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BUSINESS TAXATION

  • Corporate and personal tax compliance including income-tax assessments, Appeals before the Commissioner (Appeals) and the Income-tax Appellate Tribunal.
  • International and Domestic Tax Planning
  • Filing of Income-tax returns of residents and non-residents individuals, domestic and foreign companies. Project offices and Liaison officer, Trusts and other entities.
  • Transfer Pricing -- help and advice in planning and preparing necessary documentation to ensure compliance with the provisions of the Income Tax Act, 1961

Transfer Pricing in India - a brief background
In order to curb the practice of avoiding tax by the foreign companies in India, legislation under the name 'Transfer Pricing Regulation' has been introduced since 2002. This is part of the Income Tax Act, 1961.
The following are the highlights of the provisions relating to Transfer Pricing:

  • Each assessee under the Income Tax Act, 1961 that has any international transaction with overseas-related enterprises should maintain an up-to-date record of each transaction as prescribed by the legislation.
  • Such international transactions should be at "arm's length".
  • There are various methods to calculate the arm’s length price - traditional and non-traditional methods apart from "any other method" which has been introduced recently.
  • At the end of a financial year, the assessee having such international transaction should obtain a report [in Form 3CEB] from a Chartered Account and file the report along with the return of Income.
  • Apart from obtaining such a report, there is a requirement under law to maintain certain set of documents on a contemporaneous basis.

How Can KSJ help you?

  1. KSJ acts as the advisor to your company, especially in matters concerning the effective operation of your business in India. We can help you in complying with the new Transfer Pricing Regulation in the most effective way by providing appropriate solution after studying your business objectives and the nature of transactions that have been carried out.
  2. The following step-by-step procedures explain our modus operandi.
    • FAR [Function performed, Assets employed and Risk undertaken] analysis is done.
    • Select the appropriate method of transfer pricing and identify the parties who have been tested with the particular method.
    • Conduct a survey based on the database available from various national and international sources in order to identify the companies that can be benchmarked for the selected company and perform a financial analysis on the basis of them.
    • Prepare a consolidated report on the basis of the analysis and document it appropriately.
    • Issue the report in Form 3CEB as mandated by the Indian Income Tax Act, 1961.
    • KSJ is also specialized in representing you before the revenue authorities in relation to your transfer pricing enquiries.

B) GOODS AND SERVICES TAX [GST]

  • Advisory services to find out applicability of GST.
  • Procedural compliance, which includes registration, assessments etc
  • Periodical compliances including computing tax liability, computing input credit, depositing of tax, preparation & filing of return.
  • Vetting of contracts and agreements, and planning for GST.
  • Conducting GST health check, to determine the tax implications on client operations, and guiding due tax planning opportunities
 
     
   
 
 
     
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