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  info@bsa-in.com

TAXATION

Direct Taxation


Comprises of taxation on income earned in a financial year a part of which is taxable as per rates prescribed for that year. With the financial year running from 1 April to 31 March of following year, broadly taxpayers are classified as residents or non-residents where the individual taxpayers can be classified as 'residents but not ordinary residents’.

We at BSA & Associates help our clients to save taxes legally and provide solutions to all their tax worries. Apart from normal tax procedures like filing of returns, calculation of advance tax and providing consultancy on direct tax matters, we have a specialized edge in handling income tax notices and orders.

Apart from the above services, we also provide Foreign Remittance Certificates in Form 15CB which is required by a person making a remittance (a payment) to a Non Resident or a Foreign Company. Such a person, has to submit Form 15CA. This form is submitted online. In some cases, a certificate from a Chartered Accountant in Form 15CB is required before uploading Form 15CA online.

Business Taxation


With a number of taxes on the statute book, current and continuing tax information has become vital to the effective economics of business management. The assessment of taxes is very closely linked with financial accounts.

We at BSA & Associates with our experienced team prepare the returns for tax purposes, represent assessees before the Income-Tax authorities and render general and specialised advice on taxes to our clients.

Capital Gains


Capital asset refers to property of any kind held by an assessee, whether or not connected with his business or professional, excluding the following:


1. Any stock-in-trade, consumable stores or raw materials held for the purposes of business or profession;

2. Personal effects, namely, movable property (including apparel and furniture held for personal use by assessee or any other member of his/her family dependent on him/her, but excludes jewellery, archaeological collections, drawings, paintings, sculptures or any work of art;

3. Agricultural land in India, subject to certain conditions;

4. Certain specified government bonds.


Sale or transfer of a capital asset is computed under this head.

We at BSA & Associates help our clients to understand and take the benefit of various provisions of capital gains.

Personal Tax Services


Inland Revenue enquiries

Tax planning

Income from house property

Benefits in kind

Other complex areas

Indirect Taxes - GST


A new indirect tax reform, GST was introduced in India w.e.f 1st July 2017.

We at BSA & Associates have beautifully responded to the said revolution in Indian Taxation system and have successfully educated our clients regarding the same.

Right from GST Registration to filing of returns, our firm support to our clients has reduced their confusion and chaos regarding the new law.

Tax Due Diligence


Any merger and acquisition transaction has to be carefully planned and executed ; therefore, before closing a deal and to make more informed decisions, the buyer normally carries out certain agreed upon procedures to assess the deal from commercial, financial, tax and legal standpoints. Beside important issues, this includes a spectrum of tax and regulatory issues such us exchange control, income taxes, indirect taxes and capital market regulations.

The agreed upon procedures are normally described as a ‘due diligence exercise’. The expiration ‘due diligence’ is not define by any statute, nor is there any legal binding to carry out the same; on the contrary, it is a creation of conventional practices.

The need for a due diligence exercise can perhaps be linked to the phrase forewarned is forearmed’. Although due diligence is not a panacea against investment failures, it provides the potential buyer with relevant information and business/targets proposed to be acquired and helps manage associated risks.

Tax Deducted at Source (TDS)


Tax Deducted at Source (TDS) is a means of collecting income tax in India, under the Indian Income Tax Act of 1961. Any payment covered under these provisions shall be paid after deducting prescribed percentage. It is managed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue managed by Indian Revenue Service . It has a great importance while conducting tax audits. Assessee is also required to file quarterly return to CBDT. Returns states the TDS deducted & paid to government during the Quarter to which it relates.

We provide all TDS and TCS related services to our clients right from filing of returns , TRACES submissions up to compilation & coordination for submissions of various Assessments.

Tax Collected at Source (TCS)


Tax Collected at Source (TCS) is income tax collected in India payable by the seller who collects in turn from the buyer and it is provided under section 206C of Income Tax Act, 1961 at the sale of some goods which are specified. The TCS Rate is different for each category of goods and the Rates in force mentioned in Income Tax Act, 1961.

We provide all TDS and TCS related services to our clients right from filing of returns , TRACES submissions up to compilation & coordination for submissions of various Assessments.

Domestic Transfer Pricing


Assessments from financial year 2012-13 would require application of transfer pricing rules for domestic transactions with related parties. Following is the overview of the latest developments in Domestic Transfer Pricing regulations.


Specified Domestic Transactions

Section 92BA provides the meaning of Specified Domestic Transactions to which various other provisions relating to transfer pricing will apply. These include the following:

a) Any expenditure in respect of which payment has been made or is to be made to a person referred to in section 40A(2)(b);

b) Any transaction referred to in section 80A;

c) Any transfer of goods or services referred to in section 80IA(8);

d) Any business transacted between the assessee and other person as referred to in section 80- IA(10);

e) Any transaction, referred to in any other section under Chapter VI-A or section 10AA or the provisions of sub-section (8) or sub-section (10) of section 80-IA are applicable; or f)Any other transaction as may be prescribed,

where the aggregate of such transaction entered into by the assessee in the previous year exceeds a sum of two hundred million Indian rupees.


We provide unprecedented support to clients having dealings in foreign currency and help them to comply with provisions with respect to specified domestic transactions.

Contact Information


Flat No.103, 518 Narayan Peth
Near Modi Ganpati
Pune - 411030

email: info@bsa-in.com

Phone: +91 (20) 2444 0404

Office


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