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INTRODUCTION
These Terms & Conditions (“Agreement”) govern the professional relationship between [Sharukkhan Kureshi and Co.], a firm of Cost Accountants registered with the Institute of Cost Accountants of India, and its clients (“Client”).
By engaging our services, the Client agrees to be bound by these terms.
SCOPE OF SERVICES
Accounting
Income Tax
GST
Banking and Loan Processing
Certification
Licencing
Cost Accounting
Special Advices for
*Disclaimer: Services shall be provided only as per the mutually agreed scope of work. Any additional or revised services shall be undertaken only upon written approval and acceptance of applicable professional fees.
PROFESSIONAL STANDARDS
Regulatory Framework & Governing Authority
Professional services shall be performed in accordance with the standards and guidelines issued by the Institute of Cost Accountants of India, including:
Cost Accounting Standards (CAS)
Standards on Cost Auditing (SCA)
Code of Ethics
Guidelines on Peer Review
The Firm shall also comply with applicable laws such as:
Companies Act 2013 India
GST Act 2017 India
Income Tax Act 1961 India
Fundamental Ethical Principles
All professionals of the Firm shall adhere to:
Integrity
Be straightforward, honest, and transparent in all professional dealings
Objectivity
Avoid bias, conflict of interest, or undue influence
Professional Competence & Due Care
Maintain knowledge, skills, and diligence required for quality service
Confidentiality
Protect client information unless legally required to disclose
Professional Behavior
Comply with laws and avoid any conduct that discredits the profession
Independence & Conflict of Interest
Ensure independence in audit and assurance engagements
Disclose any potential conflicts before accepting assignments
Maintain internal checks to prevent self-review threats
Quality Control & Engagement Standards
The Firm shall implement a robust Quality
Management System (QMS) including:
Engagement acceptance and continuance procedures
Risk assessment before assignment
Review and supervision protocols
Documentation standards
Each engagement shall:
Be supported by proper working papers
Follow applicable auditing or consulting standards
Undergo partner-level review (where applicable)
Documentation & Record Keeping
Maintain complete and organized documentation for each assignment
Preserve records for a minimum period as per regulatory requirements
Ensure audit trail and traceability
Confidentiality & Data Protection
Use secure systems for storage and communication
Restrict access to authorized personnel only
Ensure compliance with data protection norms
Client Acceptance & Continuance
Before accepting any client:
Perform background and risk checks
Evaluate ethical compatibility
Ensure no conflict of interest
The Firm reserves the right to discontinue services if:
Client integrity is questionable
Information provided is misleading
Professional Fees & Transparency
Fees shall be charged as per the Engagement Letter or mutually agreed terms
Out-of-pocket expenses (travel, filing fees, etc.) will be billed separately
Payments must be made within the agreed timeline
Invoice are payable with GST and within the agreed credit period. Delay in payment may attract interest @ 18% p.a.
The Firm reserves the Right to suspend services in case of outstanding dues.
Training & Continuous Professional Development
All team members shall undergo regular training
Stay updated with amendments in laws and standards
Encourage certifications and skill enhancement
Use of Technology & Automation
Adopt secure and reliable digital tools
Maintain data integrity in automated systems
Ensure compliance while using AI and cloud platforms
Peer Review & Compliance Monitoring
Participate in peer review programs of the Institute of Cost Accountants of India
Conduct internal audits of quality systems
Implement corrective actions on deficiencies
Reporting & Communication Standards
Reports shall be clear, concise, and fact-based
Avoid misleading or ambiguous statements
Communicate risks and limitations transparently
Disciplinary & Non-Compliance Handling
Any breach of professional standards shall be investigated
Appropriate disciplinary action shall be taken
Serious violations may be reported to regulatory authorities
Commitment to Excellence
The Firm is committed to:
Delivering high-quality professional services
Upholding the reputation of the profession
Maintaining trust with clients and stakeholders
ESG & Sustainability reporting standards
Risk Management Framework (ERM model)
AI Governance Policy (since you’re building AI automation)
Cybersecurity & Data Privacy Policy
Multi-location firm governance (for your branches)
Top of Form
Bottom of Form
CLIENT RESPONSIBILITIES
The Client agrees to:
Provide accurate, complete, and timely information with all information, explanations, and access required for the firm to perform the service.
