Terms of Use

These Terms of Use ("Terms") constitute a legally binding agreement between you ("User", "you", "your") and Y M Shah & Co., Chartered Accountants ("the Firm", "we", "us", "our"), governing your access to and use of the website located at www.ymshah.com and any related pages, tools, or services (collectively, the "Website") as well as the professional services we provide.

These Terms must be read in conjunction with our Privacy Policy, which forms an integral part of the agreement between you and the Firm. By accessing this Website or engaging our services, you represent that:

1. You are at least 18 years of age or have the legal capacity to enter into a binding agreement;
2. You have the authority to accept these Terms on behalf of yourself or the entity you represent;
3. Your use of the Website and services complies with all applicable laws and regulations;
4. The information you provide to us is accurate, complete, and not misleading.

Y M Shah & Co. is a firm of Chartered Accountants established in 1990, registered with and regulated by the Institute of Chartered Accountants of India (ICAI). The Firm provides a broad range of professional services to clients across India and internationally, including:

The Firm is headquartered in Vadodara, Gujarat, and serves clients across Gujarat, Pan-India, and internationally. All partners and staff are bound by the ICAI Code of Ethics, which imposes stringent professional obligations including independence, objectivity, and confidentiality.

Subject to your compliance with these Terms, we grant you a limited, non-exclusive, non-transferable, revocable licence to access and use this Website for lawful personal and business information purposes only.

3.1 Permitted Uses

• Browsing and reading the informational content published on the Website
• Downloading or printing individual pages for personal, non-commercial reference
• Submitting an enquiry or requesting a consultation through the Website's contact forms
• Accessing publicly available resources, articles, and educational content

3.2 Access Requirements

You are responsible for ensuring that your equipment and software meet the minimum technical requirements necessary to access the Website, and for all costs associated with accessing the internet and using the Website. We do not guarantee that the Website will be available continuously or free from errors.

The provision of professional chartered accountancy services by the Firm is governed by a separate, written Engagement Letter ("Letter of Engagement") executed between you (or your entity) and the Firm. That Engagement Letter, together with these Terms and our Privacy Policy, constitutes the entire agreement between you and the Firm in relation to the relevant engagement.

4.1 Commencement of Professional Services

No professional relationship is established and no professional services are provided until: (a) an Engagement Letter has been signed by both parties; (b) KYC/AML verification has been completed satisfactorily; and (c) the initial professional fee or retainer (if applicable) has been received.

Submission of an enquiry form on this Website or exchange of preliminary emails does not create a professional relationship or impose any obligation on the Firm to accept the engagement.

4.2 Scope of Services

The Firm will provide only those services expressly described in the Engagement Letter. Any additional services requested during an engagement will require a separate Engagement Letter or written variation. The Firm reserves the right to decline any engagement or withdraw from an engagement in accordance with ICAI's Code of Ethics.

4.3 Client Responsibilities

For the Firm to provide professional services effectively, you agree to:

• Provide complete, accurate, and timely information, documents, and approvals as requested
• Notify the Firm promptly of any changes in circumstances that may affect the engagement
• Not withhold information that is relevant to the services being provided
• Make management decisions and judgments that are within your purview and not delegate such decisions to the Firm
• Inform the Firm of any other advisors engaged in relation to the same matter

Tax laws, GST regulations, company law, and other applicable statutes are complex, subject to frequent amendment, and their application depends entirely on the specific facts and circumstances of each individual or entity. Generic information published on this Website may not reflect the most recent legal developments, may not apply to your particular situation, and may be incomplete.

Before taking any action based on content found on this Website, you should:

1. Consult with a qualified professional advisor (including a Chartered Accountant, Solicitor, or other relevant expert) who can advise you based on your specific circumstances;
2. Independently verify the current status of any law, rule, notification, or circular referenced on the Website;
3. Obtain a formal, written opinion from the Firm under a signed Engagement Letter if you wish the Firm's professional responsibility to attach to the advice.

The Firm expressly disclaims all liability for any action taken or not taken in reliance on the content of this Website without the benefit of a formal professional engagement.

Y M Shah & Co. is regulated by the Institute of Chartered Accountants of India (ICAI) and is subject to the ICAI Code of Ethics, the Chartered Accountants Act, 1949, and all standards, guidelines, and pronouncements issued by the ICAI.

