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The audit may be required by statute; and if properly planned, it can become a useful management tool. Our approach enables us to focus our time and effort on the most significant areas of the accounts and controls. So we not only keep our time cost to a minimum but also increase the effectiveness of the audit and thus provide maximum value to the client.
Statutory Audit
Statutory or ‘external’ audit is often seen as a legal imposition rather than something that can add value to your business. At Banka & Banka, we provide an audit service at the highest technical level for our clients.  
The firm handles Statutory Audits of Public Sector as well as Private Sectors Companies, Cooperative Societies, Trusts, Partnership Firms, Proprietorship Firms and Branch Audits.
Internal Audit  
Internal Audit plays a vital role in providing assurance to the Board of Directors and Senior Management on the effectiveness of the internal control systems operating within a business or organisation.
The firm handles Internal Audits of Limited Companies, Cooperative Societies, Trusts, Firms, Banks, Government Companies and Other Business Entities.
Tax Audit  
The firm conducts Tax Audits under Section 44AB of the Income Tax Act, 1961.  
Concurrent, Revenue, Internal, Income & Expenditure Audit of Banks  
The firm handles all audit and investigation matter of Private Banks, Scheduled Banks, Co-Operative Bank and other Banking entities. Following are the main area of our practice in respect of Banks.
  • Statutory Audit.
  • Revenue Audit.
  • Concurrent Audit.
  • Stock & Receivables Inspection Audit.
  • Appraisal of Assets Quality & Advances.
  • Tax Audit
  • Internal Audit
Banka & Banka has a skilled team to deal with an ever continuing and increasingly complex body of tax legislation. Tax planning plays a vital part in our approach and our primary aim is to help lawfully to mitigate the burden of taxation. We provide our individual and business clients with the taxation expertise and knowledge that they desire throughout the year.
Direct Taxation  
The firm provides the following Income Tax services:  
  • Filling of Income Tax return for Individuals, Firms(including Limited Liability Partnerships), Companies, Trust and HUF.
  • To provide services in respect of Assessment Proceedings.
  • Rectification, Revision or Appeal of Income Tax orders.
  • To get Income Tax Refund.
  • Filling of Annual Return for TDS.
  • Consultancy on TDS Matters.
  • Registration of Trust for Charitable purpose.
  • To get the clearance certificate for going abroad.
  • Tax Planning through Investments.
  • Certificate for claiming Export Exemption.
  • Payments on which Income Tax Deduction at Source (TDS) is required.
  • Computation of Advance tax.
  • To obtain Permanent Account Number (PAN).
Indirect Taxation  
The firm provides services to its clients under the Sales Tax Act as well as advises its clients under the Service Tax Act.  
Under the Sales Tax Act the firm is providing the following services:  
  • Registration under the Value Added Tax Act as well as Central Sales Tax Act.
  • Filling of Annual and monthly return.
  • Submission of Statutory forms as required under the Act.
  • Summary Assessment.
  • Regular Assessment.
  • Appeal, Revision and Rectification of order.
  • Amendment in registration certificate.
  • Refund of Tax.
Under the Service Tax Act the firm is providing the following services:  
  • Registration under the Service Tax Act.
  • Record to be maintained and invoice.
  • Payment of service tax.
  • Classification of services.
  • Credit of service tax paid.
  • Interest and penalty.
  • Assessment.
  • Revision and appeal.
  • Refund of Tax.
  • Filling of Half Yearly Return.
 Book Keeping and Accountancy  

This is an essential part of your business, but many businesses are finding that to run an efficient and effective system is increasingly complex and onerous. We have the skills and resources to handle all your needs or to assist with keeping your procedures up to date.

The firm provides the following Book Keeping and Accounting services to large companies as well as small/medium enterprises:  
  • Business accounting services to small/medium enterprises.
  • Help in designing of an accounting software or selection of a ready-made software suitable for their requirements.
  • Debtors Control Management.
  • Inventory Control Management.
  • Payroll Management.
  • Consolidation of Accounts and Preparation of Financial Statement.
  • Projected Financial Statement.
  • Preparation of Project Report.
  • Valuation of Goodwill, Valuation of Business, Brand Valuation etc.
