Sub.:- APPOINTMENT OF CHARTERED ACCOUNTANTS FIRM FOR CERTIFICATION OF ACCOUNTS OF REGIONAL OFFICE MUMBAI FOR THE FINANCIAL YEAR

Transcription

1 Housing & Urban Development Corporation Limited (HUDCO) (A Government of India Enterprise) MUMBAI REGIONAL OFFICE Shreyas Chambers, 2 nd floor, 175, Dr. D.N. Road, Fort, Mumbai Ref.No. HUDCO/MRO/630/ / Dated Sub.:- APPOINTMENT OF CHARTERED ACCOUNTANTS FIRM FOR CERTIFICATION OF ACCOUNTS OF REGIONAL OFFICE MUMBAI FOR THE FINANCIAL YEAR Sir, Housing and Urban Development Corporation Ltd. (HUDCO), a premier techno financing institution under the Ministry of Housing and Urban Poverty Alleviation, Govt. of India is engaged in providing long term loans for financing of Housing and Urban Infrastructure Projects. HUDCO, Mumbai Regional Office invite offers from eligible Chartered Accountant firms for certifying the monthly Trial Balance of Regional Office including accounts relating to HUDCO Niwas and Public Deposit Scheme. The following conditions are applicable with regard to submission of quotation for award of work by HUDCO Regional Office Mumbai. (I) The Scope of Work shall broadly cover the points as per enclosed Annexures as detailed below: (1) Monthly Trial Balance including Taxation and KYC & PML Certification Scope of Work as per ANNEXURE-I. (2) HUDCO Niwas Accounts Monthly Basis including KYC & PML Certification: Scope of Work as per ANNEXURE-II. (3) HUDCO Public Deposit Scheme Monthly Basis including KYC & PML Certification: Scope of Work as per ANNEXURE-Ill. (11) ELIGIBILITY CRITERIA: 1. CA firm should have at least five years of experience in handling work of Public Sector Companies. 2. CA firm should have minimum three number of partners, minimum five number of paid assistants (semi qualified/qualified) and other employed staff. 3. CA firm should have local office having minimum five working staff (including one partner). 4. CA firm should have at least two years' experience in handling TDS/Service Tax related work including filing of TDS/Service Tax Return in respect of Public Sector Companies. (Ill) SELECTION PROCEDURE : The selection of the firm shall be based on Technical bid and Financial bid: (1) Firms shall be short listed on the basis of technical bid. While evaluating the technical bid, CA Firm's capability to perform the certification work may be

2 assessed and inspection of their office may be carried out so as to establish the fact that the CA Firm has proper local office. (2) Financial Bid will be opened in respect of firms short listed based on Technical Bid. (IV) TENURE OF THE APPOINTMENT: The Firm may be engaged for a continuous period of three years. However, their appointment shall be renewed on yearly basis based on the satisfactory performance in the previous year with the approval of Head Office. (V) ESTIMATED COST OF CERTIFICATION WORK: The upper tender limit of fees of CA Firm (excluding Service Tax) is as under:- (1) For Monthly Trial Balance including Taxation and KYC & PML verification certificate for Project Loans Rs. 10,500/- P.M. (Rs. 9000/- for Trial Balance & Taxation + RS.1500/- for KYC/PML verification). (2) For HUDCO Niwas (Payable on Quarterly Basis) Rs.4000/- per quarter. Additional Fee of Rs. 20% will be payable for KYC and PML verification certificate. (3) For HUDCO Public Deposit Scheme (Payable on Quarterly Basis) Rs.6000/- per quarter. Additional Fee of Rs. 20% will be payable for KYC and PML verification certificate. The Fees for aforesaid assignments has to be mentioned separately in Financial bid. No out of pocket or other expenses shall be paid. The monthly/quarterly payment shall be of the due fees and balance 20% shall be released after audit of annual accounts by Statutory Auditors and Issuance of Tax Audit Report. (VI) GENERAL TERMS & CONDITIONS: (1) The CA Firm is required to undertake the review for each month's transactions in the first week of succeeding month and issue a report addressed to respective Executive Director/General Manager at Head Office by 5thof every month in case of Trial Balance, HUDCO Niwas, PDS and KYC/PML Certification. (2) Regional Office will also take assistance of the CA firm in carrying out the necessary rectifications promptly with a view to keep the record updated/corrected. However, CA Firm may include those observations in his report to Head Office, where there is difference of opinion and which remain unattended/pending rectification. Further, such observations should be reviewed and their compliance is to be reported in the subsequent audit reports until such time these are rectified. (3) HUDCO has the right to replace CA Firms, if it is found that the reporting/certification are not of required standard. (4) Any modification in offer after the date of opening will not be considered.