6.1 Independence & Objectivity

Where the Firm is engaged in audit or assurance services, its partners and staff maintain independence in accordance with the requirements of the Companies Act, 2013, the ICAI Code of Ethics, and, where applicable, international independence standards. Clients must promptly disclose to the Firm any circumstances that may affect the Firm's independence.

6.2 Professional Confidentiality

All matters disclosed to the Firm in the course of a professional engagement are subject to strict professional confidentiality obligations under Rule 4 of the ICAI Code of Ethics. These obligations continue indefinitely, even after the engagement has concluded or the professional relationship has ended, and apply to all current and former partners and staff of the Firm.

6.3 PMLA Obligations

As a designated professional under the Prevention of Money Laundering Act, 2002, the Firm is required to conduct client due diligence, maintain records, and file Suspicious Transaction Reports (STRs) with FIU-IND in certain circumstances. Compliance with PMLA obligations takes precedence over the Firm's general duty of confidentiality to the extent required by law.

All content on this Website, including but not limited to text, articles, blog posts, graphics, logos, images, icons, the "Y M Shah & Co." name and branding, page designs, compilations, and software, is the exclusive intellectual property of Y M Shah & Co. or its licensors and is protected by the Copyright Act, 1957, the Trade Marks Act, 1999, and other applicable intellectual property laws.

7.1 Permitted Use

You may view and print content from the Website solely for your personal, non-commercial use, provided you:

• Retain all copyright and proprietary notices on all copies
• Do not modify the content in any way
• Do not use the content in any manner that suggests an association with the Firm without our express written consent

7.2 Prohibited Use

Without our prior written consent, you may not:

• Reproduce, republish, distribute, transmit, or create derivative works from any content on this Website
• Use any content for commercial purposes, including as part of any other website, publication, or media
• Use the Firm's name, logo, trademarks, or branding in any manner
• Deep-link to pages within this Website without our written permission
• Frame or mirror any portion of this Website on any other website
• Use automated scraping tools, bots, or crawlers to extract content in bulk

7.3 Work Product

All advice, reports, opinions, memoranda, and other work product produced by the Firm for a client under a formal engagement remain the intellectual property of the Firm until all professional fees have been paid in full. Upon full payment, the client receives a non-exclusive, non-transferable licence to use the work product for the purposes for which it was commissioned.

By using this Website and engaging our services, you represent, warrant, and agree that:

1. All information you submit to the Firm (whether through the Website, email, phone, or in person) is accurate, complete, truthful, and not misleading
2. You will promptly update information provided to the Firm if it becomes inaccurate or incomplete
3. You have the legal authority to submit any information or documents provided, including documents relating to third parties (e.g., your company's financial data)
4. Your use of this Website and engagement of our services does not violate any applicable law, regulation, court order, or contractual obligation binding on you
5. You will not impersonate any person or entity or misrepresent your identity, affiliation, or authority
6. You will pay all professional fees and disbursements as per the terms of the Engagement Letter
7. You understand that tax planning must be based on lawful arrangements and will not seek the Firm's assistance in any scheme that constitutes tax evasion, fraud, or money laundering

You agree not to engage in any of the following activities in connection with this Website or your engagement with the Firm:

• Submitting false, fraudulent, misleading, or defamatory content through any form or communication channel on the Website
• Uploading, transmitting, or distributing any virus, malware, ransomware, spyware, or other malicious code via the Website
• Attempting to gain unauthorised access to any part of the Website or the Firm's internal systems, networks, or client data
• Conducting denial of service (DoS) or distributed denial of service (DDoS) attacks against the Website
• Using the Website to harvest, scrape, or collect personal data about third parties without their consent
• Engaging in any activity that infringes the intellectual property rights of the Firm or any third party
• Using the Website to send unsolicited bulk communications, spam, or chain letters
• Circumventing or disabling any security or access control features of the Website
• Using the Website or the Firm's services to facilitate, assist, or enable any illegal activity including money laundering, tax evasion, bribery, or corruption
• Making false or misleading statements about the Firm, its services, partners, or staff on any platform

To the fullest extent permitted by applicable law, this Website and its content are provided on an "as is" and "as available" basis, without any representations or warranties of any kind, express or implied, including but not limited to:

• Implied warranties of merchantability, fitness for a particular purpose, or non-infringement
• Warranties as to the accuracy, completeness, currentness, or reliability of any content on the Website
• Warranties that the Website will be uninterrupted, error-free, or free from viruses or other harmful components
• Warranties that defects will be corrected or that the Website or the server that makes it available are free from viruses

While we make every effort to keep the content on this Website accurate and up to date, tax laws, regulations, and government notifications change frequently. The Firm does not warrant that the content reflects the current state of the law at the time of your access.

