Only earning money without proper management and advisory is of no use. We offer advisory service related to income tax which includes filing timely returns with profit and loss statement and balance sheet by a qualified CA.
Income earned in a financial year is liable to tax as per the rates prescribed for that year. A financial year runs from 1 April to 31 March of the following year. India follows a residence based taxation system. Broadly, taxpayers may be classified as residents or non-residents. Individual taxpayers may also be classified as 'residents but not ordinary residents'.
An Indian company is always an Indian resident. Additionally, any other company whose affairs are wholly controlled and managed from India is also a resident. Any other company would be a non-resident.
Taxation is an extremely complex subject and needs professional skill of the highest order and the consultant has to keep track of frequent changes and modifications made in the Income tax rules from time to time to be able to guide aptly in tax planning, documentation and represent the cases skillfully. Even a minor lapse can cost huge money to an assessee. So we offer pragmatic solutions to manage the affairs in the most tax efficient manner. We at taxbuds have an aptitude for providing expert advice in tax planning.
As Indian taxation is prone to many changes, so decision making should be perfectly updated with new amendments. After conducting in-depth analysis of the changes we send reports which communicate the changes lucidly and in simple English language for each comprehension:
- Recommending tax strategies which would minimize tax incidence.
- Tax planning for Resident and Non-Resident Indians (NRI’s)
- Tax Planning for Overseas entities desirous of setting up a business in India and Indian entities desirous of setting up an overseas business/base/branch office.
- Tax representation before the Indian tax authorities at various levels
- Transfer Pricing Studies & Audit.
- Conducting Tax Audit U/s. 44 AB of the Income Tax Act, 1961.
- Certification for Form 15CB required for remitting funds outside India