Tax and Legal

In India, indirect taxes form a significant proportion to transaction cost. It is, therefore, critical to factor in such tax costs upfront and through appropriate planning, reduce the costs to the extent possible. Indirect taxes are applicable to activities that span from manufacturing to final consumption, including distribution, trading and imports, as well as services, thereby impacting all types of businesses. We offer comprehensive advice and assistance in the areas of indirect taxes specially Service Tax and VAT. All this is backed by litigation support at every stage.

• Structuring of contracts/transactions to optimize indirect tax incidence.
• Formulating indirect tax efficient business models.
• Conducting VAT impact assessment studies.
• Undertaking comprehensive reviews of business operations.
• Conducting indirect tax specific due diligence reviews.
• Advice on classification, valuation, applicability of taxes on transactions and admissibility to tax benefits/exemptions.
• Opinions on indirect tax issues.
• Identification of innovative tax planning opportunities.
• Indirect tax compliance support/outsourcing.
• Single point contact & centralized coordination for tax payments, filing of returns & compilation of documents.

We assist our clients in achieving compliance required by Corporate Law applicable to the company.

• Formation of new company including obtaining name approval, drafting Memorandum and Articles of Association.
• Share holders Agreement.
• Registration of charge on assets.
• Secretarial services like preparing minutes of meetings, Members Register, Transfer Registers etc.
• Filing of Annual Returns, Annual Accounts, other forms with The Registrar of Companies.

With the globalization gaining momentum and India becoming a popular business destination for the world, many multinational Companies who have set up their business operations in India, Non-Resident Indians who have invested their wealth in India and also Indian Entrepreneurs? who have made overseas investments in various countries are getting exposed to dual taxation viz. in their home country as well as their income source country.

In such a dynamic business environment, professionals have to be updated with the latest development on international tax particularly with regards to the Double Tax Avoidance Agreements with various countries.

We strive to keep ourselves abreast with all the legal case laws, Advance Rulings, Treaty interpretations etc. to be able to guide our clients to a pragmatic solution and non-litigant path.

• Advising on tax strategies to optimize tax incidence through a detailed assessment of:
  • Implication of various court decisions and Advance Rulings.
  • Double Tax Avoidance Agreements entered into by India with various countries;
  • Tax incentives and tax holidays.
• Tax planning for Non-Resident Indians, overseas entities desirous of setting up their business operations in India and also for the Indian entities desirous of setting up an overseas business set up.
• Assessment of residential status, possibility of triggering the Permanent Establishment clause. Representation before various tax authorities for assessments, refunds, appeals.
• Preparing, review and filing of tax returns.
• Analysing and Advising on the applicability of withholding taxes (TDS) particularly with reference to the payments in the nature of Salaries, Royalties, Fees for Technical services, Dividend etc.

With the significant liberalization of foreign policy and considerable pace with which the Indian economy is growing, India has become a favourite destination for the overseas entities to set up their business operations. The Non-Resident Indians are also showing keen interest to invest in India. On the other hand, with the globalization, the Indian entities too are looking for global destinations to set up their business operations. During last decade, the country has witness unprecedented inflow of foreign investments, joint venture agreements with the foreign entities and merger and acquisition with multinational companies.

• Inbound Investment: Advising on inbound investments in India on repatriable or non-repatriable basis, Restrictions or permissible activities under Automatic or Approval route of RBI subject to the sectoral cap, Entry strategy, Setting up of entry structure like subsidiary company or a branch or a liaison office or a project/site office. We help Companies obtain permission from the Foreign Investment Promotion Board (FIPB) or Reserve Bank of India (RBI), wherever it is required to do so. We advise on External Commercial Borrowing (ECB), Trade Credit, transfer of shares from residents to non-residents and vice versa, advising on acquisition and transfer of immovable property and obtaining necessary approvals, wherever required.
• Outbound Investments: Advising outbound investments by Indian entrepreneurs from India to various destinations out of India. We advise them on entity structure, permissible activities etc. We help them obtain necessary permission from the regulatory body for such outbound investments.
• Transfer Pricing: Every cross border transaction between the ?Associated enterprises? have to be at Fair Market Value. The Transfer Price regulations have to be followed. We carry out Transfer Price study, advice on appropriate method of application, certification, regulatory compliance and assessment.
• Regulatory Compliance:
  • Obtaining FIPB permission.
  • Business/Share Valuation Certificate.
  • Reserve Bank of India compliances as regards filing of Intimations, Forms, Returns etc.
  • Making representations before government authorities.
  • Obtaining Permanent Account Number (PAN), Tax Deduction Account Number, Profession Tax, Value Added Tax (VAT), Central Sales Tax (CST), Shop Establishment License, Import Export code, opening bank account etc.