Ved Gupta & Co (‘VGGlobal’)

Chartered Accountants

Statement of credentials
 Outline
Who we are
Our service offerings
Experience of the firm
Key Profiles
The VGGlobal Difference

April 2011 Page 2 VGGlobal

Who we are
And what we stand for

April 2011 Page 3 VGGlobal

Who we are

► Founded in 1982, Ved Gupta & Co is the firm of Chartered Accountants having core
expertise in Audit and Taxation.

► We specialize in Statutory Audits, Internal Audits, providing strategic legal, regulatory

and tax advice coupled with industry expertise in an integrated manner. We focus on
niche areas in which we provide significant value and are invariably involved in select
highly complex, innovative transactions.

► Our key clients include marquee multinationals and core practice areas include
International Tax, Audit, International Tax Litigation, Litigation & Dispute Resolution,
Fund Formation, Fund Investments, Capital Markets, Employment and HR, Intellectual
Property, Corporate & Securities Law, Competition Law, Mergers & Acquisitions, JVs &
Restructuring, General Commercial Law and Succession and Estate Planning.

► Our specialized industry niches include financial services, IT and telecom, education,
pharma and life sciences, media and entertainment, real estate and infrastructure.

► Quality of Services - immaculate, consistent and impeccable.

April 2011 Page 4 Statement of credentials VGGlobal

Our approach to achieving potential

Experienced leadership | Authoritative Industry Expertise | Comprehensive solution range

Chartered Tax Engineers, Management Risk Certified Human M&A Industry

accountants, consultants information consultants management fraud capital specialists experts,
Management and systems and business specialists examiners specialists and analysts and
and cost regulatory auditors and analysts and internal and transaction researchers.
accountants experts application auditors. litigation consultants
consultants specialists

Our approach brings a diverse and comprehensive set of perspectives, a multi dimensional
value engine and an extra, truly unique factor.

Strategy
The E factor!
It's all in our DNA. At VGGlobal we are programmed for success.
Sector
Sector It’s an energy that inhabits us and carries our convictions — that each of
Experts
experts us makes a difference; that each of us is a leader, empowered with the
personal responsibility of delivering on promises. This commits us to
excellence in every action. You can feel this energy every time you
Performance interact with us. This is what launches us towards the peak experience
Value
Technology Process improvement of success in achieving potential.”
creation
experts experts
Ved Parkash Gupta
Managing Partner,
Ved Gupta & Co

April 2011 Page 5 Statement of credentials VGGlobal

Audit, Tax & Regulatory
Services
What we can do for you

April 2011 Page 6 Statement of credentials VGGlobal

Audit, Tax & Regulatory Services

Our account centric approach

Align the team

Your Vision Audit

Business imperatives Human Capital
Structured Audit, Tax &
Issues Clients Regulatory International tax
Relationship
Services
Risks Direct & Indirect tax

Needs Transaction tax

Service expectations

► Changes due to globalization and attendant trade and In this new business paradigm, holistic, innovative and
service flows, implementable solutions – based on an intimate
► Changing tax regulations around the world understanding of business issues are critical.
► New legislations to capture taxes on transactions and VGGlobal’s services service offerings, methodologies and
income. processes, people, culture and attitude are geared to meet
this challenge.
► ‘Compliance' has assumed significance due to pressure
from regulators and shareholders.

April 2011 Page 7 Statement of credentials VGGlobal

Audit, Tax & Regulatory Services

Our integrated Outsourcing, Tax & Regulatory Services team in India provides deep technical
knowledge, both global and local, combined with practical, commercial and industry experience.

Assurance Services ► Internal Audit Services

Compliance with management controls

System and process improvements

Financial impropriety and fraud audits

Due diligence for acquisitions and investments

Concurrent Audit Services
► Forensic Audit
► Management Audit Services :
► Operations and Efficiency Audit Services
► Special Investigative Audit Services
► Due Diligence Review
► Costing and Accounting System Design and Review
► Compilation of final accounts as per accounting
standards of US GAAP
► IFRS Implementation
► Statutory Audit

April 2011 Page 8 Statement of credentials VGGlobal

Audit, Tax & Regulatory Services

Our integrated Outsourcing, Tax & Regulatory Services team in India provides deep technical
knowledge, both global and local, combined with practical, commercial and industry experience.

Accounting/ ► Quickbooks Accounting and Setup ► Cash and Accural Accounting.

Bookkeeping ► Peachtree Accounting . ► Bank and Credit Card Reconciliation.
outsourcing ► MYOB Accounting . ► General ledger Reconciliation.
► Simply Accounting . ► Write-up Works.
► Netsuite Accounting . ► Handi Ledger.
► Quicken Accounting . ► Superannuations.
► Sage Line 50 Accounting . ► Complete accounting on ERP's

► Form 1040 U.S. Individual Tax Returns ► Form SA 100 (Individual Tax Returns)
► Form 1065 U.S. Partnership Tax Returns ► Form SA 800(Partnership Tax Returns)
Taxation ► Form 1120 U.S Corporate Tax Returns ► Form SA 900 (Trust and Estate Tax Returns)
outsourcing ► Form 1120s U.S. S Corporation Tax Returns► Form CT 600 (Company Tax Returns)
► Form 990 U.S Exempt Organization Tax ► VAT Returns for UK.
Returns ► Sales Tax Returns for US.
► Form 1041 U.S. Estate and Trusts Tax ► GST Calculations and returns for Canada &
Returns Australia.
► T1 Canada Tax Return.
► T2 Canda Tax Return. And - Handi Tax.
.

April 2011 Page 9 Statement of credentials VGGlobal

Audit, Tax & Regulatory Services

Our integrated Tax & Regulatory Services team in India provides deep technical knowledge, both
global and local, combined with practical, commercial and industry experience.

Business Tax ► Identifying tax exposures and planning ► Inbound tax advisory
Services ► Documentation; preparation and review of ► Identification, recognition and measurement of
tax returns Uncertain Tax Positions (UTP) (FIN 48)
► Representation before Indian statutory and ► Deferred Tax (FAS 109/ AS 22/
fiscal authorities; strategy and resolution; IAS 12) reconciliation
competent authority proceedings under tax ► Assistance in SOX 404/ Clause 49 compliance
treaties ► Alignment of tax with business strategies
Human Capital ► International assignment management – ► Global private wealth services
Services tax planning & consultancy ► Tax effective remuneration packages
► Equity incentives & share plan ► Tax compliance
► Immigration services ► Payroll outsourcing

International Tax ► International tax dispute resolution ► Tax efficient supply chain management
Services ► Outbound tax advisory ► Transfer pricing services

Indirect Tax ► Export-import policy and customs duty ► R&D cess

Services ► Service tax octroi/entry tax ► Cenvat (also known as excise duty)
► Sales tax / VAT
Transaction Tax ► Structuring transactions to optimize fiscal ► Business reorganization from a fiscal perspective
Services benefits

April 2011 Page 10 Statement of credentials VGGlobal

Audit, Tax & Regulatory Services

Our integrated Tax & Regulatory Services team in India provides deep technical knowledge, both
global and local, combined with practical, commercial and industry experience.

Payroll outsourcing ► Set-up in QuickBooks, Peachtree, Sage line ► - Generate Payroll liabilities (Taxes) due to the
50, etc. IRS & HMRC.
► Preparation of W1 , W2 , W3 Forms for US. ► Prepare 940, 941 Tax returns & Forms for US.
► Set up Payroll Items like, Hourly rate, Salary ► Calculation of Standard deductions such as NI,
and Wages. PAYE, SSP, SNP, SPP'S for UK.
► Set up Payroll Withholdings like, Federal ► Filling of statutory forms P35, P14, P60, P45,
Withholding, Social Security and Medical P46, P32, P11D & P9D for UK.
Insurance. ► Australian Payroll Outsourcing.
► Create Employees and designate them
whether the pay check is issued on a
weekly, biweekly or monthly basis.
► Create Paychecks directly or Through Time
Sheets using software's and ERP.

April 2011 Page 11 Statement of credentials VGGlobal

 Our specialised service offerings

We can work with you to

understand your needs and
Specialised services
requirements and provide
An integrated approach
you with the most
appropriate solution

Taxation
Outsourcing
Accounts Payroll
Outsourcing Outsourcing
Outbound
Investment
Advisory Transactio
TARAS n Tax
Business Services
Tax
Indirect Services Internation
Tax al Tax
Services Assurance Services
Services

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 Assurance Services

Taxation ► Considering the dynamic nature of the business

outsourcing
Accounting Payroll environment and ever increasing challenges and risks
outsourcing outsourcing
Outbound
Regulatory
faced by them, business executives require reliable,
investment
services
Advisory
Transaction
Transaction
accurate and timely information from systems and
TARAS
Tax
tax Services
advisory
Business Tax
established business processes to make choices and
Indirect Tax
Services
International
decisions which are beneficial to their organizations.
International
Services tax
Tax Services
Assurance
Human capital
services

► Keeping abreast with changes and being adaptive to the

dynamic business environment is a requirement to help
ensure businesses remain afloat in the midst of risks they
are exposed to.

► We can apply our skills and experiences as auditors of

multinational and national organizations, listed and
Assisting clients unlisted entities, small and medium enterprises to many
with employee areas of your business that will be advantageous to the
related matters organization. We are well positioned to provide assurance
services that will help your organizations to succeed and
help mitigate your risks.

April 2011 Page 13 Statement of credentials VGGlobal

 Accounts outsourcing Services

► Income & Loss Statement Preparation

Taxation
outsourcing ► Income & Loss Statement Monthly Reporting
Accounting Payroll
outsourcing outsourcing
Outbound ► Balance Sheets Reporting
Regulatory
investment
services
Advisory
Transaction
► Cash Flow Preparation Report
TARAS Transaction
Tax
tax Services
advisory
Business Tax ► All Accounts Reconciliation Reports
Services
Indirect Tax International
International ► Budget Reports on monthly, quarterly and annual basis.
Services tax
Tax Services
Human Capital ► Fixed Assets Process Reports
Human capital
Services
► Inventory Accounting.
► Time and billing Recording.
► Financial analysis like ratio analysis, P/E ratio, NPV, etc.
► Sales Order Processing.
► Complete Accounting Services with Reporting Analysis.
► Auditing Services.
Providing clients with
► Transaction Processing Services.
a complete spectrum
► Prepration of annual reports, director reports and auditors report.
of tax and regulatory
services ► SOX Auditing
► Advice on tax planning opportunities

April 2011 Page 14 Statement of credentials VGGlobal

 Business Tax Services

Taxation
outsourcing ► Advice on tax planning opportunities
Accounting Payroll
outsourcing outsourcing
Outbound
Regulatory
► Structuring transactions to optimise fiscal benefits in tune
investment
services
Advisory
Transaction
Transaction
with commercial objectives
TARAS
Tax
tax Services
advisory
Business Tax ► Advice on routine and non-routine tax queries
Services
Indirect Tax International
International
Services tax
Tax Services ► Advice on business reorgansiation from a fiscal
Human Capital
Human capital
Services perspective
► Assistance in identifying tax exposures and suggesting
planning avenues
► Advice on maintenance of appropriate documentation;
preparation and review of various returns including wealth
tax, withholding tax and income tax
► Representation before Indian statutory and fiscal
Providing clients with
authorities; developing and implementing strategies for
a complete spectrum
quick resolution of issues
of tax and regulatory
services ► Assistance in Competent Authority proceedings under tax
treaties and assistance in obtaining rulings from the
Authority on Advance Rulings

April 2011 Page 15 Statement of credentials VGGlobal

 Business Tax Services

Taxation

Accounting
outsourcing
Payroll Regulatory services
outsourcing outsourcing
Outbound
Regulatory
investment ► Assistance in processing approvals from various
services
Advisory
TARAS
Transaction
Transaction regulatory authorities
Tax
tax Services
advisory
Business Tax
Services ► Advice on company law matters including capital structure,
Indirect Tax International
Services
International
tax
Tax Services
appointment of directors, managerial remuneration,
Human Capital
Human capital
Services dividend payments, etc
► Assistance in making necessary applications forms,
returns and other documents with the Registrar of
Companies and other Regulatory authorities
► Advice on exchange control implications of transactions
and processing exchange control approvals from the
Providing clients with Reserve Bank of India
a comprehensive
range of corporate
law and exchange
control services

April 2011 Page 16 Statement of credentials VGGlobal

 Business Tax Services

Taxation

Accounting
outsourcing
Payroll Inbound investment consulting
outsourcing outsourcing
Outbound
Regulatory
investment ► Advising on tax and regulatory issues related to investing
services
Advisory
TARAS
Transaction
Transaction in India
Tax
tax Services
advisory
Business Tax
Services ► Structuring of foreign investment into India
Indirect Tax International
International
Services
Human Capital
tax
Tax Services ► Advising on government policies and regulatory approvals
Human capital
Services
► Advising and assistance in formulating efficient investment
vehicle
► Assistance in processing approvals from the Foreign
Investment Promotion Board and Reserve Bank of India
► Identifying and addressing jurisdictional tax complexities

Assisting clients in
structuring investment
and obtaining
investment approvals

April 2011 Page 17 Statement of credentials VGGlobal

 Transaction Tax Services

Taxation

Accounting
outsourcing
Payroll Transaction structuring
outsourcing outsourcing
Outbound
Regulatory
investment
► Tax and regulatory structuring
services
Advisory
Transaction
TARAS Transaction
Tax
tax Services
advisory
► Corporate re-organisation plans
Business Tax
Services
Indirect Tax International
International
Services tax
Tax Services
Assurance
Human capital
services
Transaction management
► M&A advisory (in conjunction with Corporate Finance)
► Fiscal and regulatory diligence
► Post-deal matters

Carefully developing Transaction implementation

and executing
► Project management
transaction
strategies ► Transaction documentation
► Regulatory support

April 2011 Page 18 Statement of credentials VGGlobal

 International Tax Services

Taxation
outsourcing ► Advice on double tax treaties and foreign tax
Accounting Payroll
outsourcing
Outbound
outsourcing system/implications (in conjunction with our foreign
Regulatory
investment
services
Advisory
offices)
Transaction
Transaction
TARAS
Business Tax
Tax
tax Services
advisory ► Tax efficient structuring of overseas acquisitions,
Indirect Tax
Services operations and earnings
International
International
Services tax
Tax Services
Human Capital
Human capital
► Advice on cross border transactions
Services
► Advisory services in relation to the improvement/
effectiveness of the cross border ‘Supply Chain’ process
► International tax dispute resolution

We offer international tax

services that successfully
align all the different areas
of taxation into a benefit-
driven strategy that
improves the bottom line

April 2011 Page 19 Statement of credentials VGGlobal

 International Tax Services

Taxation

Accounting
outsourcing
Payroll Transfer Pricing
outsourcing outsourcing
Outbound
Regulatory
investment ► Transfer pricing planning
services
Advisory
Transaction
TARAS Transaction
Tax
tax Services
advisory
► Evaluation of alternative business structures from a transfer
Business Tax pricing perspective
Services
Indirect Tax International
International
Services tax
Tax Services
► Compliance documentation
Assurance
Human capital
services ► Assistance in all aspects of transfer pricing documentation
preparation and compliance

► Controversy management
► Providing assistance in tax audit managements, Competent
Authority negotiations, etc on account of transfer pricing disputes
“Thirty-eight percent of
respondents list transfer
pricing as the most
important item on the
agendas of their corporate
tax directors.”
Ernst & Young Global TP
Survey (2005-06)

