Corporate Tax

Khandhar Mehta and Shah | Corporate Tax Services

Corporate Tax

A direct tax imposed on the income of the company is called a corporate tax.

Our team includes expert corporate tax consultants with rich experience in corporate tax and the related regulatory matters. We provide corporate tax services including, tax planning, tax compliance, tax returns filing, advisory services, and representation and litigation services in income tax matters faced by companies. KMS's insightful corporate tax consulting services address your corporate tax-related issues and challenges and give you the much-deserved peace of mind. Our technique to having satisfied clients is through a holistic approach of providing corporate tax advisory services starting from an understanding of the business of the client to filing returns and handling the litigation matters. We go through each step, supporting the clients from start to finish to ensure the planning and implementation of effective corporate tax strategies.

The corporate tax clauses mentioned in the Indian Tax Laws are complicated and trying for an ordinary person to understand and apply. In addition to the tax payments, there are other concerns of strategic tax planning, satisfactory compliance with tax authorities, and accurate financial reporting of taxes, all of which require a profound understanding of income tax act 1971, and related rules and regulations. Whether a company is a first-time taxpayer or a long-time taxpayer, it can immensely benefit from our business tax advisory services.

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Our corporate tax services

Our range of corporate tax services for our clients include the following:

CORPORATE TAX PLANNING

As corporate tax advisors and consultants, we provide our clients with all the corporate tax planning and advisory services. We assist the companies in tax planning by identifying all the possible opportunities to save their money under the legal ambit. We keep ourselves abreast of all the available deductions, allowances, exclusions, etc. in the law. Using these available options along with an analysis of the financial conditions of the company, we make a sure shot tax plan for our clients to deliver maximum tax efficiency. We provide our extensive tax planning services in planning the expenses and capital budgeting.

PRE-TRANSACTION ADVISORY

Corporates must understand the correct tax implications and perform a risk assessment before entering into a transaction. We provide pre-transaction advisory services to our clients so that they can know various tax implications, including incentives and reliefs before they commit to the transaction. Our team of corporate tax consultants has worked with multiple industries, and it provides industry-specific corporate tax consultancy services.

TAX HOLIDAY PLANNING

Tax holiday means relief from paying taxes for a specified duration for the specified industries as per the tax provisions of India. It enables businesses to manage their survival or growth, which will eventually lead to more taxable revenue for the government in later years. Our team of corporate tax consultants look for any such possible opportunities for our clients and tap them to get benefits.

Compliance

We have a team of corporate tax experts with sound business acumen who advise clients on corporate tax compliance matters.

TDs

The provisions of TDS are very rigorous, and non-compliance to these provisions may lead to severe consequences. In case of non-deduction of TDS, non-payment of TDS, or default on any of the TDS compliance laws, leads to high interest and penalties. Our diligent team of tax experts ensures that our clients comply with these provisions to avoid penalties and interest. Our TDS compliance services include calculation/deduction/collection of TDS at correct rates, timely deposit, accurate reporting of TDS, submission of TDS returns within the due dates, verification, and issuance of TDS certificates within time, corrections, payment of fees/interest amounts, and management of deductor's accounts to take appropriate action.

Corporate Tax Returns Filing

Companies have to file their tax returns in form number ITR 6 or ITR 7 as applicable, on or before September 30 every year. Further, a specific class of companies is also required to get its accounted audited and submit an auditor's report along with the tax return. The job of filing income tax returns is best left to our corporate tax consultants. KMS's team of business tax experts provides the required expertise in the calculation of tax liability of the business. We remain associated with the company throughout the year to be aware of the kinds of business operations carried out that affect the tax calculations. We assist all kinds of businesses – be it a private limited or public limited company in the successful filing of corporate tax returns.

eTDS Returns Filing

When a TDS deductor deducts tax at the time of making payment to the payee, he is also required to file a TDS return. The Income Tax Department in India makes it compulsory for the deductors to submit the quarterly TDS returns on time. Our team of corporate tax consultants ensures that our clients are not left behind in filing these error-free e-TDS returns.

Representation & Litigation

Being corporate tax consultants, we handle all the representations before revenue authorities and tribunals for income tax matters and the litigation diligently.


REPRESENTATIONS TO CBDT

The Central Board of Direct taxation is a statutory authority that administers the direct tax laws in the country. Our tax litigation experts enable our clients to deal with the representations before CBDT in a smooth manner without any glitches. We prepare all the documents in the best possible way as required by the authorities and give our full time and support in making the documents and representing before the CBDT.

