Mandvi Soni

(Review Schedule 16 - Operating Expenses); (Review Employees expense reimbursement, Dealer Commissions and Incentives to employees); (General ledger review)

Reviewed LCs, BGs, Import Bills, Packing Credits, Merchant Banking Transactions, Forward Contracts, FPI and ODI, Telegraphic Transfers and review of Remittance...etc. as per FEMA Act 1999 and relevant Rules, RBI's Master Circular and Trade Policy, DGFT Guidelines and Incoterms at Trade Finance Department, IDBI bank, Mid Corporate Branch ( 6 months )

Central Statutory Bank Audit of Punjab National Bank at multiple levels including (LCB; Zone; Divisions at HO) across various locations in India. Review of Advances as per IRAC & Provisioning norms issued by RBI. Appraisal of Loan Sanction & Drawing Power limit Preparation and submission of Long Form Audit Report (LFAR). Exploring accounts for checking of correctness of interest reversal in NPA accounts and updating the NPA flag in FINACLE etc.

Preparation of TP Study Report under section 92E of Income Tax Act 1961 and selection of suitable method for determination of arm's length price as per the guidelines, rules and regulations of OECD.

Internal Audit: Real Estate Developers including Upasana Colonizers & Resorts Pvt. Ltd., and Akshat Apartments pvt. ltd. Concepts of Running Bills, reading of various contracts between Developers, landowners, and Contractors, and P2P process learnt. Checked Salary and Wages with relevant Internal controls including site visit. Prepared the Internal Audit Report and Discussion with Key Managerial Personnel of the Company.

Tax Audit and preparation of Tax Audit Reports as per Sec 44ab and 44ad of Income Tax Act 1961. Reporting of the international transactions in Form 3CEB.

Verification of revenue recognized (Relevant Ind AS 115) Verification of fixed asset and depreciation charged (Relevant Ind AS 16) Trend Analysis of Expenditure to discover any abnormal fluctuation (SA 520) Reporting under CARO,2016 and 2020(PPE, Loan to directors, Related party transaction) along with opinion as per SA 700 & 705. Compliance with Companies Act, 2013(Sec 185,186,188)

Learned concept of Branch Accounting and IUTs. Worked on GSTR Filings, GSTR Reconciliation, Challans Creation

New GST registrations, Filling of Income Tax returns and TDS returns, PF withdrawal...etc. Industry came across while Statutory and Tax Audit includes Hospital, Gemstone Job Workers, Jewelry Designing Institute, Manufacturing and Assembling parts of Laser cutting and 3D printing Machine, textile printing, Steel...etc.