Client Represents that all information provide is true, correct and complete.
The Client shall be responsible for consequences of any delay, inaccuracy, or withholding of information.
Inform the Firm of any material changes affecting the engagement
Non-Payment: If the Client fails to make payment within the prescribed due period, the Firm shall have the right to suspend all services and withhold the delivery of any reports, documents, records, working papers, login credentials, digital files, statutory records, certificates, passwords, or any other information or material in its possession relating to the engagement until all outstanding dues, including applicable interest and charges, are paid in full. The Firm shall not be liable for any loss, delay, penalty, interest, or adverse consequences arising from such withholding due to the Client’s default in payment.
Payment Terms: The Client shall make full payment of all invoices within 15 (Fifteen) days from the date of the invoice or from the date of receipt of the invoice through any mode of communication, including but not limited to email, WhatsApp, courier, post, hand delivery, or any electronic means, whichever is earlier. Failure to make payment within the stipulated period may result in suspension of services and/or the levy of applicable interest or recovery charges, without prejudice to any other rights available to the Firm under law.
*The Firm shall not be responsible for errors arising from incorrect or incomplete information.
CONFIDENTIALITY
The Firm shall maintain strict confidentiality of all client information, except:
Where disclosure is required by law
Where information is already public
Where required by regulatory authorities
Information will not be disclosed to any third party without the Client’s prior written consent, except by law or professional standard.
The obligation shall continue even after the conclusion of the engagement.
LIMITATION OF LIABILITY
The Firm’s liability shall be limited to the fees paid for the specific engagement
The Firm shall not be liable for indirect, incidental, or consequential or punitive damages, loss of profit or business interruption.
No liability shall arise due to delays caused by third parties or government systems
The Client agrees that the Firm’s total liabilities arising out of the engagement shall not exceed the fees paid.
INDEPENDENCE & CONFLICT OF INTEREST
Objective
This policy establishes the principles and procedures to ensure that independence, objectivity, and professional integrity are maintained in all engagements undertaken by the Firm, in accordance with the guidelines issued by the Institute of Cost Accountants of India.
Independence Requirement
The Firm and its professionals shall:
Remain independent in all assurance and audit engagements
Avoid relationships that may impair professional judgment
Ensure both actual independence and perceived independence
Independence shall be maintained in accordance with:
Cost Auditing Standards
Code of Ethics issued by the Institute of Cost Accountants of India
Applicable provisions of the Companies Act 2013 India
Conflict of Interest – Definition
A conflict of interest arises where:
The Firm’s objectivity is compromised or may be perceived as compromised
Competing interests exist between two or more clients
Personal, financial, or business relationships influence professional decisions
Identification of Conflicts
The Firm shall implement procedures to:
Identify potential conflicts prior to accepting any engagement
Maintain a client acceptance checklist
Evaluate relationships, financial interests, and prior engagements
Disclosure of Conflicts
Any actual or potential conflict shall be disclosed to the Client in writing
Engagement shall proceed only after obtaining informed consent from affected parties
Where disclosure is not sufficient to mitigate risk, the Firm shall decline or withdraw
Prohibited Situations
The Firm shall not accept or continue engagements where:
There is a direct financial interest in the Client
The Firm is involved in decision-making for the Client (self-review threat)
There is a management or employment relationship with the Client
Confidential information of one client may be compromised
Safeguards & Mitigation Measures
Where conflicts are identified, the Firm may apply safeguards such as:
Separate engagement teams (“Chinese Walls”)
Independent partner review
Restriction on access to confidential information
Written consent from all relevant parties
Ongoing Monitoring
Independence shall be evaluated throughout the engagement lifecycle
Team members must declare any change in circumstances
Annual independence declarations shall be obtained from all professionals
Client Responsibilities
The Client agrees to:
Disclose any relationships or situations that may create conflicts
Inform the Firm of changes affecting independence
