Client Challenges
A client engaged in construction services approached PKC with the following challenges :
- Income tax survey is conducted at the client location
- The client auditors were not able to handle the survey
- Unorganised accounting system led to multiple complications
- No awareness about the statutory enactments to be complied
PKC Solutions
PKC helped the client with the following solution:
- Analysed the income tax survey & understood the queries raised by the tax officials
- Identified the client strengths & handled the survey
- Ensured that adequate information & clarifications are provided to tax officials
- Anticipated tax scrutiny checkpoints & helped client to rectify it
- Trained finance team to comply with statutory enactments
Results
- 100% Statutory Compliances.
- Rectified income tax survey with limited liability.
- Strong & reliable financial statements to fuel the business growth.
- Organised & transparent accounting system.
- Reduced probability for future tax scrutiny.
- No major tax additions for the client till date from past 10 years.