Direct tax plays a vital role in the entire operations of the organization as well as individual. Regular changes in day to day legislations result in increased tax compliance for the assessee. Our team consists of well versified staff which offers full range of services in field of direct taxation which help business entities to be compliant. Our major direct tax services includes the following:
Regular Compliance : Carrying out various compliance related services which includes filing of corporate and non-corporate tax returns
Self Assessment: Under Income Tax Act, 1961, every assessee is required to a self-assess his income after considering the taxes already paid him through TDS, advance tax and pay the balance tax due on their income.
Withholding Taxes: A business entity who is required to make specified payments such as salary, interest, rent, professional fees, commission, brokerage etc. is required to withhold tax at source (TDS) while making such payments and comply with relevant laws relating to deposition of taxes, filing of returns, issuance of tax credit certificates. Any failure to comply with the above requirements would attract late fee, penalty and prosecution under the Act
Advance Tax: Any assessee who total tax liability for a financial year exceeds INR 10,000 is required to make advance payment of tax as specified under the Act. Non-deposition of advance tax would attract interest under section 234A/B/C
Tax Collected at Source: Seller whose turnover in previous year exceeds INR 10 Crores is required to collect TCS from buyer and deposit such TCS with government authorities. In addition, TCS return needs to be filed on quarterly basis.
Certification Work: Issuance of certificate under section 195 in form 15CA/CB for making overseas remittances as required from time to time