We, JKPP & Associates, understand the impact of constant developments in tax and regulatory mandates. Our expert team strategically uses them to benefit the business activities conducted by your firm.
We also help in providing representation services, wherein we represent the client before various tax officials in all appeals and proceedings before tax authorities.
Our tax compliance services and reporting services include tax audit as per the provisions of income tax laws, monthly compliance of tds from client records, filing of returns on a timely basis, and more.
The primary role of a tax consultant or a tax advisor is to help people and organizations in paying their taxes. They hold expertise in tax law, tax compliance, and tax planning. They help in making tax returns and work closely with their clients to minimize their tax liabilities throughout the year.
Income-tax is levied on the annual income of a person for the said financial year starting from 1st April and ending on 31st March of next calendar year. The year in which income is earned is called as previous year and the year in which the income is charged to tax is called as assessment year.
Under the Income-tax Law, the word income has a very broad and inclusive meaning. In case of a salaried person all that is received from an employer in cash, kind or as a facility is considered as an income. For a businessman his net profit will constitute his income. Income may also flow from investments in the form of Interest, Dividend, Commission, etc. Further, income may be earned on account of sale of capital assets like building, gold, etc.
Income shall be computed as per relevant provision of Income-tax Act, 1961 which lays down detail condition for computation of income chargeable to tax under various heads of income
Income-tax Department maintains the database of the total tax paid by the taxpayer (i.e., tax credit in the account of a taxpayer). Form 26AS will reflect the details of tax credit, demand, refund, proceeding (completed/pending), specified financial transaction appearing in the Permanent Account Number (PAN) of the taxpayer.
Tax Litigation means any claim, legal action, proceeding, suit, litigation, prosecution, investigation, arbitration or other dispute resolution process, or administrative or criminal proceedings, or regulatory agency action relating to Tax.