Every business needs a sustainable tax planning to strategize and achieve its growth potential. We can advise on the tax planning and also assist in the various compliances and reporting, as well as in the filing of the tax returns.


Corporate and Business Taxes

The Tax environment is becoming more complex and complicated in India. The Direct Tax Code, which is trying to replace the very comprehensive Income Tax Act, 1961has already been introduced in the Indian Parliament. This is a complex legislation, and proposes several drastic changes to the levy of Income tax. Most Companies will have to plan their activities in advance to meet the challenges arising out of the introduction of the Direct Tax Code.

With the Tax holiday for STP units having been removed with effect from April 1, 2011 and with MAT being introduced on STP units, most exporting units are now squarely coming under the tax net. Handling Direct tax requirements could emerge as a major issue for such corporates, and will require professional help and guidance.

The focus on tax assessments is gradually shifting from micro issues (such as procedural disallowances) to reviews based on issues and concepts. Given the legal labyrinth that assessees often face, a judicious cost-benefit analysis is imperative in deciding on the issues worthwhile to litigate and those that are more viable to concede.

We can handle the direct taxation requirements of Corporates on a completely outsourced model and help and guide the clients with a wide range of services, including Preparation / review of Corporate tax returns, Seeking advance rulings, Tax litigation support etc.


Transfer Pricing

All International related party transactions are subject to transfer pricing regulations in India. The main objective of this legislation is to curb unfair trade practice to avoid income tax in international related party transactions.

In terms of Chapter X of the Income Tax Act, 1961, every assessee needs to substantiate that income arising from any international transactions (as defined) with its associated enterprises (as defined) have been computed having regard to the arm's length price. The tax regulations also specify the precise methods to be followed to substantiate such arm's length price apart from prescribing elaborate documentation to be maintained.

All transactions with international related parties need proper planning, extensive documentation to support the pricing / costing of the transactions, training of the employees in handling such transactions to avoid any future liability. Scope of Transfer pricing rules is wide enough to cover even related party of the international related party.

We can assist the client by providing various services under this category, like -

  • Transfer pricing documentation
  • Transfer pricing studies and analysis
  • Representation before the tax authorities
  • Transfer pricing litigation support
  • Training of employees in handling international related party transactions
  • Transfer pricing advisory services

Tax Returns

We offer end-to-end tax returns processing services to our clients, with consistent quality and ensuring guaranteed turnaround time.

Services for our Domestic Clients

We have our exclusive Domestic tax division, JUST FILE, which specializes in providing the much needed help and assistance to individual tax payers, by taking care of their tax planning and structuring of their investments, as also filing their individual income tax returns. Assistance is provided in the following areas -

  • Application of Permanent Account Number (PAN)
  • Computation of Income tax and advice on Advance taxes and Self Assessment Taxes
  • Preparation and filing of Income tax Returns (Online and Offline)
  • Assistance in acquiring the Digital Signature Certificate (DSC) for online filing of Income tax returns by certain class of assessees
  • Assistance in replying to any queries from the Income tax Department as well as for following up on refunds due
  • We also help Corporates in assisting their employees to file their individual Income tax returns. For this, we visit the various corporates and collect the income tax returns of their employees, file the same with the Department and reach their individual acknowledgements back to them.

Services For Our International Clients

  • Act as a back office for overseas Chartered Accountants and Tax Consultants by assisting them in compiling and completing the tax return preparations of their clients.
  • We prepare and review the tax returns, upon receipt of the base documents from our clients.
  • The completed return, work papers, notes, reconciliation sheets and other related documents are then scanned and sent back to the client.
  • Our tax outsourcing service methodology provides Tax service providers of almost any size with an efficient way of Handling their tax compliance workload and meeting the time deadlines.

Our Key Strengths:

  • Cost effectiveness.
  • Reliability and accuracy.
  • Utmost confidentiality of the data

Indirect Taxes

The Indirect tax regime in India is a labyrinth of various laws and regulations, both Central and State specific. The Government of India is also working on the Goods and Service Tax regime.The GST proposes to merge Central indirect taxes such as Central Excise duty and service tax with taxes such as VAT, which is levied by the State.

Not withstanding these developments, the legislation governing Service Tax has also been undergoing major changes, including several measures aimed at restriciting the availability of cenvat credit. More complexity is being injected to the Service tax area with the continuous inclusion of new services and the very large number of heads of services being covered by the tax net.

Major companies including MNC's might find it very difficult to comprehend the various laws and rules, related to Service tax, Central Excise, Customs, VAT, DGFT, etc. and to keep track of the day to day changes that are happening in this area.

SOS, with its wide experience, in-depth knowledge and professional skills, can help the clients in effective planning, thereby helping in cost minimization. We also assist our clients in making representations to the relevant authorities such as the Director General of Foreign Trade, Department of Revenue, Central Excise and Customs for obtaining concessions and relief.

We provide assistance and help in all the aspects of the various indirect taxes, right from securing the registrations under the various tax laws, preparation /review of periodical returns, reconciliations of the returns with the accounts, interacting with the Departments during assessments, etc.