Taxation for Corporates

The changes in the tax and regulatory environment constantly challenge large and growing businesses, particularly those operating internationally. How your business meets this challenge can have a significant impact on your bottom-line. Business growth, brings along complex tax challenges including Direct tax and Value-added tax (VAT) considerations. For this, you need expert and practical advice from professionals having not only local expertise but also a global outlook.

At BSC, our focus is to ease the burden for domestic as well as multinational companies in India, by achieving the right balance between business needs and mitigating compliance risks. Our experience with a broad spectrum of national and international clients, engaged in different businesses, gives us a wider understanding of individual business needs.
Our range of Corporate Tax Services includes:
Tax Strategy

We, at BSC, consider tax strategy as an integral part of the overall business strategy and focus on ensuring that the tax function supports the larger approach to business. We offer a full suite of services to multinationals, domestic corporations and individuals in designing, implementing and defending their overall tax strategy. Our expertise includes tax reform, taxable income optimization, and leveraging tax credits to maximize benefitsWe offer strategic tax solutions for all aspects of business activities including:

Tax Advisory

Tax planning presents opportunities as well as challenges and complexities.

With a team of experienced professionals, we have helped our clients to set up structures which are tax efficient and thereby enabling them to conduct their business activities efficiently.
Corporate tax advisory includes:
Cross Border Taxation

While business considerations primarily drive overseas investment decisions, tax and regulatory aspects also play an important role in the decision-making process. Optimizing overall tax burden and aligning tax functions to the business strategy has become more crucial than ever for businesses.

Our approach is to first understand the business rationale behind an investment decision and provide solutions that are tailored to the needs of the business, sector and time sensitive requirements. We provide customized cross border tax services under the following broad categories:

Global Expansion Services
Multinationals over the globe are regularly looking out for opportunities for making investments in various jurisdictions seeking the overall objective of growth. At BSC, global advisory services, advises clients on the details of engaging in a successful expansion, repositioning or merging of global operations. Our experienced professionals assist and drive business leaders in making informed decision pertaining to strategic investment taking business and tax consideration into account, acquisition, planning, and geopolitical changes.
The services provided under this can be broadly categorized as under:

Our dedicated advisors provide accounting expertise and prepare returns of all types of non- corporate assessee’s including individuals, HUF, partnership firms, Limited Liability Partnership (‘LLP’), Charitable trusts, Artificial Judicial Persons (‘AOP’) and Body of Individuals (BOI’) to ensure tax compliance and keep your day to day running smoothly. We at BSC offers full suite of services to our non- corporate assessee’s in designing, implementing and defending their overall tax strategy.
Our team provides all kind of tax related assistance in India as well as to non- residents. We are familiar and holds expertise in the niche fields of tax litigations, tax planning, advisory and tax compliance.

We offer a comprehensive range of services and deliver integrated compliance and consulting services:

Business Set- up and registrations

We help Businesses to set up in India in the most tax- efficient way by evaluating the nature and size of the business of the client and closely monitoring the same with the tax laws applicable to it.

Return of income

Our team assists its non- corporates in filing their return of income which adheres to the extant income tax provisions. Our holistic approach, allows the client to gain the trust over us in mitigating their tax and compliances related risks.

Examination of Permanent Establishment (‘PE’)

Our expert team helps our clients in mitigating the PE presence in India. For cases where, PE is constituted in India, we provide wholesome services including tax advisory and related compliances.

Evaluation of conversion feasibility of status of the assessee into a corporate entity

We help businesses to evaluate the need of conversion into a corporate entity by evaluating the cost- benefit analysis and the taxation consequences.

Appeals and Representation before the Income Tax Authorities

Our in- depth knowledge of the tax laws, judicial precedents and recognition before the income tax authorities, enable us to resolve tax disputes in the most efficient and smooth manner.

Advisory and Consultancy

Before advising on any assignment, we deeply analyse the nature and terms of transaction and business need of our clients.

Personal Tax Structuring and Tax Planning

We help our clients in developing most tax efficient structures from all the corners of law and taxation.

Charitable Trusts Registrations

Our team is well versed with smoothly obtaining registrations of charitable trusts including analysis of activities to be considered as ‘charitable activities’.

