About Us

Hem Sandeep & Co. came into existence in September 1989, promoted primarily by Mr. Hem Chand Jain & Mr. Sandeep Jain.

The firm is being managed by practicing thirteen full time Chartered Accountants who bring a combined experience of over 2 decades in the field of Accounting, Income Tax, Corporate Laws, Auditing, Business Planning, Restructuring and Management Consultancy.

Objective:

To deliver an ethical and comprehensive range of services so as to develop an enduring relationship with client and to stand as a reliable professional service provider for all stakeholders of the society.

Origin

Hem Sandeep & Co. is primarily having offices at the following places:

1 1961,Katra Khushalrai, Kinari Bazar,Chandni Chowk,Delhi-110006
2 G-59-A,Sanjay Gandhi Puram, Faizabad Road, PO:Indira Nagar, Lucknow-226016
3 B-18, Shubhalaya Pearl,Near Nikhil Phase-3, Bawadia Kalan,Hoshangabad Road, Bhopal-462026
4 331, Block II Ganga Shopping Complex, Sector-29, Noida-201301
5 22 PRATIBHA COLONY ALIGARH 202001
6 F 65 KAMLA NAGAR, DELHI - 110007
7 C/o JMW India Pvt Ltd, Near SIDCO office, Phase-1, SIDCO Industrial Complex, Bari Brahmana, Jammu, Jammu & Kashmir -181133
8 603 Eco Star, Vishweshwar Nagar, Goregaon East Mumbai-400063

Organizational Setup

Hem Sandeep and Co. has completely achieved its objectives framed therewith and moving toward the maintenance of the organizational objective and moving toward an innovative platform. Our clients are spread all over India, mainly in Delhi and NCR. We have created various departments for delivering a quality service keeping in mind the areas of Expertise of members. All the work distribution process is looked after by highly experienced management team. The whole network of various departments is integrated among them in a well developed computer environment.

The firm today is over 35 people strong organization with a list of impressive clientele, all of them highly satisfied with our services. We work with technology that can help global businesses meet their needs. Our business practices comprise of multiple processes and methodologies to entail maximum benefits out of our projects and do a smooth conversion management and run subsequent operations effectively for our customers.

Experience and Specialization

Hem Sandeep & Co. is having a comprehensive experience of more than two decades in field of Accounting, Income Tax, Corporate Laws, Auditing, Business Planning, Business Restructuring, Management and Infrastructure Projects Consultancy and more than 22 years of banking Experience of its members.

Hem Sandeep & Co. specializes in auditing taxation financing Company law matters income tax, service tax, Excise, VAT, FEMA, Foreign direct investment matters, Corporate Governance matters, and matters related to IFRS, US GAAP, SAS-70 and compliance with Sarbanes Oxley act. In addition the firm is also providing services of financial consultancy and management consultancy. Our clientele includes public sector undertakings like NTPC, Power grid, leading banks like PNB, SBI etc, PFC etc and private Sectors in India and abroad.

Specialized in the field of Auditing and Internal Control
Auditing: Hem Sandeep & Co. has got vast experience in conducting audit for public as well as private sector through auditing and assurance division. The experienced staff of qualified Chartered Accountant is capable enough to conduct and assist in conducting statutory, internal audit or C&AG Audit. Hem Sandeep & Co. through its dedicated QC division which has designed successfully important quality for statutory and internal audit for PSU(s) both banking, none banking that outlines successful and timely accomplishment of the task by the audit staff.

Designing & Implementation of internal Control:
Internal Control: It is one of the principal means by which risk is managed & helps to ensure that management directives are carried out. It helps to ensure that necessary actions are taken to address risks to achievement of the entity’s objectives. They include a range of activities as diverse as approvals, authorizations, verifications, reconciliations reviews of operating performance, security of assets and segregation of duties. An internal control system encompasses the policies, processes, tasks, behaviors and other aspects of the client that taken together:

  • Facilitate its effective and efficient operation by enabling it to respond appropriately to significant business, operational, financial, compliance and other risks to achieving the company’s objectives. This includes the safeguarding of assets from inappropriate use or from loss and fraud and ensuring that liabilities are identified and managed;
  • Help ensure the quality of internal and external reporting. This requires the maintenance of proper records and processes that generate a flow of timely, relevant and reliable information from within and outside the organization;
  • Help ensure compliance with applicable laws and regulations and also internal policies with respect to the conduct of business.

Its Designing & Implementation: In determining the policies with regard to internal control, and thereby assessing what constitutes a sound system of internal control in the particular circumstances of the client.
Hem Sandeep & Co. adheres to following factors:

  • The nature and extent of the risks facing the client;
  • The extent and categories of risk which it regards as acceptable for the client to bear;
  • The likelihood of the risks concerned materializing ;
  • The client’s ability to reduce the incidence and impact on the business of risks that do materialize; and
  • The costs of operating particular controls relative to the benefit thereby obtained in managing the related risks.

