Tax and Regulatory

CORPORATE REGULATORY COMPLIANCE

Today’s regulatory landscape has become increasingly complex, as state and local governments expand compliance requirements, increase fees and increase enforcement efforts. Even the most dedicated and conscientious business can find it overwhelming to keep up with the constant onslaught of new and changing requirements.

Our professionals with their wide-ranging experience and in-depth knowledge help in navigating these challenges. In this respect, below are the key services offered by us to our clients:-

• Assistance in filing corporate tax returns and analysing the impact of Income-tax Computation and Disclosure Standards.
• Assistance in advance tax computations for various quarters.
• Assistance in filing withholding tax returns for both Indian and foreign entities.
• Assistance in representation for pending tax refunds and follow-up with the Indian tax authorities.
• Assistance in other compliances such as tax registration, obtaining lower withholding tax certificate, etc.

TAX PROCEEDINGS

Given the regulatory labyrinth that taxpayers often face, a judicious cost-benefit analysis is imperative in deciding which issues are worthwhile to contest and which issues are more viable to concede. Tax representation and litigation in India requires a comprehensive approach involving people with adequate understanding of tax laws and insightful handling of contentious issues. Our services in this area include:

• Assistance in strategising tax proceedings.
• Explore alternative tax dispute resolution avenues.
• Assistance in the preparation and filing of appeals/objections including assistance in preparation and filing of submissions of any additional evidence/ground.
• Assistance in representations before the CIT(A), Dispute Resolution Panel (DRP) and Income Tax Appellate Tribunal (ITAT).
• Assistance in preparation of advance ruling application and provide support for representation before the Authority for Advance Rulings (AAR) for settling a tax position.
• Briefing the company’s counsel on the factual position of the company’s matter for the purpose of such counsel’s appearance in appellate proceedings, before the CIT(A), ITAT, AAR, High Court and Supreme Court.

INTERNATIONAL TAX

Any cross-border transaction between two related parties is subject to transfer pricing provisions in India. Over the years, the Transfer pricing regulations are becoming increasingly complex. The last several years witnessed substantial litigation on Transfer Pricing related issues Our objective is to help businesses achieve global tax efficiency by minimising tax incidence and reducing tax and compliance costs in multiple jurisdictions:

• Transfer Pricing Planning for new related party transactions proposed
• Transfer Pricing benchmarking and documentation for all international transactions between related parties
• Inbound investment advisory
• Litigation support on transfer pricing matters
• Inbound due diligence
• Advise on International tax treaties entered into by India and related tax planning
• Advise on BEPS rules and the multi-lateral instrument entered in to by India
• Advise on investment treaties signed by India
• Assistance with Advance Pricing Agreements with CBDT
• Assistance with preparation and filing for applications before the Authority for Advance Ruling

PERSONAL TAX

The personal taxation of Indian and foreign nationals involves several complex issues such as determination of eligible exemptions, deductions and other related compliances, interest and penalties exposure due to any procedural delays in deposit or filings. Hence, an individual requires professional “Personal Tax Advisory Services” to perform relevant tax and regulatory compliances.

An employer is required to do various tax compliances in relation to the taxation of the Indian national employees in the nature of Tax Deduction at Source (TDS) compliances. We offer a wide range of Personal Tax Services to our clients. Our Personal Tax Services related to the Indian nationals are as follows

Regulatory Approvals

• Obtaining Permanent Account Number (PAN)
• Assistance in drafting of Employment Agreement from tax and regulatory prospective
• Analyze salary components of the Indian National Employees from tax and social security laws perspective

Statutory Compliances

• Personal income tax consulting to compute taxable income and income tax to be withheld and/or deposited to government treasury
• Tax consultant services to prepare and file personal income tax return
• Assistance in furnishing Form 30C at the time of leaving India for good

Personal Tax Advisory Services

• Advisory on determination of the Residential Status of Indian National Employees
• Tax consultant services on taxability of various sources of income in India
• Advisory on availability of exemptions, deductions and tax credit mechanism
• Advisory to High Net worth Individual’s (HNIs) on tax and regulatory aspects

Payroll Services

• Supporting in payroll processing of the Employees
• Collation and Review of declarations and documents of the Employees

Representation Services

• Handling income tax scrutiny assessment proceedings of individuals and representing before with Income Tax Authorities
• Handling income tax appeal proceedings of individuals and representing before Tax Appellate Authorities

INDIRECT TAXES

Indirect taxes contribute extensively to the government revenue and in recent years indirect tax collection has exceeded the direct tax incomes. With the integration of various indirect taxes in to GST, the collection is expected to go up further. India being a federal country, we have adopted dual GST with a four rate structure to meet the interests of various states. Given that the government is extremely proactive in addressing the transition challenges faced by trade and industry, a number of exemptions and concessions find place in the evolving GST system.

Businesses are expected to be aware of the GST implications that affect their dynamic business models and also comply with statutory compliance requirements. Varying treatments of supply of goods and services, and interpretations of customs and GST provisions pose a challenge for trade and industry to be on the right side of the law and at the same time explore the possibilities of optimising its tax impact on their business model.

Our Indirect tax professionals with their wide-ranging experience and in-depth knowledge on the subject, can help clients in all the above aspects. We provide advisory and compliance related services with reference to all indirect tax laws including GST, Customs Duty and Foreign Trade Policy and also on the pending tax and litigation matters related to the erstwhile regime.

The Indirect Tax Services That We Offer, Also Include The Following:

Compliance Services

• Assistance in obtaining registrations under GST or other statutory regulations as required
• Verification of input tax credit records and identification of ineligible credits
• Review of periodic computation of tax liabilities
• Assistance in preparing and filing periodic return(s)
• File requisite statutory applications with various authorities
• Retainership

Litigation

• Assistance in drafting responses to notices, enquiries and such other communication received from revenue/assessing authorities
• Assistance in preparation and filing of appeals against orders received from appellate authorities
• Representation before the appropriate authorities and engaging external legal counsel, if required
• Filing advance ruling applications with the authorities in order to seek clarification on ambiguous matters
• GST Advisory and Representation
• Indirect tax health check

Other Indirect Tax Services

• Conduct due diligence reviews from indirect tax perspective
• Provide technical assistance and representation services during departmental audits
• Assistance in preparation and filing of representations before Advance Ruling authorities and other tax or government authorities
• Conduct management/personnel training for clear understanding of relevant GST provisions