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Tax and Regulatory

Internal Audit Services

Nowadays there has been common saying by all business units that taxes grow without rain.

How NAA can help you?
The fundamental philosophy of the N&A is that "quality cannot be compromised for any assignments undertaken". Quality is an integral part of N&A commitment towards its tax and regulatory services. N&A team of professional is constantly looking forward to provide value added services to all our clients.

N&A is supported by well qualified and experienced chartered accountants who have obtained experience in multinational tax consultancy firm and are currently looking forward to provide quality advisory services to all our prospective clients.

N&A team of professional has developed tax management capability and are constantly working in providing value added services to all our clients.

We are looking forward to provide below mentioned services to our prospective client.

Individual Tax

Taxes after all, are dues that we pay for the privileges of membership in an organized society. The payment of taxes gives a right. But the right can be lost if taxes are not paid accurately and timely.

Today, it takes more brains and effort to make out the income-tax form than it does to make the income. Here comes N&A to solve your problem.

N&A's services assist individuals (Both Expatriate and Non -Expatriate) to provide regular update on complex statutes and do tax planning and also provide consultancy on insurance issues.

Compliance

  • Assisting individuals in preparing and filling of all types of tax returns
  • Review of notices/ orders/ other communications received from tax authorities and other regulatory authorities
  • Liaising with tax authorities and other regulatory authorities for obtaining legal opinions, handling tax litigations before appellate authorities and tribunals.
  • Assisting individuals in obtaining Permanent Account Number ("PAN"), Tax deduction account number ("TAN".
  • Filing of e - Income tax and e - TDS returns

Expatriate services

  • Advising on withholding tax on payments to non-residents.
  • Advice expatriate in claming tax credits.

Advisory

  • Advice relating to valuation of assets, assessment procedures and appeal matters relating to wealth tax
  • Advise high net worth individuals, HUF and trusts in matters relating to income tax and capital gains exposures.
  • Assisting individuals in managing their investment portfolio and provide them regular updates regarding investment opportunities to maximize their wealth.
  • Advice on expatriate taxation.

Domestic corporate tax

Compliance

  • Assisting new industrial undertakings in establishing units to claim tax holidays available under various schemes in Income tax Act, 1961.
  • Assisting corporate and other statutory bodies in preparing and filling of income tax return.
  • Review of notices/ orders/ other communications received from tax authorities and other regulatory authorities.
  • Liaising with tax authorities and other regulatory authorities for obtaining legal opinions, handling tax litigations before appellate authorities and tribunals.
  • Filling of annually and quarterly e TDS return.
  • Assisting corporate and other statutory bodies in wealth tax returns filling and assessment of wealth.
  • Assistance in registrations of trusts under the Income tax Act,1961.
  • Assistance in preparing and filing of advance income tax return.

Advisory

  • To provide advisory services pertaining to any transactions involving tax exposures.
  • Assisting companies in obtaining STP registrations.
  • Advices relating to withholding of taxes at regular intervals.

Other Advisory services

Fringe Benefit Tax ( "FBT")

  • Evaluating transactions from the perspective of FBT under the Income tax act, 1961.
  • Assistance in preparing and filling of advance FBT and annual return.

Mergers & Acquisition

  • We provide our comment on the implications under the income tax laws at the time of merger/amalgamation/de-merger.
  • Review of agreements /documents and provide our comment on eligibility to claim tax holidays at the time of aforesaid event.

Transfer pricing in India was introduced in 2001 for curbing tax avoidance by laying down norms for "income arising from international transactions" to be computed at "arm's length price".

Our specialist and well experienced team is competent to offer assistance to your company in the following areas :

  • Issuance of Chartered Accountants certificate i. e Form 3CEB Required by persons involving international transactions with associated enterprises.
  • Documentation compliance Assistance in maintenance and keeping of information and document required by persons involving international transactions with associated enterprises. In this regard we would perform transfer pricing study and issue report persons to represent before revenue authorities.
  • Business model study Performing benchmarking study to ensure that all international transaction entered by persons are maintained at arms length price.

How NAA can help you?
As one of the leading advisers to companies like yours, N&A understands the need to counter the new transfer pricing norms in a way that is both cost effective and does not waste management's time. Our transfer-pricing group provides a comprehensive solution suited to your needs, after understanding the management objectives and the exact nature of the transactions.

