India Entry & Business Startup Consultings

Corporate and International Tax

Corporate and International Tax

Since the economic liberalization of 1991, India has been a preferred destination for large multinational groups for investing in India. As more and more multinational groups coming to India, understanding corporate and international tax laws in India becomes imperative to add more value to the stakeholders’ wealth. Direct tax in India is governed by the provisions of the Income-tax Act, 1961 (‘Act’). 

The Act provides for source-based taxation i.e. the income earned in India is taxable in India irrespective of the residential status of the person. The global income of a person resident in India is taxable in India and under the provisions of the Act credit of taxes paid outside India can be claimed in India. The Act provides for the special rate of taxation in case of non-residents depending upon the degree of their existence in India and the nature of their income e.g. interest income, income from business or profession, short-term and long-term capital gains, royalty income, fees for technical services, dividend income, etc. The non-residents who have earned income in India are required to file their tax returns in India in order to claim the credit of taxes paid in India in their respective countries.  

ASC Group believes in the “Make it easy” approach for providing services wherein we believe that the approach of service provided should be with a goal to make the work easier for the clients. We provide a broad way of services to make it painless for the clients so that they would not need to look out for different sources for strategic & tax-saving solutions. We have a whole-length team of tax professionals, rigged with years of tax awareness & experience of working with different sorts of clients. With our imperative “know-how” skills & strategic format of operations, we provide tax-saving consultancy & hassle-free services to balance between revenues & corporate taxes.

How ASC help?

  • Evaluation of Tax Treaties, Multilateral Agreements, Tax Information Exchange Agreement, Comprehensive Economic Partnership Agreement, etc. for taxability & relief 
  • Efficient Tax Structuring & Advisory on Cross border transactions like Engineering, Procurement & Construction Contracts (pre-bid & post-bid stage both) 
  • Advisory on OECD and analyzing transactions and preparation of Transfer Pricing Study/Reports and Issuance of Transfer Pricing Certificates
  • Evaluating & formalizing Advance Pricing Agreements
  • Compliances for Country-by-Country Reporting and Master File
  • Advisory on tax reduction under Double Taxation by assisting in Avoidance Agreement and identifying taxability of foreign companies in India
  • Structuring the mechanism for taxation of foreign portion salary and income of Expat in India
  • Drafting of Secondment/Dispatch Agreement, Employment Agreement, etc.
  • Providing assistance in registration with FRRO, VISA renewal, obtaining exit permit from FRRO and income tax clearance certificate from Income Tax Department
  • Determination of residential status and calculation of income tax liability on global income in India considering tax reliefs for income tax paid in the home country
  • Compliances for personal income tax return filing along with disclosure of foreign assets Corporate Income Tax Compliances for all International & Domestic business set-ups
  • Corporate Income Tax, Withholding Tax and Personal Income Tax Compliances & Return filing and Advisory on Tax planning for Corporates & Non-Corporates
  • Obtaining lower and concessional withholding tax certificate and other compliances under the Income Tax Act, 1961

 

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