3 (5) Offers received late will not be considered. HUDCO Regional Office Mumbai will not be responsible for any postal delay or any delay whatsoever. (6) HUDCO Regional Office Mumbai reserves the right to accept or reject any or all offers without assigning any reason. (7) In case any information/clarification is required in respect of Tender, the same may be obtained by visiting HUDCO Regional Office Mumbai during working days (Monday to Friday between 10:00 a.m. to 5:00 p.m.). (8) Quotations should be sent in a sealed envelope super scribing on top "Certification of Accounts of Regional Office, Mumbai for the Financial year ". Accordingly you are requested to send Technical Bid and Financial Bid in two separate envelopes (given as Annexure IV and Annexure V). (9) Bids should be submitted in a sealed envelopes clearly indicating "Technical Bid for Certification of Trial Balance of Regional Office Mumbai, and certification of HUDCO Niwas Accounts and Public Deposit Scheme for the Financial Year " and Financial Bid for Certification of Trial Balance of Regional Office Mumbai, and certification of HUDCO Niwas Accounts and Public Deposit Scheme for the Financial Year " respectively. (10),The offer/quotation should include the firm's detailed profile including the firm's name, address, date of establishment, detailed profile of partners and brief details of paid CA's associates/support staff, clientele (PSUs, Banks, Other 'Companies) experience in handling work of PSUs. (11) Quotation/Offer can be sent by post or deposited in tender box available at Reception on 2 nd Floor in HUDCO Mumbai Regional Office at Shreyas Chambers, 2 nd floor, 175, Dr. D.N. Road, Fort, Mumbai The last date and time for submission of offer is by 4:00 p.m. (12) The Technical Bid will be opened on at 11 :00 a.m. (13) The Financial Bid of short listed firms on the basis of Technical Bid shall be opened on at p.m. (14) Payment of fees/charges shall be made through RTGS/NEFT for which the bank details will have to be submitted by the selected firm. (15) Location for submission of sealed quotation is Housing & Urban Development Corporation Ltd. (HUDCO), Mumbai Regional Office, Shreyas Chambers, 2 nd floor, 175, Dr. D.N. Road, Fort, Mumbai Thanking you, Date : Gagan Manager Modani (Finance)

4 ANNEXURE-J Trial Balance The Scope of work is as under:- A. IMPREST ACCOUNT I) Review of books of accounts and vouchers in regard to appropriateness of supporting documentary evidence and correctness of heads of accounts; 2) Certification of monthly Trial balance & Bank Reconciliation Statement accompanied by Audit Report. 3) Review of actual expenses incurred by RO vis-a-vis Budget A [location and in case the expenditure exceeds the budget limit then deviation may be reported on monthly basis. 4) Review of Head Office accounts with reference to remittances received from Head Office and disbursements made at Regional Offices. 5) Review of reconciliation of bank accounts. 6) Authenticity of salary vouchers in regard to appropriateness of heads of accounts. 7) Reconciliation of staff advances and all other advance accounts. 8) Verification of all Income Heads, booking of TDS on income to appropriate head of accounts. ~.:. 9) Certification of Half Yearly / Annual Information required by Head Office on Half yearly / Yearly basis as per guidelines issued by Head Office. 10) Certification of physical verification report vis-a-vis fixed assets as per HUDCO's Asset Register and point out discrepancies, if any. 11) Certification in respect of compliance of various circulars in regard to accounting / fixed assets issued by Head office from time to time. 12) Auditor should issue a monthly certificate, certifying that Audit observations! remarks made in the earlier Audit Reports have been rectified/ corrected in the Books of Accounts and observations made during the course of audit for the current month have been immediately complied with and no audit observation is pending. In case of pending observation then the same may be reported till the same is recti~ed by RO. 13) To certify that necessary accounting entries and payments to Income l~" / Service Tax authorities have been made in time. B. TAXATION I) Appropriateness of deduction of tax at source from salary in reference to Savings & Investments, Income from House Properties submitted by employees. as well as from payments in compliance of the provisions of the Income Tax Act. Verify timely payment of TDS amount to appropriate authorities. Review the correctness of the TDS returns before these are filed with the appropriate authorities. Verify from Income Tax site that the tax payment has been properly accounted for with Income Tax authorities and the proper credit for TDS on income is available to HUDCO: (

