Monthly Archives: July 2012
Direct Tax is a tax that is paid directly to the govt by the persons on whom it is imposed. It cannot be shifted onto others. The best examples of direct tax are income tax & property tax. Direct tax is often shown by a tax return filed by the taxpayer.
Under Direct Taxation we provide tax consultancy services in the following areas:
The tax services for corporate clients include:
We offer personal taxation consultancy services like personal tax planning, & personal tax consultancy services, & tax compliance & advisory services that cover the following:
We undertake Regulatory compliances such as statutory returns & documents preparations, compilations & e-filings with the revenue authorities that include the following:
We undertake tax representations before the Revenue authorities for Tax Assessments of Income tax & transfer pricing cases & any other such tax matters
Foreign Remittance Certifications
We also undertake consultancy & 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 include:
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Our experienced taxation consultants provide par excellence Business Taxation Services to the customers. We have expertise in corporate & Personal Taxation Services that includes Corporate Tax audits Under Section 44AB of the Income Tax Act 1961 of Companies, Business Firms, Proprietary Concerns, & Professionals etc. Our experienced consultants provide assistance & suggestions in tax planning(TP). They are specialized in Tax saving plans & schemes in lawfully mitigating the burden of tax & in diverse matters like E-payment of taxes & e-filing of IT Returns of various persons. Our accounts consultants assist in filing of e-TDS Returns, & Service Tax Returns, VAT Returns, & Excise & Customs. R K Kumawat & Associcates offer the best services of Online Taxation in India.
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|Our Auditing & Assurance services helps clients by understanding the increasing complexity of the regulatory environment, the need for greater transparency in operations & disclosure norms. The practice provide assurance to the various stakeholders beyond the traditional critique of numbers. We are the best Indian Auditor offering tax audit, & vat audit, & internal audit, statutory audit, & bank audit etc.
Auditing & Assurance Services are at the core of any successful & visionary Financial Management setup. Employing advanced techniques & creative approach in Auditing for better financial & administrative controls, we also suggest improvements for more efficient operation, stronger financial structure & improved system of accounting & administrative controls. Assurance services add efficiency & profitability to your organization by providing independent credibility to your financial statements, & professional advices to management, & expedient solutions to improve the systems & performance. We are the best Auditor from Jaipur & the most efficient Auditor from India.
We are pleased to offer our esteemed clients with accurate & loophole free Auditing Services. These services are provided by our belligerent employees, who have thorough knowledge of all accountancy, & financial & legal aspects.We emphasize on building an internal control system to reduce the risk of omissions & errors. Furthermore, we can also render specific audit services as required by the clients.
Statutory Audit of all types entities like Public Sector, Limited & Private companies, Co-operative Societies, Trusts etc as per the requirements of the statute governing them.
Every assesses, whose annual turnover exceeds Rs. 60 Lacs or the total business receipts from any profession exceed the amount of Rs.15 Lacs in previous year, is bound to get his accounts audited & report the same according to the section 44 AB of the Income Tax Act.
We conduct the Tax Audits of small, & medium & large entities.
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R K Kumawat & Associates provides following services:-
Computation of Total Income under Income Tax Law
Preparation & filing of returns under various direct tax laws like Income Tax, Wealth Tax etc
Computation of Total Wealth under Wealth Tax Law
Valuation of Stocks, securities etc. for the purpose of various direct tax laws e.g. Wealth Tax, & Income from Capital Gains etc
Preparation & filing of returns under various Indirect Tax Laws like Excise Law, Central Sales
Drafting of relevant deeds, documents, schemes etc
Classification & valuation under various indirect tax laws
TDS Returns Filing
Calculation of TDS
Procedural Compliance under various direct & indirect tax laws e.g. Tax Deduction/Collection at source, & interest for late payment of taxes, appeals etc.
Revision of Returns
Counseling by Expert Professionals
Reminder of due dates for all taxes & laws.
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R K Kumawat & Associates has years of experience in a wide array of industries. Our full line of tax services includes preparation of tax returns for individuals, & corporations, & partnerships & for other enterprises.
We help you in the following areas as:
- Assisting the client to organize their cumbersome tax affairs, give them alerts for due date’s deadlines & ensure that all statutory requirements are complied with.
- Providing International Tax advice.
- Managing & consulting on withholding tax issues.
