What VSM & Associates does

VSM & Associates is an Indian chartered accountancy partnership firm founded in 2002 by CA Sunil Kumar Pathak and headquartered in Gurgaon, Haryana, with branch offices in New Delhi and Mumbai. The firm provides a comprehensive suite of professional services spanning Assurance Advisory (including M&A advisory, valuations, and due diligence), Taxation (corporate tax, TDS, VAT, service tax), Audit (statutory, tax, concurrent, and information system audits), Corporate Services (incorporation, Company Law compliance, secretarial matters), Corporate Finance (project reports, CMA data, credit facilities), Accounting Services, Payroll management, Corporate Governance Services, and specialized services for non-residents covering FEMA/RBI matters and repatriation. Its service architecture is a modular professional practice rather than a technology platform, with each line delivered by qualified chartered accountants.

The firm's client base spans four customer segments: Corporates, Partnerships, High Net Worth Individuals, and Individuals, across verticals including Manufacturing, FMCG, Automobiles, Real Estate, Media & Event Management, Consulting, E-Commerce, and Service industries. Revenue is generated through professional fees on a quote-based engagement model, with no publicly disclosed pricing, no subscription or retainer structure, and no intermediary channels. Go-to-market is direct client engagement supported by a website with 'Request a Call Back' lead capture, supplemented by professional referrals. The firm claims Pan India delivery capability through multiple associates, and also provides incubation advisory and consulting for foreign enterprises entering India as well as Indian businesses operating outside India.

Ownership is concentrated with the founding partner, and there is no evidence of external institutional investment, PE/VC backing, or parent-company ownership. The firm is founder-owned and bootstrapped, consistent with the standard structure of Indian CA partnership practices. The practice has not pursued technology-led differentiation, and the competitive positioning rests on the founder's professional expertise, the breadth of service coverage, and geographic reach via an associate network rather than proprietary technology or scale advantages.

Name

VSM & Associates

Legal name

VSM & Associates

Website

https://vsmassociates.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

1–10 employees

Short description

VSM & Associates is an Indian chartered accountancy partnership firm founded in 2002, providing accounting, taxation, audit, corporate finance, and advisory services to corporates, partnerships, HNIs, and individuals across India from offices in Gurgaon, New Delhi, and Mumbai.

Ownership category

akta.pro rank

Product category

Chartered Accountancy Services

NAICS

Management Consulting Services (54161), Other Management Consulting Services (541618)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Buy-Side M&A Advisory (FSAEAGAB)

akta.pro secondary industries

Industry-Specialist / Sector-Focused M&A Advisory (FSAEAGAJ), Mergers & Acquisitions (M&A) & Securities Law (BPAHAAAI)

Keywords

• Chartered accountancy services
• Tax compliance advisory
• Corporate audit services
• Financial advisory services
• Payroll management services

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Professional Advisory Services: Revenue is generated through professional fees for accounting, taxation, audit, corporate finance, and advisory services. Services are provided to corporates, partnerships, HNIs, and individuals.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

VSM & Associates is a chartered accountancy partnership firm providing professional services including assurance advisory, taxation (corporate and individual), audit (statutory, tax, concurrent, information system), corporate governance, corporate finance, accounting, payroll management, and specialized services for non-residents. The firm serves corporates, partnerships, HNIs, and individuals, offering a single-window solution for accounting, taxation, and financial concerns.

Product overview

VSM & Associates is an accounting, taxation, and financial consulting firm providing a comprehensive suite of professional services to corporates, partnerships, HNIs, and individuals. The firm operates a platform-plus-modules service architecture with Assurance Advisory as a distinct offering covering M&A, due diligence, and valuations; Taxation services spanning corporate tax, individual tax, VAT, TDS, and service tax; Corporate Services including incorporation and Company Law matters; Corporate Finance covering project reports and credit facilities; Audit services across statutory, tax, concurrent, and information system audits; Accounting Services for system design, financial reporting, and analysis; Payroll management; and specialized services for non-residents and corporate governance. The individual modules are standalone professional service offerings that collectively address the complete business solution needs from compliance to strategic advisory.

