Taxation Compliance

Coverage of Compliance's:

1. Income Tax

2. Service Tax

3. Excise Duty

4. FEMA

5. STPI & SEZ

6. Companies Act

7. Others

Scope of work:

• Calculation and deposit of monthly/periodic tax liability

• Availment of tax credits benefits

• Preparation and filing of tax return

• Preparation of detail required during the assessment proceedings

• Management of various Forms

• Preparation of detail required during Statutory, tax and Internal Audits

• New registrations and surrender of old ones

Benefits experienced by our clients:

• Real time access to the status of tax compliances which can be analyzed from various angles. It gives a huge comfort level to the CFO and Board of the Company.

• Annual review of applicable compliances as per the nature of business of company. We share regular updates about any changes in the existing compliances.

• Preparation and review of complete documentation at the time of filing of tax return which saves huge effort later on when the scrutiny assessment takes place. It also helps in Statutory and Internal Audit.

• We follow system oriented and flow chart based approach to compliances. It reduces the dependency on the knowledge /skill of person to a larger extent.

• One stop solution for all the tax compliances at pan India level. This enhances the productivity and reduces the legal and professional charges by a minimum 20%.

5 major pain areas of CFO’s related to Tax Compliance's

1. Dependency on person who looks after the tax compliance's even if the competence level is average

2. Don’t get time to review tax related information as it’s always filed at the 11th hour

3. No real time status about tax compliance's on pan India level

4. Additional tax liability at the time of tax assessment just because of lack of information or documents

5. No clarity whether all the available benefits available under tax laws are being availed.

How outsourcing of tax compliance's can address these pain areas?

1. Access to the best taxation practices of clients as we are dealing with multiple clients across industries

2. System driven approach which involves mapping of processes and use of checklists for future reference

3. Immunity from attrition of taxation staff at any point of time

4. Real time dashboard which provides clear picture about the status of tax compliance's on various parameters i.e. Profit center wise, law wise, state wise etc.