Income Tax

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CA SANDEEP KHANDELWAL

+91-9810902950
skhandelwal@mnrsindia.com

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Government worldwide uses direct taxation as an effective tool for fiscal management. Various deductions and exemptions in taxation are used as a tool to promote investments in identified industry sectors and geographical boundaries thereby spurring overall economic growth of a country. The Indian Taxation system has also undergone several reforms to keep abreast of the evolving economic environment both nationally and internationally. On one end the government aims to collect tax responsibly for the benefits of its citizens, on the other end the tax payers always look for ways to minimise their tax burden in order to accumulate wealth for safeguarding their future. While effective tax planning can result in significant tax savings, the violation of tax rules may result in hefty penalties and coercive actions from tax authorities. Today’s tax planning blends technology and business acumen to focus on consistency, compliance and the organization’s strategic objectives.

How Can MNRS Help?

We intend to adopt ‘result oriented approach’ which help our clients attain the desired goals efficaciously and sagaciously & minimizes their tax burden while in sync with law. Our Taxation vertical offers a wide range of services (direct & indirect) that aims at value creation & risk mitigation. Our team of professionals interacts with clients to evolve tax efficient solutions, and make them aware about tax & regulatory compliance. MNRS keep its clients in sync with new developments in the taxation arena that affect business by rendering following services:

  • Entry Strategy formation from a tax and regulatory perspective.
  • Suggesting an appropriate form of entity for setting up business activities in India.
  • Analysing tax incentives in proposed business activities.
  • Identification of tax exposures and planning for tax efficiency.
  • Tax planning strategies for profit and dividend repatriation.
  • Filing annual Income Tax Returns and tax optimization.
  • Guiding on all applicable Withholding Tax (TDS), Tax Collected at Source (TCS) etc.
  • Handholding in Tax Compliance including preparation & filing of TDS/TCS Returns.
  • Advisory on managing international affairs viz. a viz. Indian Taxation Rules.
  • Advising on salary structure of expatriate employees.
  • Advising on withholding tax obligations on payments.
  • Securing advance rulings and bringing certainty in matters that may give rise to tax disputes in future.
  • Securing Income Tax Clearance Certificates.
  • Representations before tax authorities for assessment and appeals proceedings.
  • Certification work including the issuance of various certificates.
  • Diagnostic tax reviews to check financial health of the organisation.
  • Disclosure of Foreign Assets and Liabilities as desired by law from time to time.