Taxation


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Taxation

Tax
There are various benefits available in the present tax systems and law. There is a fair amount of scope available to plan the activity and structure the income in such a way that the person can minimize the tax burden within the parameters provided by the law. Setting up projects in backward areas, SEZ, investments in specified instruments for reduction of tax burden, structuring components of salary or other receipt in such a way that clients get the maximum of the benefits provided under income tax, service tax or other tax laws.

Tax Advisory Services & Compliances
In day-to-day business activity, clients are required to deal with various provisions of income tax such as TDS, Fringe Benefit Tax, transactions with NRIs, to appear before various authorities, etc. The law also requires filing of various returns and information on a periodic basis, as well as on a case-to-case basis.

Transfer Pricing Regulation
Any enterprise which has any international transactions with its associate enterprise needs to maintain certain documents to establish that the transactions are done at Arm's Length Price. The enterprise needs to get these transactions audited by a practicing Chartered Accountant and a report of the same needs to be submitted to Income Tax authorities.

Service Tax
Service Tax has now become applicable on almost all the services. All the persons rendering taxable services exceeding a certain amount are required to get registered under service tax and file their returns periodically. Service Tax also provides certain benefits such as taking credit on input services and exemption for export of services.

Information Systems Audit & Assurance
IS audit is an audit to ensure data integrity, reliability and availability. This includes verification of IT infrastructure, systems and processes to ensure that access is only to the authorized person. Systems audit also ensures risk management and minimum downtime. It ensures that data is secured when it is in the database or when it travels to and from the users, etc. The verification of availability of the systems without any disruption, even in case of disaster, can be termed as verification of BCP (Business Continuity Plan) or DRP (Disaster Recovery Plan).