a. Tax Management / Compliance
Tax management/compliance is at the core of today’s business obligations that include filings and payment of taxes.
Filing of Income Tax Returns
Filing of TDS /TCS returns
Complainces related to advance Tax
b. Tax Representation and litigation
Scrutiny Assessment U/S 143(3)
Scrutiny assessment refers to the examination of a return of income by giving an opportunity to the assessee to substantiate the income declared and the expenses, deductions, losses, exemptions, etc. claimed in the return with the help of evidence.
In the cases selected for scrutiny, the assessing officer conducts necessary enquiries during assessment proceedings to ensure that the assessee has not:
- Understated the income, or
- Computed excessive loss, or
- Underpaid tax in any manner.
Rectification U/s Section 154
Rectification of mistake apparent in intimation, assessment, revision and appellate orders.
Appeals U/s 246A [i.e. CIT(A)] and 253 [i.e. ITAT]
An appeal is applying to a higher authority for a reversal of the decision of an assessing officer/lower authority.
Revision U/s 263 & 264
Revision U/s 263 is the reversal of erroneous and prejudicial order of subordinates by CIT/Pr. CIT. Revision U/s 264 is an alternative option available to the assessee. Instead of going to appeal, he can approach CIT/ Pr. CIT.
- Representation before the tax department with respect to assessments, investigation, survey, search and other civil cases
- Representation before CIT(A) and ITAT
- Representation before the Authority for Advance Ruling with respect to residents
- Filing of replies to summons and other notices
c. Tax Due Diligence
Due diligence with regard to tax includes a review of all taxes, the company is required to pay and ensuring their proper calculation with no intention of under-reporting of taxes. Additionally, verify the status of any tax-related case pending with the tax authorities.
- Documentation of tax compliance and potential issues typically includes verification and review of the following:
- Copies of all tax returns – including income tax and withholding taxes
- Information relating to any past or present pending tax assessments against the company
d. Tax advisory and opinions
In today’s business world, every transaction/arrangement is subject to income tax. So, to avoid surprise tax burden, tax advice needs to be sought before entering into any sort of transaction/arrangement.
- Transaction/Arrangement structuring to avoid/lessen tax burden within the purview of tax laws
- Providing opinions on domestic taxation Issues i.e. interpreting of provisions, etc.
- Providing opinions with respect to DTAA and Domestic Law