Its Operation & Maintenance: The operation and monitoring of the system of internal control is undertaken by the team of HSC who possess the necessary skills, technical knowledge and understanding of the client and the industries and markets in which it operates.

Accounts: Through its Accounts Division, Hem Sandeep & Co. maintains the book of accounts for its client based in India & Overseas from the last 13 Years. The accounting personnel of HSC strictly adhereto the accounting standards & principals by following accounting cycle sequentially, methodically & in a planned manner, which includes the following:

  1. Collect and analyze data from transactions and event: As transactions and events related to financial resources occur, they are analyses with respect to their effect on the financial position of the company.
  2. Journalize transactions: After collecting and analyzing the information obtained in the first step, the information is entered in the general journal, which is called the book of original entry.
  3. Post to general ledger: The general entries are posted to the general ledger, which is organized by account. All transactions for the same account are collected and summarized; for example, the account entitled “sales” will accumulate the total value of the sales for the period.
  4. Prepare an unadjusted trial balance: At the end of the period, double -entry accounting requires that debits and credits recorded in the general be equal .As transactions are recorded in the general journal and subsequently posted to the ledger, all amounts recorded in the debit side of accounts (i.e.; recorded on the left side) must equal all amounts recorded on the credit side of accounts (i.e.; recorded on right). Preparing an unadjusted trial balance tests the equality of debits and credits as recorded in the general ledger .If unequal amounts of debits and credits are found in this step, the reason for the inequality is investigated and corrected before proceeding to the next step. Additionally, this unadjusted trial balance provides the balances of all the accounts that may require adjustment in the next step.
  5. Prepare adjustments : Period -end adjustments are required to bring accounts to their proper balances after considering transactions and/or events not yet recorded . Under accrual accounting, revenue is recorded when earned and expenses when incurred .Thus ,an entry may be required on the books .Similarly, an adjustment may be required to record an expense that may have been incurred but not yet recorded .
  6. Prepare an adjusted trial balance : As with an unadjusted trial balance ,this step tests the equality of debits and credits .However, assets, liabilities, owner’s equity ,revenues , and expenses will now reflect the adjustments that have been made in the previous step. If there should be unequal amounts of debits and credits or if an account appears to be incorrect.
  7. Prepare Financial Statement: financial statement is prepared using the corrected balances from the adjusted trial balance. These are one of the primary output of the financial accounting system.
  8. Close the accounts: Revenue and Expenses are accumulated and reported by period, monthly, quarterly, or yearly. To prevent their not being added to or commingled with revenue and expenses of another period, they need to be closed out-that is given zero balance at the end of each period. Their net balances which represent their net profit or net losses for the period are transferred in to owner’s equity. One revenue and expenses accounts are closed, the only accounts that has balances are the assets, liabilities and owners equity. Their balances are carried forward to the next period.
  9. Prepare a post- closing trial balances: the purpose this final step is two-fold: to determine that all revenue and expenses accounts have been closed properly and to test the equality of debit and credit balances of all the balance sheet accounts, that is, assets, liabilities and owners’ equity.

We are also instrumental in designing and implementation of accrual base Double Entry Accounting System for our clients which include following services:

  • Valuation of Assets & Liabilities.
  • Preparation of balance sheet.
  • Investment register like fixed assets register current long term liabilities registered.
  • Investment Register etc.
  • Imparting training capacity building and institutional strengthening of the clients.
  • Implementation of Accrual base double entry Accounting System and Computerization of accounting system using the accounting Software packages like tally etc.
  • Supervision and monitoring vouching and data feeding into new system by the finance end.
  • Accounts personals of the client
  • Preparation of bank reconciliation budgets and there execution.
  • Preparation of financial statements along with all the schedules and notes to account as at the year end.

Taxation: through the experience and qualified staff in its tax & regulatory division, hem Sandeep and Co. got expertise in handling the tax related matters in relation to Income tax, Service tax etc, which includes a range of services mentioned below:

  • Annual return with ROC in form No. 23B, 23AC, 23ACA, 20B etc.
  • Service tax retunes and timely payment of service tax on monthly or quarterly basis, as the case may be.
  • Registration of charitable and religious societies for availing exemptions under section 12 & 13 of income tax act 1961.
  • Providing expert advice to foreign clients on International Taxation in terms of Double Taxation avoidance Agreement, formation & registration of companies in India for foreign resident clients etc.

We provided our taxation services to various PSUs like United India Insurance Co Ltd, National Insurance Co Ltd, National Projects Construction Corp. Ltd,Rashtriya Mahila Kosh,South Eastern Coalfields Ltd.

 
     
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