Cooperate in resolving potential conflicts
Breach of Independence
In case of breach:
The Firm shall assess the impact immediately
Appropriate corrective action shall be taken
If necessary, the engagement shall be terminated
Documentation
The Firm shall maintain:
Independence declarations
Conflict assessment records
Safeguards applied and approvals obtained
Confidentiality in Conflict Situations
Even in cases of conflict:
Client confidentiality shall be strictly maintained
Information barriers shall be enforced
Regulatory Compliance
This policy is aligned with:
Code of Ethics of the Institute of Cost Accountants of India
Applicable provisions of Companies Act 2013 India
Other relevant professional and legal requirements
Right to Refuse or Withdraw
The Firm reserves the absolute right to:
Decline an engagement where independence is compromised
Withdraw from an ongoing engagement if conflict cannot be mitigated
Acceptance
Engagement of the Firm’s services constitutes acceptance of this Independence & Conflict of Interest Policy.
DATA & RECORDS MANAGEMENT
Objective
This policy defines the principles for collection, handling, storage, protection, and retention of client data and records, ensuring confidentiality, integrity, and compliance with professional standards issued by the Institute of Cost Accountants of India.
Scope
This policy applies to:
All client data (financial, operational, statutory, personal)
Working papers, reports, and engagement documentation
Data in physical and electronic form
Ownership of Records
All original documents and records provided by the Client remain the property of the Client
All working papers, analysis, reports, and internal documentation prepared by the Firm remain the property of the Firm
The Firm retains the right to maintain copies for compliance and record purposes
Client Responsibilities
The Client shall:
Provide complete, accurate, and timely data
Maintain proper books of accounts and statutory records
Retain original documents as required under applicable laws such as Companies Act 2013 India and Income Tax Act 1961 India
Inform the Firm of any corrections or updates
The Firm shall not be responsible for inaccuracies arising from incorrect or incomplete data provided.
Data Collection & Usage
Data shall be collected only for the purpose of providing agreed professional services
The Firm shall not use client data for any unauthorized purpose
Limited use of anonymized data for internal analysis or training may be permitted
Confidentiality of Data
All client data shall be treated as strictly confidential
Access shall be restricted to authorized personnel only
Data shall not be disclosed without client consent except:
Where required by law
Where requested by regulatory authorities
Where necessary for professional obligations
Data Storage & Security
The Firm shall implement reasonable safeguards including:
Secure servers and cloud platforms
Password protection and access controls
Encryption (where applicable)
Regular data backups
Physical records shall be stored in secure locations with restricted access.
Use of Technology & Cloud Systems
The Firm may use third-party software, cloud storage, or AI-based tools for service delivery
Reasonable due diligence shall be exercised in selecting such platforms
The Client consents to such use unless otherwise agreed in writing
Retention of Records
Records shall be retained for a minimum period as required by applicable laws and professional standards
Typically, working papers shall be preserved for at least 8 years or as prescribed
Return & Destruction of Data
Upon completion or termination of engagement, original documents shall be returned upon request
The Firm may retain copies for compliance purposes
Data may be securely destroyed after the retention period
Data Breach & Incident Handling
In case of any data breach:
The Firm shall take immediate corrective action
The Client shall be informed where required
Steps shall be taken to mitigate risks and prevent recurrence
Third-Party Sharing
Data may be shared with third parties (e.g., consultants, software providers) only when necessary for service delivery
Such parties shall be bound by confidentiality obligations
Regulatory Compliance
This policy is aligned with:
Guidelines issued by the Institute of Cost Accountants of India
Applicable provisions of Companies Act 2013 India
Information Technology Act 2000 India and related rules
Limitation of Liability
The Firm shall not be liable for data loss or breach caused by:
Client systems or third-party failures
Force majeure events
Liability, if any, shall be limited as per engagement terms
Client Access to Records
The Client may request access to their records at reasonable times
Copies may be provided subject to administrative charges
Amendments
The Firm reserves the right to update this policy to comply with changes in laws, technology, or professional standards.