 Portfolio Advisory Services  
The Firm provides services relating to the following to its clients:  
  • Mutual Fund- Advisory, Distribution, Structured Financial Products
  • Life & Non-Life Insurance Advisor and Risk Management Services
  • Portfolio Advisory related to equity & Debt
  • Other products- IPO’s, FD’s, Bonds, & Structured products
 Corporate Restructuring and Mergers & Acquisitions  
The firm provides the following services to its clients:  
    • Framing of Scheme.
    • Coordination with Corporate Lawyer.
    • Coordinate/ Pursue the matter with various agencies involved.
 Company Law Matters  
At every stage of business operation; from formation to incorporation, from meetings to registering documents with the registrar etc. involves complex procedures. Companies are required to get themselves registered with the Ministry of Corporate Affairs (MCA) and file documents regarding various statutory requirements.
The firm provides the following services in respect of companies:  
  • Incorporation of Private/Public Limited Company.
  • Drafting of Memorandum and Articles of Association of Companies.
  • Altering the name of the company.
  • Altering the registered office of the company.
  • Altering the object clause of the company.
  • Statutory meeting and statutory report.
  • Appointment of Directors and their remuneration.
  • Holding and subsidiary company.
  • Inter corporate investments.
  • Payment of dividend by companies.
  • Simplified Exit Scheme.
  • Buyback of shares.
 Preparation of Business Plans, Cash Flow Projections and Budgets  
We help businesses planning cash flow, achieving growth, and getting timely & accurate information to support business decisions. Our objective is to provide our clients with the means to prosper and achieve their greatest potential. We strengthen businesses achieving their financial functions by providing various services as
  • Internal Control Reviews
  • Accounting Procedures Documentation
  • Cash Flow Planning and Management
  • Operational Audits
  • Break-Even Analyses
  • Identifying Financing Alternatives
  • Analyzing Financial Capacity
  • Planning, Valuing businesses
  • Purchase Investigations
  • Due Diligence Reviews
  • Lease-Buy Analyses
  • Forecasts and Projections
 Preparation of Various Management Information Systems (MIS) reports as desired by the Management  
Management information system is used for generating reports including inventory status reports, financial statements, performance reports etc. These reports are essential for analyzing different aspects of business. These reports also help to answer 'what-if' questions like what would be the effect on cash flows of a company if the credit term is changed for its customers etc.
 Foreign exchange issues under the fema  
The firm provides the following FEMA/RBI related services:  
  • Compliance of the procedure including Chartered Accountants Certification for repatriation on Income/Assets from India.
  • Making applications to Reserve Bank of India for Purchases/Sale of Shares, Debentures & Securities and directly to and from Residents and Non Residents in India and outside India.
  • Making application to Reserve Bank of India for Purchase/Sale of Residential and Commercial Property including renting out of property.
  • Any specific advice required in relation to FEMA/RBI matters.
 Project financing  
Our exhaustive arrays of services include dealing in various financial products and include Project Feasibility study; project Financing, Project implementation by arranging finance for Corporate, Businessmen, Traders and Exporters etc.
The various financial products are as under:  
  • Unsecured Corporate Loans
  • Loan Syndication for Bigger Projects/Expansion Plan etc.
  • Working Capital, Term Loans from Banks
  • Takeover by Banks/Financial Institution
  • Packing Credit Loan, Letter of Credit for Importer & Exporter
  • Bank Guarantee
  • Clean overdraft (OD)
  • Loan against Property
  • Foreign Direct Investment (FDI)
  • Foreign Private Equity and Venture Capital
  • Preparation of Project Reports, Formation of Company and Allied Services
  • Non Fund Based Products Facilities
  • Standby letter of credit
  • Funding for Real estate Business
 International services including representation of foreign firms in india  
The firm provides following International Services for its clients:  
  • Incorporation of Companies in India.
  • Inheritance of assets by NRI from residents in India and Non-Residents.
  • Tax Treaties.
  • Conducting the survey, market research, and preparation of feasibility report on behalf of Non-Resident.
  • Preparation of collaboration agreements.
  • Establishment of Branches in India.
  • Establishment of office in India and outside India.
  • Taxation of NRIs carrying on business in India and outside India.
  • Advance Rulings.
  • Issuance of Shares & Security in India.
  • Investment advisory services in India in Shares, Securities, Mutual Funds and Properties.
  • Opening and operating bank accounts and to act as a representative of Non Resident Indians.
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