preloader-icon

Domestic Taxation & International Taxation

  • Services
  • Domestic Taxation & International Taxation

In today's global environment, taxation for organizations has become increasingly complex due to tax incentives, globalization, and evolving tax codes, rules, and regulations. We specialize in advising corporations on navigating the complexities of domestic and international tax operations, indirect taxation, compliance, reporting, and also offer dispute resolution services for direct and indirect taxes. Effectively managing local and foreign taxes is one of the biggest challenges and opportunities for multinational companies today, requiring alignment with overall business objectives and operations

Domestic Taxation

We provide comprehensive solutions for all Direct and Indirect Taxation matters, covering a range of compliance and representation services, including:

  • Corporate Tax Return
  • Tax Audit
  • Withholding Tax – Retainership & Advisory
  • Tax Consultancy and Advisory
  • Opinions on various transactions from domestic law to tax treaty viewpoint
  • Advising on tax planning opportunities
  • Taxation relating Certifications – 15CB, etc.
  • Conducting due diligence reviews and Health Check
  • Representation Services for Assessments before Income-tax officers
  • Appeal Proceedings before CIT(A) as well as Income Tax Appellate Tribunal
  • Assistance in appeal proceedings before High Courts and Supreme Courts (Preparation of case, Briefing Counsels)
  • Review of books of Accounts
  • Tax Audit
  • Preparation & Computation of Income & Taxes thereon
  • Preparation & Submission of ITR
  • Advisory on taxation matters

The Income Computation and Disclosure Standards (ICDS), implemented from 1st April 2015, represent a significant amendment in Indian Income-tax legislation. ICDS apply to the computation of income taxable under 'Business income' or 'Other Sources income'. These standards diverge notably from Indian Accounting Standards and can result in substantial tax implications for taxpayers..

We offer expertise in assessing ICDS with respect to the nature of business and transactions of taxpayers, providing insights into relevant tax implications and tailored advice accordingly.

International Taxation

At SNSK, we provide the following services under International Taxation:

Transfer Pricing legislation was introduced in India in 2001 to address tax avoidance by establishing guidelines for computing income from international transactions or specified domestic transactions ("SDTs") based on the "arm's length price". Our Transfer Pricing services provide practical solutions to companies engaged in international or specified domestic transactions with associated enterprises or group companies, including:

  • Transfer Pricing Analysis
  • Selection of the appropriate method
  • Benchmarking Analysis
  • Tax Consultancy and Advisory
  • Representing Transfer Pricing Cases before Transfer Pricing Officer/ Appellate Authorities

Managing taxes for expatriate individuals can be complex and requires specialized knowledge and experience to ensure seamless transactions. The challenges often start with form submissions but extend far beyond that initial step. Tax clearance, reviews, offshore banking, investments, and more come into play. While tax compliance is essential, optimizing tax liability through proper restructuring of transactions and assets is equally important.

Our team of experts meticulously handles every aspect, prioritizing the following key areas:

  • Entry meeting with Expatriates
  • FRRO registration
  • Review of Agreement
  • Preparation & Computation of Income & Taxes thereon
  • Preparation & Submission of Income Tax Return
  • Advisory on Taxation Matters
  • Obtaining Income-tax Clearance from tax authorities

Double Tax Avoidance Agreements (DTAA) are bilateral agreements negotiated between two countries, such as India and another foreign state. We assist our clients with DTAA Advisory services to mitigate the risk of double taxation arising from income and expenditure in both countries (i.e., the taxation of the same income by both countries) and address withholding tax issues and other compliance matters effectively.