Transfer Pricing
Indian tax laws require an annual assessment of whether companies with overseas group entities meet the “arm’s length” requirement in their transactions (sales, purchases, services being provided, loans, management fee, royalty payments). Regulations require both a detailed (TP) study by the company and a TP audit report by an external auditor.
Being overseas entities who have set up Indian businesses, MNCO has several years of experience in both transfer pricing studies and audits. We assist companies in the following:
a. Monthly business accounting in Tally, SAP, QuickBooks, Zoho and Xero
b. Monthly assessment of tax deducted at source (TDS) and payments
c. Quarterly filing of TDS returns
d. Tax calculations for employees to determine TDS
e. Payroll calculations on a monthly basis
f. Quarterly assessment of income tax liability for the company and payment
g. Annual assessment of income tax liability and filing of returns
h. GST compliances on an ongoing basis
i. Management/MIS accounts preparation on a periodic basis
j. Company accounts preparation as per Indian GAAP (Schedule VI), Ind-AS or IFRS on an annual basis for audit and filing with regulatory authorities
k. Assistance in setting the accounting and reporting policies and framework for companies
l. Assistance in setting up tax registrations and compliances
m. Transition assistance for companies once they can take accounting and tax activities in-house
For questions relating to transfer pricing requirements and how they might apply to your company, reach out to us at info@mnco.in