1. Outsourcing

We are an expert company that aims to fulfill client requirements proficiently, cost-effectively,quality and with a viable strategy. We provide business accounting services that accommodate a full-range of industrial sectors, irrespective of their size. Our accounting team focuses primarily on the outsourced controllership in both long as well as short term circumstances.

Advantages of Outsourcing Your Small Business Accounting Tasks:

• You can minimize or the number of accounting staff, consequently lowering payroll and benefit costs that are associated for those staff members

• You cannot expect to do with the investment in hardware like computer systems,servers, and accounting software programs

• Also make it possible for your team to concentrate on primary business activities- expanding and managing the business effectively

• You are going to have peace of mind- getting your accounting services carried out by a highly-skilled team

• Further you can improve your internal controls by creating breakup of responsibilities

Nature of services Provided

• Bookkeeping

• Accounts Receivable

• Accounts Payable

• Risk Management

• Payroll Services

• Auditing Services

• Taxation Services

2. NRI Advisory

We simplify complicated laws and procedures and provide practical solution that is easy to understand and beneficial to implement for NRIs. Our consulting considers not only Indian taxes, but also Double Tax Avoidance Agreements (DTAA), foreign taxes and compliance requirements. We file forms and returns and help our clients to get refund of tax paid or TDS deducted. We issue certificates and liaison with banks for transfer from NRO to NRE or for remittances abroad. Our clients gain immensely from our over 6 decades of history of working with the Income Tax department.

Role of NJP :

• DTAA benefit consulting and Foreign Compliance Support.

• Issue Certificates including in Form 15CB.

• Financial Planning and Investment Management.

• Investment as per FEMA and RBI rules.

• Purchase and sale of property as allowed under FEMA.

• Consulting for Crediting funds directly into NRE account.

3. Cloud Accounting Solutions

Using cloud accounting software frees the business from having to install and maintain software on individual desktop computers. Cloud accounting solutions also allow employees in other departments, remote or branch offices to access the same data and the same version of the software.All application functions are performed off-site, not on the user’s desktop. In cloud computing, users access software applications remotely through the Internet or other network via a cloud application service provider.

Role of NJP :

• Ensure Successful Implementation.

• Offshore development center

• Consulting of Cloud Accounting Services

• Annual support contracts

4. IFRS & US GAAP Reporting

International Financial Reporting Standards (IFRS) is gaining momentum throughout the world as a single, consistent accounting framework and is positioned to become the predominant GAAP in the near future. More than 120 countries have moved to, or base their local standards on IFRS.

Role of NJP :

• IFRS Conversion – Planning and Implementation

• Conversion from Indian GAAP to US GAAP and Reconciliation

• Corporate IFRS Training Programme

• Valuation and Impairment Testing

5. Setting up business in India

Due to economic liberalization, starting and setting up and doing business in India is no more hassle. Owing to ongoing computerizations at Government level, incorporation, formation, registration of a company, in India, has become an easy process. Owing to changing regulatory environment, there are various efficient vehicles available for entry and exit strategy.

Role of NJP :

• Advise on Entry Strategy and structuring of Business set up in India

Identification and selection of the place of business

• Incorporation of the Company or Branch or Liaison Office in India

• Ongoing compliance with all laws and regulations

6. Direct & Indirect Tax

A tax that governments impose on financial income generated by all entities within their jurisdiction. By law, businesses and individuals must file an income tax return every year to determine whether they owe any taxes or are eligible for a tax refund. Income tax is a key source of funds that the government uses to fund its activities and serve the public.

Role of NJP in Income Tax:

• Identification and implementation of tax planning opportunities for various Indian companies under the Income-tax laws, so as to reduce their income-tax liability.

• Tax assistance to various MNC’s in setting up a business presence in India to ensure that the investment structure is highly income-tax efficient. This involves application of the principles of international taxation to the given facts.

• Preparation and filing of income-tax returns for Companies and other entities with the Revenue authorities.

Goods & Service Tax - Indirect Tax

GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.

Role of NJP in Indirect Taxes:

• Consulting on applicability of Goods & Service Tax

• Liasion with government officials for Registration

• Filing of GST Returns periodically

• Plea ding in appeal matters at various levels

• GST Audit Report submission

7. Risk Advisory & Automation

Every business organization is subject to some kind of risks depending upon several factors such as the products and services it sell, the market in which it functions, the sources through which it is financed, and the way it utilizes its resources. A good corporate internal control has now become an integral segment of risk management framework. Assessment of risk involves the analysis and establishment of plans in order to prevent the risks associated with the attainment of company's objectives

Role of NJP:

• Process Design Evaluation

• Business Process Redesign

• Mapping the key processes, intra-group and outsourced, of risks and controls

• Suggest ideas to improve and optimize the different levels of control

• Development of/ and or review of an Organisations Risk Management Strategy and Policy

• Review of an Organisations Risk Appetite and evaluation criteria including a review of or development of Qualitative and Quantitative Risk Evaluation and Assessment rating scales

• Risk Management Training.

8. Real Estate Law (RERA Act)

An Act to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector and to ensure sale of plot, apartment or building, as the case may be, or sale of real estate project, in an efficient and transparent manner and to protect the interest of consumers in the real estate ssector and to establish an adjudicating mechanism for speedy dispute redressal

Role of NJP :

• To present the case before the Appellate Tribunal or the Regulatory Authority or the adjudicating officer

• Drafting of Reply to show cause notice; appeal etc

• Assisting client in respect of filing of application for registration under the Act;

• Assisting client in taking approvals which are pending subsequent to commencement certificate;

• Providing consultancy/opinion with respect to various transaction under RERA and other laws;

9. Auditing

An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern. It also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. As a result of an audit, stakeholders may effectively evaluate and improve the effectiveness of risk management, control, and the governance process over the subject matter.

Role of NJP :

• Providing Services of Statutory as well as Internal Audit

• Identification of Risk Assessment Procedures during the course of Audit

• Evaluating Internal Control Systems that are in line with the objectives of the Management

• Providing Consultancy regarding Tax as well as GST Audit.

What are the clients says

Our History

The Company is built on the history of over 70 years of family experience, professional values, ethics and customer satisfaction. The foundation was laid in 1947 when Mr. Jivanlal Patel, father of our advisor Mr. Naresh Patel started M/s. R. J. & Patel Co.

Contact Information

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