11.1 Exclusion of Liability for Website Content

To the fullest extent permitted by law, the Firm, its partners, employees, and agents shall not be liable for any loss or damage (including indirect, consequential, special, incidental, exemplary, or punitive damages) arising from:

• Your use of, or inability to use, this Website
• Your reliance on any information, content, or advice published on the Website without a formal engagement
• Unauthorised access to or alteration of your data transmitted to or from the Website
• Any errors, omissions, or inaccuracies in the Website content
• Any delay or failure in the Website's operation due to events beyond our reasonable control

11.2 Cap on Professional Services Liability

Where the Firm has accepted a formal engagement and liability is established, the Firm's aggregate liability (whether in contract, tort, negligence, or otherwise) shall be limited to the total professional fees paid by the client to the Firm under the relevant Engagement Letter during the 12 months preceding the event giving rise to the claim.

The Firm shall not be liable for any indirect, consequential, or special loss, loss of profit, loss of revenue, loss of data, or loss of business opportunity, even if the Firm had been advised of the possibility of such losses.

11.3 Force Majeure

The Firm shall not be in breach of these Terms or liable for any delay in performing, or failure to perform, any of its obligations if such delay or failure results from events beyond our reasonable control, including acts of God, natural disasters, pandemic, war, government actions, power failures, cyberattacks, or internet outages.

You agree to indemnify, defend, and hold harmless Y M Shah & Co., its partners, associates, employees, article clerks, agents, and successors from and against any and all claims, liabilities, damages, losses, costs, and expenses (including reasonable legal fees) arising out of or relating to:

1. Your use of this Website in violation of these Terms
2. Your breach of any representation, warranty, or obligation under these Terms
3. Your submission of false, inaccurate, or incomplete information to the Firm
4. Any third-party claim arising from your use of the Firm's services or work product in a manner not authorised by the Engagement Letter
5. Any violation of any applicable law or third-party rights by you in connection with your use of this Website or engagement of our services

Both parties agree to maintain the confidentiality of all information exchanged in the course of the professional relationship that is designated as confidential or that a reasonable person would understand to be confidential by nature, including all client financial data, business strategies, internal documents, and professional advice.

13.1 Firm's Obligations

The Firm's confidentiality obligations to you are governed by: (i) these Terms; (ii) the Engagement Letter; (iii) the ICAI Code of Ethics; and (iv) applicable data protection law as set out in our Privacy Policy. These obligations continue indefinitely beyond the termination of the engagement.

13.2 Exceptions to Confidentiality

The Firm's duty of confidentiality does not apply to information that:

• Is or becomes publicly available through no breach of these Terms by the Firm
• Was already in the Firm's possession before the engagement without any confidentiality obligation
• Is required to be disclosed by law, a court order, or a competent regulatory authority (including FIU-IND under PMLA)
• Is disclosed in connection with the Firm's quality review or practice monitoring by ICAI or another authorised body
• Is disclosed to the Firm's professional indemnity insurers or legal advisors on a confidential basis

13.3 Client's Obligations

You agree to keep confidential all advice, reports, opinions, and work product provided by the Firm and not to disclose them to third parties without our prior written consent, except to your own professional advisors who require access to the work product for the purposes for which it was commissioned.

This Website may contain hyperlinks to third-party websites, including government portals (Income Tax e-Filing portal, GSTN, MCA21, SEBI, RBI), professional associations (ICAI, ICSI, IBBI), financial institutions, and other resources. These links are provided for your convenience as an informational resource only.

The Firm does not endorse, control, or accept responsibility for the content, privacy practices, accuracy, or availability of any linked third-party website. Accessing any linked site is entirely at your own risk. The Firm strongly recommends that you review the terms and privacy policy of any third-party website before providing any personal or financial information.

