Our Services
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PSK is a pioneer in professional production accounting services. Since 2016, we have successfully managed over 175 projects, including feature films, web series, ad films, and docu-series, encompassing a wide range of sizes and complexities. With the rise of international studios and OTT platforms, the importance of reporting and compliance management has significantly increased. Our leadership team understands the critical processes required and has implemented successful systems to meet these compliance and reporting standards.
Additionally, PSK has secured incentives from the Ministry of Information & Broadcasting, Government of India, administered by NFDC/FFO. The successful disbursement of these incentives depends on the outcome of audits conducted by NFDC-appointed auditors. Our efficient processes and management make the audit process smoother and more audit-friendly.
PSK provides the following services
- Virtual CFO services
- Advisory on agreement drafting, tax risk implications, and mitigation measures
- Processing large volumes of data
- Making timely payments to suppliers in accordance with established processes and authority matrix
- Supporting production teams by managing large volumes of data
- Managing day-to-day compliances for production houses during payments and invoice booking
- Ensuring compliance with GST laws and TDS implications
- Advising on withholding tax implications for international remittances with quick turnarounds, including interacting with international crew members to provide support and comfort
- Generating accountant's cost reports and providing variance reports
- Assisting in obtaining state subsidies
Statutory Audits
We strive to provide high-quality audit services to our clients, with extensive experience in conducting statutory audits for private companies and public sector undertakings. Our audit processes ensure comprehensive coverage of accounting standards and auditing standards before providing an audit opinion. We also focus on understanding the client's overall business to offer constructive guidance and support.
Management & Internal Audits
Internal audit is an independent management function involving continuous and critical appraisal of the entity to suggest improvements and strengthen corporate governance. We offer risk-based internal audit services for various organizations.
Review and Testing of Internal Financial Controls
Directors/Designated Partners have the primary responsibility to ensure the truth, fairness, accuracy, and appropriateness of financial statements. We provide assurance services to board members for compliance with Internal Controls Over Financial Reporting as intended by the Board/regulatory framework.
Risk Assurance
Businesses operate in risk environments that can be mitigated and managed. We analyze existing processes, policies, systems, and controls to advise clients on mitigating risks and setting up internal financial controls to comply with the Companies Act, 2013.
Advisory on Withholding Taxes
Producers face several challenges during film/series production when making foreign remittances. Our team engages with stakeholders to obtain correct documentation, explore DTAA benefits, certify for banking purposes, and review tax clauses in agreements. Our partner Adinath interacts with foreign contributors to provide comfort and support.
Preparation and Filing of Income Tax Returns
We provide detailed updates to clients about changes in tax laws and provisions, proactively planning their tax needs.
Tax Audits
We undertake tax audits under the Income Tax Act, 1961, helping clients with their compliance needs.
Representation Before Tax Authorities
We handle income tax scrutinies and assessments on behalf of our clients.
Taxation of Non-Residents We assist NRI clients with tax planning, repatriation of funds, facilitating investments in India, obtaining FEMA clearances, and other services linked to Double Taxation Avoidance Agreements.
Transfer Pricing Studies
We assist clients with annual transfer pricing studies, benchmarking studies, and liaising with tax authorities regarding assessments and disputes.
GST Advisory
We assist clients with GST migration, managing monthly compliances, identifying mismatches, responding to notices, handling GST audits, and providing legal litigation support.
