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Direct tax consultancy along with the effective tax management stratergies, provided by us together form an integral a part of effective business decisions. These facilitate our clients to attain the specified goals. We tend to adopt a “result oriented approach” that is versatile and emphasizes delivery and worth. It enhances the impact of commercially viable selections and minimizes the tax burden.
The assessment and appeals procedure beneath the Act involves the following:
Every assessee, before submitting a income tax return, is needed to create a self-assessment of their incomes and while taking into consideration the number of tax already paid by manner of TDS and advance tax, pays the balance tax (self-assessment tax) due on the financial gain. Further, in conjunction with the tax, any interest arising on account of delay in furnishing of income tax return or any default /deferment in payment of advance tax, is additionally needed to be paid. The procedure for self-assessment and determination of liabilities has been represented below by manner of a flow sheet.
Under the Act, someone ensuring such as payments like wage, written agreement payments, rent, interest, skilled or technical fees, commission, payments to non-residents, etc. is needed to withhold tax at supply from such payments and accommodates the associated needs in respect of deposit of taxes within the Government treasury within the prescribed manner, issue of diminution cerficates and filing income tax returns. The principle of income tax is to produce a mechanism for tax authorities to gather tax at the supply of sources of income, and conjointly to expand the assets.
Failure to accommodates the prescribed withholding needs might end in the levy of penalty interest, penalty and prosecution beneath the Act, additionally to the liability to create up for the taxes not withheld/deposited.
• INCOME TAX & WITHHOLDING TAXES
• Advising on tax management of Corporates.
• Advising & reviewing of all necessary tax withholding responsibilities.
• Advising all money subjects that are of your interest and keeping you updated
on the new amendments, circulars, notifications & judgments.
• Verification of all payments to vendors for the needs of determination of correct application of rates and class for deduction of withholding taxes.
• Computation of monthly TDS on the premise of higher than.
• Monthly tax reconciliation of the TDS due and subtracted.
• Preparation and deposit of Monthly challans on or before the statutory due dates.
• Filing of quarterly E-TDS Returns.
• Filing of annual income tax return.