Income Tax
Direct tax of country which provides the direct income of person based on residence capacity to be assessed and taxed in appropriate head of Income under Income Tax Act, 1961. It is an instrument of Government to collect the revenue from individual.
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Direct tax of country which provides the direct income of person based on residence capacity to be assessed and taxed in appropriate head of Income under Income Tax Act, 1961. It is an instrument of Government to collect the revenue from person residing in Country. But there in general there used to have various dispute and litigation in the case of Income tax computation and filing/paying taxes too.
Introduction
Income Tax Litigation is wide spectrum and has huge scope associated thereon. Dispute itself is not welcoming one but sometime it is inevitable. It can be arising out of any income item, expenses item, capex or any other reported in Income Tax Return of person.
Scope of Work
It covers in general the activity performed by us to provide assistance to our client in resolving the tax litigation.
- Assistance in strategizing tax litigation
- Explore alternative tax dispute resolution avenues
- Assistance in representation before the Commissioner of Income Tax (Appeals), Dispute Resolution Panel, and Income Tax Appellate Tribunal
- Assistance in preparation of advance ruling application and provide support for representation before the authority for advance rulings for settling tax position
Conclusion
It is advisable to have more focus and concentration on filing Income Tax Return with in depth study and implication of provision of Income Tax Act, in order to avoid or minimize the risk of being involved in tax litigation. It has cost to get settled or win/loss, as the case may be which can be avoided or minimized by just more focused on filing Income Tax Return.
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Connect with the Corpseed team to discuss your requirements at IVR: 7558640644 or hello@corpseed.com. It takes 20–25 minutes to discuss the requirement.
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