Easing corporate tax compliances

The ways of doing business are changing worldwide due to the increase in global competition and digitalization of means of communication, business expansion, and reach to the global customers. The growth of business requires proper strategies, ideas, and focus on the core business. The complexities of the tax provisions may create hurdles in the way of the growth of the businesses and to navigate them successfully corporate tax services play an important role.

The taxation of corporate business entities in accordance with the applicable tax laws is known as “Corporate Taxation”.

Corporate taxes constitute a significant cost of the business and proper compliances and tax advice helps in attaining tax efficiency. At MBG, our Corporate Tax Consultants offer a wide range of Corporate Tax Services under the Direct Tax vertical to effectively manage corporate tax compliances. Our Corporate Tax Services are as follows:

1. Regulatory Approvals

• Obtaining Statutory Tax Registrations such as Permanent Account Number (PAN), Tax Withholding Number (TAN)
• Assistance in obtaining lower withholding tax (WHT)/Tax Deduction at Source (TDS) Certificate from Tax authorities
• Our corporate tax consultants also assist in obtaining various exemption certificates & approvals from Tax Authorities

2. Statutory Compliances

• Corporate tax compliances include computation and payment of advance tax and filing of tax returns
• Withholding Tax/Tax Deduction at Source Compliances such as Computation, payment of TDS & filing of returns
• Statement of financial transactions (SFT) compliances & filings
• Assistance in obtaining certificates under Income Tax Act
• Assistance in obtaining valuation and other mandatory certificates required under Income tax for mergers, acquisitions & business restructurings (M&A)
• Tax Due Diligence Services
• Assistance with documentation requirements to support the planning and positions adopted in Tax audits

3. Corporate Tax Advisory Services

• Comprehensive advice/ opinions on tax matters & tax planning
• Identification of tax exposures & tax efficiency planning
• Inbound investment advisory on tax-efficient structures & entity set-up
• Corporate tax advisory services on Minimum Alternate Tax (MAT), Withholding Tax, General anti-avoidance rules (GAAR), etc.
• Tax Advisory and consultation for Merger and Acquisition Transactions
• Income tax/Tax Deducted at Source health check and diagnostic reviews
• Tax advisory and planning engagements in connection with bidding, Engineering Procurement, and Construction (EPC) & turnkey projects under different structures
• Direct tax health check and diagnostic review
• Project feasibility analysis from direct tax perspective

4. Exit Approvals

• Surrender of Permanent Account Number (PAN)/Tax Collection and Deduction Number (TAN) at the time of liquidation and winding up
• Assistance in obtaining No Objection Certificate (NOC) from Tax Authorities at the time of liquidation and winding up
• Assistance in obtaining a No Objection Certificate (NOC) from tax authorities on matters relating to immovable properties, certain movable and financial assets

5. Representation Services

• Handling corporate income tax scrutiny assessments, penalty proceeding & representation before tax authorities
• Exploring alternative tax dispute resolution avenues for e.g.: Commissioner of Income Tax – Appeals (CIT-A), Dispute
  Resolution Panel (DRP) etc.
• Preparing advance ruling application and representing before Authority for Advance Rulings (AAR) for settling a tax
• position involving non-resident(s)
• Litigation support before Indian Courts of Law through in-house and external expert legal counsels
• Representation before Courts/Tax authorities in matters related to search, survey, and Income Tax Settlement Commission
• Representation before various tax law tribunal for the purpose of settlement of case demand

Browse the below section to know more about other Direct Tax Advisory Services-