This is a type of tax which is levied by the government on the income/profits of individual or organizations. Direct taxes include taxes like Income tax, corporate taxes, wealth tax, gift tax etc. Incidence of tax is always on the recipient of the income or profit. One needs to make an assessment of his tax liability during the given period and dutybound to make payment of taxes to government. In India, income tax is levied and governed by provisions under Income tax act, 1961 and rules thereunder.
Every taxpayer needs to be make an assessment of their tax liability on a yearly basis and furnish necessary filings under the Act. Once the return of income is filed up by the taxpayer, the next step is the processing of the return of income by the Income Tax Department. The Income Tax Department examines the return of income for its correctness.
We provide following professional services related to direct taxes.
# Tax planning and advisory
# Self and advance tax assessment
# Audit under Income tax act
# Facilitate in filing of withholding tax (TDS) returns
# Obtaining Lower Deduction Certificate
# Filing of Income tax returns
# Departmental assessment
# Tax appeals and litigation support with Tribunal
# CA Certifications
# Tax savings and Investment planning
# Planning under DTAA
# 12A and 80G Approvals