Our Tax Solutions
Our tax planning and services can help you identify your responsibilities and maximize your benefits.
Tax Overview
Direct Tax
Direct taxes include: Personal property tax, real property tax, taxes on assets or income tax.
While indirect taxes allow for taxes levied on one individual or organization to be shifted onto another entity, direct taxes can’t be shifted and must be paid directly by the individual or organization they’ve been levied on.
Income Tax :
Here are just some of the cases in which income tax filing is legally required:
You’re legally required to file an income tax return if your gross total income for the financial year exceeds the prescribed threshold.
This also applies to NRIs whose income is earned or accrued in India.
Companies or firms are required to file an income tax return, regardless of income or loss accrued during the financial year.
You’re required to file an income tax return if you seek to claim an income tax refund.
Contact us for more information and assistance in determining if you’re required to file an income tax return under these and other circumstances.
Our Income Tax Services :
We provide tax planning consultations, assisting our clients in optimizing their tax strategies, under the Indian
Income Tax Act.
We apply our understanding of both Indian and international taxation principles in helping our multi-national corporation clients to achieve maximum income tax-efficiency.
We offer income tax return preparation and filing services.
Contact us to learn how we can assist you in all income tax-related matters.
Indirect Tax
Indirect taxes are applied to the cost of a product or commodity and consumers pay the tax simply by purchasing the product or commodity.
Unlike direct taxes, indirect taxes can be levied on one entity and shifted onto another.
Service Tax : Service taxes are levied on specified services provided throughout India, with the current exception of the state of Jammu and Kashmir.
Excise : Central excise duty is legally required on all goods and commodities manufactured in India, with some exemptions.
Value Added Tax : VAT is a multi-stage, consumption tax levied on the sale of all taxable goods by a taxable person, in the course/furtherance of business and is ultimately borne by the consumer.
Are You Required to Register for VAT?
Manufacturers and traders are required to register for VAT if their annual sales exceed Rs.5 lakhs (Rs. 10 lakhs in some states).
Penalties
There a range of penalties in place for non-compliance/late VAT registration. We work with you to ensure that you avoid all such risks through full compliance.
Exempt Goods :
Exemptions may vary from state to state.
Goods exported out of India are zero-rated, meaning that while no VAT is charged on exports, the purchaser may receive refunds (ITCs) on the VAT charged on inputs bought & used in the making of export goods.
While exporters of goods are not required to pay VAT, it may still be advisable for exporters to obtain VAT registration.
VAT Rates : Rates can vary from state to state and differ widely, depending on the type of goods sold.
Our Service Tax, Excise and VAT-Related Services :
We offer advisory consultations on VAT, service tax and excise applicability.
We explain and facilitate the registration process.
We provide VAT, service tax and excise returns filing
Assessments :
Assessments are orders from the government to review your financial records to determine if you payment of taxes was calculated correctly. These proceedings can be a source of anxiety and confusion. We are well-versed in the rules and procedures of tax assessments and can guide you through the process to make sure you are taking all the right steps to assure the most successful results.