-
Digital Natives
Unlock growth with Grant Thornton Bharat's Digital Natives solutions. Customised support for tech-driven companies in healthcare, gaming, and more.
-
Business Consulting
Our business consulting specialists offer a comprehensive blend of strategic advisory services. We assess the business, industry, operating model, synergy, skill sets and vision of the organisation and recommend the way forward
-
Digital Transformation Services
Grant Thornton’s digital transformation services help traditional businesses digitalise their business models with cloud technology, IoT consulting, app development and more DigiTech solutions.
-
Human Capital Consulting
Our Human Capital Consulting team harnesses technology and industry expertise to assist in constructing adaptable organisations with transparency, fostering productive and value-driven workforces, and inspiring employees to engage meaningfully in their tasks.
-
Production Linked Incentive Scheme
Production-linked Incentive Scheme by the Indian government is aimed at boosting manufacturing. Grant Thornton Bharat offers varied services across sectors to help businesses avail of this scheme.
-
Public Sector Advisory
Our Public Sector Advisory team has focused streams, aligned with the core priorities of the Government of India. We are responsible for providing innovative and customized technical and managerial solutions.
-
Tech Advisory
We have amalgamated Digital Transformation, IT Advisory & Information Management and Analytics into a new offering, DigiTech.
-
Direct Tax services
Our tax specialists offer a comprehensive blend of tax services, tax litigation, regulatory and compliance services, helping you navigate through complex business matters.
-
Indirect Tax Services
Get tax services by leading tax firm Grant Thornton India. Our indirect tax services include consulting, compliance and litigation services for corporate, international and transaction tax
-
Transfer pricing services
Our transfer pricing services experts provide a range of services from provision of APA services to handling large global assignments including Country by Country reporting.
-
US Tax
At Grant Thornton, we help individuals and dynamic companies deal with US tax laws, which are one of the most complicated tax legislations across the world.
-
Financial Services - Tax
Best financial advisory services, tailored for small and large businesses by the experts having comprehensive knowledge of domestic laws and access to multifaceted tools to provide a valuable results.
-
Financial Reporting consulting services
Our experts have significant hands-on experience in providing IFRS/US GAAP services, end-to-end solutions and support services to fulfil financial reporting requirements.
-
Fund accounting and financial reporting
International operations often lack standardisation and have varied local reporting formats and requirements. Our experts can offer proactive insights, practical guidance, and positive progress and help meet regulatory timeframes.
-
Compliance and Secretarial Services
Our experts can assist in overhauling the entire compliance machinery of the organisation through evaluation of the applicable statutory obligations, monitoring of adequate governance controls, reporting and providing ongoing support.
-
Global People Solutions
As businesses transcend borders, both domestic and global considerations need equal attention. Our interim CFO and financial controller support services help organisations meet the business vision.
-
Finance and accounting outsourcing
Our accounting experts assist organisations in managing their accounting and reporting. Our dedicated Integrated Knowledge and Capability Centre (IKCC), allows us to service both the domestic and global markets efficiently and cost-effectively
-
Compliance Management System
We have automation solutions for you that will allow meeting government requirements and remain diligent, which when failed, can lead to penalties and loss in revenue.
-
IKCC: Grant Thornton's Shared Service Centre
The India Knowledge and Capability Centre (IKCC), aimed at delivering solutions by developing capabilities, has completed four years of its journey.
-
Global compliance and reporting solutions
At Grant Thornton Bharat, we meet the challenges of our clients and help them unlock their potential for growth. Our professionals offer solutions tailored to meet our clients’ global accounting and statutory reporting requirements. With first-hand experience of local reporting requirements in more than 145+ locations worldwide, we provide seamless and consistent international service delivery through a single point of contact.
-
Related Party Transactions Governance
Grant Thornton Bharat's comprehensive related-party transaction services ensure good governance by adhering to regulatory requirements, promoting transparency, and providing robust policies for compliance, documentation, and accountability in related-party transactions.