- Managing preparation of tax returns/statements (Income Tax as well as TDS & TCS) & get it filed with relevant authorities within due dates electronically/manually.
- Providing consultancy & managing Fringe Benefit Tax (FBT) issues.
- Managing Client’s regular assessments & managing appeals to higher authorities.
- Assisting in obtaining PAN / TAN.
- Dove-tailing tax strategies into business plans.
- Structuring the entire business transaction, including preparation of structured tax solutions tailored to meet business objectives.
- Tax modeling, which would involve validation of tax assumptions built into financial & business models.
- Other compliance issues such as tax registration, dealing with issues of withholding tax, & certification, etc
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Direct Taxes as the name count is a tax directly paid by the payer which is the amo directly deducted from the payers salary income, property or company. The tax is applied under the Central Board of Direct Taxes (CBDT) usually charges on the base of residential status of the payer. Some common examples of Direct Taxes are income tax, & wealth tax, & corporate income tax & personal income tax. We help our corporate as well as individual customers to deal with direct tax issues in the best possible way. Taxes can be burdensome when not handled properly & with us, our clients get the maximum benefit & comfort with such issues. More so, we aim that our clients never face any issue regarding to taxes & keep utilizing their potential in the best way.
Corporate Income Tax is a form of direct tax that is counted as a vital part for any firm & organization. The tax benefits lead a bank to gain strategic advantage in the market. Our tax planning strategies are implemented minimizing the tax exposure & enhancing their viability in the market. Our corporate income tax solutions ensure that businesses grow without any bothering too much about issues that might restrict the growth. Our services related to corporate income tax ensure that a entity/business smoothly utilize its resources without facing any problems. More so, we provide various tax avenues options which help the customers to not only save taxes, but also give a new height to the business. A company with proper tax planning will grow as per the potential, will put the resource into utilization to keep moving ahead on all fronts.
Corporate Income Tax Services offered by us are:
- Ensured tax minimization provided along with offering advisory services based on various deductions & exemptions. Also, tends to enhance the customers efficiency by providing expert guidance in structuring their transactions
- Preparing our clients for appeals & assessments & representing them in front of the authorities
- Also offer transaction related advisory services for takeovers, & hive-offs & amalgamations
- We provide highly efficient litigation services for strategy formulation & filling appeals
- Advance tax computation provided & assisting them for filing of corporate tax
- Assured guidance provided on preparing the application of withholding tax provisions along with compliance with the issue of form 16A & filling of annual returns
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We have mastery in providing high-end expertise tax planning services & tax consultancy services that includes international tax planning, & Indian direct tax Consultancy to corporate, individuals & NRIs.
* Transfer Pricing
* International Taxation & Indian Direct Tax
* Tax Compliances:
* Preparation & filing of various statutory returns & documents with the revenue authorities.
* Preparation & filing of tax returns
* Filing of e-Income tax & e-TDS returns
* Services related to withholding taxes
* Support for obtaining PAN & and TAN
* Maintenance of accounting records for taxation purpose & tax audit
* Registration & compliances under STPI & EOU scheme
* Representation before Income Tax & Appellate Authorities
* Obtaining License under Section 12A, 80G and 35AC of Income Tax Act for trusts, & societies & Section- 25 Company
* General advice & Legal opinion to a private sector company for direct & indirect taxation in India
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A Chartered Accountant is the best equipped to render professional services in the following areas:
The Accounts & Assurance division has been providing assurance related services across various industry sectors over the past 5 decades. The service engagements include analysis & evaluation of financial statements of banks, & financial institutions etc.
The Division has rich assurance expertise across industry verticals such as BPO, & Infrastructure, & Real Estate, & Leisure & Hospitality, & Trading, & Manufacturing, & Export houses etc. The Division serves top industry houses & banks in the country; & public & private enterprises; domestic & foreign businesses; not for profit enterprises & more.
As business entity enhance their international footprint, it is imperative for them to efficiently manage a dynamic tax environment. To enable our clients to address challenges posed by a rapidly changing business landscape, our Tax & Business Advisory division offers a wide range of innovative solutions aimed at enhancing your company’s business performance.
Our tax experts interact with client personnel on an ongoing basis & evolve tax efficient solutions, whilst at the same time, recognizing that risk mitigation is a key parameter in any planning.
