Kundan Wahi & Co.

Safdarjung Enclave, Delhi

Trademarks is a symbol, word, or words legally registered or established by use as representing a company or product. A trademark,  trade mark, or trade-mark is a recognizable sign,  design, or expression which identifies products or services of a source from those of others,  although trademarks used to identify services are usually called service marks. The trademark owner can be an individual,  business organization, or any legal entity. A trademark may be located on a package, a label, a voucher, or on the product itself. For the sake of corporate identity, trademarks are often displayed on company buildings.

Who can apply for Trademark? :A person who claims to be the proprietor of the trademark can apply for the registration of its mark for goods as well as services. A person may apply for registration of a trade mark to the Trademark office under whose jurisdiction the principal place of the business of the applicant in India falls.
In case, The principal place of business is outside India, Then the application can be filed in the Trademark office under whose jurisdiction the office of the lawyer appointed by you is located. In case of a company about to be formed, Anyone may apply in his name for subsequent assignment of the registration in the company's favor. Before making an application for registration it is prudent to conduct a trademark search in the Trademark office in context of the already registered trademarks to ensure that registration may not be denied in view of resemblance of the proposed mark to an existing one or prohibited one. 
Who can use a Trademark? :The right to use a mark can be exercised either by the registered proprietor or a registered user.What are Legal Requirements for Registration of Trademark in India? The legal requirements to register a trade mark under the Legislation are :

• The selected mark should be capable of being represented graphically (that is in the paper form).
• It should can distinguish the goods or services of one undertaking from those of others.
• It should be used or proposed to be used mark in relation to goods or services for indicating or so as to indicate a connection in the course of trade between the goods or services and some person have the right to use the mark with or without identity of that person.

Copyrights :Copyrights is the exclusive and assignable legal right, given to the originator for a fixed number of years, to print, publish, perform, film, or record literary, artistic, or musical material.Copyright is a legal right created by the law of a country that grants the creator of an original work exclusive rights for its use and distribution. This is usually only for a limited time. The exclusive rights are not absolute but limited by limitations and exceptions to copyright law, including fair use. A major limitation on copyright is that copyright protects only the original expression of ideas, and not the underlying ideas themselves.

Patents :Patent means a license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention.A patent is a set of exclusive rights granted by a sovereign state to an inventor or assignee for a limited period of time in exchange for detailed public disclosure of an invention. An invention is a solution to a specific technological problem and is a product or a process. Patents are a form of intellectual property.
We provide all services relating to trademark, copyright and patents.

Want exclusive rights for your product or services?

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In now a day, maintenance of statutory and accounting records is highly tedious job, which requires competent workforce, who are capable of understanding tax laws and updating himself with day to day changes in the tax structure. It is highly recommended to maintain proper books of accounts of your concern for proper analyzing of your financials.

We provide the multitude of services related to maintenance of accounts and financial reporting :

• Accounting System Designing and Implementation
• Preparation of Financial Statements
• Financial Reporting Framework
• Management Accounting and Budgeting
• Asset Accounting Management
• Maintenance of Fixed Asset Register
• Financial Analysis including Ratio Analysis
• Depreciation and Amortization Schedules
• Employee Stock Option Plan / Scheme
• Accounting Standard / IFRS Compliances
• Accounting for Mergers and Amalgamations
• Accounting for Inventories
• Accounting for Investments
• Preparation of Consolidated Financial Statements
• Accounting for Securities including trading in Future and Options
• Accounting for Corporate Re-structuring
• Supervisory accounting services
• Other related services

Don’t hassle for maintenance of accounts

We are here to help you !!

Section 139 of Income Tax Act, 1961 deals with the provisions of mandatory filing of return of income within the prescribed time frame mentioned therein. Every person who is in receipt of income which exceeds the prescribed basic exemption limit are required to file his / her return of income for the relevant assessment year and pay income tax thereon.

Who is required to file Return of Income? :Every person is required to file his / her return of income, if he / she is in receipt of income which exceeds the maximum amount not chargeable to income tax, within the prescribed due date of filing of return of income.

