Compliance
WizKid understands that regulatory compliance is the bedrock of a resilient and thriving business. Our dedicated Compliance and Legal Advisory Services extend across a spectrum of financial and business domains, ensuring that your operations align with the intricate web of laws and regulations. From tax and GST to accounting, auditing, company law, bankruptcy, insolvency under IBC, and all-encompassing legal matters concerning business and finance, we provide holistic solutions to safeguard your business.
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Company Law Advisory
WizKid's Company Law Advisory services are meticulously crafted to guide businesses through the intricate regulatory landscape governed by the Companies Act 2013. Our seasoned legal experts provide comprehensive support, ensuring that your business not only meets statutory requirements but also excels in corporate governance practices. From foundational compliance to strategic governance frameworks, our services are designed to fortify your company's legal standing and foster a culture of transparency and accountability.
1. Compliance with Companies Act 2013
- Statutory Compliance Reviews: WizKid conducts thorough reviews of your company's compliance with the Companies Act 2013. This includes assessing adherence to annual filing requirements, board meeting protocols, and other statutory obligations.
- Timely Filings: Our team ensures that all required filings, such as annual returns, financial statements, and board resolutions, are submitted accurately and within stipulated timelines to the Registrar of Companies (RoC).
2. Corporate Governance Enhancement
- Board Structure and Composition: WizKid provides advisory on optimizing your board structure, ensuring it aligns with the Companies Act 2013 and adheres to governance best practices. This includes recommendations for board committees and independent director appointments.
- Policy Formulation: We assist in the formulation of comprehensive governance policies, covering areas such as related-party transactions, conflict of interest, and code of conduct, fostering a culture of ethical business practices.
3. Regulatory Filings and Documentation
- Memorandum and Articles of Association (MoA & AoA): Our experts review and update your MoA & AoA to reflect changes in business strategies, ensuring alignment with the Companies Act 2013. We guide amendments and ensure proper documentation with the RoC.
- Secretarial Compliance Certification: WizKid provides secretarial compliance certifications, assuring that your company complies with all applicable legal provisions and adheres to the highest standards of corporate governance.
4. Annual General Meeting (AGM) Compliance
- AGM Preparation: We assist in the preparation of AGM documents, ensuring compliance with Companies Act 2013 requirements. This includes drafting resolutions, proxy forms, and other necessary documentation for shareholder meetings.
- AGM Conduct: WizKid provides guidance during AGMs, ensuring smooth proceedings and adherence to legal protocols. Our team assists in addressing shareholder queries and ensures accurate recording of minutes.
5. Regulatory Liaison
- RoC Interactions: Our legal experts act as intermediaries in interactions with the RoC, facilitating effective communication and addressing queries. We ensure that all necessary approvals and filings are secured in a timely manner.
- Regulatory Updates: WizKid keeps your business informed about changes in company law, providing proactive recommendations to align policies and practices with evolving regulatory standards.
6. Internal Controls and Audit Committee Oversight
- Internal Control Framework: We provide guidance on establishing robust internal control frameworks, ensuring compliance with Companies Act 2013 requirements. This includes recommendations for financial and operational controls.
- Audit Committee Support: WizKid assists in the functioning of audit committees, ensuring effective oversight of financial reporting, internal controls, and audit processes.
7. Compliance Training and Workshops
- Employee Training: We conduct training sessions to educate employees on company law compliance, fostering awareness and responsibility at all levels of the organization.
- Customized Workshops: WizKid offers customized workshops to key stakeholders, ensuring a deep understanding of legal obligations and governance principles under the Companies Act 2013.
Tax Compliance
WizKid's Income Tax Compliance Advisory services are meticulously designed to assist businesses in navigating the intricacies of the Income Tax Act 1961. Our experienced tax professionals provide comprehensive support, ensuring that your business not only meets its statutory obligations but also optimizes its tax position through strategic planning and compliance adherence. From routine filings to strategic tax optimization, our services are tailored to fortify your financial standing and foster a culture of fiscal responsibility.
1. Statutory Compliance Reviews:
WizKid conducts in-depth reviews of your business's statutory compliance with the Income Tax Act 1961. This includes a meticulous examination of income computation, deductions, and exemptions, ensuring alignment with the latest amendments and interpretations.
2. Annual Income Tax Filings:
Our team ensures timely and accurate filing of annual income tax returns, adhering to prescribed deadlines. We go beyond routine filings, providing strategic advice on claiming eligible deductions, credits, and exemptions to optimize your tax liability.
3. Tax Planning and Optimization:
WizKid's tax experts collaborate with your business to create bespoke tax planning strategies. This involves optimizing your tax structure, identifying applicable incentives, and ensuring compliance with evolving tax laws, all with an aim to minimize your overall tax burden.
