Direct taxes are levied directly on individuals and corporations, and cannot be transferred to another entity. In India, direct taxes include income tax, corporate tax, capital gains tax, securities transaction tax, and wealth tax. Our comprehensive direct tax services help businesses and individuals navigate the complex tax landscape, ensuring full compliance while optimizing tax liabilities through legitimate planning strategies. We provide expert guidance on all aspects of direct taxation as governed by the Income Tax Act, 1961.
"Strategic direct tax planning is the art of arranging your affairs within the legal framework to minimize tax burden while maximizing wealth creation and business growth."
Our direct tax advisory covers corporate taxation including MAT (Minimum Alternate Tax), dividend distribution tax implications, transfer pricing for related party transactions, and tax planning for mergers and acquisitions. For individuals, we handle salary structuring, capital gains optimization, residential status planning for NRIs, and succession planning. Our team ensures you benefit from all available deductions, exemptions, and incentives under the Income Tax Act.
We provide expert direct tax advisory that combines deep technical knowledge with practical business understanding. Our proactive approach identifies tax-saving opportunities while ensuring full compliance with all statutory requirements and deadlines.
Direct tax is paid directly by individuals or businesses to the government and cannot be transferred to others. It includes income tax, corporate tax, capital gains tax, and wealth tax. Indirect taxes like GST are collected by intermediaries and passed on to consumers. Direct taxes are based on ability to pay and are considered more equitable.
There are seven ITR forms: ITR-1 (Sahaj) for salaried individuals up to ₹50 lakh income, ITR-2 for individuals with capital gains, ITR-3 for business/profession income, ITR-4 (Sugam) for presumptive taxation, ITR-5 for partnerships and LLPs, ITR-6 for companies, and ITR-7 for trusts and associations. Choosing the correct form is essential for compliance.
Legal tax optimization strategies include claiming all eligible deductions under Sections 30-37, utilizing depreciation benefits, investing in specified assets for capital gains exemption, opting for beneficial tax regimes, claiming R&D deductions under Section 35, and proper structuring of transactions. Our experts help identify and implement the most suitable strategies for your business.
Key due dates include: Advance tax payments (15th June, Sep, Dec, March), TDS/TCS returns (quarterly), ITR filing (31st July for individuals, 31st October for audit cases), Tax audit report (30th September), and Transfer pricing report (31st October). Missing these deadlines attracts interest and penalties under various sections.
Tax notices can be for scrutiny assessment, demand, or information requests. It's important to respond within the stipulated time to avoid penalties. Our team analyzes the notice type, prepares appropriate responses, represents you before tax authorities, and helps resolve the matter efficiently. We handle notices under Sections 139(9), 143(1), 143(2), 148, and other provisions.
