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DIRECT TAXES

With tax laws progressing each day, it is crucial for businesses to be cognizant with timely compliance challenges that may pose a threat and lead to penalties and prosecution. A tax-efficient structure for the businesses will release the burden from the entity’s shoulders and thereby ensure pertinent compliances. Our service portfolio includes advisory and compliance services w.r.t. income tax, advance tax, tax deducted at source and wealth tax.

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Corporate Tax: Corporate tax is a tax levied on profits earned by various entities. Companies registered under Companies Act or any other act for the time being in force are obligated to pay such tax at a rate specified by the Income Tax Act, subject to changes in rates from time-to-time. We assist organizations in corporate tax returns filing, advising on tax planning opportunities, tax compliances, opinions and representations. We also provide opinion on complex tax issues and assist in the review of tax strategy vis-a-vis business strategy

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Personal Tax: Apart from tax paid on business earnings, tax paid on one’s personal income is termed as personal tax. We manage tax computation for tax withholding, advance tax and tax filings. Our team is experienced in representations before revenue authorities. In our NRI desk, we also provide assistance in obtaining various registrations for non-residents such as registration with foreign regional registration office (FRRO), permanent account number (PAN) etc

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Tax

INDIRECT TAXES

The indirect tax system in India has undergone a major change in July 2017 with the introduction of GST, replacing the erstwhile systems of excise, VAT, Service Tax, etc. The new regime aims at greater transparency and fairness across the range of goods and service providers, however, it also introduces significantly higher compliance requirements in the form of multiple returns every month, multiple tax payments every month and constant reconciliation of tax credits being claimed by each entity. With this change, many small and large businesses in India are at a loss to understand the transition and fulfil their tax liabilities correctly

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Our team is involved in every step of the process and in several cases, eliminates the need for our clients to hire more employees to keep up with the additional GST workload. We provide the following indirect tax services to our clients:

  • GST registration and migration

  • Ongoing calculation of GST liabilities and credits

  • Filing of GST returns

  • Liaising with tax authorities in cases of tax demands, scrutiny or disputes for both GST and erstwhile indirect tax issues (service tax, VAT, excise, etc.)

  • Interpretation of GST Act and specific sections based on clients’ industry, products, exporter/importer status and other unique circumstances.

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