As per Section 2(31) of Income Tax Act, 1961, Person includes an individual, a Hindu undivided family, a company, a firm, an association of persons or body of individuals, whether incorporated or not, a local authority, and every artificial juridical person, not falling within any of the preceding sub-clauses.

Rush to file your Income Tax Return on Time.

We will help you to file your tax returns !!.

We are well known Chartered Accountants Firm for dealing in tax assessments / re-assessments, search and seizure assessment / re-assessments and appeals. We possessed esteemed value and recognition amongst our clientele and tax authorities and an acknowledged professionally managed firm. We have expertise in dealing of complex tax issues and integrities of the facts and circumstances of the case and capable to grab relief from tax authorities. You may find us as value addition to your business and we assure you to provide our quality services.We have expertise in :

• Give opinion on the complex tax related issues include international taxation.
• Drafting and representing tax assessments or appeal before the tax authorities.
• Representing tax appeals before Hon’ble Income Tax Appellate Tribunals
• Representing tax appeals before Hon’ble High Court and Hon’ble Supreme Court of India through our association with renowned advocates.
• Settlement of tax issues through settlement commission
• Advance rulings on tax issues
• Tax Planning and Advisory Services

Besides, we also provide multitude of tax related services which comprises of :

• Obtaining Permanent Account Number (PAN)
• Obtaining Tax Deduction Account Number (TAN)
• Obtaining Registration U/s 12A /35AC of I.T. Act, 1961
• Obtaining No Objection Certificate from Tax Authorities
• Filing of return of income
• Filing of TDS returns
• Liaison with tax authorities for processing of return of income, refunds, appeal effects, stay of demands, etc.
• Facilitate and provide consultancy in setting-up of project office / liaison office / branch office and related tax issues and compliances.
• Compounding of tax and penalties
• Dealing in Prosecution Cases.

In India, there are many ways to start up your business and one of the most common way to start your business is to operate through company either private or public limited company, which are governed by the provisions of Companies Act, 2013 read with rules framed thereunder. However, there are other corporate laws which are also applicable on the companies based on their constitution like RBI Act, Banking Laws, Insurance Laws, SEBI laws and other allied laws, etc.

Advisory Services :  

• We advise on all corporate laws including giving opinion on relevant provisions of laws dealing with specified circumstances.
• We advise on foreign investment policies and procedures including entry routes, investment options, setting-up of wholly-owned subsidiaries / joint ventures, establishing liaison / project / branch office, purchase / sale / transfer of shares, other RBI rules and regulations notified time to time.
• We advise on corporate matters including domestic and international taxation, foreign exchange, company laws, labor laws and contract laws.
• We conduct due diligence of prospective JV partners, existing companies, shareholders, directors, financers, etc.

Corporate and Regulatory Services :

• We provide services of incorporating company or limited liabilities partnership with the Registrar of Companies and post incorporation statutory compliance services.
• We provide services of setting up wholly owned subsidiaries, project offices, liaison office or branch office in India and regulatory compliances under RBI Act.
• We provide services for obtaining permission from the government for foreign investments covered under the government route.
• We provide services of drafting and execution of all formalities related to inward foreign investment such as RBI reporting, share issue, share allotment, corporate compliances, etc.
• We provide extensive services for compliance of notices and summons received from government departments and authorities.
• We facilitate mergers, acquisitions, strategic partnerships, joint ventures and cross border transactions.
• We provide or assist in maintaining secretarial records, books of accounts of organizations, making and filing of returns, making all statutory compliances under the law.

Corporate Litigation :

• We provide services of arbitrator or conciliation of disputes between the parties by our team as well as our esteemed professional panel.
• We represent our clients before National Company Law Tribunal or High Court or Supreme Court by our team as well as our esteemed professional panel.

MCA Services :

• We provide multitude of MCA services :
  • Incorporation of Company or Limited Liability Partnerships.DIN related services
  • Certification and e-filing of ROC forms
  • Digital signature services

Need assistance for your corporate hurdles?

We are here to help you !!

