Direct tax is an important part of the Indian tax structure impacting various persons including individuals, corporate, partnerships, and others.
- Representations & Litigation Support including assessments & appeals.
- Direct Tax Planning, Advisory and Opinion.
- Tax Due Diligence.
- Transfer Pricing.
- Statutory Compliances including under Income Tax.
- Compliances for Religious and Charitable Trusts.
As the name suggests, direct taxes are those that are levied directly on taxpayers and paid directly to the government such as Income tax, for example, I have earned a salary of INR 2,50,000, now it is my sole responsibility to pay income tax on the amount which I have earned during the financial year, it is a type of tax where the impact and the occurrence fall under the same category. A direct tax may not be passed on to another person or entity but must be paid by the person responsible for the tax.
Direct Taxation Is Divided Into The Following Categories:- #
Income Tax Income tax is paid by an individual based on his/her taxable income in a given financial year. Taxable income alludes to total income earned in a year minus applicable deduction and exemptions.
Corporate Tax Corporation tax is paid by the companies registered under company law in India (Companies Act 2013) on the net profit that it makes from businesses.
Capital Gain Tax It is a form of direct tax that is paid due to the income that is earned from the sale of assets or investments.
Following Are The Services Jha Associates Provides With Respect To Direct Taxation: #
- Income tax Return :
- Individual Income tax return
- Corporate Income Tax Return
2. Application for Lower/Nil withholding Tax under section 197
3. TDS /TCS return Filing on Quarterly basis
4. Responses to various Notices under Income Tax Act
- Notice under section 139(9)
- Notice under section 143(1a)
- Notice under section 143(2)
- Notice under section 148
5. Transfer Pricing
