Handling personal taxes with accuracy

As per the provisions of the Income Tax Act, 1961 (ITA), scope of income of an individual liable for taxation in India depends upon the residential status of an Individual in India. The residential status in turn is dependent upon the number of days stay of an individual in India in the relevant financial years and is determined for each financial year separately. The taxation of such individuals is known as “Personal Taxation”.

The personal taxation of Indian nationals involves several complex issues such as determination of eligible exemptions, deductions and other related compliances , interest and penalties exposure due to any procedural delays in deposit or filings. Hence, an individual requires professional “Personal Tax Advisory Services” to perform relevant tax and regulatory compliances.

An employer is required to do various tax compliances in relation to the taxation of the Indian national employees in the nature of Tax Deduction at Source (TDS) compliances. We offer a wide range of Personal Tax Services to our clients. Our Personal Tax Services related to the Indian nationals are as follows:

1. Regulatory Approvals

• Obtaining Permanent Account Number (PAN)
• Assistance in drafting of Employment Agreement from tax and regulatory prospective
• Analyze salary components of the Indian National Employees from tax and social security laws perspective

2. Statutory Compliances

• Personal income tax consulting to compute taxable income and income tax to be withheld and/or deposited to government treasury
• Tax consultant services to prepare and file personal income tax return
• Assistance in furnishing Form 30C at the time of leaving India for good

3. Personal Tax Advisory Services

• Advisory on determination of the Residential Status of Indian National Employees
• Tax consultant services on taxability of various sources of income in India
• Advisory on availability of exemptions, deductions and tax credit mechanism
• Advisory to High Net worth Individual’s (HNIs) on tax and regulatory aspects

4. Payroll Processing Services

• Supporting in payroll processing of the Employees
• Collation and Review of declarations and documents of the Employees

5. Representation Services

• Handling income tax scrutiny assessment & penalty proceedings of individuals and representing before with Income Tax Authorities
• Handling income tax appeal proceedings of individuals and representing before Tax Appellate Authorities

To know more about other Direct Tax Advisory Services, browse the below section-