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Terms of Service

V Viswanathan Associates

Chartered Accountants & Professional Service Providers

FRN: 013713S | IBBI Registered Valuer | CFE

Effective Date: January 15, 2025

Legal Compliance Statement

These Terms of Service are governed by Indian law including the Chartered Accountants Act 1949, Companies Act 2013, Income Tax Act 1961, GST Act 2017, Information Technology Act 2000, Consumer Protection Act 2019, and all applicable professional standards issued by ICAI and IBBI.

Table of Contents

1. Agreement Acceptance 2. Service Definitions 3. Professional Standards 4. Client Obligations 5. Fee Structure & Payment 6. Confidentiality & Privacy
7. Liability & Indemnification 8. Intellectual Property 9. Termination 10. Dispute Resolution 11. Regulatory Compliance 12. Contact & Amendments

1 Agreement Acceptance

By engaging V Viswanathan Associates ("the Firm," "we," "us," or "our") for professional services, accessing our website, or communicating with our representatives, you ("Client," "you," or "your") acknowledge that you have read, understood, and agree to be bound by these Terms of Service.

Formation of Professional Relationship

Engagement Methods

  • • Written Engagement Letter: Formal service agreement executed by both parties
  • • Electronic Agreement: Digital acceptance through our website or email
  • • Implied Engagement: Commencement of services following mutual understanding
  • • Continuing Services: Ongoing professional relationship for recurring services

Legal Capacity Requirements

  • • Individual Clients: Must be 18+ years of age with legal capacity
  • • Corporate Clients: Properly incorporated with valid authorization
  • • Partnership Firms: Registered partnerships with partner consent
  • • Authorized Representatives: Power of attorney or board resolution required

Important Legal Notice

These Terms of Service constitute a legally binding agreement. If you do not agree with any provision, please discontinue use of our services immediately and contact us to discuss alternative arrangements. Continuing to use our services after any modifications indicates your acceptance of the updated terms.

2 Service Definitions

Assurance Services

  • • Statutory audit under Companies Act 2013
  • • Tax audit under Section 44AB
  • • Internal audit and risk assessment
  • • Due diligence and investigation
  • • Forensic audit and fraud examination
  • • Compliance audit and certification

Tax Advisory

  • • Income tax return preparation and filing
  • • Tax planning and optimization strategies
  • • GST registration and compliance
  • • International tax and DTAA benefits
  • • Transfer pricing documentation
  • • Appeals and litigation support

Corporate Services

  • • Company registration and incorporation
  • • Startup valuation and ESOP services
  • • Virtual CFO and financial advisory
  • • ROC compliance and annual filings
  • • Business restructuring and M&A
  • • Investment advisory and fundraising

Service Scope and Limitations

What We Provide

  • • Professional services in accordance with ICAI standards
  • • Expert advice based on current laws and regulations
  • • Timely delivery within agreed timelines
  • • Confidential handling of client information
  • • Regular updates on regulatory changes
  • • Quality assurance and professional review

Service Limitations

  • • Services limited to our areas of professional expertise
  • • Advice based on information provided by clients
  • • Cannot guarantee specific outcomes or results
  • • Subject to applicable laws and professional standards
  • • May require additional approvals from regulatory bodies
  • • Excludes legal advice or representation in courts

3 Professional Standards

ICAI Code of Ethics Compliance

Fundamental Principles

  • • Integrity: Honesty and straightforward conduct in all professional relationships
  • • Objectivity: Professional judgment free from bias, conflict, or undue influence
  • • Professional Competence: Maintaining current knowledge and required skill levels
  • • Due Care: Diligent application of technical and professional standards
  • • Confidentiality: Respecting information confidentiality and privacy

Quality Assurance

  • • Regular peer review and quality control processes
  • • Continuing professional development and training
  • • Adherence to Standards on Auditing (SA)
  • • Compliance with professional pronouncements
  • • Independent review of significant engagements

IBBI Valuation Standards

Valuation Methodology

  • • Compliance with IBBI Valuation Standards
  • • International Valuation Standards (IVS) adoption
  • • Appropriate valuation approaches and methods
  • • Market evidence and comparable analysis
  • • Risk assessment and discount rate determination

Professional Requirements

  • • Valid IBBI registration and license maintenance
  • • Annual continuing education requirements
  • • Professional indemnity insurance coverage
  • • Code of conduct and ethical standards
  • • Regular supervision and quality reviews

Certified Fraud Examiner Standards

Investigation Standards

  • • ACFE Code of Professional Standards compliance
  • • Evidence collection and preservation protocols
  • • Interview techniques and documentation standards
  • • Report writing and communication guidelines
  • • Legal and ethical investigation boundaries

Professional Conduct

  • • Objectivity and independence in investigations
  • • Confidentiality and discretion requirements
  • • Continuing education and skill development
  • • Professional liability and insurance coverage
  • • Coordination with legal and regulatory authorities