REPRESENTATIONS BEFORE ITAT

Income Tax Appellate Tribunal is a quasi-judicial institution that specializes in dealing with appeals under the Direct Tax Act. KMS's tax litigation experts help clients in filing appeals on behalf of the client. We deal with the entire process of submitting the appeal along with the proof documents within the deadlines and give full support to the client in dealing with the additional requirements.


REPRESENTATIONS BEFORE ITAT

Income Tax Appellate Tribunal is a quasi-judicial institution that specializes in dealing with appeals under the Direct Tax Act. KMS's tax litigation experts help clients in filing appeals on behalf of the client. We deal with the entire process of submitting the appeal along with the proof documents within the deadlines and give full support to the client in dealing with the additional requirements.

STRATEGIES FOR LITIGATION

Litigation on tax matters is a frightful event, and companies run far away from it. It looks like a never-ending process with too much paperwork. Our corporate tax consultants adopt a proactive approach along with a well-developed strategic plan to solve these issues. The expert litigation team at KMS develops and implements strategies for quick resolution of problems, and it is proficient in dealing with all kinds of litigation.


STRATEGY OF LIMITATION

Litigation on tax matters is a frightful event, and companies run far away from it. It looks like a never-ending process with too much paperwork. Our corporate tax consultants adopt a proactive approach along with a well-developed strategic plan to solve these issues. The expert litigation team at KMS develops and implements strategies for quick resolution of problems, and it is proficient in dealing with all kinds of litigation.

SUPPORT FOR LITIGATION AT HIGH COURT AND SUPREME COURT

Our range of litigation support services include assistance to the clients in preparation and representation of corporate tax-related cases before the High Courts and Supreme Court of India. If the cases remain unsolved, we assist the clients in advance rulings. Our litigation experts have the required business acumen of adopting a range of other preventive measures and alternate dispute resolution strategies if needed.


SUPPORT FOR LITIGATION AT HIGH COURT AND SUPREME COURT

Our range of litigation support services include assistance to the clients in preparation and representation of corporate tax-related cases before the High Courts and Supreme Court of India. If the cases remain unsolved, we assist the clients in advance rulings. Our litigation experts have the required business acumen of adopting a range of other preventive measures and alternate dispute resolution strategies if needed.

Our Strengths

Why you should employ KMS for your corporate tax advisory services

We keep track of all the changes in corporate tax laws and regulations to provide you timely and efficient corporate tax consulting services.
Our knowledgeable professionals spend a great deal of time to provide you valued advisory services on tax planning opportunities to reduce tax incidences. We also offer our support and assistance in corporate tax compliance and returns filing.
We determine comprehensive strategies for our esteemed clients after understanding their industry, geographical jurisdiction, and business ecosystem to maximize value and reduce business tax expenses.
Our team’s attention to detail, efficiency, and increased understanding of tax compliance exposures and elucidations enable us to ensure our clients’ compliance with the required corporate tax laws and policies.
We have a team possessing a national and international firm experience, with practical exposure to dealing with all kinds of corporate tax-related concerns and disputes. Our commitment to accuracy, timeliness, and value-driven services ensures that the client is never disappointed.
Our corporate tax consultants also provide their expert opinion on matters related to transfer pricing and help you carry on your business operations with confidence.

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frequently asked questions(faqs)

The objective of all three methods is to reduce tax liability, but the means of achieving that is different in all three cases. Tax planning is reducing the burden through various deductions and exemptions under the various provisions of the tax laws of the government. Tax avoidance means benefitting from the loopholes of the tax laws to reduce the tax burden. Although tax avoidance is legal, it defeats the very intent of the legislature by entering into transactions to avoid taxes. Tax evasion is an illegal way of resorting to various types of deliberate manipulations to show the income as lower than the actual. Inflation of expenses and deflation of income are the conventional ways of tax evasion.
MAT – Minimum Alternate Tax – is imposed as a tax under the Finance Act of 1987 to ensure that companies pay a minimum amount of tax to the government, even if the companies have zero or negligible income. Under MAT, even the loss-making companies are liable to pay corporate tax to the government, an amount calculated as a percentage of their book profit as taxable income.
GAAR means General Anti-Avoidance Rules. These rules came into effect in India on April 1, 2017. It is a tool used by the revenue authorities to check for aggressive tax planning that includes transactions/business arrangements, which do not have any commercial consideration but are entered into to avoid tax.