Advisory Services

Today all the businesses are continually challenged to manage the impact of multiple and ever-changing tax jurisdictions. The United Nations, the WTO and the developed nations of the world have all propagated free trade across all geographical barriers and the enhancement of economic development across all frontiers. The joint policy statements made by the heads of the Government of India and the various foreign countries encourage and emphasize the need for transparent cross border transactions. For this purpose the importance of double tax avoidance agreements (DTAA) has become utmost to prevent and mitigate the hardship that can be faced by individuals and companies alike by having to pay taxes in more than one jurisdiction globally. Cross border transactions help in strengthening and enlarging the scope of financial and non-financial activities leading to the achievement of targets of overall growth and prosperity.

Our endeavour is to advise our clients through all the stages of the cross border transactions to mitigate the hardship of double taxation by advising on the incidence of tax based on the nature of the income and expenditure incurred keeping as per the provisions of the Indian Tax laws and the provisions of the double tax avoidance agreements, withholding tax issues and the related compliances.

Corporate taxation is an essential aspect of doing business in India and its importance cannot be undermined. The Indian government has gradually reduced corporate tax rates. The emphasis is now shifting towards enforcing compliance and expanding the tax base with e-governance and digitisation gaining importance. Taxation is also used as a tool to promote investments in identified industry sectors, thereby spurring overall economic growth. As such, understanding the impact of developments in tax and regulatory aspects and strategically using them to the benefit of Indian business activities is becoming increasingly important.

Sound business decisions need to be backed by the right tax advice. Today's dynamic environment has led to fierce competition. Corporate entities have realized the importance of taxation and its associated cost with efforts to reduce the tax incidence to enable them to provide the much-needed edge over competitors and meet challenges in a dynamic business environment.

Corporate tax consultancy, provided by Y K Shukla & Co. forms an integral part of the commercially viable business decisions minimizing the cost burden. We adopt a "result oriented approach" which is flexible and emphasizes delivery and value.

India's dynamic environment has led to fierce competition. Not only corporate entities but individuals, HUFs, Partnership Firms, LLPs, etc have realized the importance of taxation and its associated cost with efforts to reduce the tax incidence to enable them to provide the much-needed edge over competitors and meet challenges in a dynamic business environment.

Tax consultancy, provided by Y K Shukla & Co. forms an integral part of the commercially viable business decisions minimizing the cost burden. We adopt a "result oriented approach" which is flexible and emphasizes delivery and value as per the client's need.

The tax authorities keep abreast with the growing complexities and sophistication of business transactions and have increased the compliance burden with the advent of technological advancements in the last few years. In order to help our clients keep themselves intune with the frequently changing compliances our team offers solutions in an efficient use of technology in a timely and effective manner.

Indirect taxes pervade every area of a company’s business. Their impact on material and product costs, cash flow, profitability and, ultimately, on shareholder value is an important element to stay ahead in competition.

Our indirect tax professionals with their wide-ranging experience and in-depth knowledge help clients in all of these aspects. Y K Shukla & Company provides advisory services in respect of the Goods and Services Tax (GST) regime and Foreign Trade Policy-related matters. This includes services in relation to setting up a green field venture including review of tax assumptions and analysis of tax exemptions/concessions which could be relevant for the project and tax modelling involving analysis of tax costs and credits impacting the business models.

Further, an indirect tax diagnostic review or health check is a broad-based package offered to our clients. This review helps identify areas of potential tax exposure and tap opportunities for tax savings.

Modern day business faces myriad complex accounting issues related to acquisitions, consolidations, debt/ equity offerings, restatements, treasury, hedging and more. These are major challenges and may disrupt an organisation's day-to-day operations.

We help companies maximise value during these moments of exceptional change. With a network of trusted advisors, we support companies with their accounting, financial reporting and valuation needs. Our practitioners combine accounting, valuation and tax expertise to help our clients preserve the value of their business. We tailor solutions to the client's needs, allowing clients to concentrate on business operations leaving the worries of accounting and compliances on our trusted team.

Businesses today are evolving organically and in-organically through Mergers, De-mergers, Acquisitions, Divestures, Sales, etc achieved through both local and transnational capital flows.

Our approach involves competitive preparedness for a smooth transition from an era of regulation and protection to the free trade globalized market of the next millennium, based on a credible track record, to strengthen and nurture core capabilities with a view to attain and sustain a leadership position in the market, aim at specialization, which may involve getting out of investments that are non-core and concentrating on the core competencies of the corporate and allied group companies, restructuring to acquire resources and capabilities required to compete effectively in the revamped dynamic economic environment, a recognition of the fact that only a few players dominate each segment of the market and therefore to restructure/reconstruct a business to be in line with the global trends, restructuring to facilitate joint ventures and alliances.

The tax implication of such strategic business decisions for growth, expansion etc. has to be carefully studied and an efficacious model evolved so that optimum tax benefits accrue to one and all. Our team would review the tax incidence pre and post the strategic business decision as one of the important determinants of the value of the deal. In the exercise of restructuring of companies under the same group, a tax consideration is one of the ‘make or break issues.

Despite the radical changes both the local and global markets have gone through over the last decades, family companies still dominate the global economy: Not only are 80 percent of companies worldwide family-owned, they are also to a large extent still managed by members of the founding family. Not surprisingly, India is no exception.

The fast-changing business backdrop has also made succession planning - traditionally a difficult issue for family businesses - more crucial than ever. The liberalization of the Indian economy has unleashed globally competitive forces that are likely to reshape the business landscape. Those Indian family run and managed enterprises that have been extremely successful in the past will do well to recognize the importance of market forces and proactively implement action plans to ensure the future survival and growth of their organizations. We at Y K Shukla & Co. & Co. understand this crucial need of traditional family owned businesses for succession planning ensuring tax efficiency.

Business Valuation is a complex, subjective and at times a hotly debated issue. Undertaking valuation assignments require an in-depth understanding of internal and external factors affecting business as also a through knowledge of the legal and regulatory environment in which the business is operating. For a valuation report to be well accepted, one need to thoroughly analyse financial, non financial and other data. This requires highly experienced, dedicated and highly motivated professionals.

Until the introduction of the Companies Act, 2013 ("Companies Act"), the valuation of shares, assets, net worth of companies etc. was conducted by chartered accountants or as prescribed by other laws such as the Foreign Exchange Management Act, 1999 and the regulations made thereunder or the Income Tax Act, 1961. There was no provision in the earlier company law that provided for valuation or specified the persons who could conduct valuation of companies, shares etc.

The concept of a "registered valuer" under Indian law was introduced for the first time vide Section 247 of Chapter VXII of the Indian Companies Act for matters requiring valuation under the said act.

Section 247 of the Companies Act provides that "where a valuation is required to be made in respect of any property, stocks, shares, debentures, securities or goodwill or any other asset or net worth of a company or its liabilities under the provisions of this Act, it shall be valued by a person having such qualifications and experience and registered as a valuer in such manner and on such terms and conditions as maybe prescribed and appointed by the audit committee or in its absence by the Board of Directors of that company".

Our Offerings:

• ESOP accounting- Intrinsic Value and Black Scholes
• ESOP for Taxation
• Fairness Opinion
• Share Purchase / Investment/Fund Raising
• Good will & Asset Impairment testing (US GAAP/ IFRS/Indian GAAP)
• Valuations for Family settlements
• Brand valuation
• Intellectual property valuation
• Valuation under Companies Act 2013
• Valuation under Income Tax Act 1961