Acceptance
Engagement of services constitutes acceptance of this Data & Records Management Policy.
MULTI-CITY OPERATIONS
Objective
This policy governs the management and execution of professional services across multiple locations/branches of the Firm, ensuring uniform quality, compliance, and coordination in accordance with standards prescribed by the Institute of Cost Accountants of India.
Scope of Operations
The Firm may operate through:
Head Office
Branch Offices
Associate Offices / Network Firms
All offices shall function under a unified professional and ethical framework.
Centralized Governance
The Head Office shall exercise overall control over all branches
Policies, SOPs, and quality standards shall be centrally defined
Key decisions, including client acceptance and engagement risk, shall be monitored centrally
Uniform Professional Standards
All offices shall:
Follow the same audit, advisory, and compliance methodologies
Adhere to standards issued by the Institute of Cost Accountants of India
Ensure consistency in documentation, reporting, and client communication
Client Allocation & Jurisdiction
Clients may be serviced by any branch based on:
Location convenience
Workload distribution
The Firm reserves the right to reassign engagements between branches
Inter-Branch Coordination
Branches shall collaborate and share information where required
Centralized systems (ERP, CRM, cloud storage) shall be used for coordination
Communication protocols shall be maintained to ensure seamless service delivery
Confidentiality Across Locations
Client information shall be accessible only to authorized personnel across branches
Data sharing between branches shall be secure and controlled
Confidentiality obligations apply uniformly across all locations
Data & Document Management
All branches shall follow centralized data management policies
Records shall be stored in secure digital systems accessible across locations
Physical documents shall be handled as per Firm guidelines
Quality Control & Review
Engagements executed at branch level shall be subject to:
Partner-level review
Cross-branch quality checks (if required)
Periodic internal audits shall be conducted across offices
Billing & Revenue Allocation
Billing may be centralized or branch-specific as per Firm policy
Revenue sharing between branches shall be internally governed
Clients shall not be impacted by internal allocation mechanisms
Compliance with Local Laws
Each branch shall comply with:
Local jurisdictional requirements
Applicable laws such as GST Act 2017 India and Income Tax Act 1961 India
State-specific regulatory requirements (if applicable)
Use of Technology
Common technology platforms shall be used across all offices
Secure communication tools and document-sharing systems shall be mandatory
AI and automation tools may be used under centralized control
Human Resource & Staffing
Staff may be deployed across locations based on project requirements
Standardized training and performance evaluation shall be followed
Ethical and professional conduct shall be consistent across branches
Risk Management
Risks arising from multi-location operations shall be identified and mitigated
Backup systems and contingency plans shall be maintained
Critical engagements may involve multi-branch oversight
Dispute Resolution
Internal disputes between branches shall be resolved by Head Office
Client disputes shall be handled centrally to ensure consistency
Right to Reorganize Operations
The Firm reserves the right to:
Open, close, or relocate branches
Restructure operational responsibilities
Merge or separate offices as per business requirements
Limitation of Liability
The Firm shall be treated as a single entity for liability purposes
No separate liability shall arise for individual branches
Amendments
The Firm may update this policy to align with:
Regulatory changes
Business expansion
Technological advancements
Acceptance
Engagement of services implies acceptance of this Multi-City Operations Policy.
COMMUNICATION POLICY
Objective
This policy defines the principles governing communication between the Firm and its clients to ensure clarity, accuracy, confidentiality, and timely exchange of information, in accordance with professional standards issued by the Institute of Cost Accountants of India.