Professional fees for services rendered by the Firm are as specified in the Engagement Letter. The following general terms apply to all engagements unless specifically varied in the Engagement Letter:

• Basis of Fees: Fees may be quoted as fixed fees, time-based fees, milestone-based fees, or a combination thereof, as agreed in the Engagement Letter
• Disbursements: All out-of-pocket expenses incurred on your behalf (e.g., government filing fees, stamp duty, travel expenses if applicable) are billed in addition to professional fees and are payable at cost
• GST on Fees: Professional fees are subject to Goods and Services Tax (GST) at the applicable rate. The Firm will issue a valid GST tax invoice for all fees and disbursements
• Payment Terms: Invoices are payable within 15 days of the date of invoice unless otherwise agreed. The Firm reserves the right to suspend or withhold services in the event of non-payment
• Interest on Late Payment: The Firm reserves the right to charge interest on overdue amounts at the rate of 18% per annum from the due date until the date of actual payment
• Fee Disputes: Any dispute regarding fees must be raised in writing within 7 days of receipt of the invoice. Failure to raise a timely dispute shall be deemed acceptance of the invoice
• Retainers: Where a retainer has been agreed, services will be provided up to the scope defined and the retainer amount will be credited against monthly/periodic invoices

16.1 Termination by Either Party

Either party may terminate an engagement at any time by providing written notice to the other. Professional fees for work completed up to the date of termination are payable in full.

16.2 Immediate Termination by the Firm

The Firm may terminate an engagement with immediate effect and without liability to you if:

• You breach any material obligation under the Engagement Letter or these Terms and fail to remedy the breach within 7 days of written notice
• You provide false, misleading, or fraudulent information to the Firm
• The Firm determines, in its professional judgement, that continuing the engagement would breach the ICAI Code of Ethics, any applicable law, or the Firm's risk management policies
• You engage in conduct that constitutes or may constitute money laundering, tax evasion, fraud, or other illegal activity
• You fail to pay undisputed invoices within 30 days of the due date

16.3 Effects of Termination

Upon termination: (i) all outstanding fees become immediately due and payable; (ii) the Firm will return your original documents within a reasonable time upon receipt of full payment; (iii) each party's confidentiality obligations and any other obligations that by their nature should survive termination shall continue in full force and effect.

16.4 Website Access

The Firm reserves the right to restrict, suspend, or terminate your access to this Website at any time without notice and without liability, for any reason including breach of these Terms.

These Terms of Use, and any dispute or claim arising out of or in connection with them or their subject matter (including non-contractual disputes or claims), shall be governed by and construed in accordance with the laws of the Republic of India.

Subject to the dispute resolution clause below, the courts at Vadodara, Gujarat, India shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with these Terms or its subject matter.

If you are accessing this Website from outside India, you do so at your own risk and are responsible for compliance with your local laws. Nothing in these Terms constitutes a waiver of any right or remedy available under applicable local laws.

18.1 Good Faith Negotiation

The parties shall first attempt to resolve any dispute, controversy, or claim arising out of or relating to these Terms, or the breach, termination, or validity thereof, through good faith negotiations. Either party may initiate the negotiation process by providing written notice to the other party specifying the nature of the dispute and the relief sought. The parties shall negotiate for a period of 30 days from the date of such notice (or such longer period as may be agreed in writing) before initiating any formal dispute resolution proceedings.

18.2 Mediation

If the dispute is not resolved through negotiation within the prescribed period, either party may refer the dispute to mediation before a mutually agreed mediator in Vadodara. The costs of mediation shall be shared equally between the parties.

18.3 Arbitration

If the dispute is not resolved through negotiation or mediation, it shall be finally resolved by arbitration under the Arbitration and Conciliation Act, 1996 (as amended). The arbitration shall be conducted by a sole arbitrator mutually appointed by the parties, or if the parties cannot agree, appointed by the Court. The seat and venue of arbitration shall be Vadodara, Gujarat, India. The language of arbitration shall be English.

18.4 Interim Relief

Nothing in this clause prevents either party from seeking urgent interim or injunctive relief from a competent court of law where necessary to protect its rights pending the outcome of arbitration or mediation proceedings.

We reserve the right to modify, update, or replace these Terms at any time at our sole discretion. When we make material changes, we will:

• Update the "Last Reviewed" date at the top of this page
• Post a notice on our website for a minimum of 30 days before the changes take effect (for material changes affecting existing clients)
• Where required by law, seek your fresh consent

Your continued use of this Website or engagement of our services after the effective date of any amendments constitutes your acceptance of the revised Terms. If you do not accept the revised Terms, you must cease using the Website and give notice of termination of any ongoing engagement.

For active engagements, existing Engagement Letters remain binding and are not affected by amendments to these general Terms unless specifically agreed by both parties in writing.

For any questions, concerns, or notices related to these Terms of Use, please contact us at:

These Terms of Use were last reviewed in . The Firm is registered with the Institute of Chartered Accountants of India (ICAI). All professional services are subject to the ICAI Code of Ethics and applicable law.