Sanjay Ruia, Chartered Accountant in Practice for the Past 24 years in the field of Taxation, Audit, Insolvency Professional, Forensic Accountant, Company Law, VAT, Service Tax & Corporate Finance Sanjay Ruia in the year, 1996. Ruia is a self build man and completed his Chartered Accountancy course in May, 1992. He initially took up the job with M/s. Tata Finance Limited in their Corporate Finance
Division. He gained rich experience in the Debt and Equity Funding for the corporate. In 1996, he left Tata Finance Limited to foray into his own practice and over the years specialized in the under mentioned fields and developed a good client base as well. Insolvency Professional:
Corporate Finance:
We continue to advice clients for their Financial Planning as we say that “Finance is the Basic Raw Material for Any Industry”. We syndicate funds for Medium and Large Corporates for Project Finance including Working Capital needs with Banks and Institutions and preparation of Project Reports. Taxation
Due to Mr. Ruia’s extensive knowledge of taxation practices and procedures followed worldwide and our close interaction with the Indian Tax Authorities, we are able to provide pragmatic solutions for Multi-national Companies, Non-Resident Indians, Cross-Border Investors and Resident Indians. Our range of services in this area includes evolving taxation strategy by optimizing tax incidence through application of:
Tax incentives, tax holidays and benefits
Double tax treaty networks
Transfer pricing and other options
Comprehensive worldwide tax planning
Tax and exchange control planning for NRI investments in India and for Indian Business Concerns setting operations and having investments abroad. Designing tax efficient salary structures for employees. Optimization of Fringe Benefit Tax. Tax incidence optimization – CENVAT, Service Tax, VAT, LBT and Profession Tax. The Tax Division offers the following Compliance Services:
Preparation and filing of income tax returns. Preparation of advance taxes and tax planning. Representation before the statutory authorities. Online consultancy for frequently asked questions. Appearing before the income tax appeal commissioners etc. Handling of income tax raid cases and surveys. Advice on transfer pricing
Advice on matters relating to tax deduction at source. Advice on matters of double taxation and trade agreements. Employee Tax Returns
Salary structuring of employees. E-filing of returns of the entire company employees
Payroll processing. Ruia’s dearth to tax practice has initiated him to create his web-portal for filing of income tax returns online at www.taxeworld.com. Audits
The business landscape has been fundamentally altered by factors such as globalisation, liberalization and deregulation couples with radical innovations and improvements in communication networks and information technology. In this new economy, organisation need advisors capable of offering a broad range of innovative and cost-effective solutions and Sanjay Ruia & Associates with its wide range of service offerings have been developed after a detailed understanding and shared knowledge of industries, competition, laws and regulations. Our member firm’s approach requires the rigorous standards of professional competence, independence and objectivity that clients rightly demand, yet still recognises that the auditor is uniquely placed to make a constructive contribution to the client’s business. Our forte is mainly into Forensic Audits which generally comes in from the outside world or even from the management side into Pilferage Audits and Profit Enhancement Programs. Profit is the difference of Sales less Cost. Sales is dependent on the market factor and is not in the control of the management. The only factor which can enhance profit is to control the cost. We do a detailed audit of every division of the company including the shop floor to banking and accounts. Our approach
The SKR Audit Methodology blends technical competencies with a detailed knowledge of the client, its markets and the industry sector. Using this methodology our members offer a tailored audit approach with a strong emphasis on early planning and how your business functions. This enables them to identify key audit components and tailor their procedures to the unique aspects, size and nature of your business. The SKR audit approach which complies with international auditing standards involves:
Obtaining an understanding of the client’s business from both an accounting and business perspective. Assessing the risk of material misstatements and the controls in place to prevent these risks. Selecting appropriate analytical and substantive audit procedures to obtain evidence. Conducting formalised review procedures to ensure that the chosen procedures are carried out and that correct conclusions are drawn. Forming an opinion and reporting under the applicable laws and standards. Communicating with management on an ongoing basis throughout the audit. The benefit to you as the client in an effective, cost effective, cost efficient, independent audit, performed in a timely manner by experienced professionals. When the audit report is delivered, the client and its shareholders can be confident that the report objectively and independently comments on the financial records and information systems employed. Wherever appropriate, our members will also provide management with imaginative and pragmatic advice that adds value to the business assurance requirement. Quality
The SKR Audit Methodology is in compliance with International Standards on Auditing (ISA’s) and is regularly updated for new technical pronouncements and efficiency changes in best practices. This methodology is supported by other global policies relating to:
Ethics and Independence
Quality Assurance and risk containment
Training and Continuing Professional Education (CPE). Training is seen as critical across the network to ensure consistence, objectivity and the highest level of client service. All our member’s conduct significant levels of training locally, in addition to which Taxeworld.com Private Limited also provides training on the audit manual and other related policies through training courses run on-site, written training materials issued to firms and by global web-conferencing. SKR is committed to meeting international standards as well as playing an active role within the wider auditing profession. This is primarily done through a global audit committee that is responsible for setting the policies and procedures that all our member firms need to implement and for monitoring the quality of the firms through an ongoing program of inspections. Audit and Assurance Services
The assurances wing of the firm would render the following audits:
Internal Audits
Concurrent Audits
Management Audit
Statutory audits as per the regulatory requirement
Tax audits as per the regulatory requirements
Certifications and Attestation. Certifications & Attestations
SKR provides a wide range of attestation services. The objective of such services is to give opinion on whether the financial statements give a “True and Fair” view. While performing the attestation services we promote and maintain the concept appearances and fact of independence. Our service offerings include:
Reports issued under:
Indian Laws
Companies Act, 1956
Income Tax Act, 1961
Service Tax Act
MVAT Act
US GAAP
International Financial Reporting Standards (IFRS)
Special purpose audits for DTC sight holders
Certifying detail required under various statutes
Other audits:
Concurrent audits
System audits
Special investigative and fraud audits
Due diligence audits
Audit of 100% EOUs to ascertain availment of benefits and special compliances and regulatory requirements. Advice on technical and financial collaborations, joint ventures and obtaining approvals of Foreign Investment Promotion Board (FIPB) and other Government agencies. Company Law Matters
Registrar of Companies (ROC) having jurisdiction for the purpose of registration of Companies under Section 609(2) of the Companies Act, 1956. Foreign investors can enter into the business in India either as a foreign company in the form of a liaison office / representative office, a project office and a branch office by registering themselves with Registrar of Companies (ROC), New Delhi within 30 days of setting up a place of business in India or as an Indian Company in the form of a Joint Venture and wholly owned subsidiary. For opening of the foreign company specific approval of Reserve Bank of India is also required. September, 16, 2006 heralds the dawn of a new era for all those involved in the process of statutory filings under the Companies Act, 1956. We cross the digital divide on this day, with all future transactions being in the electronic mode only. This is the opportunity to move seamlessly into a new transparent, hassle-free, e-Governance environment, full of exciting possibilities. Sanjay Ruia & Associates is one of the Certified Filing Centre under Ministry of Corporate Affairs, E-Return Intermediary with the Department of Income Tax and also the Licensed Registration Authority with Sify Technologies Limited for issuance of Digital Signatures. He is also the director with Taxeworld.com Private Limited which is into web portals: www.taxeworld.com for filing of income tax returns online and www.tdseworld.com for filing of quarterly e-tds returns online. We provide all the services relating to MCA21 project including:
Application of DIN form (Directors Identification Numbers)
Formation of Companies
E-filing of all documents under MCA21 Project
Giving Digital Signature Certificates to the Directors
Company Law and Commercial Documentation
Corporate Advisory and Structuring
ISO Quality Management Services
Enterprise Risk Management
Operating Consulting
Transfer Pricing