April 2011 Page 20 Statement of credentials VGGlobal

 Indirect Tax Services

Taxation
outsourcing ► Export-import policy and customs duty
Accounting Payroll
outsourcing outsourcing
Outbound ► Service tax
Regulatory
investment
services
Advisory
TARAS
Transaction
Transaction ► R&D Cess
Tax
tax Services
advisory
Business Tax
Services ► Sales tax/VAT
Indirect Tax International
International
Services
Human Capital
tax
Tax Services ► Cenvat, excise duty
Human capital
Services
► Service tax octroi/ entry tax
► Sales tax, works contract tax and lease tax

► Specialised service offerings for:

Indirect taxes add
► EPC contracts
significantly to transaction
cost. It is therefore critical ► M&A transactions
to factor in such tax costs ► Indirect tax ‘health check’
upfront and through
appropriate planning,
reduce the costs to the
extent possible

April 2011 Page 21 Statement of credentials VGGlobal

 Tax Accounting and Risk Advisory Services
(TARAS)
Taxation
outsourcing Implementation & Advisory Services
Accounting Payroll
outsourcing outsourcing ► Assistance in preparation of tax provisions
Outbound
Regulatory
investment ► Reconciliation of deferred tax assets and liabilities
services
Advisory
Transaction
Transaction
including identification of:
TARAS
Tax
tax Services
advisory ► Book and tax differences;
Business Tax
Services ► Permanent and temporary differences; and
Indirect Tax International
International
Services tax
Tax Services ► Review of methodology adopted for valuation reserves
Human Capital
Human capital
Services ► Providing training on FAS 109/IAS 12/AS-22* concepts

FIN 48 Advisory Services

► Identification, recognition and measurement of Uncertain
Tax Positions (UTPs)
► SOX 404 advisory services
► Providing training on FIN 48 concepts
Assisting clients to
implement people, process Tax Risk Management
and technology changes to ► Tax strategy planning
create a more effective and ► Tax risk planning
sustainable tax function ► Alignment of tax with business strategies
for the future ► Risk reviews
► Training

April 2011 Page 22 Statement of credentials VGGlobal

 Outbound Investment Advisory

Taxation
outsourcing Outbound structuring
Accounting Payroll
outsourcing
Outbound
outsourcing ► Entity structuring
Regulatory
investment
services
TARAS
Advisory
Transaction
Transaction
► Structuring of international acquisitions
Tax
tax Services
advisory
Business Tax
Services
► International holding structure
Indirect Tax International
International
Services tax
Tax Services ► Post-acquisition structuring
Human Capital
Human capital
Services

Tax Effective Supply Chain Management (TESCM)

► Integrating tax and business supply chain
► Principal structures
► IP planning
Assisting clients in
optimising the tax India planning
effectiveness of their global ► India tax-deferral planning
investments and effectively
anticipate and manage ► Repatriation planning for mitigating India tax costs
potential tax risks ► Foreign tax credit issues
► Phase-out of export related (non-SEZ) incentives

April 2011 Page 23 Statement of credentials VGGlobal

Experience of the firm
What we can do for you

April 2011 Page 24 Statement of credentials VGGlobal

Experience of the firm
► Our practice evolved with the opening up of the Indian markets in 1991

► Our team comprises multi-skilled professionals who blend transactional experience and domain
industry knowledge in developing creative structures for our clients. Our domain industry knowledge
and experience also equips us to give advice on a plethora of business issues and the latest
developments in this industry space.

► Our focus on Audit, international tax and our in-depth understanding of the legal, regulatory and tax
regimes for funds in different jurisdictions has enabled us to be at the cutting edge of providing our
niche services to our clients.

