Income Tax
Income Computation
Income computation involves calculating the total taxable income of an individual or business after considering all sources of income, deductions, and exemptions. It forms the basis for accurate tax filing and helps determine the correct tax liability as per applicable laws.
TDS Return Filing
Tax Deducted at Source, often known as a Direct Tax, is how the Indian government collects taxes. at the time of a business deal. When funds are credited to the payee’s account or when payment is made, TDS must be subtracted.
Tax Return Filings Corporate
Income Tax Return (ITR) is a form used by individuals and businesses to report income and taxes paid to the Indian government. Filing it before the due date, typically September 30th, ensures compliance and avoids penalties.
Income TAX Return Filings for Individuals
The Income Tax Return (ITR) is filed by individuals and businesses to report income and tax payments to the Indian tax department. It must be submitted before the due date, generally September 30th each year, to ensure compliance.
Tax Planning
Tax planning ensures all financial elements align to help you minimize tax liability effectively. It’s a vital part of every individual’s overall financial strategy.
Capital Gains
Capital gains are the profits earned from the sale of assets like property, stocks, or mutual funds.
They are classified as short-term or long-term based on the holding period and are taxable under the Income Tax Act.
Income Tax Scrutines, Appeals and Other Matters
Income Tax Scrutiny refers to the detailed verification of returns by the tax department to ensure accuracy and compliance. Appeals and other matters provide taxpayers the right to challenge tax orders and seek resolution through proper legal channels.
International Taxation
DTAA
The Double Taxation Avoidance Agreement (DTAA) helps prevent taxpayers from being taxed twice on the same income earned in different countries. It applies when an individual resides in one country and earns income in another, ensuring fair tax treatment and promoting cross-border trade.
Equalisation Levy
Equalisation Levy is a tax introduced by the Indian government on digital transactions to target non-resident e-commerce companies. It ensures fair taxation of digital economy players earning revenue from Indian users without having a physical presence in India.
Transfer Pricing
Transfer Pricing refers to the rules and methods for pricing transactions between related entities within or across borders. It ensures that transactions between associated enterprises are conducted at arm’s length to prevent tax evasion.
Residential Status
Residential status determines how a person is taxed under the Income Tax Act, 1961. Even Indian citizens may be treated as non-residents, while foreign nationals can qualify as residents based on their stay duration in India.
Expatriate Taxation
Expatriate taxation refers to the tax rules applicable to individuals earning income while living or working abroad. It ensures compliance with both home and host country tax laws, often involving relief through tax treaties or foreign income exemptions.
GST
GST Registration
Any service company that makes more than 20 lacs in a fiscal year. Additionally, every products company that makes more than 40 lacs in a fiscal year needs to register for GST and have a valid GST number.
Monthly & Annual Return Filing
Those who are registered under the Goods and Services Tax registration (GST Registration) are required to file GST returns. A business will have different GST filings. This varies according on the kind of taxpayer, including ordinary taxpayers, composition dealers, online retailers, etc.
GST Advisory
GST advisory services help businesses comply with Goods and Services Tax regulations efficiently. They offer expert guidance on GST registration, returns, invoicing, input tax credit, and minimizing tax liabilities.
Cancellation & Revocations
Cancellation and revocation services assist businesses in legally terminating or restoring GST registrations. They ensure compliance with regulatory procedures, helping avoid penalties and maintain proper business records.
Appeals/Tribunals
Appeals and tribunals provide a legal route for taxpayers to challenge tax authority decisions. They ensure fair resolution of disputes through structured hearings and expert judgment.