The range of services include
- Corporate & personal tax compliance including assessments, & Appeals before the Commissioner (Appeals) & the Income-tax Appellate Tribunal.
- Transfer Pricing
- International & Domestic Tax Planning.
- DTAA compliant cross-border investment & transaction structuring.
- Income-tax & Wealth-tax returns of resident & non-resident individuals, domestic & foreign companies & other entities.
- Statutory Compliance relating to VAT, & Excise & Service tax.
- Proactive planning of entry strategies, structuring & analyzing deeds & agreements, ensuring maximum tax efficiency.
- Focused advisory services on issues that call for expert legal opinion on aspects of valuation, & classification, & compliance, VAT-related issues, etc.
- Advice on various tax implications on setting up Greenfield projects, & import of equipment, cost-benefit analysis of various import options, & advice on availing duty exemptions, handling project import-related matters, etc.
- Setting up of Export Oriented Unit (EOU), & Software Technology Park (STP), & Project Offices, etc. in India.
We are proud to offer credible Income Tax (IT) Service as part of our Direct Tax Service. Our Income Tax Service is high praised by our clients for the ease & efficiency with which we offer them. Other details of the service are listed below as :
Indian Income Tax has categorized the assesses into the following status :
- Hindu Undivided Family
- Body Of Individuals
- Association Of Persons
- Co-operative Societies
The tax rates under Income Tax Act, 1961 are different for each type of the assesses mentioned above. In India the financial year is from 1st April to 31st March. Further Indian revenue authorities follow a residence based taxation system under each category. Broadly, taxpayers may be classified as residents /or non-residents. Individual taxpayers may also be classified as ‘residents but not ordinary residents’ in india.
”Domestic company” means a company which in respect of its income liable to tax under the Income Tax Act, 1961 has made prescribed arrangement for the declaration & payment of dividends in India in accordance with section 194. Any other company will be a “foreign company”.
- Mergers & Acquisitions- Our professional expertise in M & A activity lies in honest & correct valuations, leading upto the most attractive & justified swap ratios. We ensure that the whole process results in profitable pooling of resources, so that the whole entity benefits from the corporate restructuring by using all available resources in an economical manner. We have undertaken M&A assignments for manufacturing concern, NBFC, Investment companies & financial services sector organization
- Advising on various matters under the Companies Act, 1956
- Management consultancy- we offer specialized services for organizations on a “turn-key” basis, i.e.we undertake full responsibility for a project from zero to beta level (planning to execution).This helps organizations to save valuable time & money, specially in diversification activities where hiring of more permanent employees is not required
- Corporate Restructuring
- Establishing Business Entity Abroad for resident clients- formation & registration of companies abroad (also in tax haven countries), advising on various taxation aspects including Double taxation Treaty (DTTA). We also offer advisory services to bring in FDI through ECB, FCCB, ADRs/ GDRs
- Share Valuations
- Assisting in “winding-up” of companies / striking off name from Registrar of Companies
Our vast experience & exposure in multiple financial services & products has led us to offer our professional services as Financial Advisors & Wealth Managers to individuals, families & businesses.
Our role as Wealth Managers covers a wide area of activity to deliver customized solutions & sophisticated investment management & financial planning to help each client achieve his unique financial goal. We help clients to co-ordinate retail banking, & tax planning, & investment portfolio management & estate management. We also advice clients on the use of trusts (both inheritance and charitable), business succession planning & also the use of hedging derivatives for large stock holdings.
As Independent Professional Wealth Managers we use our experience to assess each clients individual risk taking appetite & offer suitable solution with the ultimate aim of Protecting, Enhancing & maximizing their wealth.
- SEBI Consultancy & Advisory Services
- Matters relating to Substantial Acquisition & Takeover Code
- Matters relating to price rigging, Insider Trading, & price manipulation etc.
- Preferential Allotment & Pricing Guidelines.
- Portfolio Management Services (Rules and Regulations)
- Appeals before Securities Appellate Tribunal (SAT)
- Matters relating to Brokers’ Registration Fee, & Multiple Membership fee etc
- NBFC compliances including RBI directives, & prudential norms, auditors report etc
- Obtaining PAN for NRI/PIO, procedural compliances for repatriation of income/assets from India
- NRI investment in shares, debentures, property and other instruments
- NRI investments in secondary markets
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