Taxation Services :

Direct Tax Consultancy

Taxation is an extremely complex subject and needs professional skill of the highest order and the consultant has to continuously upgrade to keep track of frequent changes and modifications made in the Income tax rules generally in every Budget. We help our clients to manage their taxes so that the business can be run efficiently and without any fear of the tax department. We provide expert advice in tax planning and management. Our tax consultancy services include international tax planning, Fringe benefit tax consultancy, Indian direct tax consultancy and wealth tax consultancy.

Transfer Pricing Consultancy
Transfer Pricing Regulations were introduced in India for the A.Y 2002-03 and has been constantly evolving since then. We offer highly specialized Transfer Pricing consultancy which includes-

  • Selection of the most appropriate Transfer Pricing Method and ensuring that the accounts of the company are in accordance with the method selected
  • Preparation of the Comprehensive Transfer Pricing Study to be submitted to the Tax department
  • Representing the company before the Income Tax department for assessment of the Transfer Pricing methodology used by them.

Tax Compliances

Preparation and filing of various statutory returns and documents with the revenue authorities periodically is a requirement of all business entities. A plethora of paper work is involved in filing numerous tax returns on quarterly, half - yearly and yearly basis. It is always a very complicated and lengthy process to be complied with punctually and regularly. Failure of compliance attracts heavy penalties and even prosecution in certain cases. We help the business entity in preparation and submitting of all requisite returns with the government.

Tax Representation

The Income tax department continuously by adopting certain methods, which vary from year to year, picks up certain Income tax returns for detailed scrutiny. The scrutiny generally involves preparation and submission of detailed documents and information. It also entails the skills of the person representing the case so that tall information is provided in such a manner to the Assessing Officer that there is no cause for any additions. The tax representative, therefore, has to be a very knowledgeable, experienced and an eloquent counsel to be able to derive full justice from the revenue authorities lest the client should face any harassment or undue loss. The representation is also done after the first assessment stage, before the Commissioner (Appeals) or the Income Tax Tribunal. Needless to say representations before higher authorities needs more skills, which we at Anubha & Raman possess.

Tax Assistance

Our tax services include:

  • Getting yourself registered with Income Tax Authorities i.e getting Permanent Account Number (PAN)
  • Filing of Income Tax Returns
  • E-filing of TDS Returns
  • Consultancy on Income Tax Matters
  • Consultancy on Tax Planning & Savings
  • Consultancy on Double Taxation.
  • Consultancy on International Taxation
  • Liaison with Income Tax Authorities
  • STPI registrations
  • SEZ registrations
  • Tax deduction account numbers
  • Services related to withholding taxes

Indirect tax Consultancy
Service Tax

Service Tax is a tax levied on services provided by a service provider to its clients. This tax is governed by the Central Government and the provisions are stipulated in the Chapter V of Finance Act, 1994. New services are added to the existing ones every year. The present rate of service tax is 12.36%

Registration Requirement
Any person who provides taxable service is required to get himself registered with the central excise department within 30 days from the date of when the total revenue from providing of taxable service exceeds the exemption limit which is Rs. 9 lakhs per annum at present. Each premises from where taxable service or services is provided has to be registered but common registration may be permissible for all premises from where taxable services are provided. Taxable service provider should apply for registration to superintendent of central excise in the application form ST-1 along with the requisite documents.
How to make payment of service tax
Due date for payment of Service Tax to the A/c of Government :-
For Company :- Monthly liability. Deposit tax so collected by 5th of next month. For month of March deposit by 31st March.
For other than Company :- Quarterly liability. Deposit by 5th of month next to the end of quarter. For month of quarter ended 31st March deposit by 31st March.


Quarter ended on

Due Date for payment of Service Tax

30th June

5th July

30th September

5th October

31st December

5th January

31st March

31st March

Service Tax Returns
Every taxable service provider has to file return within prescribed Form ST-3. If a person provides more than one services use separate ST-3 for each of services.

