Income Tax is a tax that is imposed by the Government directly on the incomes which are earned by the entities within the taxable territory of the country. There are some exceptions where income earned outside the country is also taxed. Generally income is charged to tax in the assessment year following the previous year. In few exceptional cases they are charged in previous year in order to protect the interest of the Revenue. Income tax is an important part of the Indian tax structure affecting diverse persons including individuals, corporate, partnerships and others and therefore there are various rates of tax for different class of entities and categories.
In today’s world, taxation should be viewed as a dynamic item of cost, rather than a passive charge on the profits. Our team stays constantly abreast with changes in tax policies, administration & regulations and domestic & international jurisprudence. Although income tax is levied on almost every income but there are deluge provisions which requires professional handling. We endeavour to identify potential threats & opportunities and advise on appropriate strategies to mitigate exposure and optimize tax incidence on our clients. Therefore, sound financial decisions shall be backed by the right tax advice.
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