Taxation – An Overview
In India, the tax structure is divided into two categories: Direct Tax and Indirect Tax. It is essential to understand the distinction between these two. Direct taxes are levied on the income earned by individuals and corporate entities, where the responsibility to pay lies directly with the taxpayer. Conversely, indirect taxes are charged on the sale of goods and provision of services. Here, the liability to collect and deposit the tax rests with the seller, while the ultimate burden is borne by the end consumer.

Both Central and State Governments levy significant taxes in India. Additionally, Local Authorities such as municipalities and local governments have been empowered to levy and collect certain taxes and charges within their jurisdictions.

Over recent years, the Central and various State Governments have implemented numerous reforms in tax policy and administration with the objective of enhancing the ease of doing business, increasing predictability and transparency, and promoting automation in processes. The introduction of GST is a significant reform aimed at eliminating the cascading effect of taxes and simplifying the previously complex indirect tax structure.

As a firm of Chartered Accountants, MAG is committed to delivering expert consultancy services to ensure timely compliance with tax obligations. Taxation is a vast and specialised domain that demands accurate interpretation and analytical skills. Our team possesses the necessary expertise and technical acumen for efficient tax planning, administration, documentation, and representation.

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Domestic Taxation

Governments generate revenue primarily through domestic taxes. While the nature and scale of taxation vary across countries, it has evolved considerably over time. In India, key domestic taxes include Income Tax, indirect taxes on goods and services, and property taxes. Notably, wealth tax has been abolished in India for several years.

We offer taxation services to large multinational enterprises and private business houses, with a focus on developing innovative compliance strategies and tools that support business growth. Our professionals are adept at handling tax assessments and representations.

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1. Direct Tax

With constantly evolving tax laws, businesses must stay informed to avoid non-compliance, penalties, or prosecution. Structuring business operations tax-efficiently ensures compliance and reduces tax liability. Direct tax includes Corporate Tax and Personal Tax.
Gupta AR & Co. is among the top Income Tax Consultants in Delhi, offering expert tax advisory services and serving as a leading audit firm in West Delhi.

Personal Tax

Personal tax refers to tax paid on an individual’s income, separate from business earnings. We assist in filing personal tax returns, withholding tax, and advance tax payments, catering also to high-net-worth individuals. Our team represents clients before revenue authorities and provides resolutions to queries such as claiming income tax refunds for deceased individuals. We are among the few Chartered Accountants offering assistance to NRIs and non-residents, helping with tax returns and registrations, such as with the FRRO and obtaining PAN cards. As leading TDS consultants in Delhi, we provide comprehensive income tax consultancy services.

Corporate Tax

Corporate tax is imposed on profits earned by corporate entities registered under the Companies Act or other statutes. These companies are required to pay taxes as per rates prescribed under the Income Tax Act, subject to periodic amendments. Our firm offers services such as tax return filing, corporate tax planning, compliance management, legal opinions, and representation services. We are recognised as one of the best Income Tax advisors in Delhi.

Our direct tax services include:

• Tax Planning and Advisory

• Income Tax Return Filings

• Preparation for Income Tax Scrutiny Assessments and other Tax Proceedings

• Filing and Submission of Income Tax Appeals before CIT(A) and ITAT

• Representations before Income Tax Authorities

• Advance Tax, TDS Payments and Reconciliations

• E-Filing of TDS Returns & Form 16/16A

• Filing of Tax Audit Reports

• Applications for Lower Tax Deduction Certificates

• Capital Gain Calculations

• Assistance in Tax Litigations & Related Controversies

2. Indirect Tax

To mitigate the burden and risks associated with indirect taxes, it is essential to define effective compliance and tax strategies—this requires professional insight.
Gupta AP & Co. is recognised as a top Indirect Tax Consultant in Delhi. We assist with GST registration, return filings, refunds, representation before GST authorities, legal opinions, and annual/transitional compliances. Additionally, we handle matters related to service tax, customs, VAT & CST, and excise duties.

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3. Tax Litigations, Assessments and Representations

Incomplete or inaccurate submissions to tax authorities often trigger scrutiny assessments. In such scenarios, the department issues notices and initiates proceedings based on discrepancies found.

MAG offers assistance in the following areas:

• Income Tax Scrutiny Assessments

• Transfer Pricing Assessments and Litigations

• Representation before Company Law Board, Registrar of Companies, and Regional Directors

• Filing and Submission of Appeals before CIT(A) and ITAT

• Income Tax Appeal Hearings and Litigations

• Representations before GST Authorities

• Responding to Departmental Notices

• Processing Refunds under Income Tax and GST

International Taxation

The inflow of Foreign Direct Investment (FDI) and liberalisation has driven significant international business activity in India. Indian companies are also increasingly investing overseas. We offer comprehensive advisory on corporate structuring, tax treaty interpretation, relief from double taxation, transfer pricing, remittance assistance, and representation in cross-border tax matters. We are recognised as one of the best tax consulting firms in India.

Our international taxation services include:

• Transfer Pricing Matters

• Assistance with FIRC (Foreign Inward Remittance Certificates)

• Formation of Businesses in India

• Establishment of Branches/Liaison Offices/Permanent Establishments

• Filing Tax Returns for Non-Resident Indians (NRIs)

• Support with Foreign Direct Investment (FDI)

• Equalisation Levy

• Repatriation Assistance

For any assistance related to direct, indirect, or international taxation, you may reach us at guptaapandco@gmail.com Our experienced professionals are committed to providing the highest quality services in the field of taxation.