Modes of Communication
The Firm may communicate with the Client through:
Email and official correspondence
Phone calls and video conferencing
Secure client portals / cloud platforms
Messaging applications (e.g., WhatsApp Business)
Physical letters or notices
The Client agrees that such modes are valid and acceptable for professional communication.
Authorized Contacts
The Client shall designate authorized persons for communication
The Firm shall rely on instructions received from such authorized representatives
The Client must promptly notify any changes in authorized contacts
Timeliness & Response
The Firm shall make reasonable efforts to respond within agreed timelines
The Client shall provide timely responses, documents, and approvals
Delays in communication may impact service delivery timelines
Accuracy of Communication
The Client is responsible for verifying the accuracy of information provided
The Firm shall rely on such information without independent verification unless specifically agreed
Any errors or omissions must be communicated immediately
Confidentiality in Communication
All communications shall be treated as confidential
Sensitive information shall be shared through secure channels
The Firm shall not disclose communications without consent except:
Where required by law
Where required by regulatory authorities
Electronic Communication Risks
The Client acknowledges that:
Electronic communication may be subject to risks such as interception, delays, or data corruption
The Firm shall not be liable for such risks beyond its control
Reasonable security measures shall be implemented by the Firm
Use of Messaging Platforms
Messaging apps (e.g., WhatsApp) may be used for quick communication
Formal advice, reports, and opinions shall be provided through official channels (email or written documents)
Instructions received via messaging apps shall be confirmed where necessary
Record of Communication
The Firm may maintain records of all communications for documentation and compliance
Such records may be used in case of disputes or regulatory requirements
Language & Professional Tone
Communication shall be conducted in professional and respectful manner
The primary language shall be English unless otherwise agreed
The Firm may provide simplified explanations for client understanding
Client Responsibilities
The Client agrees to:
Provide clear and complete instructions
Respond within reasonable timeframes
Avoid reliance on informal or incomplete communication
Review all deliverables and raise queries promptly
Disclaimer on Advice
Verbal or informal communication shall not be considered as final professional advice
Only written communication issued by the Firm shall be considered authoritative
Third-Party Communication
The Firm shall not communicate with third parties on behalf of the Client without authorization
Any such communication shall be subject to agreed scope and consent
Escalation Mechanism
In case of issues or dissatisfaction, the Client may escalate matters to senior management/partner
The Firm shall ensure timely resolution of escalated matters
Regulatory Compliance
This policy is aligned with:
Guidelines issued by the Institute of Cost Accountants of India
Applicable provisions of Information Technology Act 2000 India
Limitation of Liability
The Firm shall not be liable for losses arising due to:
Delayed or non-response from the Client
Misinterpretation of informal communication
Technical failures in communication systems
Amendments
The Firm reserves the right to update this communication policy to reflect changes in technology, laws, or professional standards.
Acceptance
Engagement of services constitutes acceptance of this Communication Policy.
TERMINATION OF ENGAGEMENT
Objective
This policy sets out the terms governing the termination, suspension, or withdrawal of professional services between the Firm and its clients, in accordance with the standards prescribed by the Institute of Cost Accountants of India.
