A Direct tax is a type of charge, which is compulsory straight on the tax payer and rewarded straight forwardly to the government by the personnel (juristic or natural) on whom it is obligatory. A direct tax is single that cannot be shifted by the tax payer to somebody else. The some important direct taxes imposed in India are as under:

 

Income tax:

Income Tax Act, 1961 force tax on the earnings of the individuals or Hindu undivided families or co-operative societies or firms and trusts or every artificial juridical person. The enclosure of a particular income in the total profits of a person for income-tax in India is based on his suburban status. There are three residential status, viz., (i) Resident & Ordinarily Residents (Residents) (ii) Resident but not Ordinarily Residents and (iii) Non Resident. Services which we provide are as followings:

* New Pan/Tan Application

* Correction in Pan/Tan

* Income Tax return filing services

* Income tax raid consultants

* 12A & 80G registration of NGOs

* Income tax refund clearing services

 

Wealth Tax:

Wealth tax is a direct tax, which is charged on the net wealth of the assessee. It is a tax on the benefits derived from ownership of property. The tax is to be paid year after year on the same property on its market value, whether or not such property yields any income. Wealth tax, in India, is levied under Wealth-tax Act, 1957. The Income tax department under the Department of Revenue in the Ministry of Finance administers the Wealth Tax Act, 1957 as well as the Wealth Tax Rules framed there under.
Under the Act, the tax is charged in respect of the wealth held during the assessment year by the following persons:-

> Individual
> Hindu Undivided Family (HUF)
> Company

 

Chargeability to tax also depends upon the residential status of the assesse same as the residential status for the purpose of the Income Tax Act.

 

If you are chargeable to Wealth Tax, you are liable to file your Wealth Tax returns and we can assist you with the same.

We provide following services under wealth tax act:

* Wealth tax return filing services

* Wealth tax filing services

* Wealth tax valuations

* Wealth tax case settlements

 

Inheritance (Estate) Tax:

An inheritance tax (also known as an estate tax or death duty) is a tax which arises on the death of an individual. It is a tax on the estate, or total value of the money and property, of a person who has died. India enforced estate duty from 1953 to 1985. Estate Duty Act, 1953 came into existence w.e.f. 15th October, 1953.

 

Gift Tax:

Gift tax in India is synchronized by the Gift Tax Act which was comprised on 1st April, 1958. It came into consequence in all parts of the country except Jammu and Kashmir. As per the Gift Act 1958, all gifts in excess of Rs. 25,000, in the form of cash, draft, check or others, conventional from one who doesn’t have blood relations with the beneficiary, were taxable.

 

If you are planning an development, rearrangement, or amalgamation and acquisition, MTS can help you decide which tax acknowledgment, discharge, and abatements and which economics and communications support services are available to you. Minimizing your indirect taxes makes sense. Our tax experts can help you do it.

 

Further, a direct tax analytic review is a multinational package offered to our clients. This appraisal helps recognize areas of possible tax revelation and valve opportunities for tax reserves. Our tax professional also lend a hand you in making illustration before the proceeds establishment for get hold of tax allowance, break and looking for clarifications at situation as well as centralized level.

 

Whether it will be a get ahead of through or whether it will beat your foundation line, MTSare here to lend a hand you in constitution, observance fulfilment and bring a court case matters which will help you to take judgment to impel your earnings.

 

Corporate Tax:

The companies and business association in India are taxed on the revenue from their worldwide dealings under the provision of Income Tax Act, 1961. A corporation is considering being resident in India if it is incorporated in India or if it’s control and administration is situated completely in India.

Corporate Taxes are annual taxes owed on the profits of a body corporate operating in India. The key terms company is a domestic/ resident company or Foreign/non-resident company. The necessities relating to corporate income tax are controlled in the Income-tax Act, 1961. There are exact statutes for other taxes levied on companies. Taxadvsiorindia.com make simpler and downsize the direct tax system of India is currently being appraisal by the government.

 

With a fair helping of obtaining necessary approvals, the MTS thump a pathway the client can safely follow through the ruthless situation of rules and regulations. This necessitates in-depth investigation of all areas. And where matters of tax go beyond with lawful and economic feature, one must be able to right of entry the suitable authority information.

 

Our corporate tax service contributions are modified to help out companies in get-together the challenges that such an atmosphere throws up. Consisting of a widespread management group of partners directors, our professionals are occupied in give an opinion both international and domestic companies on a range of characteristic impacting company, administration of tax hazard and in commerce with tax debate. Additional purposely, MTShave guidance companies on access and set up plan including the site linked tax reimbursement, effectual use of Free Trade Agreements, best set-up of provide series administration and the taxes connected to generate and organization of corporeal infrastructure.

 

 

Tax Disputes Redressal:

Our professionals have been preserving by or on behalf of a open assortment of partnerships, not-for-profit organizations, businesses, individuals, and government entities. They take pleasure in a very good reputation in the big business and official communities outstanding to their give evidence know-how, standing, and sensitivity. Taxadvisorsindia.com work together to ensure your total tax structure is commercially associated with your corporate strategy. Drawing on our joint experience, we expand complicated, sensible advice for running your total tax risks—helping you understand tax efficiency and convene governmental necessities.

