficient business planning, including restructuring of business eg. Amalgamations/ merger etc.
• Services relating to Foreign Collaboration Agreements, NRIs taxation, Double Tax Avoidance Agreements Reliefs, Transfer Pricing etc.
• Liaising with Senior Tax Counsels for obtaining legal opinions, conducting tax litigations i.e. appeal court references and writ petitions etc.
• Advice on execution of turnkey projects / EPC Contracts involving planning at the pre-bidding stage, structuring of contracts, identification of tax optimization opportunities, devising the most tax efficient models and comprehensive range of compliance services subsequent to the bidding stage, etc
• Conducting anti-profiteering studies and assistance in relation to anti-profiteering certification, assistance in relation to ITC – 02 certification for transfer of credit in case of sale, merger, de-merger, amalgamation etc of entity
• End to end assistance in relation to GST enquiries and assessments, including representation before the Tax Authorities
• Preparation of application for obtaining of advance ruling and representation before the Authority for Advance Ruling/ Appellate Authority of Advance Ruling
• Drafting replies to show-cause notices and appeals, including representation before Adjudication and Appellate Fora
• Complete outsourcing of GST compliances on presence across India basis such as obtaining registrations, periodic and annual compliances, preparing reconciliations, analysing eligibility of input tax credits etc
• Assistance in relation to yearly GST Audits and credit reconciliations
• Drafting, filing and processing of refund claims such as refund of unutilized credits in case of export of goods/ services, refunds in case of inverted duty structure, refund in case of export with payment of tax etc
• Conducting trainings for clients and setting up GST help desks at client locations

Risk management is a big concern for both audit committees and senior management in corporate internally. Internal audit is an independent management function, which involves a continuous and critical appraisal of the functioning of an entity with a view to suggest improvements thereto and add value to and strengthen the overall governance mechanism of the entity, including the entity’s strategic risk management and internal control system.

Internal Audit helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. With commitment to integrity and accountability, internal auditing provides value to senior management as an objective source of independent advice.

We provide accounting and auditing guidance which constitutes valuable insights for audit committees, chief financial officers, controllers, financial reporting groups, and internal audit directors.

Management support for Internal Financial Controls testing and development of standard operating procedures
Internal financial controls include policies and procedures adopted by the company for ensuring the orderly and efficient conduct of its business, including regulatory compliance and prevention and detection of frauds and errors, thereby covering not only the controls over reliable reporting of financial statements (more commonly known as Internal Financial Controls over Financial Reporting (“IFCFR”), but also include all other controls pervasive across the business. The Companies Act, 2013 (the “2013 Act”) has imposed specific responsibilities on the Board of Directors (“Board”) towards the company’s internal financial controls and, inter alia, requires the Board to state that they have laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively

By placing more accountability and responsibility on the Board and Audit Committee with respect to internal financial controls, the 2013 Act attempted to align the corporate governance and financial reporting standards with global best practices. With adequate and effective internal financial controls, some of the benefits that the companies are experiencing include:

• Senior Management Accountability
• Improved controls over financial reporting process
• Improved investor confidence in entity’s operations and financial reporting process
• Promotes culture of openness and transparency within the entity
• Trickling down of accountability to operational management
• Improvements in Board, Audit Committee and senior management engagement in financial reporting and financial controls
• More accurate, reliable financial statements
• Making audits more comprehensive

Stock and fixed assets audits
Stock and fixed assets Audit is also an area of specialization and core competence for WISE&MATURE. Stocks and physical assets such as raw materials are critical real assets and needs systematized management. As a large number of companies are operating across the borders through multiple locations and channel partners, making asset management a challenge. We aim at delivering focused services to companies to keep their physical assets check intact.

STATUTORY AUDIT

Statutory Audit, Tax Audit, Review of Financial statements and GST Audit
While many of the rules of business have changed, the fundamentals haven’t. Meeting investor expectations begins with the completeness, accuracy and fair presentation of information in your financial statements and disclosures. The audit is key to sustaining confidence in both your company and the financial system at large. It must keep pace with a fast-evolving corporate reporting environment – one characterized by investor skepticism and the 24/7 scrutiny of corporate information, including non-financial information. Auditing thus involves much more than just the legal obligation of certifying annual accounts. Whether annual and consolidated accounts or special audit services and certifications, having the objective judgment of external auditors makes information more reliable for all decision makers.

Our professionals at WISE & MATURE have many years’ experience, competence, industry knowledge and integrity. Our audit approach, is tailored to suit the size and nature of any organization and draws upon our extensive knowledge and talent, understanding of laws, regulations and legislation. We approach your audit with a deep and broad understanding of your business, the industry in which you operate, and the latest regulatory standards, helping you deliver value confidently through transparency of your reporting to stakeholders.