Right to Terminate
Either party (the Firm or the Client) may terminate the engagement:
By giving prior written notice as agreed in the Engagement Letter
Without cause, subject to completion of formalities
Termination by the Firm
The Firm reserves the right to terminate or withdraw from an engagement in the following circumstances:
Non-payment or delayed payment of professional fees
Provision of incorrect, incomplete, or misleading information
Non-cooperation or unreasonable delays by the Client
Conflict of interest or independence concerns
Engagement becoming unlawful under applicable laws such as Companies Act 2013 India or Income Tax Act 1961 India
Any action that may harm the Firm’s professional reputation
Termination by the Client
The Client may terminate the engagement:
By providing written notice within the agreed notice period
Upon payment of all outstanding fees and expenses
After completion of handover formalities
Immediate Termination
The Firm may terminate the engagement immediately (without notice) in cases of:
Fraud, misrepresentation, or illegal activities
Breach of confidentiality or ethical obligations
Serious non-compliance with laws or regulatory requirements
Suspension of Services
The Firm may suspend services temporarily in case of:
Non-payment of dues
Delay in submission of required information
Services shall resume upon resolution of such issues
Obligations Upon Termination
Upon termination:
All outstanding fees and expenses shall become immediately payable
The Firm shall return client-provided original documents upon request
The Firm may retain copies for compliance and record purposes
Handover of Work
The Firm shall provide reasonable assistance in transition to another professional
Handover shall be subject to:
Full settlement of dues
Receipt of written request
Additional fees may be charged for handover support
Limitation of Responsibility Post-Termination
The Firm shall have no responsibility for any matters after the date of termination
No obligation to update, revise, or monitor past deliverables
Retention of Records
The Firm shall retain engagement records as per applicable laws and professional standards
Access to such records may be provided upon request
Confidentiality After Termination
Confidentiality obligations shall survive termination
Both parties shall continue to protect sensitive information
Regulatory Reporting (if applicable)
The Firm may be required to inform regulatory authorities in certain cases
The Firm may comply with such obligations as per professional guidelines issued by the Institute of Cost Accountants of India
Dispute Resolution
Any disputes arising from termination shall be resolved as per agreed dispute resolution clause
Jurisdiction shall be as specified in the Engagement Letter
Force Majeure
Termination or suspension due to events beyond control (natural disasters, system failures, etc.) shall not attract liability
Survival of Clauses
The following clauses shall survive termination:
Confidentiality
Limitation of liability
Record retention
Dispute resolution
Amendments
The Firm reserves the right to amend this termination policy in line with regulatory or operational changes.
Acceptance
Engagement of services constitutes acceptance of this Termination Policy.
FORCE MAJEURE
Objective
This clause defines the circumstances under which the Firm shall not be held liable for delay, interruption, or failure in performance due to events beyond its reasonable control, in line with professional standards of the Institute of Cost Accountants of India.
Definition of Force Majeure
“Force Majeure” refers to events or circumstances beyond the reasonable control of the Firm, including but not limited to:
Natural disasters (earthquake, flood, fire, महामारी, etc.)
Acts of God
War, terrorism, civil unrest, riots
Government actions, lockdowns, regulatory restrictions
Epidemics or pandemics (e.g., COVID-19)
Power failures, internet outages, or system breakdowns
Cyber-attacks or technological disruptions
Strikes, labor disputes, or transportation failures
Impact on Services
The Firm shall not be liable for any delay or failure in performing its obligations due to a Force Majeure event
Service timelines shall be extended for the duration of such event
The Firm shall make reasonable efforts to resume services as soon as practicable
Notification
The affected party shall inform the other party of the Force Majeure event as soon as reasonably possible
Such notice shall include details of:
Nature of the event
Expected duration
Impact on services
Mitigation Measures
The Firm shall:
Take reasonable steps to mitigate the impact of the Force Majeure event
Utilize alternative resources, locations, or technologies where feasible
Maintain business continuity plans
Client Responsibilities
The Client agrees to:
Cooperate with the Firm during such events
Provide flexibility in timelines and deliverables
Avoid imposing penalties for delays caused by Force Majeure
Suspension of Obligations
Obligations affected by Force Majeure shall be temporarily suspended
Other unaffected obligations shall continue
Extended Force Majeure
If the Force Majeure event continues beyond a reasonable period (e.g., 30–60 days), either party may:
Renegotiate the terms, or
Terminate the engagement without liability
No Liability
The Firm shall not be liable for:
Direct or indirect losses
Business interruption
Penalties or damages arising from delay
provided such delay is attributable to Force Majeure.
