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Taxation

Today's Tax environment is complex and tax department is becoming effective. This has lead to more transparency and increasing demands for tax. We provide assistance to deal with different areas of taxation right from tax planning till representing before different tax authorities. We focus on following taxes levied by Central and / or State:

  • Direct Tax (Income Tax):
  • Indirect Tax (Goods and Services Tax)

Income Tax :

As per the provisions of the Income Tax Act, person is liable to pay Tax on Income. There are certain deductions or exemptions from payment of taxes and filing tax return however, detailed study is required to claim exemption.
Our Services are categorised as under:

  • Tax Compliances
  • Tax Advisory
  • Litigation & Representation
  • International Taxation
  • Expatriate Taxation
  • Transfer Pricing

Tax Compliance :
There are numerous compliances specified under different provisions of the Income Tax Act. We assist organisations to comply with all the Income Tax Compliances.
To name a few, the compliances under Income Tax Act, includes:
Obtaining Permanent Account Number(PAN) and Tax Deduction Account Number (TAN),
Computing Tax Withholding (TDS) from various payments to Non Resident and Residents,
Issuing Form 15CB before remittance to Outside India, Making Payment of Tax withheld, Filing TDS Returns, Issuing TDS Certificates,
Computing Advance Tax, Making Payment of Tax and Filing Income Tax Return in India
Obtaining Lower or Nil tax deduction certificate
Filing tax return of Foreign National/Foreign Entities in India

Tax Advisory :
The Tax Laws are very complex and due to debatable provisions, prolonged litigation cannot be ruled out. We provide advisory to Organisation which helps them to determine the tax exposure and plan their cash flow.
Our advisories include:

  • Exposure of Income tax on a given transaction;
  • Optimising Tax Liability/Tax Planning;
  • Advisory relating to tax on Capital Gain;
  • Advisory to Trusts;
  • Advisory relating to allowability of certain deductions; etc...

Litigation & Representation :
Business has become more and more complex and the tax provisions are to some extent debatable. Tax department is becoming more effective and looking into the substance of the transaction. This has lead to detailed scrutiny of the business and differences of opinions between business house and tax administration. Such differences of opinion lead to litigation.
We provide various services relating to enquiry and litigation, few of them are:

  • Replying to various notices issued by the tax department
  • Representing for Scrutiny Cases (Including Re-assessment)
  • Filing and Representing Case before Appellate Authorities (Commissioner of Income Tax and Income Tax Appellate Tribunal) [ CIT(A) and ITAT]
  • Compiling set of documentation for the Counsel representing before High Court or Supreme Court
  • Filing Application for Advance Ruling before AAR

International Taxation :
Expansion of business at global level has lead to attracting tax laws of different jurisdictions and thereby increasing tax liability and tax compliances in different countries. Government of India has entered into the Tax Treaties with various countries however, the complexity and litigation cannot be ruled out for certain matters.
We are specialised in providing advisory relating to cross border transactions. We assist organisation to know their tax exposure and the tax implications in India.
We provide different advisory relating to cross border transactions and some of them are listed below:
Advisory relating to

  • Deputation Structuring
  • Transaction Structuring
  • FEMA implication and compliance requirement
  • Exposure of Permanent Establishment (PE) in India
  • Transfer Pricing Implications in India
  • Taxability of EPC Contracts / Turnkey Projects in India
  • Taxability of Non-resident
  • Tax on Repatriation of Income from India
  • CA Certificate in case of FIIs remitting funds abroad
  • Filing application for Advance Ruling before AAR
  • Filing application for lower withholding tax rate

3.1.5 Expatriate Taxation :
An expatriate is a person residing in a country (temporarily or permanent) which is different from the country of which he is citizen. The globalisation has lead to travelling of people across the globe. This has lead to attracting tax laws of different jurisdictions and thereby increasing tax liability and tax compliances in different countries. It is very important to know the tax implications of income earned by the business connected people and the implications on business of such deputation.
We assist organisations in:

  • Identifying the tax implication in in-bound and out-bound structuring
  • Drafting of Deputation and Employment agreements
  • Exposure of Permanent Establishment (PE) on entity upon deputations
  • Salary Structuring for optimising the tax liability
  • Computing tax withholding / tax liability of expatriate person/employee
  • Filing of tax return of expatriates

Transfer Pricing :
The global business and the exposure to different tax jurisdiction have given rise to complex tax issues relating to transactions entered into between two related parties ie Associated Enterprises (AE). The difference in tax rates has encouraged the shifting of profit from one jurisdiction to another.
Accordingly, in India the regulations of Transfer Pricing were introduced in 2001 to determine the Arm's Length Price (ALP) and thereby tax the reasonable profits in India in relation to transactions between Associated Enterprises.
In this connection, it is very important for Organisation to analyse the implication of Transfer Pricing on transaction with their related parties in India or outside India.
We assist Organisation in:

  • Understanding the Transfer Pricing Regulations
  • Analysing the tax implication on transaction with AE
  • Maintaining Documentation relating to transactions with AE
  • Issuance of report as per the provisions of the Act
  • Preparing detailed Study to explain the method for computing ALP
  • Representing before Tax Authorities during Scrutiny Assessment (TP Assessment)

Indirect Taxation (GST) :

GST is one of the greatest tax reforms in the country in 2017. It applies to all types of businesses, small or large. As per the provisions of the Act, person is liable to pay tax on supply of goods and services. Further, the Law also requires maintaining certain records and carrying out various compliances.
We assist organisations in:

  • Identifying the tax implication on Goods and Services sold or received
  • Compliance with computing tax liability, payment of taxes and filing tax return
  • Representing before tax authorities
  • Advisory relating to complex matters
  • GST Audit
 
     
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