Direct and Indirect Taxation

2. TDS Compliance and Advisory

Applicability Review

Our firm provides comprehensive support for Tax Deducted at Source (TDS) compliance under the Income-tax Act, 1961, ensuring timely and accurate adherence to regulatory requirements.

Analysis of transactions to determine TDS applicability under relevant sections such as Section 192, 194C, 194J, 194I, and 194H.

TDS Deduction and Computation

Calculation of the correct TDS amount, verification of applicable rates and threshold limits, and ensuring PAN compliance.

TDS Payment

Preparation of challans and timely deposit of TDS through the Income Tax Department of India portal.

TDS Return Filing

Preparation and filing of quarterly returns such as Form 24Q, Form 26Q, and Form 27Q through the National Securities Depository Limited system.

TDS Certificates

Generation and issuance of Form 16 and Form 16A through the TRACES portal

Reconciliation and Corrections

Reconciliation of books, challans, and returns, along with filing correction statements where required.

Notice Management

Assistance in responding to notices relating to short deduction, late filing, and interest or penalty demands.

3. Scrutiny Assessment Services

Notice Analysis

Scrutiny assessments involve a detailed examination of income tax returns by the Income Tax Department of India to verify the accuracy of reported income, deductions, and tax payments. These assessments are conducted under Section 143(2) and Section 143(3) of the Income-tax Act, 1961.

Reviewing scrutiny notices, identifying issues raised, and advising clients on required documentation and explanations.

Verification of Records

Examination of books of accounts, bank statements, invoices, tax audit reports, and income tax returns to ensure accuracy.

Preparation of Replies

Drafting and submitting detailed responses explaining income sources, deductions, and questioned transactions.

Representation before Authorities

Assisting clients during assessment proceedings, including hearings and submission of supporting documents.

Handling Additions and Disallowances

Providing legal justifications and supporting documents to address proposed additions by the Assessing Officer.

Reconciliation and Documentation

Reconciling data between income tax returns, Form 26AS, books of accounts, and GST returns where applicable.

Post-Assessment Support

Assistance with rectification applications and appeals before appellate authorities including the Income Tax Appellate Tribunal (ITAT).

4. Tax Planning and Advisory

Our firm assists clients in effective tax planning to ensure optimal tax outcomes while maintaining full compliance with applicable laws.

KEY AREAS INCLUDE

• Identification of tax-saving opportunities

• Utilization of deductions and exemptions

• Planning investments and expenditures

• Carry-forward and set-off of losses.

GST & Indirect Tax Services

• Assistance in obtaining GST registration for businesses.

• Advisory on mandatory registration thresholds and applicability.

• Filing applications for amendment of GST registration details.

• Support in GST cancellation or revocation of cancellation.

We provide end-to-end support for preparation and filing of GST returns in accordance with the Central Goods and Services Tax Act, 2017, ensuring timely and accurate compliance with requirements administered by the Central Board of Indirect Taxes and Customs.

1. GST Registration and Amendments

2. GST Return Filing and Compliance

Preparation and filing of periodic GST returns such as:

• GSTR-1 – Outward supplies

• GSTR-3B – Monthly summary return

• GSTR-4 – Return for composition taxpayers

• GSTR-5 – Return for non-resident taxable persons

• GSTR-6 – Return for Input Service Distributors (ISD)

• GSTR-7 – Return for TDS under GST

• GSTR-8 – Return for e-commerce operators (TCS)

• GSTR-9 / GSTR-9C – Annual return and reconciliation

Additional Compliance Services

• Reconciliation of books of accounts with GSTR-1, GSTR-3B, and GSTR-2B

• Identification and rectification of mismatches in GST returns

• Ensuring timely filing and compliance with GST due dates.

3. Input Tax Credit (ITC) Advisory

• Verification of eligibility of Input Tax Credit.

• Reconciliation of ITC with GSTR-2B and purchase records.

• Advisory on blocked credits, reversals, and ITC optimization.

4. GST Advisory and Transaction Structuring

• Advisory on GST applicability, classification, and tax rates.

• Guidance on place of supply rules and time of supply provisions.

• Structuring transactions to ensure tax efficiency and compliance.

5. GST Assessments and Departmental Notices

• Assistance in responding to notices issued by GST authorities.

• Preparation of replies for mismatches, ITC issues, and return discrepancies.

• Representation before GST officers during assessment or verification

  proceedings.

6. GST Refund Services

Assistance in filing GST refund applications, including:

o Export refunds

o Refund of excess tax paid

o Refund of accumulated Input Tax Credit.

7. GST Audit and Compliance Review

• Conducting GST compliance reviews and internal audits.

• Identifying risks and ensuring adherence to GST provisions.

• Assistance in GST audit documentation and reconciliations.

8. Litigation and Representation

• Representation in GST disputes and appeals before appellate authorities.

• Preparation of submissions and documentation for GST litigation

  matters.