Direct Tax Advisory & Compliance

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Today's dynamic environment has led to extreme competition in India, and now business needs the right tax advice because it is an important part for any business. Business entities have realized the effect and the importance of taxation income, filing of return and its related cost with efforts to minimize the tax incidence to enable them to provide the much-needed edge over competitors and to meet challenges in a dynamic business environment.

Direct tax advisory is necessary for every business because it needs regular updation of new amendments and it is not possible for every business to having regular update on these amendments, so they need the advisory & strategic consultancy for that who keeps themselves updated with the new amendments.

Accounting Forte provides Direct Tax advisory and compliance service on various financial aspects and having in-depth analysis in the respective fields to keep themselves updated with the new amendments. These are the extreme complex service and need experts and professional skills; Accounting Forte has a team of expert consultants, who carve practical strategies for these services and have a great knowledge on these services to make the assessment of business enterprise.

The following services are:-
  • Advisory & Strategic Consultation
  • Statutory Compliance Assistance
  • Refund Under Direct Tax
  • Transfer Pricing
  • Expatriate Services at Accounting Forte
  • Above- or below-market leases

Income Tax and Wealth Tax are the two main components of Direct Taxes. Government imposes Income Tax on the financial income generated by the individual or entities. Income tax is a term that ruins the peace of mind. As we witnessed the changes in Tax Policies over the last two decades, it becomes very difficult for every organisation to do tax planning. If we view changes then it is done in respect of Tax Accounting, Deductions, Special Schemes, Cross Border Transactions and Provisions of DTAA. Tax Policy not only set the complications but also make difficult to do business in such uncertainties.

As the business environment is expanding it horizons, the decision on the same also going complicated and attracted implications. We at Accounting Forte, brings solutions that will assist organisation to understand the economic reforms by which Tax Uncertainties are arising. Our Advisory not only includes Tax Accounting but also its associated risk. Our team is promising on updation to such changes and keeps clients informed and well updated so that the effective management decisions could be taken. Accounting Forte with its professionals provides unique methodologies, helps to build strong compliance and reporting structure and effective tax management.

How much is the business worth?
It is very hard to evaluate any business. However, there are different methods to evaluate the business like: financial statement based method, mixed method, etc. Our team of experts and valuation executives performed valuations on considering many aspects and factors, which are crucial in the valuation process. However, we also use some of the keywords to evaluate the business like value, price, cash flow, equity, etc.

India has a well tax structured country with a three-tier federal structure, comprising the Central Government, the State Governments and the Local Bodies. The power to impose taxes and duties is distributed between the three tiers of Governments, in accordance with the provisions of the Indian Constitution. As in India, the tax complications often end up with assessments on organisation and to get over on this corporate are outsourcing their statutory compliance work. Tax compliance includes statutory reporting, monitoring tax provisions and their implications.

Accounting Forte helps you in preparing and filing of the various legislative returns and documents with the revenue authorities periodically. An overabundance of paper work is involved in filing several tax returns on quarterly, half - yearly and yearly basis. It is always a very difficult and lengthy process to be complied with regularly and punctually. Failure of compliance resulting heavy penalties and even prosecution in certain cases.An elaborate figure has to be obtaining from the book of account of the company/ firm/ individual to fill in the returns entailing huge amount of knowledge and labour.

Tax planning has never been an easy task, in the recent past years, India has seen certain big tax policy changes such as taxation of indirect transfer of Indian assets in overseas deals, GAAR , tax accounting standards, each with its own set of difficulties and subsequent impact on the business.

With uncertainty comes opportunity, but the key thing is to prepare now. You need to recognize the several scenarios and their implications, so that you have plans ready to perform and implement on desired time. Refunds under direct tax laws generally arise when due to tax provisions assessee have to deduct tax before making payments and tax on income filled in return is less than the tax deducted, in such cases refunds arise. We help our clients in follow-ups with tax authorities and filing of returns to get Tax Refunds due to them from the authorities. Accounting Forte plays an important role for providing the refund under the direct tax law. Our team of Tax and Regulatory Services Practice has important expertise in domestic and global tax matters.

Transfer pricing is the price or rates, which are used on the goods and services transactions between a parent company and a subsidiary company, or between company departments and divisions or even between the related parties as specified in different statutes. The pricing is set for exchange purposes and sometimes the rate is reduced due to some internal policies, depressions, pressure or some other purposes. It often helps management to manage efficiently the profit and loss ratios within the company. Generally, it is considered a relatively simple way of moving goods and services between the overall corporate families.

Accounting Forte is offering Transfer Pricing services to corporate with effective solutions. Our advisory and assistance help corporate in Transfer Pricing Compliance in a way that effective Pricing can be determined for all international transactions or specific domestic transactions with its related enterprises / group companies in India. Our team of consultants help in business decision making at various phases of inter-company transactions i.e., policy making, planning, deciding whether go for an Advanced Pricing agreement, implementation, documentation & compliance and protecting before the revenue appellate authorities. Our firm keeps aware to our clients about the new policies and the regulation introduced in transfer pricing in India.

Accounting Forte understands the need to approach the transfer pricing norms (regulation and certification) in a much-customized way that gives important inputs to the management to help their decision-making. Our Transfer Pricing professionals give complete solutions tailored to business objectives after profiling the correct nature and the scope of the transactions.

Expatriate in transit form is an employee who changes residential status due to employment. It marks unique challenges on them to comply with tax laws and regulatory requirements of both countries. Here in India, employee tax planning is necessary to avail different benefits under the Income Tax Law. We need qualified professionals who can understand the requirements while planning and filing for expatriate. At Accounting Forte, we are offering a complete pack of services. It includes:-

  • Advisory Services
  • Compliance & Assurance
  • Income Tax Return Filing
  • Salary Structuring(for maximum benefits)
  • Assessment Assistance & Representation Services

We ensures smooth transactions and expatriate should not face any tax compliance problems. We are giving consultancy on tax reviews, investments and tax clearance so that tax liabilities of expatriates could be optimized. Accounting Forte has a team of expert consultants, who assist in providing Expatriate Taxation Services to Expatriates. We also have different pay packages for SME and Large groups in India so that they hassle free they international operations.

Over the last decade, Fiscal Deficiency are emerging and giving rise to challenges on Revenue Authorities. In addition, the pressure is directly on the authorities and as a result, huge increments in assessments, special audits and disputes are prime challenge for the corporate world. In India, mostly all the areas of tax have created a surge in audits and assessments.

Accounting Forte's tax professionals assist corporate in efficient tax management, resolving tax issues, special audits. We have professionals who are specialist in handling area of dispute. We have deep knowledge and rich experience in assessment assistance with strong relationships with government officials for representation services. Our team will assist you assessment, representation services and other related disputes with the government authorities of India. Our Service also includes:-

  • Drafting, Preparation & Submission of Appeals/Letters to appropriate authorities
  • Representation Services before Tax Authorities, Authority of Advance Rulings, Settlement Commissioner
  • Advisory on Assessment Proceedings
  • Advisory and Appropriate Support on Litigation Strategies
  • Assessment Assistance & Representation Services

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