Every taxable service provider has to file half yearly return in Form ST-3 to the Jurisdictional superintendent of central excise on or before 25th of the month following the respective half-year. Therefore, due date for filing service tax returns are :-

  • 25th April for half year ended October to March and
  • 25th October for half year April to September

Service Tax Compliance
Service Tax has now become one of the major sources of yielding revenue to the exchequer. The rules and regulations and various procedures laid down under service Tax are very elaborate. The tax has to be deposited in treasury with in the stipulated period and various returns are to be filed on prescribed forms with in specified dates.
VAT
DVAT is a form of indirect tax and is in the nature of multi-point sales tax. It is a tax on sale of goods in Delhi. Under DVAT, a dealer charges tax on its sales. However, the dealer is allowed to claim a credit for the tax already paid on its purchases of business inputs, and is required to pay only the net amount to the government. This credit-offset mechanism ensures that the tax does not accumulate as goods pass from the manufacturer to wholesaler to retailer.
The net tax of a dealer is the difference between the total tax charged on its sales (referred to as its output tax) during a given tax period and the tax paid on its purchases (referred to as its input tax) during the period. If the output tax for the period exceeds the input tax, the difference is payable to the government. If the input tax exceeds the output tax, the dealer is entitled to a refund of the excess, or to carry forward the excess to be offset against tax payable in a future period.
DVAT relies on a system of self-assessment of tax liability by taxpayers. You self-assess the tax by determining the tax due on your sales and the credits you are entitled to claim on your purchases, and by filing a return within the due date. If your tax credits in respect of your purchases exceed your DVAT liability, the excess credits can be applied against your CST liability. You will be entitled to a refund of any excess credits still remaining. The refund may be given to you within one month after the date of furnishing the return or making a claim by you.
Registration is required under DVAT if:

  1. Your turnover in the year preceding the commencement of the DVAT Act exceeded Rs. 10 Lakh;
  2. Your turnover in the current year is likely to exceed Rs. 10 Lakh;
  3. You make any interstate sale; or
  4. You make interstate purchases for resale in Delhi.

For registration purposes, your turnover does not include:-

  1. Sales of capital assets;
  2. Sales made in the course of winding up your business; and
  3. Sales made in the course of a permanent diminution of your business.

Net tax is calculated after subtracting your tax credits from the output tax payable on your turnover of sales. Any positive amount of net tax for a particular tax period must be paid to the DVAT authorities within 28 days from the end of the every quarter in case of half yearly or yearly dealers or within 25 days from the end of every month/quarter in case of monthly/quarterly dealers (required to file online return).
Mandatory Tax Periods for filing return are as follows:-

  1. Yearly if turnover in the preceding financial year is equal to or less than Rs. 10 lacs.
  2. Six Months if turnover in the preceding financial year is more than 10 lacs and equal to or less than Rs. 50 lacs.
  3. Quarter if turnover in the preceding financial year is more than 50 lacs and equal to or less than Rs. 5 crores.
  4. Monthly if turnover in the preceding financial year exceeds Rs. 5 crores.

DVAT Return in Form DVAT-16 is filed within 28 days from the end of your tax period, along with proof of payment, in Form DVAT-20, of the amount due.


If a mistake or error in a return filed is discovered later on resulting in payment of  tax than the amount due, revise return should be filed within one month of discovery of mistake in Form DVAT-16 along with explanatory notes specifying the mistake or errors and must be accompanied by proof of payment of the tax deficiency.

 

Ask For This Service

 

:: Our Services ::

 


 

Explore the Site

Over View
We are providing complete accounting solutions. Visit home page for details.
About Us
We are registered with the Institute of Chartered Accountants of India.
Our Team
Ankur Agarwal, Anuj Sethi and other Professional Associates.
Services
We are providing services in finance, taxation, accounting and other allied matters.
Our Clients
Our clients include MNCís which are globally recognized industry leaders.
Contact Us
Please submit your queries at the form given here or E-mail us.

Website Designed by Elpis Techology Solutions Pvt. Ltd.