Direct Taxes

Our Compliance professionals provide a breadth of expertise in tax administration and process improvement to help clients effectively manage their compliance processes and focus on a broader strategic vision for total tax performance. Our approach goes beyond the form and gives you insights that can help you see tax strategically and do more for the future of your business. Our services include:

– Filing of Income Tax Returns and Tax Audits as per the provisions of the Indian Income tax Laws
– Monthly compiling of TDS from client records, timely deposit of taxes, filing of Quarterly E-TDS returns & issuance of Annual Certificates to Vendors. etc.
– Generating and issuing Forms 16 and Form 16A.
– Withholding Tax Advisory and issuing requisite certificate
– Obtaining various certificate from Income Tax department.
– Help during tax audit by revenue and other authorities
– Obtaining of PAN / TAN.
– Compliances under PF, gratuity, superannuation, and other such Acts

Facing an investigation or litigation or a serious dispute can be one of the most challenging times for any business. These are times when it’s critical to have credible advisers you can trust. We represent our clients before various Regulators such as the Registrar of Companies. Regional Directors, Ministry of Corporate Affairs, Income Tax Department, RBI, Registrar of Trademarks, Company Law Board, National Company Law Tribunal, Trademark Tribunals, Intellectual Property Appellate Board, Securities Appellate Tribunals, and other quasi-judicial forum.

We provide 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). We also provide the services obtaining Lower TDS Certificate from the Income Tax Department. Services in this category broadly include:
– Issuing Foreign Remittance Certificates under the various provisions of the Income Tax Act, 1961
– Opinion on Applicability of withholding tax on various foreign remittances as per Indian Income tax Act / DTAA.
– We help in seeking of certificates from the income tax department for non/lower deduction of tax at source (TDS).

Tax planning isn’t just something that you should think about only during the tax season. Ideally, you should always keep an eye on efficient tax-saving schemes and strategies by certified income tax planners that can help you maximize your income tax savings and increase your investments. As each person’s income and income tax calculation is unique. Our experts perform an in-depth analysis of all your tax-related
requirements and prepare an ideal plan for you. Our services under this category broadly include:
– Tax Implication on each Transaction which involve Income element
– Personal Tax Compliances – Compiling and filing of Tax return.

– Advance tax calculations and deposit on quarterly basis and deposit of self-assessment tax and tax on regular assessments etc.
– Replying to various Income Tax Notices, getting wrongly raised demand deleted and getting refunds, if any.

Tax always come into picture in almost in every stage of business. Thus, to avoid uncertain losses related to tax, it is necessary to take advice before conducting a business transaction. Hence it’s better to do tax planning in advance to mitigate the risk.

We have a highly experienced team of professionals that provide Corporate Tax Advisory to deal with an ever-evolving and increasingly complex body of tax legislation. Our range of Corporate Tax Advisory Services broadly include:
– Identification of tax exposures and planning for tax efficiency.
– Corporate Tax advisory and planning for positions to be adopted in the tax return.
– Corporate Tax Planning and Management including Identification of risks, planning opportunities, and compliance requirements.
– Certification Work including the issuance of various certificates and Audit Reports under the Income-tax Act.
– Advice on corrective measures required under different Direct Tax statutes.
– Advising on withholding tax obligations on payments.
– Representation before Regulatory Authorities.

Owed to the fact that transfer pricing is becoming an increasingly relevant and important aspect for businesses across the globe due to rapid expansion of the global markets, we believe that one must look at transfer pricing as an extension of a business rather than a mere compliance practice.

To provide a regulatory framework for the said transactions, the Finance Act, introduced new sections 92A to 92F for fair and equitable profits and tax in India. The main objective behind the introduction of the said sections was to check the fairness of the transactions between the related party.

These sections consider the Arm’s length price to be the fair or equitable price for transactions undertaken between two or more related/associated parties, across countries. Transfer pricing refers to the price of goods/services which is used in accounting for the transfer of goods/services from one company to another associated company. Thus, the profitability, return on investment and managerial performance evaluation of both the entities are affected.

IMPORTANCE OF TRANSFER PRICING
1. CORRECT PRICING OF GOODS/SERVICES – An effective transfer pricing mechanism provides support for incorrect pricing of goods/services. Since an organization undertakes frequent transactions with its associated enterprises, the
correct pricing becomes a necessity.
2. PERFORMANCE EVALUATION – Proper and correct accounting of all the transactions, helps incorrect evaluation of an enterprise’s performance.
3. COMPLIANCE WITH THE STATUTORY LEGISLATIONS – Since the related party transactions have a direct bearing on the profitability of the organization, correct pricing of such transactions becomes necessary.
ASSOCIATED ENTERPRISE
As per section 92A, an associated enterprise is one –
1. Which participates in the management or control or capital of the other enterprise, either directly or indirectly, or through one or more intermediaries.
2. In which one or more persons who participate in the management or control or capital, either directly or indirectly, or through one or more intermediaries, are the same persons participating in the management or control or capital of the other enterprise, either directly or indirectly, or through one or more intermediaries.
DEEMED ASSOCIATED ENTERPRISE
Two or more enterprises are termed as associated if –
1. One of them holds at least 26% of the total voting power of the other enterprise, either directly or indirectly.
2. Any person or member holds at least 26% of the total voting power in each of the said enterprises.
3. Loan advanced by one enterprise constitutes at least 51% of the book value of the total assets of the other enterprise.
4. Guarantee extended by one enterprise is at least 10% of the total borrowing of the other enterprise.
5. More than 50% of the board of directors or one or more executive directors of one enterprise are appointed by the other enterprise.
6. More than 50% of the board of directors or one or more executive directors, in both the enterprise, are appointed by the same person or member.
7. Manufacturing or processing of the product/service of one enterprise wholly depends upon the use of intellectual property rights of another enterprise.

8. At least 90% of the raw material used in the production process by one enterprise, is supplied by the other enterprise.
9. The goods manufactured or processed by one enterprise, are sold to the other enterprise.
10. One enterprise is controlled by a HUF and the other enterprise is controlled by one or more members of the said HUF.
11. The enterprise is a firm, AOP, BOI, and the other enterprise hold at least 10% of interest in such enterprise.