Latest Updates

Audit Assurance

Capacity Building

QUICK REACH

• Big Hand to Naxalism by the Government

  

• Limited Liability Partnership (LLP) Act of 2008 has been enacted to allow formation of a new legal entity called "Limited Liability Partnership" (LLP).

  

• SCOPE OF PEER REVIEW: The peer review process is directed at the attestation services of a practice unit with focus on

  

• GoI has initiated a National Pension Scheme (NPS)

  

• INSTITUTIONAL UPDATES: In a petition filed before Mumbai HC, a petitioner has sought to have a list of properties mortgaged with the banks.

  

• Explaining AS11: Companies Act has modified AS11 by inserting paragraph 46 in AS!!, which allows companies to postpone on capital account till 2011.

  

• Disinflation Vs Deflation:The terms disinflation and deflation are in common use these days, often interchangeably. Here is some clarity on distinctiveness between the two.

  

• New Definition of Charity and its Implications

  

• PM's interview with Financial Times

  

• Amnesty scheme for NGOs under Foregin Contribution Regulation Act (FCRA)

  

• Weighted deduction under Income Tax Act.

  

• Change in Tax Deduction at Source Rates

  

• Banking Regulation (Amendment) Ordinance, 2007

  

• Auto Mission Plan Seeks Tax Holidays To Attract Mega Investments

  

• Don’t Withhold Income Tax Refunds Needlessly: HC

  

The main objective of Audit assurance is to enhance the level of                 confidence of financial statements among the persons not                 connected with the management. SMA’s                 approach for Audit is based on risk-analysis, evaluating various                 conditions including the maturity of systems being practised in                 an organisation. Another feature that SMA follows is to                 recognise the needs of different stakeholders.                  click here for details                

SMA’s process of developing capacity in financial management is a holistic one, considering both the systems and the people who man the systems. Systems form the framework through which the people deliver. Hence it is important to find a suitable balance between the two. Often organizations while planning the capacity building consider the two in isolation, without considering the compatibility of each other.  click here for details

• FCRA (the NGOs factor)

• Foreign Contribution (Regulation ) Act, 1976

• FAQs on NRI investment in India

• FAQs on Indian Income Tax Law

• Delhi Value Added Tax Act'2004 (DVAT)

• FAQs related RBI

• FAQs on Laws related to NGOs

• FAQs on Business Investment Procedures in India

• FAQs on Trusts and related Income Tax Issues

• Investment in Real Estate by NRIs/Foreigners

• Tax Planning Tool

• Quick way of making foreign direct investments in India.

• Highlights of the proposed FCMC Bill (2005)  seeking to replace FCRA act 1976

• AAR Rulings

• Are you adequately insured?

• Insurance Provides Nothing but a Peace of Mind

• Understanding Auto Insurance

• Pure Insurance vis a vis with investment

• New Jeevam Dhara

• Why purchase an insurance policy?

• Insurance Terminology explained

• Changes in Export Import policies

• External Debt

• Gold deposit scheme opens

DEBATES

RESEARCH & ANALYSIS

Taxation Planning & Advise

One                 of the weak areas in country is lack of research studies in                 financial management and related areas. SMA has undertaken a                 number of projects involving research in such areas particularly                 in the Public-sector. Studies have been undertaken of various                 Centrally Sponsored Schemes to understand the framework, scope,                 limitations and reasons for their underperformance. click here for details

We provide a wide range of tax and legal services, which are designed to offer clients innovative tax planning and compliance. like Corporate tax, Individual tax, Indirect Taxes, Patent, Export / Import documentation and Customs, Holding workshops on Income tax matters, Incorporation of companies, societies, partnerships, Trusts, etc.

Statutory Compliance

Evaluations

Statutory means "of or related to statutes," or what we normally call laws or regulations. Compliance just means to comply with or adhere to. So statutory compliance means you are following the laws on a given issue. The term is most often used with organizations, who must follow lots of regulations. When they forget or refuse to follow some of those regulations, they are out of statutory compliance. A company that follows all the rules, is in statutory compliance.

Evaluation, in the context of management activities, is carefully collecting information about something in order to make necessary decisions about it. There are a large number and wide variety of evaluations that can occur in businesses, whether for-profit or nonprofit. Evaluation is closely related to performance management, which includes identifying measures to indicate results. Evaluation often includes collecting information around these measures to conclude the extent of performance.

FCRA

TOOLS

Social development is a process which results in the transformation of social structures in a manner which improves the capacity of the society to fulfill its aspirations. Society develops by consciousness and social consciousness develops by organization. The process that is subconscious in the society emerges as conscious knowledge in pioneering individuals. Development is a process, not a programme. Its power issues more from its subtle aspects than from material objects.

FCRA is a short form of Foreign Contribution Regulation Act 1976. It is an Act to regulate the acceptance and utilization of foreign contribution or foreign hospitality by certain persons or associations, with a view to ensuring that parliamentary institutions, political associations and academic and other voluntary organizations as well as individuals working in the important areas of national life may function in a manner consistent with the values of a sovereign democratic republic, and for matters connected therewith or incidental thereto.