Merger and Acquisition (M&A) is one of the most trending way to expand your business. It is a transaction in which the ownership of the companies, other business organizations or their operating units, are transferred to another company or combined as one business unit or one company. As an aspect of strategic management, M&A can allow enterprises to grow, shrink, and change the nature of their business or competitive position. From a legal point of view, a merger is a legal consolidation of two entities into one entity, whereas an acquisition occurs when one entity takes ownership of another entity's stock,  equity interests or assets. From commercial and economic point of view, both types of transactions generally result in the consolidation of assets and liabilities under one entity, and the distinction between a "merger" and an "acquisition" is less clear. A transaction legally structured as a merger may have the effect of placing one party's business under the indirect ownership of the other party's shareholders, while a transaction legally structured as an acquisition may give each party's shareholders partial ownership and control of the combined enterprise. A deal may be euphemistically called a "merger of equals" if both CEOs agree that joining together is in the best interest of both of their companies, while when the deal is unfriendly (that is, when the management of the target company opposes the deal) it may be regarded as an "acquisition".

Most important aspect of mergers and acquisitions are the valuation of business, which may be achieved by following ways, as under :

• Assets Valuation
• Equity Share Valuation
• Discounted Cash Flow Valuation of Business
• Future Maintainable Earning Valuation

Know the value of your business and identify strategic move for expansion of your business by way of merger or acquisition. Keep valuing your business.

Need assistance for valuation of your business?

Need assistance for business combinations?

We are One Point Solution of your Needs !!

Audit is an official inspection of an organization accounts by an independent body. It is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern. It also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditing has become such a ubiquitous phenomenon in the corporate and the public sector that academics started identifying an "Audit Society". The auditor perceives and recognizes the propositions before them for examination, obtains evidence, evaluates the same and formulates an opinion based on his judgement which is communicated through their audit report.Broadly, an Audit involves :

• In-depth study of existing systems, procedures and controls for proper understanding and give suggestions for improvement and strengthening.
• Ensuring compliance with policies, procedures and statutes.
• Comprehensive review to ensure that the accounts are prepared in accordance with Generally Accepted Accounting Policies and applicable Accounting Standards/IFRS.
• Checking the genuineness of the expenses booked in accounts.
• Reporting inefficiencies at any operational level.
• Detection and prevention of leakages of income and suggesting corrective measures to prevent recurrence.
• Certification of the books of account agreeing with the Balance Sheet and Profit and Loss Account.
• Issue of Audit Reports under various laws.

Audit At a Glance :

• We conduct following types of audit :
  • Statutory Audit of CompaniesTax Audit under section 44AB of Income Tax Act, 1961
  • Audit under any other provisions of Income Tax Act, 1961
  • Internal Audit
  • Branch Audit of Companies, whether in India or Outside India
  • Stock Audit
  • Audit of Public or Private Trust
  • Audit of Co-operative Societies
  • Audit of Government NGO’s
  • Audit of Schools, Hospitals, etc.

Non-government Not for Profit Organisations :A Non-GovernmentalOrganization (NGO) is a not-for-profit organization that is independent from states and national governmental organizations. They are usually funded by donations but some avoid formal funding altogether and are run primarily by volunteers. NGOs are highly diverse groups of organizations engaged in a wide range of activities, and take different forms in different parts of the world. Some may have charitable status, while others may be registered for tax exemption based on recognition of social purposes. Others may be fronts for political, religious, or other interests.

NGO’s working in India, may be established for charitable purpose or for religious purpose or for both charitable and religious purpose. A Sole motive behind establishing a not for profit organization is to provide awareness of something or do something for public at large without any personal profits. There are numerous examples that apart from government organization which are providing basic need to the society, there are number of volunteers who are also providing these services to public at large for free of cost or at concessional rates.

CO-Operative Societies :A Co-operative is an autonomous association of people united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically controlled business.Cooperatives include non-profit community organizations and businesses that are owned and managed by the people who use their services; by the people who work there; by the people who live there; hybrids such as worker cooperatives that are also consumer cooperatives or credit unions; multi-stakeholder cooperatives such as those that bring together civil society and local actors to deliver community needs; and second and third tier cooperatives whose members are other cooperatives.
Though both the organization are working for the people, however, there are numerous compliance which needs to be followed by the organization which are not known to the said organization, resulting non-compliances of statutory requirements which lead to cancellation of their registrations or exemptions by the government authorities. We provide extensive services to the said organization from registration to doing proper compliances with the authorities. We provide the multitude of services related to NGO’s / Co-operative Societies :

