Personal Income Tax- Services
Rising incomes, heavier pay packages, lack of time and complicated tax laws have taken handling income tax returns and related matters out of the hands of an individual. Compliance with an increasingly complex system, however, is a must. This task has to be necessarily assigned to the experts who can do it with minimum error and fuss. Handling tax matters is not merely about filling up forms. It entails understanding the tax structure and utilizing it to solve all tax elated problems be it relief from tax or the various exemptions.
It is important to comply with the system voluntarily as it minimizes problems. This can be done only when there is complete understanding of the laws and the system. This is where professionals come in. They can foresee the problems and minimize their impact.
It is essential to achieve compliance with the system voluntarily. This will help to avoid problems. Some problems which are inherent can be minimized. The consequences can be foreseen and they are present in the long run.
CIG Group helps you prepare your tax returns efficiently and accurately. Expert advice on tax relief and exemption are provided. We help you comply with tax services and plan for the future and assist with broader documentation and financial planning too.
Direct Tax is the tax that is paid directly to the government by the persons on whom it is imposed. It cannot be shifted onto others. The best examples of direct taxes are income tax and property tax. Direct tax is often accompanied by a tax return filing by the taxpayer.
Under Direct Taxation we provide tax consultancy services in the following areas:
- Direct Tax Services
- Fringe Benefit Tax
- Double Taxation Avoidance Agreements
- International Taxation
Tax Consultancy Services For Corporate Clients
- With complete functional know how of ERP (SAP/ CODA/ Oracle etc), undertake Direct Tax services for corporate clients. Our tax services for corporate clients include:
- Day-to-day tax matters that include replying to various tax notices and providing necessary tax support on regular tax matters.
- Management of tax records and reports in both Soft and Hard files including documentation as per SOX.
- Tax compliance that includes advance Income tax and Fringe Benefit Tax (FBT) calculations and deposits, TDS compliance and filing of returns.
- Compilation of tax details for audit and support to the auditors.
- We provide all important information to statutory auditors or management auditors in relation to tax matters.
- We support in the compilation of Transfer pricing documentation and certification.
- We also guide in the compilation of Corporate tax returns such as Income tax, wealth tax and FBT, and also its e-Filing with the revenue department.
- We provide support in the areas of PAN, TAN and online tax credits view also.
- We provide tax reporting on defined frequencies such as monthly, quarterly, annually to Parent Company according to their formats.
- Compilation of Various details for Tax Assessment purposes such as Scrutiny and Appellate level for Income tax and Transfer pricing.
Personal Taxation Consultancy Services
We offer personal taxation consultancy services like personal tax planning, personal tax consultancy services, tax compliance and advisory services that cover the following:
- Personal Tax Consulting.
- Personal Tax Services Compliances that includes compiling and filing of Tax returns.
- We provide review and assistance in advance tax computations.
- Representation before the Tax authorities related to tax assessments, refunds or other matters.
- We guide in getting various tax registrations that includes Permanent Account Number (PAN).
- Management of tax records in Soft and Hard forms.
- Advisory on tax issues like capital gains/ loans/ tax Investments etc.
We undertake Regulatory compliances such as statutory returns and documents preparations, compilations and e-filings with the revenue authorities that include the following:
- Tax Audits as per the provisions of the Indian Income tax Laws.
- We help in the preparation and review of corporate tax returns to ensure the compliances with the Income Tax Act, 1961 and the various judicial pronouncements.
- We guide for the preparation and review of the withholding tax (TDS) returns as per the provisions of the Income Tax Act, 1961.
- Seeking Advance Rulings.
We undertake tax representations before the Revenue authorities for Tax Assessments of Income tax and transfer pricing cases and any other such tax matters.
Foreign Remittance Certifications
We also 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) as per the guidelines of Reserve Bank of India (RBI). The services of this category broadly include:
- We offer expert suggestions on the applicability of withholding tax on various foreign remittances as per Indian Income tax Act / DTAA.
- We guide in matters of issuing Foreign Remittance Certificates under the various provisions of the Income Tax Act, 1961.
- We guide in the Royalty and Technical know-how workings as per Reserve Bank of India (RBI) guidelines and formats and withholding the tax certification on such remittances.
- We help in seeking of certificates from the International taxation department for non/lower deduction of tax at source (TDS).
- Representations before International taxation authorities regarding matters arising out of withholding tax on foreign remittances.
- We also help in other documentation and remittance support and dealing with authorized dealers regarding foreign remittances.
Sales Tax Consultant
- Advice on the applicability and levy of Central tax and State Sales tax laws or Works Contract tax.
- Provide assistance in the structuring of transactions and agreements in relation to inter-state and intra-state sales in order to make the tax incidences to the minimum.
- Conduct comprehensive Sales tax health-checks and also studies to ensure that the appropriate advice is given in setting up warehousing locations to minimise Sales tax incidence.
Service Tax Consultancy
- We provide advisory services with regard to applicability of the tax and procedural compliance like registration, assessments etc.
- We help to review contracts and agreements to help mitigate the overall incidence of service tax.
- We help in conducting Service tax health checks to determine the service tax implications on client operations, gauge compliance with legal provisions and also suggest tax planning opportunities to our clients.
- We provide advisory services relating to various aspects of custom law and applicable regulations. We cover in it the rates of duties, exemptions, valuation planning, classification assistance and assessments.
- We render advice on a wide range of custom procedures and its documentation requirements, including import and export of goods, clearance of imports, warehousing, duty entitlements etc.
- We assist our clients on the policies and procedures set down under the Export-Import (EXIM) Policy like licensing requirements. We provide the right guidance to enable our clients to make the most of various benefits available to specific entities/projects or to units in certain specified areas and concessions available under various export promotion schemes.
We render perfect advice on a wide range of issues that is related to excise duty implications.
We provide the right guidance to enable our clients to make the most of excise duty concessions and relief.
VAT Consultancy Services
We provide expert advice on a wide range of issues related to VAT implications on cross-border transactions.
- We assist in claiming VAT input credits.
- We suggest on the perfect strategy to minimise the global VAT incidence.
Anti Dumping Duties
We render advisory services that include analysis of the existing anti-dumping proceedings.
We guide in the preparation and filing of complaints with the Directorate General of Anti-Dumping (DGAD).