4 Client Obligations

Information and Documentation

Required Information

  • • Complete and Accurate Data: All relevant financial and business information
  • • Timely Provision: Information provided within agreed timelines
  • • Legal Documents: Valid identity proofs, registrations, and authorizations
  • • Financial Records: Books of accounts, bank statements, and supporting documents
  • • Regulatory Filings: Previous returns, assessments, and correspondence

Client Responsibilities

  • • Maintain proper books of accounts and records
  • • Provide access to relevant personnel and systems
  • • Disclose all material facts and transactions
  • • Inform of any changes affecting the engagement
  • • Cooperate fully with our professional team

Payment and Financial Obligations

Payment Terms

  • • Professional fees as agreed in engagement letter
  • • Payment within 30 days of invoice date
  • • Additional charges for out-of-scope work
  • • Reimbursement of direct expenses and costs
  • • Interest on overdue amounts at 24% per annum

Default Consequences

  • • Suspension of services for non-payment
  • • Right to retain documents until payment
  • • Legal action for recovery of dues
  • • Reporting to credit agencies if applicable
  • • Termination of engagement for material breach

Regulatory Compliance

Clients must ensure compliance with all applicable laws and regulations. We provide professional advice, but ultimate responsibility for compliance rests with the client.

Client Compliance Duties

  • • Follow all applicable tax laws and regulations
  • • Maintain required licenses and registrations
  • • File returns and reports within due dates
  • • Respond promptly to regulatory notices
  • • Implement recommended internal controls

Our Support Role

  • • Professional advice on compliance matters
  • • Preparation and filing of required documents
  • • Updates on regulatory changes and deadlines
  • • Representation before regulatory authorities
  • • Training and guidance on best practices

5 Fee Structure & Payment Terms

Fee Structure

Fixed Fee Services

  • • Company registration and incorporation
  • • GST registration and basic compliance
  • • Standard tax return preparation
  • • Annual compliance filings
  • • Basic bookkeeping services

Time-Based Services

  • • Audit and assurance services
  • • Tax advisory and planning
  • • Due diligence and investigations
  • • Appeals and litigation support
  • • Complex compliance matters

Value-Based Services

  • • Startup valuation services
  • • Business restructuring advice
  • • M&A transaction support
  • • Strategic financial advisory
  • • Investment and fundraising support

Payment Terms

Standard Payment Terms

  • • Net 30 days from invoice date
  • • Advance payment for new clients
  • • Monthly billing for ongoing services
  • • Progress billing for large engagements
  • • Immediate payment for urgent services

Accepted Payment Methods

  • • Bank transfer (NEFT/RTGS/IMPS)
  • • Cheque payments (local/outstation)
  • • UPI and digital wallet payments
  • • Credit/debit card payments
  • • Online payment gateways

Late Payment Charges

  • • 2% per month on overdue amounts
  • • Service suspension after 45 days
  • • Legal action for recovery
  • • Collection agency involvement
  • • Credit reporting for defaults

Additional Charges and Expenses

Out-of-Pocket Expenses

  • • Travel and accommodation costs
  • • Courier and communication charges
  • • Government fees and stamps
  • • Third-party service charges
  • • Document procurement costs

Rush Service Charges

  • • 50% premium for urgent services
  • • Same-day service surcharge
  • • Weekend and holiday work
  • • Express processing fees
  • • Emergency consultation charges

Technology and Support

  • • Software licensing and subscriptions
  • • Data storage and backup services
  • • Secure communication platforms
  • • Document management systems
  • • Client portal access and training

6 Confidentiality & Privacy

Professional Confidentiality

Confidentiality Commitment

  • • Absolute Confidentiality: All client information treated as strictly confidential
  • • Professional Privilege: Attorney-client like privilege for CA-client communications
  • • Non-Disclosure: No disclosure without explicit written consent
  • • Staff Obligations: All team members bound by confidentiality agreements
  • • Continuing Duty: Confidentiality continues beyond engagement termination

Permitted Disclosures

  • • Legal and regulatory requirements
  • • Court orders and judicial proceedings
  • • Professional quality review processes
  • • Client authorized disclosures
  • • Anti-money laundering compliance

Data Protection and Privacy

We maintain comprehensive data protection measures in compliance with the Digital Personal Data Protection Act 2023, Information Technology Act 2000, and international best practices.

Security Measures

  • • End-to-end encryption for all communications
  • • Secure cloud storage with regular backups
  • • Multi-factor authentication and access controls
  • • Regular security audits and vulnerability assessments
  • • Incident response and breach notification procedures

Privacy Rights

  • • Right to access and correct personal data
  • • Right to data portability and erasure
  • • Right to restrict processing and object
  • • Right to withdraw consent
  • • Right to lodge complaints with authorities

Information Security Framework

Physical Security

  • • Secure office premises with access control
  • • Fireproof safes for critical documents
  • • 24/7 surveillance and monitoring
  • • Clean desk policy and document management
  • • Secure disposal and shredding procedures

Technical Security

  • • Enterprise-grade firewall and antivirus
  • • Regular software updates and patches
  • • Network monitoring and intrusion detection
  • • Encrypted email and file transfer
  • • Automated backup and disaster recovery

Administrative Security

  • • Staff security training and awareness
  • • Background verification of employees
  • • Role-based access controls and permissions
  • • Regular security policy reviews
  • • Incident reporting and response procedures

7 Liability & Indemnification

Limitation of Liability

Our liability for any claim arising from our professional services shall be limited to the extent permitted by law and professional standards. We maintain professional indemnity insurance as required by ICAI regulations.