-
Private Client Services
Grant Thornton Bharat Private Client Services offers tailored advisory for family-owned businesses, focusing on governance, compliance, tax, succession planning, and family office structuring to sustain wealth and preserve legacies across generations.
-
GTMitra: Tax & Regulatory Tool
GTMitra, a specialised tax and regulatory tool by Grant Thornton Bharat, supports multinational businesses in understanding laws and regulations for effective growth strategies.
-
Labour codes
Labour codes solutions help you transition through the new legislation. At Grant Thornton, we help businesses divide their approach to make sure a smooth transition.
-
Alerts
At Grant Thornton India, with the help of our tax alerts, we help to provide updates on how to minimise your tax exposure and risks.
-
Cyber
In today’s time, businesses have gone through large transformation initiatives such as adoption of digital technologies, transition to cloud, use of advanced technologies et al.
-
Governance, Risk & Operations
Our Governance, Risk and Operations (GRO) services encompass Internal Audit, Enterprise Risk Management, Internal Financial Controls, IT advisory, Standard Operating Procedures and other services.
-
Risk analytics
Grant Thornton Bharat’s CLEARR Insights is a state-of-the art data analytics platform that will help you in seamless data analysis and efficient decision-making.
-
Forensic & Investigation Services
The team of forensic advisory services experts consists of the best intelligence corporate experts, and fraud risk, computer forensic experts to deliver most effective solutions to dynamic Indian businesses.
-
ESG consulting
Grant Thornton Bharat offers holistic ESG consulting solutions for sustainable business outcomes. With industry expertise and AI technology, we drive long-term value.
-
Transaction Tax Services
Our transaction tax experts understand your business, anticipate your needs and come up with robust tax solutions that help you achieve business objectives ensuring compliance and efficiency
-
Deal Advisory
Unlike other M&A advisory firm in India, we offer deal advisory services and work exclusively with controlled and well-designed strategies to help businesses grow, expand and create value.
-
Due Diligence
Grant Thornton’s financial due diligence services are aimed at corporate looking for mergers and acquisitions, private equity firms evaluating investments and businesses/promoters considering sale/divestment.
-
Valuations
As one of the leading valuation consultants in India, Grant Thornton specializes in all the aspects of the process like business valuation services, financial reporting, tax issues, etc.
-
Overseas Listing
Overseas listing presents a perfect platform for mid-sized Indian companies with global ambitions. Grant Thornton’s team of experts in listings, work closely with clients during all stages.
-
Debt & Special Situations Solutions
Grant Thornton Bharat offers specialist debt and special situations consulting services, including restructuring, insolvency, and asset tracing solutions.
-
Financial Reporting Advisory Services
Grant Thornton Bharat Financial Reporting Advisory Services offer end-to-end solutions for complex financial requirements, including GAAP conversions, IPO support, and hedge accounting advisory, ensuring accurate financial reporting and compliance.
-
Financial Statement Audit and Attestation Services
Grant Thornton Bharat offers customised financial statement audit and attestation services, ensuring impeccable quality and compliance with global standards. Our partner-led approach, technical expertise, and market credibility ensure effective solutions for your business needs.
- Agriculture
- Asset management
- Automotive and EV
- Aviation
- Banking
- Education and ed-tech
- Energy & Renewables
- Engineering & industrial products
- FinTech
- FMCG & consumer goods
- Food processing
- Gaming
- Healthcare
- Urban infrastructure
- Insurance
- Media
- Medical devices
- Metals & Mining
- NBFC
- Pharma, bio tech & life sciences
- Real estate and REITs
- Retail & E-commerce
- Specialty chemicals
- Sports
- Technology
- Telecom
- Transportation & logistics
- Tourism & hospitality
-
Article Agriculture and Budget: Immediate compulsions and long-term visionGovernment focuses on sustainable agriculture, digital infrastructure, and market intelligence to enhance productivity and global competitiveness in agriculture.
