Income Tax Advisory

We at Khurana and Khurana provide quality Income Tax Consultancy and Compliance with effective strategies. We provide Income Tax advice to companies as well as firms, individuals, etc. We structure and implement the Tax planning strategies most effectively according to the client’s facts and circumstances. Tax laws are the most dynamic laws in the world and require a constant study by the attorneys to effectively deal with the client’s requirements.

We provide income tax advice in the following areas:

• Corporate Tax Law has experienced various amendments in India due to Globalization and changing facets of the business. Corporate tax is levied on both domestic as well as foreign companies which are not registered in India but have their operations and generate income in India. There are many Tax Incentives like setting up of businesses in Tax-Free Zones, Export Oriented Units and in SEZs (Special Economic Zones) are growing with several interpretations and documentation. Our Attorneys and Consultants have insight knowledge of the tax provisions including amendments and the Finance Act, 2019 to facilitate effective compliance.
• Drafting of Reply/Appeal to various Income Tax Notices issued by the Tax Authorities. Appearances before Tax Authorities, Income Tax Appellant Tribunal, High Courts, and Supreme Court.
• Tax Due-Diligence in setting up of a startup, business, filling of various documents to the Government authorities, etc. Besides central issues, Due Diligence includes a range of tax and regulatory issues such as exchange control, income taxes, indirect taxes, and capital market regulations.
• Personal Taxation Service (Resident or Non-Resident) includes advisory on these incomes from the assessee:
  • Income from the salary;
  • Income from agriculture;
  • Income from a house rented income;
  • Income from the sale of stocks or mutual funds;
  • Employee stock options (ESOP);
  • Income from the sale of a house property;
• NRI Taxation Issues, Income Tax laws that are applied to NRI’s 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 and 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 taxations 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.
• Taxations issues in Partnership/LLP firms

  Taxation advisory on:

  • Sale of capital assets
  • Tax deductions in capital gains, remunerations
  • Transfer of assets by a partner to the partnership firm and vice versa
• Trust Taxations Issues, setting up of a trust or an NGO requires knowledge of income tax provisions relating to charitable institutions/trust and the exemptions Tax laws. We at Khurana and Khurana can be a one-point solution for all your queries and issues relating to Trust Taxation.