Direct Tax

Tax Strategy & Advisory Services

With increasing complexity in the tax laws around the world, it has become essential for businesses as well as individuals to not only ensure that their tax policies and positions are in compliance with law, but also to make sure that they stand up to public scrutiny.

We offer a full suite of services to multinationals, domestic corporations and individuals in designing, implementing and defending their overall direct tax strategy.

Our experience with a broad spectrum of clients, engaged in different businesses, gives us a wider understanding of individual business needs which is very essential for effective tax planning.

Our Services includes:

• • Identification of tax exposures and planning
• • Inbound investment advisory and entity set-up
• • Direct tax advisory
• • Statutory compliance support
• • Tax diagnostic reviews & health checks

Tax Management & Compliance

Prevention is better than cure. We understand the law and focus on preparatory compliance through extensive documentation. Compliance is no longer limited to an annual exercise aimed at filing of a tax return, but has evolved into a full-time function focused on helping the business effectively manage the growing need for providing information and documentation required under tax laws.

Keeping pace with new compliances and meeting them becomes a daunting task for most businesses. In a highly competitive landscape, aligning your tax strategy to your business strategy is a critical part of optimising profit margins.

At Taxpert, we understand that effective tax planning for enterprises requires both technical resources and in-depth knowledge of each client’s unique financial situation. Our network of experienced tax professionals can assist in resolving various tax challenges to your business and keeping abreast with tax regulations.

Taxpert can help with all aspects of the compliance function, ranging from a full-outsourced model to reviewing/vetting of internal compliance functions. We can help inter alia in:

Withholding Tax Advisory & Compliance Support

TDS or Tax Deduction at Source, as the name implies, aims at collection of income tax at the very source of income. TDS or Tax Deducted at Source is income tax reduced from the money paid at the time of making specified payments such as rent, commission, professional fees, salary, interest etc. by the persons making such payments.

Failure to comply with the prescribed withholding requirements could result in the levy of penal interest, penalty and prosecution under the Act, in addition to the liability to make up for the taxes not withheld/deposited.

We offered the following services to effectively manage your Withholding Tax Compliance:

• Regular Review and assistance in maintenance of Tax Deducted at Source records
• Verification of all payments to vendors for the purposes of determination of correct application 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 before the statutory due dates.
• Filing of quarterly E-TDS Returns.

Tax Filing – Individual | Corporates

Income-tax is a tax levied and collected by the Central Government on income of a person. Income-tax is calculated at specified rates on total income of a person and paid directly to the Central Government. The provisions relating to the income-tax are governed by the Income-tax Act, 1961. Income–tax return (ITR) is a statement of income and tax thereon, which is to be furnished by a taxpayer to the Income-tax Department in prescribed form.

We provide following services to help you in Tax complaint:

• Advising on Income Tax Planning of Individuals & Corporates.
• Advice on tax planning opportunities to optimize tax incidence
• Assistance in tax compliance
• Advising all financial subjects which are of your interest and keeping updated on the new amendments, circulars, notifications & judgments.
• Preparing and filing the Return on the Income Tax Portal
• Assisting in preparing the Online replies/clarification to any queries raised in Return
• Online Tax Advisory and planning for position to be adopted in the tax returns
• Assist in obtaining the Income Tax Refund

Tax Solution for Expatriate, HNI’s & NRI in:

India is a high tax paying country, particularly for high net worth individuals (HNIs), Expatriate & Non-Resident India (NRI). Furthermore, there taxation has certain challenges emanating from their Residential Status, investment activities, especially in case of investment in real estate, shares, mutual funds, bullion, works of art, etc. However, at times, they inadvertently overlook the tax impact of their activities and tax compliances to be undertaken by them in India and a single slip-up in tax compliance can lead to the them being engaged in prolonged litigation with the Indian tax authorities.

Additionally, they typically face the following challenges:

• • 1. Maintaining accounts and supporting documents in India.
    2. Liaising with banks, brokers, mutual funds, portfolio managers, etc. for obtaining transaction statements
    3. Accurately computing and paying income tax in India after obtaining a comprehensive understanding of the complex web of income tax provisions.
    4. Keeping abreast with the changing income tax law in India.
    5. Communicating with Indian tax authorities.
    6. Inadequate time and resources to regularly follow up on pending tax refunds.

We, at Taxpert Professional, recognizes the needs of this community as we are aware of the typical issues faced by them from a tax and regulatory perspective in India. We provide a comprehensive, personalized solution in a holistic and transparent manner, which includes:

• • Appoint a Single Point of Contact (SPOC) for customized solutions while maintaining confidentiality.
• • Assist in liaising with banks, brokers, mutual funds, portfolio managers, etc. for obtaining transaction statements.
• • Meticulous accounting for all transactions in India in light of the applicable accounting standards.
• • Audit the books of accounts, if required.
• • Tax advisory, including taxation of capital gains, tax exemption claims, gift planning, tax deductible investments and tax credit advisory in the home country.
• • Practical advice on capital gains considering the practical/business side of transactions and multitude of Court rulings.
• • Compute accurate advance tax liability and ensure timely payment.
• • Obtain a lower/nil deduction certificate or a certificate from the Income Tax Authority for the creation of charge on assets.
• • Prepare a thorough computation of income considering the provisions of tax laws and applicable judicial precedents in addition to filing appropriate income tax returns.
• • Verification of intimations received from the Income Tax Authority, filing rectification requests (if required) and assistance in obtaining refunds from the tax authorities.
• • Assist in Income Repatriation
• • Provide certification (Form 15CA | 15CB), as and when required.

Tax Litigation Services

Facing a serious dispute, investigation or litigation can be one of the most challenging times for any organization. These are times when it’s critical to have credible advisers you can trust.

Taxpert India helps organizations address a wide range of lawsuits, investigations, and regulatory issues at all levels during the appeal process. We assist individuals and organizations to respond to challenges by legal authorities, by leveraging our financial skills, business expertise and knowledge of the legal process when conducting each assignment.

Drawing on experience from diverse disciplines and backgrounds, our professionals combine the highest standards of technical skill and knowledge to gather, analyze and evaluate evidence.

• • Advisory on litigation strategy
• • Provide appropriate support on implementation of litigation strategies
• • Preparation/drafting of appropriate technical submissions/appeals/ letters
• • Advisory on the course of action pursuant to completion of income-tax (including transfer pricing) assessment/appellate proceedings
• • Representation services before:

– Tax authorities (including assessing officer, commissioner (Appeals) and dispute resolution panel)

– Appellate Tribunals

– Authority for Advance Ruling

– Settlement Commission

Other compliance services:

– Obtaining the Tax Residency Certificate,

– Getting the NIL/lower Withholding Tax certificates,

– Exemption certificates for Trust, Charitable Institution etc.