TDS and TCS related compliances

We help our clients in all the TDS- TCS related compliances which includes: Quartely filing of TDS returns, Evaluating the appropriate section of the Act in which TDS is to be deducted, Advisory on TDS on foreign remittances, TDS related litigations and likewise.

In- bound and off shore investment structuring and planning

Our team assists businesses in expanding their businesses and evaluate the inbound and outbound structuring models. Along with being well versed with the Indian Taxation structures, our team is also capable of evaluating offshore taxation in order to advise our client the most tax efficient structuring model.

Facing an audit by the Income-tax Authority means dealing with income tax personnel’s who are specifically trained and are experienced to point out errors and omissions in the income tax returns filed by any person. They have the rights and expertise to dig deep into one’s past returns, financial accounts and business records. Sometimes accusations made by the Income Tax officers can leave one vulnerable for substantial assessments. While the authorities may see red flags with items such as passive activity loss, income not being reported or excessive business expenses, it is important to defend one’s position with valid arguments by way of representation.
To ensure a comprehensive approach to tax disputes, our tax litigators routinely collaborate with clients’ accountants, in-house counsel, and financial advisors. All of our tax litigators possess both a substantive knowledge of tax law and a detailed understanding of the procedural issues involved in contested tax matters.

Representation

We, at BSC, having more than 34 years of expertise in assisting clients for carrying out assessment and reassessment cases provide the following services with respect to the subject matter:

  • Representing independently in E-assessment proceeding of various entities, corporate as well as non- corporate, before the Income-tax authorities.
  • Undertaking extensive legal research, drafting high end submissions and guiding clients for relevant documents necessary for appearing before the authorities.
  • Post completion of E-assessment proceeding, creating tax strategies for clients for better future planning. It also includes identifying means and methods to use the strategies in the most efficient manner to the advantage of the client. Thereby, formulating and harmonizing tax strategy to the existing business strategy is a critical aspect to maximize the profit objective which requires both technical resources and in-depth knowledge of each client’s unique financial situation.
  • With respect to Refund and Rectification claims coordinating with the Income Tax authorities by ensuring continuous and rigorous follow ups for refunds due, if any or incorrect demands to be deleted.
  • Filing of Appeal against the Rectification order as per the provisions of the Act.
  • Coordinating with the Income Tax authorities with regards to the effect of the order passed.

Litigation

  • At BSC, we with our proficiency in litigations, assure to provide our clients with the best of services by.
  • Representing before Appellate forums viz CIT(A) & Income Tax Appellate Tribunal for various proceedings right from drafting of appeals to filling petitions and written submissions.
  • Bridging the gap between our clients and the legal practitioners, if required for representation before the High Courts and Supreme Court. Making available the relevant facts and documents for combatting against the Department’s contentions.
  • It just does not stop here! We believe in supporting and getting our clients through the post litigation procedures such as replying to demand notices, following up for issuing and making available the Order Giving Effects after appropriate orders have been passed and also follow up for consequential refunds, if any.

Search and survey operations are conducted by the Income Tax Department, also called as raids, when they suspect an individual or business to have hoarded illegal money.
Search and Seizure is one of the crucial weapons that the Income-tax department possesses to check black money. It is a measure that is known to be constitutionally valid too. A raid gets triggered under any of the circumstances, which includes credible information of tax evasion, information calling from government departments, any information procured from assessment records of taxpayers, illegal investment in real estate, unexplained cash credits, share transactions etc.,
Search and Survey can be one of the most challenging times for any organization. These are times when its critical to have credible advisers you can trust. We have a highly experienced team of tax professionals to deal with a tax legislation for search and survey work. Preparation of submission by decoding the seized material and representation before Investigation wing officer for explaining the material found during the search or survey proceeding plays an important part.
We, at BSC provides following services:

  • Representations before Investigation Wing
  • Assisting right from the Inception stage to the Conclusion Stage
  • Preparation and submission of response against the summons issued
  • Preparation and submission of page wise explanation of Seized Material
  • Preparing and drafting submission for search assessments
  • Representations before tax officer during search assessment