Differentiator

Problem solved

Functional benefit

Products and services

• Assurance Advisory Transaction advisory services including M&A advisory, valuations, restructuring, and private equity/debt syndication; due diligence services for debt and transaction-related matters; SME growth preparation including structuring and international certifications. Targeted at corporate clients requiring strategic financial advisory.
• Taxation Corporate tax and individual tax planning and compliance; excise and service tax advisory; VAT planning and compliance with audit services; labor laws compliance audit and HR audit. Serves corporates, partnerships, HNIs, and individuals requiring tax advisory and compliance.
• Tax Deducted at Source (TDS) TDS compliance services including TAN registration, periodic review, monthly computation and deposit, quarterly E-TDS returns filing, correction statements, and TDS assessments. Designed for corporates and businesses requiring TDS compliance.
• Corporate Governance Services Periodic monitoring through internal audit, independent audit and verification, effective supervision, accountability measures, independent directors oversight, audit committee formation, and disclosure compliance. Targeted at listed and large corporate entities.
• Services for Non-Residents PAN allotment, tax planning, advance rulings, FEMA/RBI consultancy, income tax return filing, investment advice, repatriation certificates, and RBI applications for property transactions. Targeted at Non-Resident Indians and foreign individuals needing India tax and regulatory compliance.
• Value Added Tax (VAT) Sales tax registration under Central Sales Tax Act and Delhi VAT, VAT return preparation and filing, statutory forms procurement, VAT authority liaison, assessments, and Delhi Works Contract Tax advisory. Serves businesses operating in Delhi and across India subject to VAT regulations.
• Payroll Monthly salary sheet preparation, statutory deductions (Income Tax, PF, Professional Tax), TDS/ESI/PF computation and deposit, salary disbursement, password-protected pay slips, Form 16 issuance, reconciliation services, and gratuity/pension administration. Targeted at corporates and businesses outsourcing payroll processing.
• Service Tax Service tax registration, records maintenance and accounting consultancy, Cenvat credit compilation, abatement assistance, service tax credit utilization, computation, return preparation and filing, and assessments. Targeted at businesses providing taxable services.
• Audit Statutory audit of companies, tax audit under Section 44AB, concurrent audits, bank revenue and branch audits, PF trust and cooperative society audits, information system audits, and internal audits. Serves corporates, banks, PF trusts, and cooperative societies.
• Corporate Services Company incorporation, Company Law consultancy, merger and acquisition planning, annual returns filing, Clause 49 compliance review, secretarial matters, statutory records maintenance, and public/rights/bonus issue consultancy. Targeted at corporates and promoters requiring Company Law compliance.
• Corporate Finance Project report preparation, CMA data preparation for bank loans, private placement of shares, inter-corporate deposits, term loans, working capital limits, and external credit borrowings (ECBs). Targeted at businesses seeking debt or equity financing.
• Income Tax Income tax consultancy, tax management and structuring, tax planning, salary structure optimization, advance tax rulings, PAN services, advance tax estimation, returns filing for all assessees, liaison with tax department, search and seizure litigation support, and FEMA settlement. Targeted at corporates, HNIs, and individual taxpayers.
• Accounting Services Accounting system design and implementation, financial accounting, budgeting, financial reporting, MIS reports, financial analysis, asset accounting management, and depreciation/amortization schedules. Serves corporates and businesses requiring outsourced accounting.
• Other Services SOX audit, project reports and project finance, corporate secretarial compliance, bank funding and line of credit, and licensing of stores. Targeted at corporates with cross-border operations and retail businesses requiring licensing.

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves4 records

Expansion highlights4 records

Broad incumbents

• Deloitte India: Big 4 advisory and audit presence in India. Comparable to VSM across audit, tax, and corporate finance service lines but competing in entirely different segments due to scale and brand.
• KPMG India: Big 4 advisory and audit presence in India. Comparable to VSM in core CA services but targets enterprise and large-cap clients that VSM cannot effectively compete for.
• BDO India: Global advisory and accounting network's India operations. Comparable to VSM in audit, tax, and advisory offerings, serving overlapping mid-market and SME clients.
• PwC India: Big 4 advisory and audit presence in India offering assurance, tax, and advisory. Comparable service taxonomy to VSM but with materially greater resources and enterprise client base.
• Grant Thornton India: Mid-tier-focused advisory firm in India with audit, tax, and transaction advisory. Comparable to VSM's positioning at the mid-market end of the CA/advisory space, but at a larger scale.
• S.R. Batliboi & Co (EY India member firm): Indian arm of a Big 4 audit and advisory network. Comparable to VSM as an Indian-headquartered CA practice but operating at significantly greater scale with the EY global platform behind it.

Direct peers

• Suresh Surana & Associates: Indian chartered accountancy firm offering audit, tax, advisory, and transaction services to corporates and HNIs. Comparable to VSM as a similarly-positioned domestic CA practice serving mid-market clients across India.
• Lodha & Co: Established Indian chartered accountancy firm providing audit, tax, advisory, and corporate services. Comparable to VSM as a like-sized domestic CA practice with multi-office presence and similar service breadth.
• Bansal & Co: Indian chartered accountancy firm providing audit, tax, and corporate advisory services. Comparable to VSM as a similarly-sized domestic CA practice competing for the same mid-market and SME client base in North India.
• Walker Chandiok & Co (Grant Thornton affiliate): Indian audit and advisory firm. Comparable to VSM as a domestically-headquartered CA practice with a similar mix of audit, tax, and advisory services for Indian corporates.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VSM & Associates