4. Representation in Income Tax Cases:
In the event of income tax disputes, our seasoned legal team represents your business before tax authorities. We engage in thorough legal analyses, present compelling arguments, and seek resolutions through negotiations and alternative dispute resolution mechanisms.
5. Advance Tax Planning:
Our services extend to advance tax planning, ensuring that your business meets its periodic tax payment obligations. We provide accurate estimations, helping you avoid interest and penalties associated with underpayment of advance tax.
6. Transfer Pricing Compliance:
For businesses engaged in international transactions, WizKid ensures compliance with transfer pricing regulations. We conduct detailed transfer pricing documentation and assist in defending your pricing policies during tax audits.
7. Tax Deduction at Source (TDS) Compliance:
We assist your business in complying with TDS provisions under the Income Tax Act. This includes accurate deduction, deposit, and timely filing of TDS returns. Our team also ensures compliance with TDS rates and thresholds.
8. Handling Notices and Assessments:
WizKid's experts handle income tax notices and assessments with precision. We engage in thorough reviews, respond comprehensively to notices, and navigate the assessment process to secure favorable outcomes for your business.
9. GST and Income Tax Integration:
In cases where Goods and Services Tax (GST) intersects with income tax, WizKid ensures seamless integration. We align your business processes to optimize both GST and income tax implications, ensuring holistic fiscal compliance.
10. Regular Updates and Advisory:
WizKid keeps your business informed about changes in the Income Tax Act, providing proactive recommendations to align tax policies and practices with evolving legislative standards. Our advisory services are designed to keep you ahead of regulatory shifts.
GST Compliance
WizKid's GST Compliance Services are meticulously crafted to guide businesses through the intricate landscape of Goods and Services Tax. Our seasoned GST professionals provide end-to-end support, ensuring that your business not only meets statutory obligations but also optimizes its GST position through strategic planning and adherence to compliance norms. From routine filings to strategic GST optimization, our services are designed to fortify your financial standing and foster a culture of fiscal responsibility.
1. GST Registration:
Initial Assessment: WizKid assesses your business operations to determine the applicability and necessity for GST registration.
Registration Assistance: Our team guides you through the GST registration process, ensuring accurate and timely submission of required documents and information to the GST authorities.
2. GST Filing and Returns:
Regular Filings: WizKid ensures timely and accurate filing of GST returns, adhering to prescribed deadlines for various forms (GSTR-1, GSTR-3B, etc.).
Reconciliation Support: We provide reconciliation support to ensure consistency between your financial records and GST returns, minimizing the risk of discrepancies.
3. Input Tax Credit Optimization:
Review and Advisory: Our GST experts conduct periodic reviews of your input tax credit eligibility, ensuring that all eligible credits are claimed.
Compliance with Conditions: We guide your business in meeting the necessary conditions for availing input tax credits under GST, ensuring compliance with statutory requirements.
4. Reverse Charge Mechanism (RCM) Compliance:
Identification of RCM Applicability: WizKid assists in identifying transactions subject to reverse charge, ensuring accurate compliance with RCM provisions.
Filing and Documentation: We handle the filing of returns and maintain proper documentation for transactions falling under the reverse charge mechanism.
5. GST Audit and Assessment Support:
Preparation for Audit: Our team assists in the preparation for GST audits, ensuring that all necessary records and documentation are in order.
Representation in Assessments: In the event of GST assessments, WizKid's legal experts represent your business, providing thorough support throughout the assessment process.
6. GST Refund Facilitation:
Eligibility Assessment: We assess your business's eligibility for GST refunds, ensuring that all relevant criteria are met.
Refund Application Assistance: WizKid guides you through the refund application process, ensuring accurate submission and compliance with GST refund requirements.
7. GST Compliance Training:
Employee Training: We conduct training sessions to educate your team on GST compliance, fostering awareness and responsibility at all levels of the organization.
Customized Workshops: WizKid offers customized workshops to key stakeholders, ensuring a deep understanding of legal obligations and compliance principles under GST.
8. Continuous Updates and Advisory:
Regulatory Insights: WizKid keeps your business informed about changes in GST regulations, providing proactive recommendations to align GST policies and practices with evolving legislative standards.
Advisory Services: Our team offers ongoing advisory services, ensuring that your business remains adaptive to changes in the GST landscape.
WizKid's Company Law Advisory services are not just about compliance; they are about fortifying your business with strategic governance practices. Partner with us to navigate the intricacies of the Companies Act 2013, ensuring that your company operates with legal resilience and integrity.
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