Taxation is one of the most complicated areas in a business. It involves various tasks such as advance planning, figuring out the taxes applicable, filing for returns, understanding foreign tax laws in case of international presence and strategic planning to reduce tax exposure. The regulatory rules keep evolving and challenges organisations to comply with the legislation. In the situation of non-compliance, a company can face serious legal consequences. Litigation procedures are required if a court case is initiated against any organisation for violating tax laws.
Every company or individual is subject to taxation on the income or profits earned. Tax advisory entails strategizing by experts to minimise tax exposure while staying aligned with the laws and rules. It is a consultation provided by tax specialists that helps construct smart plans to reduce tax load and strengthen compliance of individuals or entities.
Paying the tax on time is the duty of every organisation or individual, failure of which can result in legal action. Tax Compliance is adhering to the tax laws and rendering tax payments on time and in correct amounts. The Indian tax laws are governed under the Income Tax Act of 1961. Tax compliance is complex due to the constantly changing regulations and increasing digitization of revenue authorities. Therefore, staying on track with the continuous evolutions and developments in the field becomes essential. Further, the tax department must maintain transparency and updated financial information.
It is paid by the individual or firm directly to the government. Direct taxes are charged on income, profits and revenue. Examples of direct tax are income tax, corporate tax, capital gains tax, securities transaction tax, etc.
It is levied on the manufacturers or retailers, but they collect it from the consumers and then pay the government. Indirect taxes are charged on goods and services. For example, sales tax, service tax, Value Added Tax (VAT), excise duty, custom duty, etc.
Tax litigation refers to legal proceedings in the court in the case of non-payment of tax, delayed payment, fraud or unauthorised tax collection by the authorities. It operates in both domains of direct as well as indirect taxation. Litigation issues arise due to corporate restructuring, transfer pricing matters, valuation issues, cross border transactions, etc. Given the complex legal norms and delayed hearings, it is a difficult and time-consuming process.
Tax compliance and litigation are arduous processes that require a high degree of knowledge in the domain. Frequent changes in the regulations cause strain on the tax planners and result in mishappenings. Finance experts are proficient in dealing with tax matters effectively and can shed light on enhancing structures, avoiding risks and discrepancies in taxation. They can handle sensitive litigation through their command over the field and help resolve issues most efficiently. Poshway has a team of financial specialists adept at improving tax compliance and assisting in litigations.
Poshway has a decade of rich experience in the financial sector. Throughout our tenure, we have worked with multiple industries, resolved complex tax matters and aided companies in improving their tax-related structures. As this field is revolutionising technically, we direct companies towards automation and related technological upgrades. Our tax experts devise strategies to minimise the tax exposure of a company while staying compliant with the laws and regulations. Poshway's qualified professionals can handle your tax affairs, from planning to management to filing. Our team keeps an eagle's eye on the changing laws and provides value-adding solutions to mitigate risks and build robust structures to improve tax compliance. We diverge from common suggestions and formulate personalised advisory according to the business needs, types of taxes, implications, projects, etc.
Our scope expands to include the managing taxation of private individuals. We navigate through an individual's income, investments and other aspects to devise innovative plans that can achieve minimum taxation liability while abiding by the norms. With our extensive grab on local, national and international tax laws, we bring you sound taxation plans and intellectual advice. We possess experience in appearing before the court and authorities during tax litigation. We furnish documents and represent our clients in courts to solve tax disputes. Our qualified professionals imbibe a comprehensive understanding of legal codes and technical aspects and have experience investigating a range of taxation issues.
Expert tax planning, compliance, and advisory services to optimize your tax position and ensure regulatory compliance.
Tax litigation can be a costly, stressful and time-consuming affair. Our specialised services help you protect your rights and solve disputes effectively. We deliver bespoke tax solutions to guide you in crafting intelligent taxation strategies that result in minimum tax liability. Poshway’s solid foundation and updated knowledge of regulatory frameworks can ensure you stay compliant with tax norms while scaling to success.