US Market
Tax preparation
- GKM offers preparation of individual, trust and estate tax returns as well as corporate returns.
- Tax planning and projections in order to minimize corporate and/or personal tax
We prepare individual tax returns, including federal and multi-state tax returns, using Gosystem, Lacerte, Prosystem FX, ProSeries, UltraTax, Drake, Tax Works etc. Our turnaround time is impressive. We are available on a 24/7 basis to respond to your concerns and queries. Our Two-Tier review process ensures a high degree of accuracy.
Bookkeeping, Accounting & Write ups
We undertake the preparation of write-ups and financial statements on behalf of CPA firms. Services offered include:
- Bookkeeping
- Monitoring receivables and payables
- Preparation of write-ups – Monthly, Quarterly & Annual
- Independent scrutiny of all accounting transactions
- Generation of financial statements on a periodical basis
- Audit & compilation of financial statements
Medical Billing
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Payroll
We provide complete payroll solutions. We prepare quarterly and annual federal tax forms for payroll compliance. We ensure that checks and all statutory payments are met timely. We guarantee precision and timeliness at
every stage of processing.
GKM Payroll Processing
- Innovation
- Technology
- Trained & dedicated teams and
- Timely implementation of solutions.
Outsourcing your payroll to GKM is fast, secure and simple. You submit your payroll data by email/fax/web based communications. We process your payroll checks & reports. It's safe, cost-effective and convenient. Personalized assistance is provided through trained payroll service specialists who are specifically assigned to handle your needs and are just a phone call away.
Indian Market
Payroll Processing
GKM offers payroll processing services to corporate houses. We customize our software to suit the requirements of the corporate and use the same for complete payroll processing.
We offer end-to-end service solutions encompassing payroll, retirement benefits and Income Tax.
Standard Model - Our Hardware, Our Software & Our People
This is the traditional Payroll Outsourcing model where we collect inputs from the corporate, process the payroll at our end and submit the statutory & non-statutory reports to the corporate on pre-decided dates.
Security, Confidentiality, Proximity, Continuity, Communication & Cost are the most critical factors which affect the performance of Payroll Management. We provide exemplary services by benchmarking best practices in the industry.
Deliverables
- Pay Slips
- Salary Register
- Statutory Reports
- Fulfillment of all statutory obligations
Features and Benefits
- Non-Disclosure & Confidentiality Agreements with the employees
- Service Level Agreement with the corporate
- Web-based reports
- Online help for employee queries
- Disaster recovery mechanisms
Compliance Services
GKM takes care of all compliance requirements on behalf of its clients. These include
- Tax Collection/deduction at source
- Corporate income tax return filing
- Company law and secretarial services
- Service tax filing and advisory services
- Due diligence audits
Carbon Credit Advisory Services
Carbon credits are a key component of national and international emissions trading schemes that have been implemented to mitigate global warming. They provide a way to reduce greenhouse effect emissions on an industrial scale by capping total annual emissions and letting the market assign a monetary value to any shortfall through trading. Credits can be exchanged between businesses or bought and sold in international markets at the prevailing market price. India and China are likely to emerge as the biggest sellers and Europe is going to be the biggest buyers of carbon credits. In 2007 global carbon credit trading was estimated at $5 billion, with India's contribution at around $1 billion. India is one of the countries that have 'credits' for emitting less carbon. India and China have surplus credit to offer to countries that have a deficit.
Per a November 2007 report, India is the global market leader having already generated 29 million carbon credits with another 139 million in the pipeline for sale.
In the light of the above, GKM offers the following services:
Registration with UNFCCC
Trading on CER & VER
Advisory on carbon credit – availability and utilization
Financial Services
GKM also offers services to source finance and assists in identifying venture capital fund providers, angel investors, private security placements, debt funds from banks and institutions.
Banking Support Services
GKM provides support services to various Indian banks in the following areas:
- Preparation of search reports
- Preparation of project feasibility reports
- Preparation of ETDS – quarterly & annual returns
Australian Market
Tax Preparation
GKM offers preparation of individual and Corporate Australian tax returns on various software such MYOB Tax, TAXCAT.
We prepare individual and corporate tax returns. Our turnaround time is impressive. We are available on a 24/7 basis to respond to your concerns and queries. Our Two-Tier review process ensures a high degree of accuracy.
Bookkeeping & Accounting
We undertake the preparation of write-ups and financial statements on behalf of Australian Chartered Accountants. Services offered include:
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- Preparation of financial statements – Monthly, Quarterly & Annual
- Independent scrutiny of all accounting transactions
- Audit & compilation of financial statement
NRI Corner
Tax advisory and consulting services for non-resident Indians, holders of PIO (Persons of Indian origin) cards, dual citizens, returning residents.
- Income Tax Planning
- Global Investment Planning in movable and immovable properties.
- Bank Account opening, borrowing and lending in India and Bank operations
- Compliance and sanctions of regulatory authorities
- Advising NRIs settling in India on Business opportunities
Personal Tax Planning
GKM provides tax-planning services that limit your personal and future tax liabilities. We take on the load of your cumbersome tax affairs, give reminders of payment deadlines and make sure that all statutory requirements are satisfied.
If you are starting a new business, inherit property, travel abroad or retire from your professional career, you will need advice accordingly. GKM can assist you to take advantage of opportunities and plan your future.
Tried and tested methods are combined with innovative solutions to offer you expert services.
Tax Compliance
Tax systems can be complex and confusing. Changes in regulations and their multiplicity add to one’s chagrin. GKM has an in-depth understanding of the system and can translate these into easy advices.
GKM can offer professional advice on tax issues to resident Indians, NRIs and foreign nationals.
Executive Taxation Services
Income Tax laws frequently change regarding deductions, rebates and exemptions available to individuals. Executive tax planning and investment planning have become inevitable. GKM helps avail benefits under Income Tax law and maximize the returns on investments.
Some executives render services in various countries, and become residents of more than one country. They are liable to pay taxes in more than one country. Executive tax Planning is important for such executives and corporate.
GKM provides the following Executive Taxation Services
• Advisory services for maximizing deductions / rebates / exemptions under the tax laws;
• Personal investment strategy for optimum tax efficiency;
• Salary structuring to maximize tax benefits;
• Filing of tax returns;
• Representation before tax authorities
Foreign Investment Services: - NRIs & Foreign Nationals
• Formulating an entry strategy into India such as opening a liaison office, subsidiary etc
• Formulating an appropriate investment strategy for companies seeking to invest abroad.
• Obtaining investment approvals from the Foreign Investment Promotion Board (FIPB) or the Reserve Bank of India, as applicable.
• Assist in obtaining approvals for External Commercial Borrowings.
International Transaction Services
NRIs & Foreign Nationals
GKM’s cross border tax practice focuses primarily on understanding your business objectives. This forms the basis of effective analysis and advice on tax and transfer pricing implications. We provide custom designed, practical and innovative solutions considering tax and non tax factors of a wide range of transactions such as corporate expansion, acquisition, expatriate relocation, turnkey contracts and formulation of intra group transfer pricing policies.
Services
International Tax
Transfer Pricing (TP)
Designing TP policy
Review of an existing policy
Documentation
Certification
Representation
Assistance in Advanced Pricing Arrangements.
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