Taxations

We take care of complete Income Tax & Wealth Tax such as Income from Salaries, Income from House Properties, Taxation of Charitable Organisations, Taxation of Partnership Firms & Limited Liability Partnership, Taxation of HUF, Income from Capital Gains, Income from other Sources etc.

GST vs INCOME TAX

GST is a consumption based tax levied on the sale of a goods or service. Hence, GST is applicable for everyone purchasing a goods or services in India at the same rate. Income tax is levied based on the income of a person. If a person does not have any income in a year, then income tax need not be paid. Income tax is applicable only when there is income above a certain limit fixed by the Government.
We at Sawant Associates are ready with all problem solving solutions starting from Registration to filing GST Returns. Just a call and our experience team is ready to resolve your statutory requirement.

DIRECT TAX

Direct tax is the tax that is paid directly to the government by the persons on whom it is imposed. It cannot be shifted onto others. The best examples of direct taxes are Income Tax and Property Tax. Direct tax is often accompanied by a tax return filing by the taxpayer.

Tax Consultancy Services for our Clients

We undertake Direct Tax services for our clients. Our tax services for our clients includes:

• Day-to-day tax matters right from registrations and replying to various tax notices and providing necessary tax support on regular tax matters. Tax compliance that includes advance Income Tax, calculations and deposits, TDS compliance and filing of returns.
• We provide all information to statutory or management auditors in relation to tax matters. We also guide in the compilation of Corporate Tax returns such as Income Tax, Wealth Tax, and also its e-Filing with the revenue department.
• We provide support in the areas of PAN, TAN and online tax credits view also. Management of tax records and reports in both soft and hard files.
• We provide tax reporting on defined frequencies such as monthly, quarterly, annually to Parent Company according to their formats.
• Compilation and Representation of Various details for Tax Assessment purposes such as Scrutiny and Appellate level for Income Tax. Any line for the Trust & Society Tax payment and follow-up.

Personal Taxation Consultancy Services

We offer personal taxation consultancy services like personal tax planning, personal tax consultancy services, tax compliance and advisory services that cover the following:

• We guide in getting various tax registrations that includes Permanent Account Number (PAN).
• Personal Tax Consulting and Services Compliances that includes compiling and filing of Tax returns. We provide review and assistance in Advance Tax computations.
• Advisory on tax issues like capital gains/ loans/ tax Investments etc. Management of tax records in soft and hard forms.
• Representation before the Tax authorities related to tax assessments, refunds or other matters.

Tax Representations

We undertake tax representations before the Revenue authorities for Tax Assessments of Income Tax cases and many other such tax matters.

Foreign Remittance Certifications

We also undertake consultancy and certification services required for making foreign remittances according to the provisions of section 195 of the Income tax Act, 1961 or as per Double Taxation Avoidance agreements (DTAA) as per the guidelines of Reserve Bank of India (RBI). The services of this category broadly include:

• We offer expert suggestions on the applicability of Withholding Tax on various foreign remittances as per Indian Income Tax Act / DTAA.
• We guide in matters of issuing Foreign Remittance Certificates under the various provisions of the Income Tax Act, 1961. We guide in the Royalty and Technical know-how workings as per Reserve Bank of India (RBI) guidelines and formats and withholding the tax certification on such remittances.
• We help in seeking of certificates from the International taxation department for non/lower deduction of tax at source (TDS).
• Representations before International taxation authorities regarding matters arising out of withholding tax on foreign remittances. We also help in other documentation and remittance support and dealing with authorized dealers regarding foreign remittances.

INDIRECT TAX

An indirect tax is the tax collected by an intermediary from the person who shall bears the ultimate economic burden of the tax. It in fact increases the price of goods so that consumers are actually paying the taxes by paying more for the products. The examples of indirect tax are Service Tax and value added taxes (VAT). Here, the intermediary later files a tax return and forwards tax proceeds to the government with the return. As indirect tax consultants, Ours services are as follows :

Sales Tax Consultancy

• We guide and assist in getting registrations and advice on the applicability and levy of Central tax and State Sales tax laws.
• Provide assistance in the structuring of transactions and agreements in relation to inter-state and intra-state sales in order to make the tax incidences to the minimum.
• Conduct comprehensive Sales tax health-checks and also studies to ensure that the appropriate advice is given in setting up business locations to minimise Sales tax incidence.

Service Tax Consultancy

• We provide advisory services with regard to applicability of the tax and procedural compliance like registration, assessments etc.
• We help to review contracts and agreements to help mitigate the overall incidence of Service Tax.
• We help in conducting Service Tax health checks to determine the Service Tax implications on client operations, gauge compliance with legal provisions and also suggest tax planning opportunities to our clients.