5 2) To advise and to assist in the preparation of Form 16 and 12BA in regard to Salaries. 3) To advise and to assist in all TDS related issues. 4) To verify the segregation of all the expenses heads in regard to deductibility 1 nondeductibility oftds. 5) Facilitation in downloading of all TDS certificates from NSDL within the prescribed time and verifying the same. 6) To attend to all communications, notices of the Tax Authorities and to appear on all hearings before Tax Authorities. 7) Facilitation in preparation of quarterly TDS Returns and uploading of the same with the NSDL ensuring that TDS deducted and deposited under appropriate section. 8) Filing of correction statement/rectification oftds Returns already filed, if required 9) Other Ta-x related issues as per amendments in Income Tax Act. 10) Certify the statement showing the service tax paid including SBC by Ra on input services, service tax collected on output services & service tax payable under reverse charge.adjustrnent of service tax on input service as per eligibility and service tax payable on output services. Also certifying its booking under appropriate GL A/c. I I) Verify that Regional Offices are taking CENV AT credit as per Cenvat Credit Rules at the time of making monthly payments with the appropriate authorities. 12) Certification in regard to maintenance of Input Credit Register for availment of Service tax input credit in the format as per instructions issued by HO. 13) Facilitation in preparation, checking and timely e-filing of half-yearly service tax return with the concerned authorities. ' 14) Facilitation in amendment of Service Tax Registration required, if any., 15) Certification in respect of the compliance of various circulars / instructions issued by various authorities/ Head Office in regard to Service Tax 1 Income Tax from time to time. 16) Certify that all the provisions of Income Tax Act IService Tax Act are complied with and bills are raised within the prescribed time as per Service Tax Act and the same are accounted for in books of accounts properly. 17) Issuance of Form 3CD duly certified by Auditors in the revised format as per CBDT's notification no. 33/2014 dated at the year-end alon~:,:-'ith all the annexure required by Head Officel Tax Auditors at the time of compila~on of Tax Audit Report at Head Office., C. KYC & PML certification in respect of Project Loans Verification of compliance of KYC and PML guidelines issued by NHB from time to time in respect of applications for Project Loans including loans to Government Agencies received at RO and furnishing the certificate as prescribed by Principal officer 1 ED (la). on monthly basis. (

6 ANNEXURE 11 HUDCONIWAS (For the purpose of payment, Bulk Loan will be treated as one case only) The scope of work is as under: 1. Review of books of accounts and vouchers in regard to appropriateness and correctness of heads of accounts. 2. Certifying Bank Reconciliation and Auditors comments on timely passing of correct entries. 3. Certifying Monthly, Quarterly, Half-yearly and Annual Statements generated through HORSYS package. 4. Certifying whether necessary provisions in Hudco Niwas Loans have been made as per NHB norms. 5. Certifying whether correct entries have been passed for interest due and interest derecognition. 6. Certifying that in default cases necessary action as per HUf)CO Niwas manual/circulars has been taken including filing of cases u/s 138 of the Negotiable Instrument Act. filing of civil/criminal cases etc including cases under SARFAESI A;ct. 7. Compliance of requirements as per Service Tax Act / Income Tax Act., 8. Certification of security in case of Loan and Balloon payment cases, unused stamp papers etc. 9. Adherence of Hudco Niwas guidelines for finalization of accounts. 10. CA should also verify that the Interest Subsidy for credit linked subsidy scheme (CLSS) guideline alongwith HUDCO Niwas guidelines are followed in case of loans extended by HUDCO NIWAS. 11. Verification of compliance of KYC and PML guidelines issued by NHB from time to time in respect of applications for HUDCO NIWAS loans received at RO and furnishing the certificate as prescribed by ED (la) on monthly basis alongwith duly verified Counterfeit Currency Report (CCR), Cash Transaction Report (CTR) & \uspicious Transaction Report (STR) if any. I ( 12. CA should also verify the Rectification JVlDifferential Entry passed by the RO in the Hudco Niwas Accounting System (HORS VS), if any - (, _ _...._.- _.. -_.. _._.

