What Is Direct Tax?
Direct tax is a type of tax where the incidence and impact of taxation fall on the same entity. Direct tax is charged on income, salary or profits of an individual or corporates. These are largely taxes on income or wealth. Income-tax, corporation tax, property tax, inheritance tax, and gift tax are examples of direct tax.
At Incorp, we help solve these tax challenges more like a solution-oriented approach than mere compliance! We provide pragmatic solutions for HNI families, Indian Business entities, Multi-national Corporates, Resident and Non-Resident Indians, Foreign Expatriates. In this endeavor, we are immensely helped by our extensive knowledge of Taxation practices, a team of experts having a sound knowledge base and practical approach to address sensitive matters along with our regular interaction with the tax authorities. One added advantage is that our team has a blend of appropriate knowledge of Commercial and Corporate Laws, Indirect Tax Laws, Labour Laws, which enable us to give well rounded and feasible solution in the sphere of Direct Tax. 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 economical shifts. Businesses always face a tax regime with greater complexities and challenges. Now, 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 following Tax Planning and structuring in India:
- The 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 focussed on managing/resolving direct tax disputes.
We provide the following Tax litigation services:
- Providing corporate tax litigation assistance upto Appellate level
- 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
- Business support services- Transfer Pricing Study and Documentation
- Liasoning with Income Tax authorities for refunds, rectification, revision of orders, etc.