Taxation Services In India

For any business to run successfully, tax planning is an effective tool. Tax planning entitles you for capital gains. Therefore, it is important for everyone to understand the importance and need of taxation services. We are leading legal forms in india offering taxation services of all types keeping in mind the need and budget of the client.

Our highly professionalized team in the taxation department, values the clients time and need which helps them offer quality and unmatchable services in india. For example- filing of tax payment can be tedious and time consuming task but out trained and experience professionals have great expertise in handling all such types of services, offering you 100% satisfaction and reliable output. We aim to offer end-to-end solutions for the below listed taxation services :

INDIAN INCOME TAX

India’s central government charges direct tax called “Income Tax” on your income earned during a financial year. Tax rates, rules, compliances, forms are different based on the nature of income such as Business or professional income, Capital gains on the sale of assets or investments, Salary income, rental income, interest income, dividend income or any other. Due to this complexity, it is advisable for every taxpayer to take the help of an expert and experienced tax practitioner so as to pay the correct taxes and file complete and error-free returns. We at ABPN Consulting provide the following various tax services

Corporate Taxes: Corporate tax is a direct tax levied by the central government on the income generated by a body corporate. Corporate tax in India has various tax rates applicable to the companies depending upon the line of activity, size and nature of operations. Tax rates start from as low as 22% for manufacturing concerns subject to fulfillment of certain conditions mentioned in the acts and rules. Our team of expert professionals will make sure that your company is paying the optimum and correct taxes.

Representations before tax authorities: Being on the right side of the law is the best policy for every business, though one cannot completely rule out the possibility of getting tax queries from the department. We at ABPN Consulting provide you with legal advisory services from expert professionals. We also take care of representation and hearing before the authorities.

Taxation for Non-Resident Indians (NRIs): Even after shifting to foreign countries, many Indians still hold bank accounts, assets, and investments in India. These Indian assets and investments may generate some revenue for you and where there is income there comes the tax compliances. You also need guidance and support at the time of disposing of the assets so as to pay the optimum withholding tax (TDS) and capital gain tax. There are multiple compliances that need to be done in the case of NRIs, we at ABPN Consulting will ensure that you are fully compliant with the India Tax Laws.

Taxation for high-net-worth individuals (HNIs): HNIs, in particular, are highly affected by any tax change that government brings in, it may turn out to be positive or negative for you. Our experienced team is capable to provide quality services to you and helping you in paying the correct and optimum taxes. Our personalized services for you includes transaction advisory, accounting and record-keeping, compliance with various applicable laws, drafting of documents, optimizing the tax effect, computation and timely payment of taxes, filing of tax returns, liaising with tax authorities and many more.

Taxes for Professionals and self-employed individuals: We have vast experience in catering to self-employed individuals such as doctors, lawyers, engineering and technology service consultants, freelancers and all sorts of professionals. Be it the size of your revenue or the complexity of catering to foreign clients, we are successfully solving all your queries related to legal, tax and accounts.

TDS and TCS compliances: TDS stands for “Tax Deducted at Source” and it is a withholding tax to be deducted by the payer at the time of certain types of expense payments and paid to the government on monthly basis and also file a quarterly return with the government authorities mentioning the PAN details of the payee. Whereas TCS is a “Tax Collected at Source” which the seller has to collect on specified sales and paid to the government on monthly basis and also has to file a quarterly return with the government authorities mentioning the PAN details of the purchaser. We have a dedicated team to look after the timely TDS & TCS compliances of our clients to make sure that it is paid at the correct rates, on all the specified sales & payments and on a timely basis.

Transfer Pricing: Transfer pricing regulations are introduced in India under section 92B of The Income Tax Act, 1961 to ensure that the transactions between related parties are entered into at arm’s length price and thereby avoid any tax loss to the country. In simple words, the sale or transfer of goods, services or technology should be at a price that would have been charged if the transaction had happened between the unrelated parties.

• Our team of experts will help you in deciding the transfer price for your goods or services.
• We will guide you on the best suitable methodology for your enterprise.
• We will ensure that the correct tax is paid in a country where the value is created.

GOODS AND SERVICE TAX

GST Registration: Goods and Service Tax (GST) being a tax on supply, every supplier in the State or Union Territory from where he makes a taxable supply of goods or services or both should get GST registration if his aggregate turnover in a financial year exceeds prescribed amount of threshold exemption limit.

The threshold limit of aggregate turnover for exemption from registration and payment of GST for suppliers of services is INR 20 Lakh (INR 10 Lakh for the States of Manipur, Mizoram, Nagaland and Tripura). The threshold limit of aggregate turnover for exemption from registration and payment of GST for suppliers of goods is INR 40 Lakh (INR 20 Lakh in the States of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Telangana, Tripura and Uttarakhand) w.e.f. 01.04.2019.

Our team of experienced professionals can help you with the followings:

• GST monthly compliances
• GST Advisory
• Refund and Export compliances

PROFESSIONAL TAX

Professional tax is a state tax levied by a state on salary, self-employed, firm, LLP & its partners and company & its directors. Each state in India has more or less the same structure for professional tax applicable to the resident of that state. PT amount may vary from state to state which will be subject to a maximum of INR 2,500 per annum. PT of employees needs to be deducted on monthly basis and paid to the government on monthly basis or sometimes annually depending upon the situation. Every business owner is supposed to take two types of registration under Professional Tax laws, one is for the entity which is called PTEC and the other is for employees which is called PTRC. Following states do not levy professional tax, so businesses in these states need not comply with PT –

Provident Fund (PF) and ESIC: PF is the social security scheme managed by the government body. In India, Employee Provident Fund Organisation (EPFO) manages the monthly PF savings of the employees wherein employee and employer both contribute equally. ESI is a self-financed insurance and healthcare scheme for Indian Employees wherein employer and employee contribute equally. ESI is managed by Employee State Insurance Corporation (ESIC) in India. If your business entity employs more than 20 people, your organisation must register under the EPF scheme. If your organisation employs more than 10 people then you must register under the ESI scheme. In case your organisation is still under the threshold limit and you want to apply for these schemes, you can get voluntary registration for the same.