Service Offering - Direct and International Tax

Step into the world of income tax services with our team of experienced chartered accountants. Let’s navigate the path toward success and sustainability together.

Personal Income Tax

Our personal income tax services can help streamline your income tax filing, maximize your tax returns, and ensure compliance with the government’s latest regulations. We can help you navigate your income taxes with ease. Your income tax slab and tax rate depend on your income.

Here are some of the key services we offer:

● Tax planning

● E-filing income tax returns and calculating your net worth

● Withholding tax returns

● Lower withholding certificates

● Certificates under income tax

● Compliances health check

● Tax training

● Family tax planning

Corporate Tax

Corporate tax in India is a part of the income tax law. It indicates the tax to be paid to the government from the profit earned by a corporate company. Large companies should prepare financial documents and consistently perform health checks for tax compliance. Our corporate tax planning professionals offer many services, including:

● Routine tax advisory for corporate tax in India

● Mergers and acquisitions, transactions, restructuring tax

● Tax returns

● Withholding tax returns

● Lower withholding certificates

● Certifications

● Compliance health checks

● Tax training

International Taxation

Tax complexities arise when local businesses expand overseas or international companies have a presence in India. Restructuring a company’s legal and financial policies is a requirement for cross-border economic tasks. International taxation services help optimize tax strategies in compliance with international standards.

Here are the international taxation services we offer:

● Advising on an entry strategy

● Inbound/Outbound investment structuring

● Tax optimization and risk management

● Permanent Establishment (PE) advisory and risk mitigation

● General Anti Avoidance Rules (GAAR) advisory

● Multilateral Instrument (MLI) advisory

Foreign Portfolio Investors

Businesses may have foreign investments in compliance with Indian regulations. Through our services for foreign portfolio investors, we prepare and file tax returns in compliance with Indian tax regulations. Other tax services include:

● Advisory on structuring operations from an income tax perspective

● Permanent Account Number application in the Common Application form (CAF)

● Digital Signature Certificate (DSC) application

● Providing daily/weekly/monthly/quarterly tax computation for NAV purposes

● Issue of remittance letter/certificate for repatriation of funds

● Signatory services

● Regulatory and fund accounting services

● Preparation and filing of Indian tax returns

● Liaising with Indian regulatory authorities

● Holistic India tax compliances

● Tax litigation and representation

Transfer Pricing

Transfer pricing refers to allocating price value to goods and services with appropriate weight. It can help smooth transactions between companies locally and internationally. We examine your transfer pricing and set it in compliance with transfer pricing regulations. These are the transfer pricing services we provide:

● Audit, certification, and compliance services

● Litigation support, including representation services

● Authority negotiations

● Advance Pricing Agreements (APA) advisory and end-to-end pricing policies

● Tax-efficient supply chain management

● Base Erosion and Profit Shifting (BEPS) advisory

Tax Litigation and Representations

Tax litigation and representations refer to the legal proceedings to resolve tax disputes between a company and individuals. VPRP & Co LLP engages and gathers income tax details of the business and helps you counter taxation and legal issues, supporting your stance with the authorities. We provide the following tax services:

● Advisory on tax litigation and possibilities with practical insights

● Representation for faceless or physical scrutiny proceedings by Indian Revenue Authorities

● Representation before the Commissioner of Income Tax (Appeals)

● Representation before the Dispute Resolution Panel

● Representation before the Income Tax Appellate Tribunal (ITAT)

● Coordinating with external counsel for representation

Our income tax professionals offer tax guidance to undertake tax compliance and plan your taxes at the right time. With decades of experience and expertise, we help you overcome tax liability with exemption and deduction, reducing the stress associated with legal and financial risk. We offer hassle-free tax planning services for your business at a reasonable cost.

Benefits of Our Tax Services

1. Who is eligible for income tax returns?

Individuals under 60 can file tax returns if their yearly income exceeds Rs. 2.5 lakhs. The limit is Rs. 3 lakhs for senior citizens aged 60-79 and Rs. 5 lakhs for those over 80.

2. Is it compulsory to file ITR?

Income tax return (ITR) filling is compulsory as per the income tax laws if certain specified transactions are carried out by the individual or gross total income is above the basic exemption limit. Additionally, filing ITR is also compulsory if someone’s taxable income is higher than the basic exemption limit.

3. What is TDS in income tax?

Tax Deducted at Source (TDS) collects taxes at the time of income distribution or immediately from the source of revenue. While making payment or credit (in ledger of deductee) in books of accounts,, the deductor will deduct tax at source and remit the remaining money to the deductee. The TDS amount would be paid to the central government as per the specified due date.

4. How much income is tax-free?

The Budget 2023 has introduced new tax slabs as a part of the new tax regime. Upto Rs. 7 lakhs of taxable income, there is a full rebate. However, if the income exceeds Rs. 7 lakhs, then tax is calculated based on slabs. Earnings up to Rs. 3 lakhs would be exempted from taxes entirely. If an individual’s annual income is within the bracket of Rs. 3 to 5 lakhs, a tax rate in the order of about 5% would be levied on him/her. For incomes exceeding Rs. 6 lakhs but less than Rs. 9 lakhs, 10% tax would be leveraged

FAQs

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