April 2011 Page 25 Statement of credentials VGGlobal

Key Profiles

April 2011 Page 26 Statement of credentials VGGlobal

Key profiles

Ved Parkash Gupta Relevant Experience

Managing Partner ► Ved has conducted Concurrent Audit and Stock Audit of the Catholic
Syrian Bank for consecutive five years
New Delhi
E mail: [email protected] ► He is one of the most of prominent professional in consulting space in
India and is known for his creative solutions in the industry
► Ved leads the statutory audit of many multinationals companies
► He conducted due diligence on behalf of a leading global software
Ved holds a Bachelor’s degree in Commerce giant for the potential acquisition of a domestic Indian company
from Delhi University and qualified as a
► He has assisted in setup of various domestic and foreign venture
Chartered Accountant in 1982.
capital Fund in India
As the industry leader for firm’s practice, Ved ► He has extensive experience in handling Tax & regulatory issues in
has extensive experience of over 28 years in Finance Industry
Assurance and Advisory Business Services, ► Ved has conducted Corporate Tax Advisory, Structuring for both
servicing Indian and multinational telecom domestic and international clients
clients.
► He is a key member of Global Telecom Center (a knowledge base for
He also heads VGGlobal headquarters in the Asian Region).
New Delhi ► He is the key member of the firm and drives the firm strategies and
Knowledge base of the firm

April 2011 Page 27 Statement of credentials VGGlobal

Key profiles

Ritu Bansal Relevant Experience

Partner ► Ritu has conducted Concurrent Audit and Stock Audit of the Catholic
Syrian Bank for consecutive five years
New Delhi
E mail: [email protected] ► She is having an vide array of experience in Company Law, Indian
Exchange regulations and Audit matters
► Ritu has conducted statutory and internal audit of many multinationals
companies
Ritu holds a Bachelor’s degree in Commerce ► Ritu has conducted Corporate Tax Advisory, Structuring for both
from Delhi University and qualified as a domestic and international clients
Chartered Accountant in 1997.
► She is a key member of Global Telecom Center (a knowledge base
Ritu has extensive experience in Company for the Asian Region).
:Law and Audit Services. ► She is the key member of the firm and drives the firm strategies and
Knowledge base of the firm

April 2011 Page 28 Statement of credentials VGGlobal

Key profiles

Jatin Gupta Relevant Experience

► Jatin has conducted concurrent audit of Canara Bank, Central Bank
Tax and Regulatory Services of India.
New Delhi ► He has assisted in setup of various domestic and foreign venture
Mobile: +91 9891191000
E mail: [email protected]
capital Fund in India
► Nokia - Tax litigation, assistance in integration of network businesses
of Nokia and Siemens in India
Jatin is a Partner with the firm and heads the ► Nortel - Tax Compliance, advisory services and tax litigation
firm’s funds tax practice in India .
► Verizon - Assisted in structuring their Indian internet and international
He has extensive experience in advising long distance operations and in seeking NLD/ILD licenses from DoT.
clients in the communications and finance ► British Telecommunications - Structuring of investments in India,
sector. review of tax risks emanating from their Indian operations
Jatin has been actively involved in providing ► Bharti - Tax diagnostic review of tax positions and compliances
a comprehensive range of foreign investment ► Advising an Indian Telco in internal structuring of their operations for
consulting services to a host of multinational facilitating investment by a private equity player
companies. He has also developed ► Advising a global infrastructure company in relation to structuring of
expertise in undertaking tax due diligence their contract for supply of metro trains in India
exercises, advising on regulatory matters, ► Advising global insurance companies in relation to setting up their
consulting on acquisition of businesses and operations in India
structuring of transactions.
► Advised a leading Indian Telco in restructuring of their operations
including transfer of group holdings and merger of different telecom
circles

April 2011 Page 29 Statement of credentials VGGlobal

The VGGlobal Difference
Our truly defining knowledge capability

April 2011 Page 30 Statement of credentials VGGlobal

Thank you
Ved Gupta & Co
© 2011 Ved Gupta & Co.
All Rights Reserved.

www.vgglobal.co.in
www.chartered-accountantsindia.net