-
Article Union Budget 2024 expectations: Building resilience for consumer industryUnion Budget 2024 expectations: Building resilience for consumer industry
-
Thought Leadership Grain to gain: Impact of corn on India’s biofuel revolutionExplore Grant Thornton insights on unlocking India’s Energy Potential on Corn-Based Ethanol as a sustainable fuel solution.
-
Case study Transforming agriculture: The rise of Drone DidisDiscover how Grant Thornton Bharat's Drone Didis initiative empowers rural women and transforms agriculture with drone technology. Learn more about this success.
-
India-UK
India-UK
As Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2023-24 on February 1, 2023, expectations abound, especially as this will be the last budget before the 2024 general elections.
The Indian economy has recovered well post-COVID-19 but global headwinds are not encouraging. The IMF has projected that one-third of the global economy will be in recession in the year 2023. The US and the EU are facing economic slowdowns, the Russia-Ukraine war is not waning, and all these factors will have some ripple effects on India.
Against this background, corporate and individual taxpayers expect and deserve some relief in the upcoming Budget.
Corporate Expectations
Tax Deduction at Source
1) Benefits or perquisites
Many interpretational issues have emerged on TDS provisions on benefits or perquisite since their introduction in the Finance Act 2022. The government had provided some clarifications to address these challenges, but many issues remain unaddressed.
* The term “benefit or perquisite" is not defined
* There is no detailed guidance on valuation methodology
* Very low threshold limit of INR 20,000
* No option for lower withholding tax certificate
Some clarity on these matters will obviate unwarranted litigation and provide some relief to taxpayers.
2) Professional Services Vs Technical Services
The applicable rate of TDS for Fees for Technical Services (FTS) is 2 per cent whereas the TDS rate for Fees for Professional Services (FPS) is 10 per cent. However, the definitions of FTS and FPS under the Income Tax Act are wide enough to create an overlap between the two, which leads to interpretational ambiguities. Appropriate clarifications would be welcome to avoid unnecessary litigation.
3) TDS Obligation On Employee Stock Option Plan (ESOP)
With a view to address the cash flow of employees receiving ESOPS, the Finance Act 2020 provided for deferment of TDS obligations on ESOPs offered by eligible start-ups to its employees. However, such deferment is available for only four assessment years, it is suggested that TDS obligation should only arise on sale of such shares.
Virtual Digital Assets (VDA)
The Finance Act 2022 introduced tax on transfer of VDA. The tax regime on such assets is understandably harsh but a couple of aspects need to be looked at urgently. Firstly, the definition of VDA is extremely wide and in its current form, may include any digital or online asset that may or may not be generated by way of cryptographic means. Secondly, while computing capital gains, only cost of acquisition is allowed as deduction. However, there may be various other direct expenses like cost of set-up for performing mining operations.
Some clarity on both these issues is desirable.
Minimum Alternate Tax (MAT)
There is conflicting jurisprudence available on transfer of MAT credit to the resulting company in case of demerger. Clarifications on this issue will save the taxpayer from the anxiety of uncertainty.
Individual Expectations:
1) Home Office Allowance
Under the new normal of hybrid working models, employees are constrained to set up home offices. Many employers reimburse some of these expenses but the reimbursement becomes taxable in the hands of the employee leading to financial hardship. The reimbursement amount would generally would have been tax deductible in the hands of the employer if the expense had been directly incurred, hence a deduction in the hands of the employee would be a step in the interest of justice.
2) The Optional Tax Regime for Individual/ HUF
The optional tax regime does not permit Section 80C deductions. Hence, it has unintended consequences of dis-incentivising savings/investment. Section 80C deductions should also be made available even to taxpayers exercising the optional tax regime.
The finance minister is aware that the expectations of various stakeholders run high this budget season. It might be difficult to balance the challenges of current inflation, the geopolitical situation, the never-ending pandemic, and announced economic focus areas while keeping in mind the taxpayers’ expectations!
This article was originally published on News18.com.