taxation consultancy & compliance

Taxation Consultancy Services

Over the years, SPARKS & Associates, Chartered Accountants have been recognized as creditable service provider for providing taxation  consultancy services in India. We at “SPARKS” strongly believe that Tax Consultancy is not just filing of the various Tax Returns but to ease out our client with the intricacies of the frequently changed Taxation Rules & Regulations. Tax laws change frequently, and many individuals and business owners are simply unaware of the myriad of rules that govern deductions, credits and reportable income. As a result, the average taxpayer may make mistakes that can result in the underpayment or over payment of taxes. If the taxpayer underpays his taxes, he may invite tax notices from the Tax Departments with possible penalties. If the taxpayer overpays his taxes, he loses money that's rightfully his.

We as your Tax Consultant can provide expert advice on the taxation compliances. A good tax consultant understands tax laws, and is able to advise tax planning under the ambit of the taxation laws that minimize obligations while also reducing the chance of getting tax notices. In addition, being a tax consultant, we also help our clients to access their accurate tax liabilities, filing their accurate Tax Returns, representing your business before the Tax Authorities, representing & filing appeal and other documents on behalf of clients.

In India, the Tax laws govern under two broad regimes, viz – Direct Tax and Indirect Tax.

DIRECT TAX

Direct Tax is a tax which is levied on the income or profits of the person who earns it is called levy of Direct Tax. In India, the Direct Tax is governed by Income Tax Act, 1961 and Income Tax Rules, 1962 which is subject to amendment every year by Government of India. With tax laws progressing each day, it is crucial for businesses to be cognizant with timely compliance challenges that may pose a threat and lead to penalties and prosecution. Having a tax efficient structure of your business will help in ease out the burden from entity's shoulders and thereby makes them an efficient tax compliant entity. The Direct Tax viz. Income Tax can be broadly classified under two limbs:

(a) Corporate Tax: Corporate tax is a tax levied on profits earned by various entities. The entities are those who are doing business in India under permissible structure of business like Partnership Firm, LLP, Companies registered under Companies Act or any other act for the time being in force. Such entities are obligated to pay such tax at a rate specified by Income Tax Act, subject to changes in rates from time-to-time. We assist organizations in corporate tax returns filing, advising on tax planning, tax compliances, opinions on complex tax issues and representations before tax authorities.
(b) Personal Tax: Personal tax is a tax levied on income earned by individuals whether resident or non-resident. We assist them in their tax planning and filing of their tax returns, opinions and representation before tax authorities.

INDIRECT TAXATION

Indirect Taxation, Indirect Tax is a tax levied on goods and services rather than on income or profits. The Indirect Taxation in India has gone under paradigm shift w.e.f. 1st July, 2017 on introduction of One Nation One Tax, Goods & Service Tax (GST). GST has replaced/subsumed many other indirect taxation makes the tax compliance easier to control. Having an indirect tax efficient structure of your business will help in making your entity an efficient tax compliant entity. The star rating for GST Compliances is one of the examples for recognising the tax compliance efficiency of an organisation which in turns will help in building your brand value amongst your customers. To curtail indirect taxation incidence and risk of assessments, significant tax and compliance strategy is essential to be designed, which in turn needs apt professional guidance and assistance. We provide services in GST, Custom, old issues of under Excise, Service Tax, VAT, Sales Tax, etc. Broadly we provide following services/support to make your organisation tax efficient:.

(a) Obtaining Goods and Services Tax (GST) registrations.
(b) Updating GST Registration details.
(c) Filing GST Returns.
(d) Tax Planning.
(e) Opinion on complex tax issues.
(f) Analysing the tax positions.
(g) Filing refunds claims.
(h) Representations before the tax authorities

Noida Office:
SPARKS & Associates,
Chartered Accountants,
7th Floor, Logix Office Tower,
Sector-32, Noida, Gautam Budh Nagar,
Uttar Pradesh – 201301 (India)
+ 91 1201-314-5573 / +91-9560-141-800