Regulatory Compliance
The Firm shall comply with any regulatory relaxations or guidelines issued by authorities during such events
Adjustments in deadlines shall be subject to applicable laws such as Companies Act 2013 India and Income Tax Act 1961 India
Data & System Disruptions
In case of data or system disruptions:
The Firm shall attempt recovery through backups
No guarantee is provided for complete restoration in extreme situations
Continuity Planning
The Firm maintains:
Backup systems and cloud infrastructure
Alternative communication channels
Remote working capabilities
to ensure continuity of services where possible.
Amendments
This clause may be updated to reflect evolving risks, technology changes, or regulatory developments.
Acceptance
Engagement of services constitutes acceptance of this Force Majeure Clause.
GOVERNING LAW & JURISDICTION
Objective
This clause defines the legal framework and jurisdiction governing the relationship between the Firm and its clients, ensuring clarity in the event of disputes or legal proceedings.
Applicable Law
These Terms & Conditions and all engagements undertaken by the Firm shall be governed by and construed in accordance with the laws of India.
This includes, but is not limited to:
Companies Act 2013 India
Income Tax Act 1961 India
GST Act 2017 India
Information Technology Act 2000 India
Applicable rules, regulations, and notifications issued thereunder
Professional Regulatory Framework
The Firm shall perform its services in accordance with:
Guidelines, standards, and code of conduct issued by the Institute of Cost Accountants of India
Other relevant regulatory and professional requirements applicable to Cost Accountants
Jurisdiction
Any disputes arising out of or in connection with the engagement shall be subject to the exclusive jurisdiction of courts at [City Name, State]
For your firm, you may specify: Mehsana, Gujarat, or your Head Office jurisdiction
Dispute Resolution Mechanism
Before initiating legal proceedings, the parties agree to:
Attempt resolution through mutual discussion
Escalate the matter to senior management/partner level
If unresolved, disputes may be referred to:
Arbitration (if mutually agreed), or
Competent courts as per the jurisdiction clause
Arbitration Clause (Optional but Recommended)
Any dispute may be referred to arbitration in accordance with the Arbitration and Conciliation Act 1996 India
The seat and venue of arbitration shall be [City Name]
The language of arbitration shall be English
The decision of the arbitrator shall be final and binding
Cross-Border Engagements (If Applicable)
For international clients, Indian law shall continue to apply unless otherwise agreed in writing
Additional compliance with foreign laws may be required depending on the nature of services
Compliance with Legal Changes
The Firm shall comply with amendments in applicable laws and regulations
Any changes impacting the engagement shall be communicated to the Client
Severability
If any provision of these Terms is held invalid or unenforceable under applicable law, the remaining provisions shall continue in full force
Limitation of Legal Interpretation
The Firm shall not be responsible for interpretation of laws beyond the agreed scope of services
Legal opinions (if required) shall be provided only under specific engagement
Survival of Clause
This Governing Law & Jurisdiction clause shall survive termination of the engagement.
Acceptance
Engagement of services constitutes acceptance of this Governing Law & Jurisdiction Clause.
AGREEMENT
Formation of Agreement
This Agreement constitutes a legally binding understanding between [Sharukkhan Kureshi and Co.], a firm of Cost Accountants registered with the Institute of Cost Accountants of India, and the Client.
The Agreement shall come into effect upon:
Signing of the Engagement Letter, or
Written/email confirmation of services, or
Commencement of services by the Firm, whichever is earlier
Scope of Agreement
This Agreement shall include:
Engagement Letter
Terms & Conditions (including all policies such as Independence, Data, Communication, etc.)
Any addendums or amendments issued by the Firm
In case of conflict, the Engagement Letter shall prevail.