International Tax The economic liberalization policy started by Government of India has lead to entry of multinational companies’ in India at large extent. During the last few years, Indian companies have made presence felt in global markets which has resulted in entering cross border transactions. Both domestic and international taxes on cross border transactions have resulted in complex situations in companies.

International Tax The economic liberalization policy started by Government of India has lead to entry of multinational companies’ in India at large extent. During the last few years, Indian companies have made presence felt in global markets which has resulted in entering cross border transactions. Both domestic and international taxes on cross border transactions have resulted in complex situations in companies.

How NAA can assist you?
NAA is supported by well qualified and experienced chartered accountants who have obtained experience in multinational tax consultancy firm and are currently looking forward to provide quality advisory services to all our prospective clients.

NAA team of professional has developed tax management capability and are constantly working in providing value added services to all our clients.

Inbound and outbound investments

  • Evaluating the Inbound and Outbound investments under FEMA regulations and any other allied regulatory bodies.
  • Assist in obtaining necessary approvals for inbound investments from Foreign Investments Promotion Board (“FIPB”) and other approval boards.
  • Structuring of ownership – Inbound & outbound investments.
  • Advice on entity structuring such as branch, subsidiary, joint venture etc for both Inbound and outbound investments.
  • Advice on various forms of capital contribution to maximize project IRR.

FEMA regulations

  • We provide advisory services for transactions involving Foreign Exchange Management Act ("FEMA") regulations.

Our indirect tax professionals with their wide-ranging experience and in-depth knowledge help clients in effective planning, which in turn helps in cost minimisation.

Our Indirect tax practice provides services relating to Sales tax, Service tax, Customs and Excise duties.

Sales Tax

  • Advice on the applicability and levy of Central and State Sales tax laws or Works Contract tax.
  • Assistance in the structuring of transactions and agreements in relation to inter- state and intra-state sales in order to minimise tax incidence.
  • Conducting comprehensive Sales tax health-checks and studies to ensure that the appropriate advice is given in setting up warehousing locations to minimise Sales tax incidence.

Service Tax

  • Advisory services with regard to applicability of the tax, as well as procedural compliance such as registration, assessment etc.
  • Review of contracts and agreements to help mitigate the overall incidence of service tax.
  • Conducting service tax health checks in order to determine the service tax implications on
  • client operations, gauge compliance with legal compliance with legal provisions and suggest tax planning opportunities .

Customs Duty

  • Advisory services relating to various aspects of custom law and applicable regulations - covering rates of duties, exemptions, valuation planning, classification assistance and assessments.
  • Rendering advice on a wide range of custom procedures and documentation requirements, including those relating to import and export of goods, clearance of imports, warehousing, duty entitlements and to name a few.
  • Assisting clients on the policies and procedures set down under the Export-Import Policy, such as licensing requirements.
  • Providing the right guidance to enable our clients to make the most of various benefits available to specific entities/projects or to units in specified areas, as well as concessions available under various export promotion schemes.

Excise duty

  • Rendering advice on a wide range of issues relating to excise duty implications.
  • Providing the right guidance to enable clients to make the most of excise duty concessions and relief.

VAT

  • Rendering advice on a wide range of issues relation to VAT implications on cross-border transactions.
  • Assistance in claiming VAT input credits.
  • Suggestions on the right strategy to minimise the global VAT incidence.

Anti-Dumping Duties

  • Rendering services like analysis of the existing anti dumping proceedings.
  • Preparation and filing of complaints with the Directorate General of Anti- Dumping (DGAD).
  • Compliance procedures relating to these proceedings.

We assist clients in providing the following advisory services on GST :

  1. Advising on GST on matters relating outward supplies, input tax credit availability, valuation mechanism, time and place of supply, changes in tax rates etc. and its impact on the business operations.
  2. Giving opinions on tax issues
  3. We assist clients in providing the following compliance services on GST :
    • Assistance in obtaining registrations under GST.
    • Preparation / Review of GST Returns including refunds.
    • Undertaking comprehensive Review of business operations to identify Opportunities and Compliance Gaps, if any.
    • Review of the GST implementation done by the company.
    • Preparation of annual reconciliation statements, i.e. returns with audited financial statements.
 
     
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