Individual and Corporate Taxation
➔ Income Tax Return Filing
We understand the legal requirement in respect of filing of Income Tax Return and make sure that all of your income is properly disclosed as per the requirements. We ensure that all the deductions, tax credits and benefits are properly claimed to ensure accurate, timely and proper compliance.
➔ Income Tax Notices, Assessments and Appeals
Our team consisting of Chartered Accountants, Lawyers and Tax Experts provide valuable assistance to our clients by responding to income tax notices, representing the
clients in assessments and appeals, responding to show cause notices, assisting during
search, seizures and surveys, negotiation & settlement and alternate dispute resolution.
➔ Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards
(CRS) Reporting
FATCA is the legislature of the United States of America, which aims to combat tax evasion by the taxpayers in the country. It was enacted in 2010 to increase tax reporting
by the U.S. taxpayers on assets held in offshore accounts and through Non U.S. entities.
Whereas CRS is an information gathering and reporting requirement for financial institutions in participating countries / jurisdictions to help in the fight against tax evasion and protect the integrity of tax systems. We assist our clients in filing of FATCA and CRS across various jurisdictions by compiling necessary information in this regard.
➔ Income Tax Advisory Services
We understand the complex compliance requirement of evolving tax laws and assist our clients in Tax Structuring and Planning, Compliance Management, Computing Tax Outflows under different scenarios. We deep dive into the legislative provisions of the law and deliver optimum tax structure for our clients.
➔ TDS compliances
Our TDS compliance services involve scrutinizing books of accounts and documents, identifying transactions under the purview of TDS, preparation of monthly TDS workings and payment challans, filing of quarterly returns, issuing TDS Certificates and determining rates of Taxes. We provide end to end TDS compliance for Salary, Non-Salary and Foreign Remittances.
➔ Lower TDS Deduction Certificates
Lower TDS deduction certificate is issued by Income Tax Department to the deductee on their application, which allows the deductors to deduct the tax at lower rate which ensures non-blockage of funds of the deductee in the form of TDS and improves cash flow of the deductee. We assist our clients by compiling the documents, filing of application form and presenting the case before the Income Tax Officer which ensures issuance of Lower Deduction Certificate.
➔ Expert Opinions
Expert opinions refer to the views, advice, and analysis provided by individuals who have specialized knowledge, skills, and experience in a particular field. Expert opinions are often sought in legal cases, disputes, and other situations where specialized knowledge is required to make informed decisions. We assist our clients by providing our opinion on complex legal issues which enables our clients to avoid future tax disputes.
➔ Transfer Pricing Study and Documentation
Transfer pricing study and transfer pricing documentation are two related concepts that
refer to the process of analyzing and documenting the pricing of transactions between related parties in multinational corporations. We assist our clients by conducting a transfer pricing study, developing pricing strategies, preparing transfer pricing documentation, compliance with regulations and representation before authorities.
➔ Tax Residency Certificate
A tax residency certificate (TRC) is an official document issued by a country's tax authorities that confirms the tax residency status of an individual or entity for a specific period. We assist our clients in making application for TRC by understanding the tax residency rules, liaising with the Income Tax Department, advising of tax benefits and reviewing TRC.
➔ 26AS Reconciliation:
26AS reconciliation refers to reconciling TDS deducted as per books of accounts with TDS credit available as per form 26AS on the Income Tax Portal. We assist our clients by reviewing incomes & receipts and identify the differences for corrective actions. This ensures all the TDS credits available with the taxpayer are rightfully claimed and complete debtors realization.
➔ Filing of Statement of Financial Transactions
SFT (Statement of Financial Transactions) compliance refers to the process of furnishing details of specified financial transactions to the Income Tax Department by the specified due dates. SFT reporting is mandatory for certain persons such as banks, mutual funds, companies, and other specified entities. We assist our clients in filing of SFT by identifying reportable transactions, collating the data and filing the SFT form on the Insight Portal.
➔ Filing of form 26QB - TDS on immovable property
As per Section 194IA of the Income Tax Act, 1961, if the consideration paid for the transfer of the immovable property (other than agricultural land) exceeds Rs. 50 lakhs, then the buyer is required to deduct TDS at the rate of 1% from the payment made to the seller. We assist our clients by calculating TDS payable, collating accurate reportable details, filing of form by depositing the TDS and issuing TDS certificates.
➔ Filing of form 26QC - TDS on rent
As per Section 194IB of the Income Tax Act, 1961, if the total rent paid or payable by an individual or HUD during the financial year exceeds Rs. 50,000 per month, then they shall deduct TDS at the rate of 5% from the rent payable to the landlord. We assist our clients by calculating TDS payable, collating accurate reportable details, filing of form by depositing the TDS and issuing TDS certificates.
➔ Application / Amendment of PAN / TAN
We assist our clients in obtaining PAN / TAN registration by compiling the required documents along with submission of application form. Our services also include obtaining PAN for Non-residents, Foreign Companies and Liaisoning / Branch Offices, wherever applicable. We also assist our clients in making amendment applications of existing PAN / TAN registrations.