7 ANNEXURE-III HUDCO Public De,posit Schemes The terms of reference for PDS consists of specified account heads and the responsibility of the CA firm would be to certify all the accounting heads. The scope of work in addition to certification and confirmation may include the following on monthly basis: I. Checking of account books 2. Certifying bank reconciliation on monthly basis 3. Certifying periodic statements as per the requirement of Audit/NHS. 4. Certifying all the accounting of audit requirements pertaining to individual deposit/corporate deposit/any other category of PDS. S. Certifying outstanding under the PDS with confirmation to opening balances, deposits during the year, redemption made during the year and closing balance outstanding Scheme-wise, Period-wise and Maturity-wise. 6. Certifying the compliances under NHS made from time to time like general provisions regarding repayment of deposits as per PARA 12 of NHB Directions 20 IO. periodical NHB Return, KYC etc. CA firm should also provide a certificate regarding compliance of NHS norms prescribed under NHS Directions 20 loon monthly basis. 7. Verification of compliance of KYC and PML guidelines issued by NHB from time to time in respect of deposits received at RO under HUDCO's PDS and furnishing the certificate as prescribed by Principal Officer I ED (la I, on monthly basis. 8. Verification of acceptance of fresh I renewed deposits in latest HUDCO's fixed deposit application forms. 9. Certifying the PDS accounting heads such as interest on PDS, IABN. brokerage payablelbrokerage paid. unclaimed PDS/unclaimed interest on PDS, TDS payable. PDS receipt control interest under various schemes. LA PDS/inlerest on LA\ PDS/inlerest accrued on LA PDS, prior period brokerage. prior period interest expenst\~. any other deferred expenses. stale cheques, any other accounting head added to the PDS, accounting during the financial year. ( 10. Certifying the Cash Flow Statement on quarterly basis. 1I. Certifying the interest' and brokerage provision at the end of every quarter. 12. Certifying the consolidated Depositor Holder Register (as per NHB Norms) pertaining to Total Deposits outstanding under Hudco Public Deposit Scheme as on 31 st March IJ. The certification of PDS related financial accounting due to decentralization of PDS Accounting entries during the financial year , -

8 14. Certification in respect of timely transfer of all the unclaimed deposits and interest amount which are due for transfer to [EPF account in compl iance of section 125 of Companies Act Verifying that the renewal of deposits received under Hudco Public Deposit Scheme are as per guidelines of HUDCO Public Deposit Scheme.i.e. the renewal of deposit with retrospective effect is permitted provided fresh application in prescribed form is submitted within a period of one month after the date of maturity of the deposit". 16. Certification of TDS matters as follows: I. Form-15-HII5-G received from depositors are deposited with Income Tax department by 7th of succeeding month and the same is included in TDS Return. ii. Tax deducted at source against interest on deposits and brokerage paid on deposits is deposited with Income Tax department by 7th of succeeding month. Ill. TDS on interest and brokerage payment is deducted at appropriate rates as applicable for that financial year. iv. The section under which TDS is deducted against interest on deposits i.e. section 194A and the section under which TDS is deducted against brokerage paid on deposits i.e. section 194H is correctly filled up in the TDS challans deposited with I.T. department. v. The details of Assessment Year is correctly tilled up in. chal1ans deposited with I.T. department.... vi. Facilitation in preparation of quarterly TDS Returns and uploading of the same with the NSDL for ever)' quarter by 15th of the month succeeding the quarter incorporating the details or total taxahle interest viz details of Form 15-H 115-G and exemption certificates submitted by the depositors. vii. To advise and to assist in all TDS related issues pertaining to Public Deposit Schemes. viii. To verify the segregation of all the expenses head in regard to deductibility I nondeductibility oftds. ix, Facilitation in downloading of all TDS certificates from NSDL and verifying the same. ( x. To attend to all communications, notices of the Tax Authorities and to 'Wpear on all hearings before Tax Authorities. \ xi. Filing of correction statement/rectification oftds Returns already tiled. if re,quired xii. Other Tax related issues consequent to amendments in Income Tax Act

9 TECHNICAL BID ANNEXURE - IV (01) Name of the Firm (02) Status of the Firm (03) Date of Establishment of Firm (04) Address of the Firm (05) Telephone Numbers / Fax Numbers / _ (06) No. of Partners, Name and Membership No(s). (07) Number of paid CAs (08) Number of other paid staffs (09) Experience in auditing PSU companies (in yrs). (10) Staff including partner(s) at Local Office SI. Name of the Number of Nature of Audit Financial No. Organisation Years of Audit Year Conducted Provide separate details for experience in Handling TDS/Service Tax related work. Date: Place: (Signature of the Authorized Signatory with seal)

10 FINANCIAL BID ANNEXURE-V 1. Name of Firm 2. PAN No. 3. Service Tax Registration No. if any. Sr. Particulars Maximum Fees Fee/Month or Total Fees for No. Quarter FY Monthly Trial Balance Rs. 10,5001- per including Taxation and KYC & PML Certification month 2 HUDCO Niwas Accounts Rs. 4,8001- per Monthly Basis including KYC & PML Certification quarter 3 HUDCO Public Deposit Rs. 7,2001- per Scheme Monthly Basis quarter including KYC & PML Certification Statutory LevieslT axes etc. if any Total Amount ( In figures) Total Amount (In words) Date: Place: (Signature of the Authorized Signatory with seal)