Direct Tax

Continuous development and increasing complexities in economic environment leads legislators to bring rapid changes in tax laws. We are providing in-depth and well thought advice to our clients by analyzing the changes. Our professional’s motive “AS TRUSTED ADVISORS” is as important as ever. Whether are you thinking for a restructuring of your business or coming to terms with frequent changes in tax regulations, our professional team will admire you how to confront and navigate through those situations and provide with an accurate and deep insight to meet business needs.

We advise our clients on major developments in taxation regimes occurring periodically and their effect on business. Apart, our multi-disciplinary tax team helps you in corporate tax advisory and overall tax planning.

From an international/lay perspective, it is generally believed that Indian Income-Tax Law offers a hostile reception. Further, with the introduction of concepts such as Indirect transfers, GAAR and others, the Tax challenge is likely to escalate.

We understand the impact of developments in tax and regulatory aspects and strategically use them to the benefit of business activities conducted by you. Our services include the following:

1) Designing Entry strategy from a tax and regulatory perspective

2) Tax planning for corporate restructuring, amalgamation, demerger, slump sale, divestures and other major corporate moves.

3) Tax planning strategies for profit and dividend repatriation.

4) Legal opinion on Direct Tax Law and Procedures.

5) Advising on withholding tax obligations on payments.

6) Advice on corrective measures required under different Direct Tax statutes.

7) Advice on structuring remuneration packages for employees and on cost saving opportunities so as to minimise the tax bill in the hands of employees and maximise their take home pay, and also ensure that the entire remuneration is allowed as business expenditure for the employer.

With globalization becoming norm of the day, companies are looking to align their global tax position with their overall business strategy, to be competitive and provide value to shareholders.

Due to tie-up with international tax professionals SKP helps you manage your business tax burden by uncovering opportunities, managing global tax risks and meeting cross-border reporting obligations. Our services include the following:

1) Structuring with a view to minimize tax liability of Foreign Companies/Non-resident entities investing in India and planning to do business in India.

2) Structuring of payment under the provisions of Income Tax Act, and Double taxation avoidance treaty, with a view to minimize tax liability.

3) We counsel Clients in developing inbound as well as outbound investment structures which result in tax efficiency during the duration of investment period and also at the time of exit.

Representation Services are services wherein we represent the client before the various tax officials regarding their income tax matters. We appear and represent in all appeals and other proceedings including before the Income Tax Appellate Tribunal, Settlement Commission and Authority for Advance Rulings (AAR), Dispute Resolution Panel (DRP), etc. We effectively represent our clients before all layers of tax department which help taxpayers sail through audits and scrutiny by the tax departments easily.

Determination of transfer pricing policy is an approach which brings certainty to the inter-company transfer pricing and also mitigates transfer pricing exposure in advance. Therefore, prior taking on any international transactions or specified domestic transactions with its associated enterprise it is essential that the transaction is evaluated, structured and planned specifically considering the tax impact.

We have a team of specialists in accounting, taxation & law. This combination of specialist enables us to deal all the transfer pricing matters is technical & innovative manner. Our Services include the following:-

1) Transfer pricing Planning

2) Documentation

3) Transfer Pricing Study Report

4) Litigation Support

5) Advice on all relevant matters.

Efficient maintenance of accounting records, unfettered payroll delivery and timely statutory compliances reduce risks, enable effective financial monitoring and control, and increase efficiency.

The Tax Compliances & Reporting Services we offer are:-

1) Tax Audits as per the provisions of the Indian Income tax Laws

2) Preparation and Review of corporate tax returns to ensure compliances with the Income Tax Act, 1961.

3) Payment of Tax On Employment

4) Monthly compiling of TDS from client records, timely deposit of taxes, filing of Quarterly E-TDS returns & issuance of Annual Certificated to Vendors. etc.

5) Help during tax audit by revenue authorities

6) Obtaining PAN/TAN

We undertake consultancy and certification services required for making foreign remittances according to the provisions of section 195 of the Income tax Act, 1961 or as per Double Taxation Avoidance agreements (DTAA). We also provide the services obtaining Lower TDS Certificate from the Income Tax Department.

The services of this category broadly include:

1) Opinion on Applicability of withholding tax on various foreign remittances as per Indian Income tax Act / DTAA.

2) Issuing Foreign Remittance Certificates under the various provisions of the Income Tax Act, 1961.

3) We help in seeking of certificates from the income tax department for non/lower deduction of tax at source (TDS).

4) Representations before International taxation authorities regarding matters arising out of withholding tax on foreign remittances.

We understand that in some of the short assignment how difficult it is to appoint fresh employee, train them for assignment. We provide trained consultant who will work at client’s workplace for particular assignment. Our services includes:

Indian tax law requires a tactical approach and a range of strategies so that you are well positioned for tax savings. Our services include the following:

1) Tax Implication on each Transaction which involve Income element

2) Personal Tax Compliances – Compiling and filing of Tax return

3) Advance tax calculations and deposit on quarterly basis and deposit of self-assessment tax and tax on regular assessments etc.

4) Replying to various Income Tax Notices, getting wrongly raised demand deleted and getting refunds, if any.