Our Services

We believe in bringing tailored solutions from our expert team to help you run your businesses smoothly.

Direct Taxes

Direct tax and regulatory aspects are significant parameters in every business decision. Tax planning plays an important part and our primary objective is to mitigate the burden of taxation within the confines of the law.

Our experience with a broad spectrum of compliance and litigation clients engaged in different business verticals, gives us a wider understanding of individual business and departmental needs.

Our key direct tax service offerings are:

Assurance & Risk Advisory

Assurance services involve the objective assessment of evidence to provide an independent opinion or conclusion regarding an entity, operation, function, process, system or other subject matter. This helps in ensuring that all regulations and standards are met, giving stakeholders confidence in the company’s operations.

Risk Advisory are checks to analyze the risk that an organization may encounter in normal course of business and to suggest for the right strategy and plan to mitigate the risk impact on the business operations and revenue.

Assurance Services includes:

Goods & Services Tax

GST is a consumption-based tax levied on the supply of Goods and services. GST was introduced on 1^st July 2017, when all other Indirect taxes like Excise, Service Tax, Value Added Tax, Octroi, Luxury Tax, Entertainment tax etc. were subsumed in it. With continuous changes in GST Law and 600+ notifications, circulars, orders from department, we have an evolving indirect taxation system in India leading to uncertainties as to the tax positions.

Our team of experts will help you in all GST Related Services, which include:

Corporate Compliances

Corporate compliance is the way that a company ensures that it is following all the rules and regulations that apply to their business. Corporate compliance cover both internal policies and procedures along with applicable government rules and regulations. The firm’s corporate law practice ensures that the client benefits from the constantly spinning wheel of tax and law. Our services in Corporate Compliance includes:

Business Consulting

Before starting up any business, there needs to obtain multiple government approvals and registrations depending upon the nature and size of business. Our firm help you in setting up business and getting registrations smoothly. Our Services includes:

Frequently Asked Questions

Who and when an entity has to register for GST?

Every entity whose taxable supply of Goods or Services or both exceeds the threshold limit has to be registered for GSTIN.

S.No	States	Threshold
For supplier engaged exclusively in “Supply of Goods”
1.	Manipur, Mizoram, Nagaland, Tripura, Uttrakhand, Meghalaya, Sikkim, Arunachal Pradesh, Puducherry and Telangana	INR 20 lakhs
2.	Rest of India	INR 40 Lakhs
For supplier engaged in Supply of Goods or Services or both
3.	Manipur, Mizoram, Nagaland, Tripura	INR 10 Lakhs
4.	Rest of India	INR 20 Lakhs

Do registered dealers have to upload sale details of unregistered dealers also in GST?

Generally, not. But required in case of inter-State supplies having invoice value of more than Rs 2.50 Lakhs.

If I register for GSTIN voluntarily though turnover is less than 20 Lakhs, am I required to pay tax from 1st supply I make post registration?

Yes, you would be treated as a normal taxable person.

A shop sells taxable & exempt products to the same person (B2C), is it required to issue tax invoice and bill of supply separately?

In such a case the person can issue one tax invoice for the taxable invoice and also declare exempted supply in the same invoice.

What's the use of different forms of return under the Income-tax Law?

ITR-1 – Also known as SAHAJ is applicable to an individual having salary or pension income or income from one house property (not a case of brought forward loss) or income from other sources (not being lottery winnings and income from race horses etc.)
ITR-2 – It is applicable to an individual or a Hindu Undivided Family not having income chargeable to income-tax under the head “Profits or gains of business or profession”
ITR-3 – It is applicable to an individual or a Hindu Undivided Family who has any income chargeable to tax under the head business or profession
ITR-4 – Also known as SUGAM is applicable to individuals or Hindu Undivided Family or partnership firm who have opted for the presumptive taxation scheme of section 44AD/ 44ADA/44AE.
ITR-5 – This Form can be used by a person being a firm, LLP, AOP, BOI, artificial juridical person referred to in section 2(31)(vii), cooperative society and local authority.
ITR-6 – It is applicable to a company, other than a company claiming exemption under section 11.
ITR-7 – It is applicable to a person including companies who are required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) (i.e., trusts, political parties, institutions, colleges).

What is the taxability of House Rent allowance (HRA)?

Minimum of the following is exempt (Not taxable/deducted from total HRA received)

Actual amount of HRA received
Rent paid Less 10% of salary
50% of salary if rented accommodation is situated at Kolkata, Chennai, Mumbai and Delhi OR 40 % of salary for rest of India.

In case of no rent is paid then exemption will be zero. Click here to calculate taxability of House Rent Allowance

Is the residential status of a person relevant for determining the taxability of the income in his hands?

Yes, the residential status of a person earning income is very much relevant for determining the taxability of such income in his hands.

Taxability of any income in the hands of a person depends on the following two things:

Residential status of the person as per the Income-tax Law; and
Nature of income earned by him.

Hence, residential status plays a vital role in determining the taxability of the income.

Are monetary gifts received by an individual or Hindu Undivided Family (HUF) taxable?

If any sum of money is received on or after 01/10/2009 by an Individual or HUF without any consideration and the aggregate value of which exceeds Rs. 50,000 during the previous year, then the whole of the aggregate value of such sum is chargeable to tax.

However, in the following cases nothing will be charged to tax in respect of any sum of money received by an Individual or HUF without any consideration if the same is received:

from any relative or by a HUF from its members; or
on the occasion of the marriage of the individual; or
under a will/ by way of inheritance; or
in contemplation of death of the payer or donor as the case may be; or etc.

Let us help 🤝 you with your taxation
& business needs!

If you’re in need of expert financial guidance and accounting support for your business, we’re here to help. To better understand your specific needs and how we can assist you, please take a moment to fill out our query form.

Our team of experienced Chartered Accountants looks forward to hearing from you and working with you towards your financial success.

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