Client Challenges
A client engaged in health care services approached PKC with the following challenges:
- Huge tax burden due to improper tax planning
- Accounts are maintained in 5 different concerns which create confusions & huge compliance work
- Poor statutory compliances led to multiple business complications
- Unorganised accounting system led to data less business decisions
PKC Solutions
PKC helped the client with the following solution:
- Designed legal tax planning strategy for the client
- Advised client on all the specific tax benefits applicable to the client industry
- Merged all the 5 concerns & brought into a single entity after rectifying the legal obstacles
- Helped client to comply with all the statutory provisions
- Empowered the accounts team by providing adequate training.
Results
- 80 LAKHS P.A Tax savings with the similar profit levels
- Cleaned up the previous tax non compliances
- 4X Reduction in Statutory compliance works
- Management focus diverted to Business valuation Growth
- Build strong and real time accounting system