Binding Nature
This Agreement shall be binding on both parties, including their successors and permitted assigns
The Client acknowledges that engagement of services implies full acceptance of all applicable terms
Entire Agreement
This Agreement constitutes the entire understanding between the parties and supersedes:
All prior discussions
Oral or written communications
Previous agreements (if any)
Amendments & Modifications
The Firm reserves the right to update or modify these Terms & Conditions
Any such changes shall be communicated to the Client
Continued use of services shall constitute acceptance of revised terms
Severability
If any provision of this Agreement is held invalid or unenforceable under applicable law, the remaining provisions shall continue in full force
Waiver
Failure or delay in enforcing any provision shall not constitute a waiver of rights
Any waiver must be in writing
Assignment
The Client shall not assign or transfer any rights or obligations without prior written consent of the Firm
The Firm may assign engagements within its network or branches, subject to confidentiality and professional standards
Electronic Acceptance
This Agreement may be accepted through electronic means, including:
Email confirmation
Digital signatures
Online acceptance via website or client portal
Such acceptance shall be legally valid and binding under the Information Technology Act 2000 India
Relationship of Parties
The Firm acts as an independent professional service provider
Nothing in this Agreement shall be construed as:
Partnership
Joint venture
Employer-employee relationship
Survival of Clauses
The following clauses shall survive termination of the Agreement:
Confidentiality
Limitation of liability
Governing law & jurisdiction
Data & records
Dispute resolution
Compliance with Laws
Both parties agree to comply with all applicable laws including:
Companies Act 2013 India
Income Tax Act 1961 India
GST Act 2017 India
Acknowledgment
The Client acknowledges that:
They have read and understood these Terms & Conditions
They agree to be bound by them
They have had the opportunity to seek clarification before acceptance
Execution
This Agreement may be executed:
Physically (signed document), or
Electronically (digital acceptance),
and shall be equally valid in both forms.
CONTACT & COMMUNICATION DETAILS
Objective
This clause defines the official contact channels, communication protocols, and responsibilities between the Firm and its clients, ensuring structured and reliable interaction in accordance with standards prescribed by the Institute of Cost Accountants of India.
Official Contact Details of the Firm
The Firm shall be contacted through the following official channels:
Authorized Communication Channels
The Client agrees that communication with the Firm shall be valid through:
Official email addresses of the Firm
Registered phone numbers
Firm’s website or client portal
Written correspondence
Approved messaging platforms (e.g., WhatsApp Business)
Authorized Representatives
The Client shall designate authorized persons for communication
The Firm shall rely on instructions received from such persons
Any change in authorized contacts must be communicated in writing
Accuracy of Contact Information
The Client is responsible for providing correct and updated contact details
The Firm shall not be liable for communication failures due to incorrect information
Response Time & Availability
The Firm shall make reasonable efforts to respond within standard working hours
Urgent matters should be clearly marked and communicated via appropriate channels
Service timelines depend on timely communication from the Client
Electronic Communication Disclaimer
Communication via email, internet, or messaging platforms may involve risks
The Firm shall not be liable for delays, interception, or technical failures
Clients are advised to verify sensitive instructions
Change in Contact Details
The Firm reserves the right to update its contact details
Any such changes shall be communicated via:
Website updates
Email notification
Continued engagement implies acceptance of updated details
Office Hours
Standard working hours: 9:30 AM – 6:30 PM, Monday to Saturday
Closed on public holidays unless otherwise notified
Escalation Contact
In case of unresolved issues, the Client may escalate to:
Third-Party Communication
The Firm shall not communicate with banks, authorities, or third parties without proper authorization
Any such communication shall be subject to agreed scope
Confidentiality of Communication
All communications shall be treated as confidential
Disclosure shall only be made where required by law or regulatory authorities
Regulatory Compliance
This clause is aligned with:
Guidelines issued by the Institute of Cost Accountants of India
Applicable provisions of Information Technology Act 2000 India
Limitation of Liability
The Firm shall not be liable for:
Communication delays due to network/system issues
Non-receipt of messages due to spam filters or incorrect details
Miscommunication arising from unauthorized contacts
Acceptance
Engagement of services constitutes acceptance of this Contact & Communication Details Policy.
