Direct Taxation

Direct Tax Consultancy

Direct tax consultancy together with innovative tax green strategies, provided by way of us shape an indispensable part of viable commercial enterprise decisions. These help our clients achieve the favored goals. We adopt a “result oriented approach” that is bendy and emphasizes delivery and fee. It complements the effect of commercially feasible choices and minimizes the tax burden.

Assessment (audit by way of tax authorities) and appeals

The assessment and appeals technique beneath the Act includes the following:

Self-assessment

Every assessee, earlier than filing a tax go back, is needed to make a self-assessment of income and after deliberating the quantity of tax already paid by way of TDS and improve tax, pays the balance tax (self-evaluation tax) due at the earnings. Further, together with the tax, any interest bobbing up because of put off in furnishing of tax return or any default /deferment in payment of boost tax, is likewise required to be paid.

Assessment with the aid of Tax authorities

Assessment in income tax law is likewise accomplished with the aid of tax authorities. Tax authority ship be aware to assessee underneath diverse section of earnings tax act. We offer entire technique to manipulate those sort of evaluation in fine possible manner.

WITHHOLDING TAX

Withholding taxes on payments other than salaries

Under the Act, a person making positive targeted bills including earnings, contractual payments, lease, interest, professional or technical charges, commission, bills to non-citizens, etc. Is required to withhold tax at supply from such payments and observe the related necessities in appreciate of deposit of taxes within the Government treasury in the prescribed manner, problem of tax credit score cerficates and submitting withholding tax returns. The reason of withholding tax is to provide a mechanism for tax government to collect tax at the supply of profits, and also to extend the tax base

Failure to conform with the prescribed withholding necessities should bring about the levy of penal interest, penalty and prosecution beneath the Act, in addition to the liability to make up for the taxes no longer withheld/deposited.

The following chart depicts the withholding tax provisions prescribed beneath the act

Some of the direct tax offerings furnished by way of us encompass

INCOME TAX & WITHHOLDING TAXES

• Advising on Income Tax Planning of Corporates.
• Advising & reviewing of all essential tax withholding duties.
• Advising all monetary topics which are of your hobby and preserving you updated on the brand new amendments, circulars, notifications & judgments.
• Verification of all payments to companies for the functions of dedication of correct software 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 earlier than the statutory due dates.
• Filing of quarterly E-TDS Returns.
• Filing annual Income Tax return.