Direct Tax Services - InCorp Advisory

Other Services

Overview

We provide pragmatic tax solutions for HNI families, Indian business entities, multi-national corporates, resident and non-resident Indians, foreign expatriates through a combination of extensive knowledge of taxation practices, a team of experts having a sound knowledge base, and a practical approach to address sensitive matters along with regular interaction with the tax authorities. An added advantage is the blend of appropriate knowledge of commercial and corporate laws, indirect tax laws, labor laws, which enable us to give well-rounded and feasible solutions in the sphere of direct tax.

Service Areas Within Direct Tax Services

Our services range from basic assurance services such as filing of tax returns to advisory services such as:

Tax Planning And Structuring

Indian direct tax legislative and judicial world is constantly evolving alongside globalization and economic shifts. Businesses always face a tax regime with greater complexities and challenges. Every business must have an ongoing system for adapting to and staying on top of these complex changes. With recent changes in the tax rates applicable to various entities, there is a unique opportunity to do business in India at the lowest possible tax rates.

We provide the following tax planning and structuring in India:

Opinion of an appropriate form of entity to set up business activities in India after mapping the resources and challenges with the client’s level.
Entry-level strategies, business study w.r.t. tax implication, impact assessment of residential status of promoters on proposed business, tax benefits, and concessions, compliance calendar based on needs of the business.
Assist to resolve uncertain tax positions by drafting and representing before tax authorities for advance ruling.
Evaluation of optimum use of tax incentives in proposed business activities after understanding the client’s proposed business models.

Tax Litigation Services

Direct Tax Representation in India requires a comprehensive approach involving people with a sound understanding of law and rules thereon and tactful handling at the appellate level. We have a dedicated team of specialists to offer effective, practical solutions to clients focused on managing/resolving direct tax disputes.

We provide the following tax litigation services:

Providing corporate tax litigation assistance.
Assistance in obtaining advance rulings for transactions involving tax uncertainties.
Obtaining opinion from senior counsels by framing queries in line with business transactions.
Tax diagnostic reviews

Tax Compliance Service

Businesses need dedicated compliance services that work in the areas of compliance indirect tax laws, industry sectoral regulations and exchange control regulations.

We provide the following tax compliance services:

Representation before the income tax and withholding tax authorities – Obtaining lower TDS certificates, tax clearance certificates by proper representation before authorities.
Advising on withholding tax obligations on payments.
Assisting in filing various tax returns, declarations for foreign participation in Indian entities, assessment of foreign assets and foreign income and making adequate disclosures.
Liaising with Income Tax authorities for refunds, rectification, revision of orders, etc.

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Frequently Asked Questions

What is period for which a person's income is considered for purpose of income tax?

Income-tax is levied on the annual income of a person for the said financial year starting from 1^st April and ending on 31^st March of next calendar year. The year in which income is earned is called as previous year and the year in which the income is charged to tax is called as assessment year.

Is my responsibility under the Income Tax Act over once taxes are paid?

No, you are thereafter responsible for ensuring that the tax credits are available in your tax credit statement and TDS/TCS certificates received by you and that full particulars of income and tax payment are submitted to the Income-tax Department in the form of Return of Income which is to be filed before the due date prescribed in this regard.

What is Tax litigation?

Tax Litigation means any claim, legal action, proceeding, suit, litigation, prosecution, investigation, arbitration or other dispute resolution process, or administrative or criminal proceedings, or regulatory agency action relating to Tax.

What is Form 26AS?

Income-tax Department maintains the database of the total tax paid by the taxpayer (i.e., tax credit in the account of a taxpayer). Form 26AS will reflect the details of tax credit, demand, refund, proceeding (completed/pending), specified financial transaction appearing in the Permanent Account Number (PAN) of the taxpayer.