Accounting and Tax has become the most important domain in the area of finance from the time of economic reforms of 1991. Ever since organisations have realized the signifance to maintain smooth functioning of their finances and keep sufficient knowledge about the various taxes, accounting methods, depending upon the nature and the size of their businesses. From dealing with complex filing rules, declaring deductions and corporate expenses to the last minute changes to the tax code and tax software updates, in this era of rapid innovation of financial technology that is transforming the way accounting and auditing functions are performed. The evolution and impelentation of Indian Accounting Standards has increased the complexities of accounting and taxation in businesses, every business entity needs an experienced and efficient accounting and tax consultant.
With the purpose to provide proficient consulting solutions and effectively handling the ever growings needs of the business, I.P. Pasricha & Co was founded in 1978 having Headoffice in New Delhi with branches located at Gurgaon, Mumbai and Ludhiana.
Established in the year 1978 by CA Inderpal Singh Pasricha after completeing his education and working for 2 years. He was later joined by CA Maneet Pal Singh Pasricha in the year 2010 after gaining experience in two of the big four accounting firms Deloitte and KPMG. Firm continuously strives for perfect unification of professionalism. The firm endeavours to offer comprehensive solutions rendered by a team of highly qualified and experienced professionals. In addition to this, firm also holds its own proprietary software to keep a track of it’s employee’s efficiencies in order to ensure maximum ROI for its clients by accurately measuring results that are tied to individual efforts.
The necessity of hiring tax specialists or finance professionals should percolate down to the small and mid-companies and even start-ups which are growing fast. It is often seen that these companies continue to focus solely on the business and their customers. Somewhere, in this process acccounting standards, tax compliances and documentation take a complete back seat, which sometimes forces companies to adopt short cuts or face huge tax demands with significant litigation and consultancy cost.
On the other hand, the companies which don’t ignore accounting and tax processes from beginning are able to command more premium and respect in the market. The investment in a right tax professional can even help promoters, senior management and business leaders to stay focused on growing business and without being pulled into attending summons by tax authorities or management of tax assessments and demands.
An Array of Specialised Services
I.P. Pasricha & Co offers clients proficient consulting services and solutions in the field which includes auditing & assurance, taxation & advisory, compliance & regulatory and business & IT advisory.
Taxation & Advisory Services:
I.P. Pasricha & Co dig into the transaction analysis to plan taxation impact and compliance well in advance so that viable decisions can be taken by the clients and thereby they will be able to put their best foot forward. The firm ensures that the client’s focus should not be shifted from their core business activities.
Auditing and Assurance Services:
I.P. Pasricha & Co provide comprehensive audit and assurance services designed to deliver real value and underpin investor confidence with a comprehensive disciplined approach that yields practical solutions, where services are focused on creating value – bringing the insight and foresight across the business, to tackle the future head on.
Compliance & Regulatory Services:
I.P. Pasricha & Co leverage a thorough understanding of statutory legislations and policies ensuring a smooth and fully compliant environment for domestic and international clients. Firm take burden of companies compliance duties and perform them with utmost perfection. Firm is a guiding force for businesses through gestation to maturity and handles their Accounting, Taxation and Secretarial Compliances.
Business & IT Advisory Services:
I.P. Pasricha & Co. offers evidence-based business advisory programs to assist executives on issues of strategy development as well as day-to-day operations and offering function-specific expertise in all the major business functions as well as expertise in enterprise-wide concerns such as business process management and business process outsourcung.
Understanding client business and industry by working closely with management teams, helps to provide specialist knowledge and objective advice in business processes re-engineering. Analyzing the current scenario, developing the proposed scenario and then bridging the gap between the two. The firm develops a procedure and systems thereby designing internal controls to ensure timely reporting in the form of MIS, Compliance reminders, etc, which are available to decision makers. This procedure is carried out through IT support services they provide to ensure saving in Time and cost and helps clients grow and focus on desired areas.
Virtual CFO services
I.P. Pasricha & Co. offers its clients bundle of services described hereinabove on a retainership basis or as virtual CFO so as to deliver maximum ROI for its clients. Virtual CFO service helps businesses which have a finance and accounts team but do not have a in-house CFO. There are many challenges faced by a growing business and Virtual CFO service helps to navigate those challenges effectively by providing professional advice, analysis and support to management.
Team, the Key Treasure of an Efficacious Firm
The firm serves many reputed clients and believes that this achievement wouldn’t have been possible without the firm’s competent team, comitments towards continuous improvement and growth. Quality control mechanism, robust database, delivering up to clients expectations, focus on team and the attitude they carry have all contributed to the firm’s glorious journey. I.P. Pasricha & Co believes in building a winning team and have composition like any champion sports team, veterans, who are guiding force and role model; upcoming mavericks, who are focused on excelling and obtaining the next position; and rookies, attempting to learn all they can in their initial years.
The team of I.P. Pasricha & Co keeps whole focus on delivery to the clients, through creating its own unique quality and standardized client service model. As a facilitator, the firm keeps their need of knowledge management fulfilled by better communication within teams and has also created a separate team for knowledge management, parting training to not only within the organization but also to their client’s accounts and finance team. They have created new organization structure with some new departments and each department is now headed by domain expertise. Additionally, the firm has created an internal proprietary software which gives them better control and refined data to analyze and take decisions.
Flight to the Future
I.P. Pasricha & Co has created separate teams and started with impact assessment for corporate clients, going further in future they wish to gain expertise in GST for MSME and corporate clients. The firm is in the process of creating proprietary software for providing e-accounting services for its clients. The firm is also planning to expand its offices in more cities like Chennai, Bangalore and Pune.