In recent times, India’s tax environment has changed dramatically. Intending to increase transparency in the economy, the Indian Government has taken several measures to make organizations tax compliant. Various incentives in the form of tax advantages are being introduced to attract investments and promote economic development for setting up units in certain parts of the country. The corporate tax rates are being reduced and steps are been taken to phase out certain deductions.
However, the compliance burden to avail of these tax benefits and advantages has increased manifold making the tax landscape in India complex. The income tax return forms are more elaborate with even more detailed disclosures required. Non – disclosure of correct and complete information attracts penalties and increases the chances of litigation. Organizations need to ensure correct tax advisory in the light of the ever-changing laws and amendments.
Organizations not only have to adopt and adhere to the ever-increasing compliances, but also strategize and execute their business plans to minimize their tax liabilities within the framework of the existing regulatory framework. For this, our team of tax professionals is constantly in the process of decoding the complex tax structures to help clients keep at pace with the necessary compliances and address their tax concerns.
We offer integrated services – advisory and assistance to procedural compliances under both – Direct & Indirect Taxation.
A. Corporate Taxation and Compliance
Corporation Tax or Company Tax is a direct tax that is imposed on the net profits of a company. Our team of tax advisors and tax analysts are equipped with a deep understanding of organization needs to help clients perform better and meet their obligations. Our services include :
B. Tax Representations before Authorities and Dispute Resolution
With stringent and more complex tax structures becoming the norm of the day, revenue authorities are becoming even more active in enforcement activities in the entire tax spectrum. Under such circumstances, every organization needs technical support to understand the judicial framework of the jurisdiction in which the organization operates, resolve tax disputes and understand the tax implications of the various transactions undertaken by the organization.
Our team of tax professionals which also include former government officials who have hands–on experience in resolving tax disputes, handling tax litigation, and making tax representations both from the revenue and client perspectives support organizations to strategically plan their transactions to avoid tax litigations and disputes. However, in the wake of such disputes, we help represent the cases before the taxman, make presentations and settle disputes efficiently and favourably.
Our support services include :
C. Taxation of High Net worth Individuals (HNIs)
India is a high tax-paying country. HNIs in particular would be more affected by the higher tax rates owing to their various income and investment sources. Several reforms have been introduced by the Government in the last few years to make India a tax-compliant which directly impacts such HNIs.
We provide personalized services based on client needs. These include :
D. Taxation of Non-Resident Indians and Expatriate Taxation
Over the years, India has witnessed a large number of NRI’s increasing economic interests. Similarly, a large number of expatriates are deputed to India by foreign companies. However, NRI and expatriates often face challenges in terms of tax and regulatory compliances. Keeping in mind the issues faced by NRI’s and expatriates in India in regards to their taxation, UJA provides a personalized and comprehensive solution to NRI and expatriate taxations which includes :
The indirect tax landscape in India is in it’s evolution stage. Indirect taxes are levied at both central and state levels. Organizations are posed with the challenges to analyse their business structure from an indirect tax perspective and also make sure that the ever growing compliances in the form of reporting etc. are being taken care of.
Understanding these complexities, UJA advises clients in transaction structuring, advisory in GST, customs including legacy issues from excise, service tax, VAT and entry tax laws, restructuring for tax efficient business transactions, interpretation of complex tax laws, risk mitigation, representation at all dispute resolution forums from adjudication and appellate authorities. Advising on diverse spheres of trade and tax regulations including investment in Special Economic Zones (SEZs) and tax holiday regions, WTO trade protection measures such as anti-dumping and safeguard duty, import and export control, anti-profiteering norms, entertainment tax, legal metrology, drugs and cosmetics regulations, export incentive schemes amongst others.
A. Goods and Service Tax (GST)
The introduction of GST brought about a major reform in the indirect tax structure of the country. It was introduced to consolidate the multi layered tax system into one single tax. The introduction of GST has far reaching effects on the business operations of almost all organizations.
GST compliances were introduced on the “matching concept” i.e the buyers and sellers data need to be periodically matched to eliminate any tax leakages.
1. GST Advisory:
2. Compliances Under GST
B. Tax Litigation support
Foreign Trade Policy Matters
Foreign Trade Policy (FTP) was introduced by the Government to promote the Indian export of goods and services, generating employment and increasing value addition to the country.
Our services here assisting exporters in availing of the various incentives under the FTP