Detailed Look on Taxes and Tax-Related Services

02 Oct 2014

 tax is primarily a levy or financial charge imposed on a legal entity or an individual who is the taxpayer. This tax is imposed by a state or any functional comparable of a state, and the failure to pay taxes on time is a punishable act as per law. These duties are obligatory by numerous administrative divisions and sub-divisions. Taxes are inclusive of indirect or direct levy that can be paid in a currency or also as its equivalent labor. Few of the services that are provided by tax advocate in India are as follows:

  • Service tax compliances
  • Consultancy on Vat and also rendering Vat returns
  • Tax appeals, prosecution and penalty
  • TDS returns and payments
  • Special investigations and tax audit
  • Foreign tax consultancy
  • Registration of the organizations with tax authorities
  • Tax filling as well as returns review services
  • Review of accounting processes for the company as well as personal taxation
  • Obtaining tax clearance certificates along with settlement of tax issues
  • Tax planning
  • General advice on the matters of tax and setting up PAYE scheme are some of the many services offered.

When it comes to income tax, the tax advocate in Delhi and other law firms assist numerous companies and individuals with their taxation issues. In India, these services fall under the jurisdiction of finance and revenue ministry of the Union Government. The term income tax itself envelops many aspects. Co-operative societies, trusts, firms, companies as well as individual citizens can be taxed under this banner. But, the main challenge is calculating the overall payable amount. This is where the advocates and law firms come in the picture. They are very well equipped with trained and experienced staff that assesses the earnings of their clients and also look at their deductions and investments. They are also well acquainted with the market trends hence are aware as to how to use various investments methods in order to deduct taxes. They can assist you with the following services:

  • Filing of the annual returns of income tax
  • Advising the clients with all the financial matters that are in the client’s interested and keep them updated on the latest judgments, notifications, circulars and amendments
  • Reviewing as well as advising all the tax withholding responsibilities
  • Assisting and advising an employee on IT planning
  • Plan and Files (IT returns of directors)
  • Advising on the planning of income tax for corporate

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