• Registration under Society Registration Act, Co-operative Society Registration Act, Indian Trust Act and Income Tax Act
• Registration under FCRA and compliance thereunder
• Obtaining tax exemption certificate u/s 80G and u/s 35AC
• Maintenance of Statutory Records
• Liaison with government authorities
• Preparation and e-filing of returns, wherever needed
• Tax assessment and appeals
• Consultancy services

Don’t know how to manage with Govt. Authorities

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Goods and Services Tax (GST) is an indirect tax which was introduced in India on 1 July 2017 and was applicable throughout India which replaced multiple cascading taxes levied by the central and state governments. It was introduced as The Constitution (One Hundred and First Amendment) Act 2017,  following the passage of Constitution 122nd Amendment Bill. The GST is governed by a GST Council and its Chairman is the Finance Minister of India. Under GST, goods and services are taxed at the following rates, 0%, 5%, 12% , 18% and 28%. There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold. In addition a cess of 15% or other rates on top of 28% GST applies on few items like aerated drinks, luxury cars and tobacco products. GST was initially proposed to replace a slew of indirect taxes with a unified tax and was therefore set to dramatically reshape the country's 2 trillion dollar economy. The rate of GST in India is between double to four times that levied in other countries like Singapore.

As per the government website on GST, "Goods and Services Tax" Network (GSTN) is a nonprofit organisation proposed to be formed for creating a website / platform for all the concerned parties related to the GST, namely stakeholders, government and taxpayers to collaborate on a single portal. When up and running, the portal is supposed to be accessible to the central government which allows it to track down every transaction on its end while taxpayers are advertised to have the ability of connecting this to their tax returns. 

BENEFITS OF GOODS AND SERVICES TAX (GST)

For business and industry

• Easy compliance: A robust and comprehensive IT system would be the foundation of the GST regime in India. Therefore, all tax payer services such as registrations, returns, payments, etc. would be available to the taxpayers online, which would make compliance easy and transparent.
• Uniformity of tax rates and structures: GST will ensure that indirect tax rates and structures are common across the country, thereby increasing certainty and ease of doing business. In other words, GST would make doing business in the country tax neutral, irrespective of the choice of place of doing business.
• Removal of cascading: A system of seamless tax-credits throughout the value-chain, and across boundaries of States, would ensure that there is minimal cascading of taxes. This would reduce hidden costs of doing business.
• Improved competitiveness: Reduction in transaction costs of doing business would eventually lead to an improved competitiveness for the trade and industry.
• Gain to manufacturers and exporters: The subsuming of major Central and State taxes in GST, complete and comprehensive set-off of input goods and services and phasing out of Central Sales Tax (CST) would reduce the cost of locally manufactured goods and services. This will increase the competitiveness of Indian goods and services in the international market and give boost to Indian exports. The uniformity in tax rates and procedures across the country will also go a long way in reducing the compliance cost.

 For Central and State Governments :

• Simple and easy to administer: Multiple indirect taxes at the Central and State levels are being replaced by GST. Backed with a robust end-to-end IT system, GST would be simpler and easier to administer than all other indirect taxes of the Centre and State levied so far.
• Better controls on leakage: GST will result in better tax compliance due to a robust IT infrastructure. Due to the seamless transfer of input tax credit from one stage to another in the chain of value addition, there is an in-built mechanism in the design of GST that would incentivize tax compliance by traders.Higher revenue efficiency: GST is expected to decrease the cost of collection of tax revenues of the Government, and will therefore, lead to higher revenue efficiency.

 For the consumer :

• Single and transparent tax proportionate to the value of goods and services: Due to multiple indirect taxes being levied by the Centre and State, with incomplete or no input tax credits available at progressive stages of value addition, the cost of most goods and services in the country today are laden with many hidden taxes. Under GST, there would be only one tax from the manufacturer to the consumer, leading to transparency of taxes paid to the final consumer.
• Relief in overall tax burden: Because of efficiency gains and prevention of leakages, the overall tax burden on most commodities will come down, which will benefit consumers.

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