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Direct Tax

Audit & Assurance
International Taxation
Structured Finance
Other Services

Direct Tax

We are a leading name in the field of offering Direct Tax Consultancy Services. This taxation is levied by Central, State and Local Government Bodies. The direct tax services are based on a series of tax reforms that were introduced since early 1990s where the focus of reforms is on rationalization of tax rates as well as in simplification of procedures. These taxes are levied by central, state and local government bodies and comprise principal taxes including –

Central
  • Corporate tax
  • Custom duties
  • Central excise duty
  • Services tax
States
  •  State Excise Duties
  • Sales Tax
  • Stamp Duties 
Local Government Bodies – 
Octroi duties
  •       Other taxes that are local in nature like water tax and property taxes 
These are levied by Central government, by states in form of direct taxes like sales tax, state excise duties and stamp duties and Local government bodies in form of Octroi duties and other taxes that are local in nature like water tax and property taxes. We also offer customers direct tax consultancy support that is based on evolving taxation strategy that optimizes tax incidence through application of –

·        Tax incentives
·        Tax holidays and benefits
·        Double tax treaty networks
·        Use of intermediate companies
·        Transfer pricing and other options
·        Comprehensive worldwide tax planning
·        Inbound and outbound investments
·        Structuring of managerial remuneration
Other than this, the services also include Direct Tax compliance and litigation support, International Tax Advisory, Transfer Pricing Advisory and Foreign Institutional Investor Services.

Income Tax Services
We also offer income tax services that comprise taxation on income earned in a financial year a part of which is taxable as per rates prescribed for that year. With the financial year running from 1 April to 31 March of following year, broadly taxpayers are classified as residents or non-residents where the individual taxpayers can be classified as 'residents but not ordinary residents'. Our team of tax consultants and financial advisors also allows us to offer Income tax consultancy services that are aimed at offering business solutions to Manufacturers, Traders, Dealers as well as Service providers of industry.

Residential Status An individual is considered resident in India if he is in India in tax year for:
182 days or more; 60 days or more where the period of 60 days stands changed to 182 days or more for –

·        Indian citizens/persons of Indian origins on visit to India

·        For citizens of India leaving India for employment abroad as members of crew of Indian ship during tax year

A resident is "not ordinarily resident" in India in any tax year if he:

·        Has been "non-resident" in India in nine out of 10 previous years preceding that year
·        Has during previous seven years, preceding that year been in India for total period of 729 days/less

Taxability Based on Status:

Residential Status
Indian Sourced Income
Foreign Sourced Income
Resident
Taxable in India
Taxable in India
Resident but not ordinarily resident
Taxable in India
Not taxable in India
Non-resident
Taxable in India
Not taxable in India


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