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TAXATION

TAXATION

Taxation responds well to good planning and control as any other business cost. We believe that all clients are different and need customized tax strategies. These strategies ensure that liabilities are known in advance and that maximum benefit is made of allowances and relieves.

Services we can provide you are:

Tax Compliance
The Indian tax system continues to grow increasingly complex with self-assessment bringing only more pressure to bear. We aim to ensure that our clients submit correct tax returns on time, avoiding penalties. Advance notice of rules and deadlines is our watchword and notification of liabilities, payment dates and amounts naturally follows. Additionally, we handle all Inland Revenue enquiries and negotiating with the Revenue where necessary.

Tax Planning
Our tax planning operation cuts right across the main Indian tax codes which is to say Income Tax, Wealth Tax, Service Tax, Value Added Tax (VAT) and the like. Different clients require individual tax planning strategies. We are skilled in advising across the spectrum of situations arising regularly or as one-off transactions.

Tax Mitigation through Structuring
In countries with high exchange control restrictions and personal and company tax rates, clients may wish to consider trading outside their host country. Maximum advantage has to be taken of the different tax rules between the client’s host country and the India to ensure that all due benefits were exploited.

Such inter-jurisdictional tax matters call for expert tax advice obtained in several countries. In addition, we are able to assist the client to co-ordinate and plan their future wealth retention in order to minimize direct taxation on personal income and capital.

Trusts
The use of a family or individual trust can be a valuable financial or tax planning tool. Using trusts for non-domiciled but resident individuals, or for the transfer of family businesses to the next generation without complete loss of control, or for asset protection, is often very effective. At Singhi Chugh & Kumar we advise on the formation of suitable trust structures.


VAT
The first impression of VAT is that it is a simple tax to handle but behind the apparent simplicity lurks complexity beyond the wildest imagination. The unwary can become trapped in its intricacies. Hardly surprising than that, this labyrinth of law leads to inaccuracies in returns and the penalties that flow from them.

In any business deal or start-up you need to consider the VAT consequences. To avoid the sting of retrospective charges and penalties it is essential to obtain comprehensive VAT advice. Singhi Chugh & Kumar is committed to minimizing VAT costs to clients, offering skilled advice on registration, compliance and planning.

Service Tax
Service Tax is one of the new taxes introduced by the Government in their efforts to to bring under the tax ambit a largely unorganized sector of service providers. With our team of young and energetic chartered accountants we bring to your table a whole gamut of services under the service tax. The service tax is not just about charging tax on you invoice but also about availing benefits from credit availment on input services or refund in case of export of services. We at Singhi Chugh and Kumar provide you all the solution Be it compliance related or advisory nature we with our team of experts can help you fulfill all your service tax related requirements.

 

 

                                        

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