Liability Limitations

  • • Maximum Liability: Limited to professional fees paid for the specific engagement
  • • No Consequential Damages: Exclusion of indirect, special, or consequential losses
  • • Time Limitation: Claims must be made within 3 years of service completion
  • • Professional Standards: Liability assessed against applicable professional standards
  • • Third Party Claims: No liability to third parties unless specifically agreed

Exclusions

  • • Fraud or willful misconduct by client
  • • Information not disclosed by client
  • • Changes in law or regulation
  • • Force majeure events and circumstances
  • • Actions beyond our professional control

Client Indemnification

Clients agree to indemnify and hold harmless V Viswanathan Associates from any claims, damages, or losses arising from client's breach of these terms or provision of false/incomplete information.

Indemnification Scope

  • • False or misleading information provided
  • • Failure to disclose material facts
  • • Non-compliance with applicable laws
  • • Unauthorized use of our advice or reports
  • • Third-party claims arising from client actions

Defense and Settlement

  • • Right to control defense of claims
  • • Client cooperation in defense required
  • • Settlement approval and participation
  • • Legal costs and expense reimbursement
  • • Notice requirements for claims

Professional Insurance Coverage

Insurance Details

  • • Professional Indemnity Insurance as per ICAI requirements
  • • Coverage for negligent acts, errors, and omissions
  • • Extended reporting period coverage
  • • Cyber liability and data breach protection
  • • Annual policy renewal and maintenance

Coverage Limitations

  • • Policy limits and deductibles apply
  • • Certain exclusions and conditions
  • • Claims must be reported promptly
  • • Cooperation with insurer required
  • • Settlement approval may be needed

8 Intellectual Property

Ownership and Usage Rights

All intellectual property rights in our methodologies, templates, software, and work products remain with V Viswanathan Associates. Clients receive limited usage rights for their internal business purposes only.

Our Intellectual Property

  • • Proprietary methodologies and processes
  • • Software tools and applications
  • • Templates and standard documents
  • • Training materials and knowledge base
  • • Trade secrets and know-how

Client Usage Rights

  • • Internal business use only
  • • No redistribution or resale
  • • No reverse engineering
  • • Proper attribution required
  • • Usage terminates with engagement

9 Termination

Termination Provisions

Termination by Either Party

  • • 30 days written notice for ongoing services
  • • Immediate termination for material breach
  • • Payment of all outstanding fees
  • • Return of confidential information
  • • Completion of work in progress (at our discretion)

Post-Termination Obligations

  • • Confidentiality obligations continue
  • • Return of client documents and materials
  • • Cooperation in transition to new advisor
  • • Professional handover documentation
  • • Retention of records as per legal requirements

10 Dispute Resolution

Resolution Process

Step 1: Direct Discussion

Good faith negotiations between parties to resolve disputes amicably within 30 days of notice.

Step 2: Mediation

Professional mediation through recognized mediation centers if direct negotiations fail.

Step 3: Arbitration

Binding arbitration under Arbitration and Conciliation Act 2015, seated in Chennai, Tamil Nadu.

11 Regulatory Compliance

Applicable Laws and Regulations

Professional Laws

  • • Chartered Accountants Act, 1949
  • • Company Secretaries Act, 1980
  • • Insolvency and Bankruptcy Code, 2016
  • • ICAI Code of Ethics and Standards
  • • IBBI Valuation Standards

Business Laws

  • • Companies Act, 2013
  • • Income Tax Act, 1961
  • • Goods and Services Tax Act, 2017
  • • Foreign Exchange Management Act, 1999
  • • Consumer Protection Act, 2019

12 Contact Information & Amendments

Contact Information

Firm: V Viswanathan Associates

Address: G131 Phase III Spencer Plaza, Anna Salai, Chennai 600002

Phone: +91 9176044244

Email: info@viswanathanassociates.com

Website: viswanathanassociates.com

Terms Amendments

We may update these terms periodically. Clients will be notified of material changes through email or website posting at least 30 days before effective date.

Continued use of services after amendment constitutes acceptance of updated terms.

Professional Service Commitment

Your success is our commitment - ethical, professional, and reliable service delivery

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© 2025 V Viswanathan Associates. All rights reserved.

These Terms of Service are governed by Indian law and are compliant with applicable professional standards and regulations as of January 15, 2025.

ICAI FRN: 013713S IBBI Registration: IBBI/RV/03/2019/12333 CFE: USA Certified