Direct Tax

Indian tax legislative and judicial environment is constantly evolving, along with globalization, economic shifts, and operational adjustments. Businesses are faced with a tax regime with greater complexities and challenges, nonetheless moving towards a globally cohesive tax world. Now, more than ever, businesses must have an ongoing system for adapting to and staying on top of these complex changes.

Some of the recent developments in Indian taxation regime include alignment with proposals under the Base Erosion & Profit Shifting (BEPS) Project, introduction of the General Anti-Avoidance Rules (GAAR), code for taxing gains on indirect transfers, re-negotiation of tax treaties, Income Computation & Disclosure Standards (ICDS), change in tax residency conditions by introducing the Place of Effective Management (PoEM) concept, etc. to name a few.

Further, the Indian government has gradually reduced corporate tax rates. The emphasis is now shifting towards enforcing compliance and expanding the tax base with e-governance and digitisation gaining importance. Taxation is also used as a tool to promote investments in identified industry sectors, thereby spurring overall economic growth. As such, understanding the impact of developments in tax and regulatory aspects and strategically using them to the benefit of Indian business activities is becoming increasingly important.

Our national network of experienced tax professionals can assist in resolving various challenges such as keeping abreast with tax regulations, efficiently manage compliances, address uncertain tax positions, among many others. They will provide you with an insight into how to best work with the taxman to meet your business needs.

Our multi-disciplinary tax teams help you in corporate tax advisory compliance, and building an overall tax strategy

Corporate Tax Advisory

Corporate taxation is an essential aspect of doing business in India and its importance cannot be undermined.

  • Establishing tax and operationally efficient  Indian business presence if you are an MNC
  • Setting up business in the country if you are an Indian entrepreneur
  • Expanding into new business sectors
  • Planning a heavy capital outlay in the existing business
  • Addressing concerns about cash flow and examining tax inefficiencies
  • Ensuring that your tax function is aligned with your business plan
  • Assessing the impact of any tax and regulatory changes/ amendments on your business

We can help you develop tax-efficient strategies and manage your tax exposures considering your individual business needs. We will keep you abreast of new developments in the Indian corporate taxation arena that affect your business. Our services include the following:

  • Entry strategy from a tax and regulatory perspective
  • Choice of an appropriate form of entity to set up Indian business activities
  • Assistance in entity set up, registrations with the tax authorities, etc.
  • Conceptualising income tax positions and implementing the same
  • Help resolve uncertain tax positions
  • Optimum use of corporate tax incentives in proposed business activities
  • Strategies for profit and dividend repatriation
  • Impact analysis of recent developments like BEPS, GAAR, PoEM, ICDS, etc.

Tax Compliance

As the complexities of businesses increase, the amount of time spent by professionals in cracking up the law codes increases. However, tax and regulatory systems of even the most developed countries cannot keep pace with the developments across each industry as businesses emerge day by day. These also bring out the requirements for new compliances and the challenges of meeting them every single day. More detailed Income Tax Return forms including disclosures on tax residency certificates and details of foreign assets, and higher penalties for non-/erroneous disclosures require businesses to gear up for efficient tax compliance. Are you there?

  • Tax implications on payments (local or overseas) to a host of parties
  • Addressing your concerns about effective compliance of withholding tax requirements
  • Reporting of multilayered tax issues
  • Addressing questions from taxmen, including treaty applicability
  • Defending your stands before taxmen
  • Curtailing a significant litigation history
  • Defending a tax authority challenge

We can assist you with the following:

  • Advising on withholding tax obligations on payments
  • Obtaining no-objection certificates
  • Assisting in filing various tax returns and making adequate disclosures
  • Representation before the income tax and withholding tax authorities
  • Providing corporate tax litigation assistance, including representation services 
  • Obtaining advance rulings and opinion from senior counsels
  • Tax diagnostic reviews
  • Enhancing ERP systems to meet tax management requirements
Rahul Garg
Tel: +91 124 3306515