 

MTS, the firm come into view & conduct arguments on behalf of clients before various courts/commissions/tribunals and other statutory authorities. The compass of work of the Firm in this locale of performs includes outline of summons petitions, plaints, written statements etc., drafting of petitions, applications, , petition relating to corporate, regulatory, taxation (direct & indirect), etc.

 

Featured services during the more ready phase of businesses, we have advised companies on efficiently commerce with the altering laws and in re-aligning or re-structuring operations; we also counsel companies on the ensuing collision on sourcing patterns, pricing plan etc and offer on call hold on tax advisory, help in tax compliance variety from tax computations, preparation and e filing of returns, help with documentation necessities to carry the planning and site assume and depiction during the income audit and estimation events.

 

International Tax:

MTS (Meerad Tax Solutions) in  international tax armed forces grouping give a hand customers in deal with multifaceted cross-border tax challenges with admiration to speculation and contract construction, investment company structure, collection intellectual property assets, investment structures, the make use of agreement networks, monetary tools and preparation policies to attain and put into practice sound worldwide tax policies. Every of our partners has at least a decade of knowledge in a big environment and is a lot networked within the all-inclusive international tax community.

 

We India takes its equitable place as an intercontinental player on the globe phase, the significance of cross-border tax setting up, hazard alleviation and argument running has come to the forefront. As well the administrative device to determine tax difference of opinion, India has been more and more accepting the use of the substitute quarrel declaration means for treaty-related debate.

 

Our international tax professionals work with large domestic and multinational association to distribute a broad range of preparation, advice-giving, fulfilment and difference of opinion resolution services. In addition, we team with independent consultant international tax law firms, accounting firms, transfer pricing specialists and other tune-up providers crossways the globe to provide picture perfect client service. Our experts are listening carefully on investigate and increasing ground-breaking answers for the cross-border desires of our clients.

 

Another increased area where we assist companies is in dealing with tax controversies; with the relative lack of clarity in some of the laws and the increased need for revenue collection, there has been a spate of tax investigation and recovery proceedings that have been initiated by the Revenue and we assist companies in dealing with these proceedings including in managing the litigation at appellate levels such as the Tribunal and High Courts. These services are provided in close co-ordination with, or by, the Firm’s Tax Controversy Group.

 

MIS Reporting & Book Keeping:

We are a specialist in Bookkeeping and MIS Reporting Services helping the variety of business for the precedent two decades. Our professional bookkeeping and MIS reporting services have lent a hand superior corporate in book keeping and accountancy. It makes more efficient their bookkeeping processes, decrease workload and make the most of their reserve operation. MIS reporting  is very diverse from usual in order system and is worn to analyse the other in sequence system that is practical in the equipped activities of the business.

 

Every Bookkeeping deal has tax implications. Many create tax opportunities that organizations fail to notice in the hurry to get the deal complete. MTS team specialists give practical advice all through the life cycle of your money.

 

We also help our customers in Bookkeeping activities that comprise recording of all the financial dealings undertaken by the business. It remains a record of approximately everything like, what is buy, sell, payable, and own; what money move toward in, what set off out, and what is absent. MTS also has been services in documentation & Advisory. MTS with global team of dedicated experts helps you deliver documentation and advisory arrangements to get together your profitable and prepared needs.

 

Transfer Pricing:

Meerad provides Transfer Pricing related services. We work together with the other tax advisory to create necessary information that ready suggestion guide to transfer pricing international. The administrator text of the new Transfer Pricing guidelines and information provided by MTS. Transfer pricing specialists in many countries are integrated. The result is an inclusive guide to help multinationals contract with changing legislation and this requires driving efficiency through reform in these hard times.

Addition of financial marketplace and opening up of financial system to allow gratis movement of supplies and services has led to vast growth in intra-group transactions. Besides sketch the attention of income establishment worldwide, Transfer Pricing is one of the most demanding tax subject and a key power on a company’s international tax load. It crashes every feature of the supply chain – Research and development, manufacturing, procurement, consumer support and marketing allotment.

An international company’s aptitude to stay on low down effectual tax rates, nationally or across several authorities, can force its market assessment, and the method in which the subject is griped in a transaction can be dangerous in formative the success of a business undertaking.

As more and more financial system take on board the concept of Transfer Pricing system, original rules, documents principles and prices are being passed to put into effect and administer the system. This impacts the tax planning, fulfilment and reporting responsibility of multinationals.

Developing business arrangement necessitates appraisal of Transfer Pricing representation, and it is at this time that the Transfer Pricing answer offered by us can help customers to attain the desired purpose.

Transfer pricing procedure:

Enquiring into Business and Industry stipulation:

 

• Industry arrangement
• Major drivers
• Key company
• Expectations outlook
• Practical analysis search for to identify and evaluate the economically important actions and errands:
• Major function’s analysis
• Key administration activities

 

Transaction terms of the commerce:

 

• Identify the assets employed and risk unspecified by each entity involved in the transactions:
• Forecasts, budgets, estimates
• Account of financial analysis undertaken
• Purpose of method to be applied and basis for rejection of other methods
• Determination of arm length price
• Financial ratios chosen is strong-minded by Functional Analysis, natural history of the business, ease of use of in sequence and details of the transaction below review

 

Database look for:

 

• Detailed Comparability appraisal & eliminations
• Extra data basis in required
• Benchmarking examination
• Option of Profit Level pointer
• Change to the arm distance end to end price in judgment to ability, working capital or other issues

Closing analogous set