Direct tax is the tax paid directly to the government by the persons on whom it is imposed. It cannot be shifted onto others. The best examples of direct taxes are income tax and property tax. Direct tax is often accompanied by a tax return filing by the taxpayer. Direct tax consultancy, together with innovative tax-efficient strategies provided by us form an integral part of viable business decisions. These help our clients attain the desired goals. We adopt a “result-oriented approach,” which is flexible and emphasizes delivery and value. It enhances the effect of commercially viable decisions and minimizes the tax burden. 

Tax Consultancy Services for Corporate Clients

With complete functional we undertake Direct Tax services for corporate clients. Our tax services for corporate clients include:

• Daily tax matters which include replying to various tax notices and providing necessary tax support on regular tax matters.
• Management of tax records and reports in both Soft and Hard files including documentation.
• Tax compliance that includes advance Income tax and Fringe Benefit Tax (FBT) calculations and deposits, TDS compliance and filing of returns.
• Compilation of tax details for audit and support to the auditors.
• We provide all important information to statutory auditors or management auditors in relation to tax matters.
• We support in the compilation of Transfer pricing documentation and certification.
• We also guide in the compilation of corporate tax returns such as Income tax, wealth tax and FBT, and also its e-Filing with the revenue department.
• We provide support in the areas of PAN, TAN and online tax credits view also.
• We provide tax reporting on defined frequencies such as monthly, quarterly, annually to Parent Company according to their formats.
• Compilation of Various details for Tax Assessment purposes such as Scrutiny and Appellate level for Income tax and Transfer pricing.

Personal Taxation Consultancy Services

We offer personal taxation consultancy services like personal tax planning, personal tax consultancy services, tax compliance and advisory services that cover the following:

• Personal Tax Consulting.
• Personal Tax Services Compliances that includes compiling and filing of Tax returns.
• We provide review and assistance in advance tax computations.
• Representation before the Tax authorities related to tax assessments, refunds or other matters.
• We guide in getting various tax registrations that includes Permanent Account Number (PAN).
• Management of tax records in Soft and Hard forms.
• Advisory on tax issues like capital gains/ loans/ tax Investments etc.

Tax Compliances

We undertake Regulatory compliances such as statutory returns and documents preparations, compilations and e-filings with the revenue authorities that include the following:

• Tax Audits as per the provisions of the Indian Income-tax Laws.
• We help in the preparation and review of corporate tax returns to ensure the compliances with the Income Tax Act, 1961 and the various judicial pronouncements.
• We guide for the preparation and review of the withholding tax (TDS) returns as per the provisions of the Income Tax Act, 1961.
• Seeking Advance Rulings.

Tax Representations

We undertake tax representations before the revenue authorities for tax assessments and appellate proceedings of income tax, transfer pricing cases, and other tax-related matters.

Foreign Remittance Certification

We also undertake consultancy and certification services required for making foreign remittances according to the provisions of Section 195 of the Income Tax Act, 1961, or as per Double Taxation Avoidance Agreements (DTAA) as per the guidelines of the Reserve Bank of India (RBI). The services of this category broadly include:

• We offer expert suggestions on the applicability of withholding tax on various foreign remittances as per Indian Income tax Act / DTAA.
• We guide in matters of issuing Foreign Remittance Certificates under the various provisions of the Income Tax Act, 1961.
• We guide in the Royalty and Technical know-how workings as per Reserve Bank of India (RBI) guidelines and formats and withholding the tax certification on such remittances.
• We help in seeking of certificates from the International taxation department for non/lower deduction of tax at source (TDS).
• Representations before International taxation authorities regarding matters arising out of withholding tax on foreign remittances.
• We also help in other documentation and remittance support and dealing with authorized dealers regarding foreign remittances.

WITHHOLDING TAX

Under the Act, a person making certain specified payments such as salary, contractual payments, rent, interest, professional or technical fees, commission, payments to non-residents, etc. is required to withhold tax at source from such payments and comply with the associated requirements in respect of deposit of taxes in the Government treasury in the prescribed manner, issue of tax credit certificates and filing withholding tax returns. The rationale of withholding tax is to provide a mechanism for tax authorities to collect tax at the source of income, and also to expand the tax base.

Failure to comply with the prescribed withholding requirements could result in the levy of penal interest, penalty and prosecution under the Act, in addition to the liability to make up for the taxes not withheld/deposited.

The following chart depicts the withholding tax provisions prescribed under the act:

Some of the direct tax services provided by us include:

• INCOME TAX & WITHHOLDING TAXES
  • Advising on Income Tax Planning of Corporate.
  • Advising & reviewing of all necessary tax withholding responsibilities.
  • Advising all financial subjects which are of your interest and keeping you updated on the new amendments, circulars, notifications & judgments.
  • Verification of all payments to vendors for the purposes of determination of correct application of rates and category for deduction of withholding taxes.
  • Computation of monthly TDS on the basis of above.
  • Monthly tax reconciliation of the TDS due and deducted.
  • Preparation and deposit of Monthly challans on or before the statutory due dates.
  • Filing of quarterly E-TDS Returns.
  • Filing annual Income Tax return.