Direct Taxation

It is generally believed that Indian Income Tax Law offers a hostile reception, replete as it is with amendments that require corporates to take a fresh guard in this area time and again. Further, with the introduction of concepts such as Indirect transfers, GAAR, and others, tax challenge is likely to escalate. Further, one of the biggest challenges in front of companies today is effective management of foreign taxes in a way that it aligns with business objectives. Our direct tax team is well equipped to assist companies in addressing all these complex issues.

Our services include:

Corporate Tax-Compliance and Advisory

  • Direct Tax Advisory and Planning – Income and Wealth Taxes;
  • Statutory Compliances like preparation and filing of income tax return and withholding tax returns;
  • Computation of Advance Tax;
  • Withholding tax health checks;
  • Representations during the revenue audit for corporate and withholding tax matters

International Tax

  • Cross-border tax challenges with respect to investment and transaction structuring;
  • Inbound and Outbound Investment advisory including entity set up Holding company structures;
  • Financing structures;
  • Use of treaty networks;
  • Financial instruments and planning strategies to achieve and implement sound global tax policies;
  • Assistance on use of alternate dispute resolution mechanism for treaty related controversies;
  • Expatriate taxation advisory;
  • Foreign Remittance Certificates (Form 15 CA & 15 CB)

Transfer Pricing

  • Transfer pricing documentation;
  • Issuance of Accountant’s Report;
  • Planning & documentation for Specified Domestic Transactions (SDTs);
  • Litigation support & representation services before Dispute Resolution Panel;
  • Due Diligence Review;
  • Advance Pricing Agreements

Representations

  • Representation services before:
    • Tax authorities (including Dispute Resolution Panel);
    • Appellate Tribunals;
    • Authority for Advance Rulings;
    • Settlement Commissioner;
  • Tax briefings and support to the external counsel in respect of representations before High Courts/Supreme Court;
  • Advisory & implementation of litigation strategy;
  • Diagnostic review of litigation history and assistance in litigation risk analysis;
  • Assistance in evaluating sustainability of tax positions and assistance in suggesting and taking remedial actions

Due Diligence and Health check

  • Examine applicability of various provisions of direct taxes to the given situation;
  • Examine eligibility of tax exemptions and deductions;
  • Review statutory returns/ records and documentation;
  • Evaluate tax optimization opportunities;
  • Identify tax exposures and inefficiencies;
  • Due Diligence Support services include;
    • Reporting key exposures under the various provisions;
    • Review pending litigation issues & report exposure/ disputes;
    • Review compliance status;
    • Report on material tax exposure due to non-compliance relating to indirect tax laws

Indirect Taxation

Despite the various reforms carried out in the past few years, the prevailing indirect tax regime in India is still in the state of evolution. It comprises a plethora of laws, rules, and regulations at the central and the state level which needs to be adopted by business instantaneously. At its present structure, it poses unique challenges to business organizations and often has significant impacts on cash flow, absolute costs and risk exposures.
Poor indirect tax management can squeeze cash flow, allow the over or underpayment of tax and attract stiff penalties for non-compliance.

Our Team provides comprehensive advice and assistance on service tax, customs, Excise laws, VAT, and GST.

Our services include:

Statutory Compliances

  • Preparing worksheets for tax computation;
  • Collate data for preparation of applicable tax returns;
  • Set up a system or process to ensure data collation;
  • Ensure regular and timely compliance of tax payments and return filing;
  • Ensure compliance of similar tax requirements

Planning and Advisory

  • Indirect tax analysis on proposed transactions;
  • Tax neutralization / optimization advice;
  • Identify mechanism to optimize tax credits and reduce tax
  • Agreement review/drafting;
  • Advice on setting up a business in tax efficient manner

Representations

  • Representation services before:
    • Tax authorities ;
    • Appellate Tribunals;
    • Authority for Advance Rulings;
    • Settlement Commissioner
  • Tax briefings and support to the external counsel in respect of representations before High Courts/Supreme Court;
  • Advisory & implementation of litigation strategy;
  • Diagnostic review of litigation history and assistance in litigation risk analysis;
  • Assistance in evaluating sustainability of tax positions and assistance in suggesting and taking remedial actions

Due Diligence and Health Check

  • Examine applicability of indirect taxes;
  • Examine eligibility of tax credits and export benefits (as applicable);
  • Review statutory returns/ records and documentation;
  • Evaluate tax optimization opportunities;
  • Identify tax exposures and inefficiencies;
  • Due diligence support services include:
    • Reporting key exposures on account of various indirect taxes;
    • Review pending litigation issues & report exposure/ disputes;
    • Review compliance status;
    • Report on material tax exposure due to non-compliance relating to indirect tax laws