-
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 advisory, tax litigation, regulatory and compliance services, helping you navigate through complex business matters.
-
Indirect Tax Services
Get tax advisory service by leading tax firm Grant Thornton India. Our indirect tax services include advisory, 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
Related Party Transactions Governance
-
Private Client Services
Private Client Services
-
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.
-
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.
-
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.
-
Recovery and Reorganisation
Grant Thornton International Ltd. is a leader in offering top corporate restructuring and insolvency services by experts in managing distressed business operations.
-
Financial Reporting Advisory Services
Financial Reporting Advisory Services
-
Financial Statement Audit and Attestation Services
Financial Statement Audit and Attestation Services
-
The financial compass: Decoding the world of insurance
Explore the regulatory updates in the Indian insurance sector from August to November 2023, covering unclaimed policy amounts, and key industry challenges around transition to risk-based capital.
-
FinTech Consulting Services
Leveraging our FinTech Consulting experience, we employ our proven approach in process reviews, tech risk management, and third-party audits for Indian financial services clients.
-
India-UK
India-UK
Despite all the fanfare around the law to unearth unaccounted money and assets held by Indians abroad, the first attempt to get the owners of such wealth declare it has been a damp squib. “It has not even skimmed the surface (of the overall unaccounted wealth held by Indians abroad),” said Riaz Thingna, partner at Walker Chandiok and Co.
During the three-month compliance window that was given to disclose unaccounted wealth stashed abroad, only 638 declarations amounting to Rs 3,770 crore were made, according to a statement.
Though there are no authentic estimates of Indian wealth held abroad illegally, various gustimates suggest that it could be 1.5 times of the Indian economy.
Revenue secretary Hasmukh Adhia has said there would be no extension of the scheme to enable more people to declare there unaccounted for foreign assets.
Thingna said main reasons for tepid response was high tax and penalty that would have been imposed on those assets and fear of harassment under various other laws later on.
According to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, declarants would have to pay 30 per cent of declarations as tax and another 30 per cent as penalty. “It is a high cost to take,” Thingna said.
He said the law also does not provide complete immunity. The immunity under the law is from prosecution only under I-T Act, Wealth Tax Act, Companies Act and Customs Act. But action can be initiated against them under the Indian Penal Code and even Sebi Act if the persons involved are directors of listed firms. “People are worried that the information disclosed during could be used to victimise or harass them later on,” he said.
Those not using the compliance window will lose the entire asset, pay 20 per cent more on it and even face a jail-term if government gets to know of their illegally-held foreign assets from other sources.
When the compliance window was opened the government ran an extensive campaign to get people to pay up by holding both the carrot and the stick.
Senior tax department officials spoke at all industry gatherings and even pointed to pacts that will make hiding unaccounted assets abroad difficult. It pointed to a pact with the US under its domestic law, Foreign Account Tax Compliance Act, and a pact among major economies and tax havens that will facilitate flow of financial information.
Many chose to take the risk of not disclosing and may have used the long period that was available between when the government announced its intent to bring the black money bill in February and now to conceal their foreign assets under complex structures, Thingna said. They would have taken recourse to complex and multi-layered corporate and trust structures, for these structures are difficult to unravel, he said.
Other route for escaping prosecution under the black money law is to transfer that asset to a family member who is a NRI as law is only applicable to resident Indians.
The article appeared in the Financial Chronicle.