We at Khurana and Khurana provide quality Income Tax Consultancy and Compliance offerings with effective legal and financial strategies. K&K has a 30 member strong Tax Team headed by CA and Tax Attorneys CA. Anubhav Gupta and CA. Varun Khurana, who between them collectively have over 35 years of experience in representing clients for several direct and indirect tax matters across different tribunals and forums. K&K actively offers comprehensive Income Tax advice to companies as well as firms, individuals, etc, along with handling all associated litigations in the domain of direct and indirect tax across forums. We structure and implement the tax planning strategies based on client’s position and circumstances with due consideration and appreciation of the fact that tax laws are among the most dynamic laws in the world and require constant study by the attorneys to effectively deal with the client’s requirements.
We provide income tax advice in the following areas:
Depreciation: The decrease in the value of assets over time is taken into account as an expense.
Total cost of goods sold: This includes the expenses directly associated with producing or purchasing the goods that the company sells.
Selling expenditures: Expenses incurred in marketing, advertising, and promoting the company’s products or services.
Administrative expenses: Costs related to the general operations and management of the company, such as salaries, rent, utilities, and office supplies.
K&K focuses actively on assisting and representing clients for Drafting of Reply/Appeal to various Income Tax Notices issued by the Tax Authorities. Appearances before Tax Authorities, Income Tax Appellant Tribunals, High Courts, and Supreme Court.
By providing tax due diligence services, our primary objective is to thoroughly investigate the target company’s undisclosed tax expenses. Concurrently, we assess and report on any unused tax losses, available tax incentives, carried forward tax credits, and other relevant factors. This information is crucial for our clients in making informed decisions regarding the structure of merger and acquisition transactions, as well as post-M&A tax planning.
NRI Taxation Issues,Income Tax laws that are applied to NRIs are entirely different from those applicable to resident Indians. The major issue in NRI is double taxation meaning paying tax on the same income twice in the country of residence of the assessee and India by obtaining relief from DTAA (Double Taxation Avoidance Agreement) between the two countries.
International Taxation, services on transfer pricing are of paramount importance to multinational corporations operating in India, as they have to meet rigorous and mandatory documentation requirements. Expertise in Litigation, Customs, and Services valuation is all the more essential under the proposed Advance Pricing Arrangements with Indian pricing authorities.
Expatriate Taxation,Expatriates in India are liable to pay income tax and fulfill other obligations such as filing tax returns. At times, their employers may also withhold income tax. Expatriates may be subject to taxation on their worldwide income unless they have protection under the ‘Double taxation avoidance treaty. There may be tax incidence on expatriates who are beneficiaries under any employee stock options schemes. Under the Income Tax Act, 1961 the incidence of tax depends on the following: The residential status of taxpayer, provisions prevailing in the Assessment Year to which the incomes relate and whether the accrual/ receipt of such income has a nexus with India.
Taxation advisory on: