Taxation

DIRECT TAXATION
INCOME TAX
The law of income tax is a very complex law. It will continue to be so, in spite of all efforts for its simplification and rationalization. This Act extends to whole of India and applies to every person. As per the law, every person whose total income or the income of any other person in respect of which he is assessable under this Act during the previous year exceeds the maximum amount which is not chargeable to income tax shall on or before the due date, furnish a return of his income or the income of such other person, in the prescribed form.
 
WEALTH TAX
We provide following services for direct taxation
  • Preparation and filing of income tax return of various entities.
  • Preparation and Filling of the TDS Return.
  • Representation for Assessment and other proceedings in the tax department.
  • Representation in Appeals before Commissioner (Appeals).
  • Representation in Appeals before Income Tax Tribunal.
  • Tax Planning services.
  • Tax Advisory services and structuring of business transactions to minimize tax incidence.
  • Other compliances as per Income Tax Act, 1961, and Wealth Tax Act.
 
INDIRECT TAXATION
GOODS & SERVICES TAX (GST)
The Goods and Services Tax (GST) has been brought into effect from 1st July, 2017. This landmark legislation promises to change the entire gamut of indirect taxation in India. Te entire scenario of indirect taxation in India, with its myriad duties levied and administered by different government bodies, at the central, state or local level and the resulting multiple compliances as well as the collection and administrative inefficiencies are sought to be simplified with the advent of GST. The introduction of GST has resulted in the myriad central, state and local taxes being subsumed into a single tax. This will result in efficient tax collection and administration, ease in compliances and tax burden on businesses. The Government has set up a comprehensive IT infrastructure to administer this tax. The introduction of GST will also push the concept of 'Make in India', where local businesses will be encouraged to manufacture, for the domestic as well as for export market. The concept of inter-sectoral tax credit will also bring down costs and make businesses competitive.
 
We provide the following services for indirect taxation
  • Advisory services with regard to applicability of the tax, as well as procedural compliance such as registration, assessments, etc.
  • Review of contracts and agreements to help identify & mitigate the overall incidence of GST.
  • Conducting GST health checks in order to determine the GST implications on client operations, gauge compliance with legal provisions and suggest tax planning opportunities.
  • Rendering advice on a wide range of issues relation to GST implications on cross-border transactions.
  • Assistance in claiming GST input credits.
  • Suggestions on the right strategy to minimize the GST incidence.
  • Assistance in the structuring of transactions and agreements in relation to inter-state and intra-state sales in order to minimize tax incidence.
  • Provide services to comply with periodic GST compliances.
  • Representation for Assessment and other proceedings at the GST department.
  • Representation at the Appellate level.
 
 
     
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