Direct Tax Advisory Services

At SGA, we are focused on exploring opportunities and leveraging them to enhance the advantage to the clients in the form of significant tax savings.

We at SGA provide the following Direct Tax Advisory Services :

  • Corporate and Personal Tax Compliance
  • Tax Planning for Corporate and Individuals, Residents & Non-Resident Indians
  • Tax Planning for Overseas entities desirous of setting up a business in India
  • Transfer Pricing Audits U/s. 92 E (in select cases)
  • Tax Audit U/s. 44 AB of the Income Tax Act, 1961.
  • Certification for Form 15CB required by Residents and Non Resident Indians for remitting funds outside India.
  • Representation Services at various Tax Authorities

It is crucial for both corporate houses and individuals to follow all the Income Tax compliances completely. These compliances can be very technical, so it is conducive to get an expert who has proper knowledge and experience in this field. As one of the leading Tax Consultants in Pune, we at SGA help our clients to execute their tax compliances appropriately and under the timeframe.
Over time, it has been seen that majority of the Income Tax compliances are done through online modes, and for this, specialized knowledge and expert guidance are required. SGA provides one of the most reliable tax services to all its clients from diverse sectors.

The Indian Taxation system is broadly divided into two-part given below :

  • Direct Taxes (Income Tax)
  • Indirect Taxes (Goods and Services Tax)

Direct Tax Advisory:

Out of all other subjects, taxation is one of the most complicated ones. This is why there is a requirement for professional help as it will keep the person updated with all the frequent changes and amendments in the Income Tax laws. The expert will also provide the proper guidance regarding tax planning and documentation work. Even a minor mistake in tax submission can cost huge money to an assessee.

The Direct tax advisory services by SGA offer the best solutions that will help in the efficient management of tax affairs. The Income-tax consultants at SGA in Pune have the aptitude to provide expert advice in tax planning.

Frequent changes are happening in the Indian taxation system, so the decisions made for the tax planning should be according to changes. Even the experts conduct the in-depth analysis of the changes in the Income-tax laws, and the reports are properly communicated with the clients about the changes. Everything in the reports is explained in simple and layman language.

Every individual income earned in the financial year is liable to pay taxes as per the rules set by the Indian government. The financial year starts on April 1 and ends on March 31 of the following year. The Indian taxation system is based on the concept of residence that divides the taxpayers into two broad categories, i.e., residents and non-residents. Even there is a category in individual taxpayer termed as “residents but not ordinary residents.”

Even the Indian company is considered to be a resident of India and is liable to pay tax. Even any other company whose affairs are fully managed and controlled by Indians is also a resident of this country. Apart from this, any other company would come under the non-resident category.

Resident Companies :

In general Indian resident companies are liable to tax at 25% plus surcharge & education cess as applicable from the Financial Year 2018-19.
It is also important to note that from Financial Year 2020-21, Dividends distributed by the company are taxable in the hands of the shareholder.

Tax Rates for Corporates:

Total Turnover Or gross receipt during the previous year 2017-18 does not exceed RS 400 crore 25%
Companies opting for Section 115BA, provides that the income from business of a newly set up domestic company on or after 1st March 2016, engaged in business of manufacture or production of any article or thing and research in relation thereto, or distribution of such article or thing manufactured or produced by it, subject to conditions specified therein. 25%
Companies opting for Section 115BAA, when total income of the company is computed without claiming specified deductions, incentives, exemptions and additional depreciation. 22%
Companies opting for Section 115BAB, for the domestic companies, engaged in manufacturing activities and incorporated on or after 01-10-2019 15%
Any Other Domestic company 30%
Foreign Companies 40%

Non-resident Companies :

Non-resident companies are typically liable to tax at 40% plus surcharge & education cess as applicable. However, income from long-term capital gains is taxable at the rate of 20% plus surcharge & education cess as applicable.

A Tax Audit is an audit, made compulsory by the Income Tax Act, if the annual gross turnover/receipts of the assessee exceed the specified limit. Tax audit is conducted in Sec 44AB of the Income Tax Act by a Chartered Accountant.

Applicability of tax audit:

Business Sales / Turnover or Gross Receipt exceeds INR. 1 Crore (INR. 5 crore if the cash receipts and payments do not exceed 5% of the total receipts and payments respectively)
(For Ex. Architect, Advocate, Accountants, Doctors, etc.)
Gross Receipts Exceeds INR 50 Lacs
Business u/s 44AD If the Sales/Turnover or Gross Receipt is less than INR 2 Crore if such person is enrolled under the presumptive taxation scheme who claims that the profits of the business are lower than the profits calculated in accordance with the presumptive taxation scheme (presently this threshold limit is 8% profit on the sales / turnover or gross reciepts) would be required to obtain a tax audit report.
Profession u/s 44ADA Declaring the income at amount less than 50% of the gross receipts and whose income exceeds the basic exemption limit (which is Indian Rs 2.50 lacs at present) for relevant previous year but whose gross receipts are less than INR. 50 lacs.

If the assesses who is qualified under the presumptive taxation scheme but opts out of it after a specified period, he would lose the ability to revert back to the presumptive taxation scheme for a continuous term of 5 assessment years after the decision to opt out is taken.

30th September is the due date to filing tax audit report under Section 44AB of the Income Tax, 1961 in India for all the assesses.

If a taxpayer who is required to obtain tax audit does not get the accounts audited, before the due dates, then penalty could be levied under Section 271B of the Income Tax Act.

  • 0.5% of the total turnover/gross receipts of the relevant financial year.
  • OR
  • Rs. 1,50,000. Whichever is lower.

However, according to the section 273B, no penalty would be imposed on the person if valid reason for such failure is proved. Thus, tax audit is a very important requirement under the Indian Income Tax Laws who are required to undergo such an audit. Failure to comply with the income tax rules would attract penalty and those wishing to avoid any penalty should ensure full compliance with all the rules of the income tax audit.

In India, Chartered Accountantsholding Certificate of Practice issued by the Insititute of Chartered Accountants of India will audit the accounts and prepare the report as prescribed in Income Tax Act..

Form 3CA, 3CD

Audit Report Form in case where accounts of an assesses has been audited under any other law.

Form 3CB, 3CD

Audit Form in case accounts of an assesses are not being subject to audit under any other act except Income tax Act.


A direct tax levied by the state on its citizens' income. Income does not merely mean pay. It also covers rental income, corporate earnings, professional gains (such bonuses), capital gains, and "other kinds of income."

In India, all wages are considered to have been earned there. Therefore, even if you charge a fee for a service delivered in India, you are still considered to have earned revenue in India.

A person's annual income is subject to income tax. The year begins on April 1 and ends on March 31 of the following year, which is the tax year.

Any Indian citizen under the age of 60 who earns more than Rs 2.5 lakh gets taxed. If a person is above 60 and earns more than Rs. 3 lakhs, they must pay taxes to the Indian government.

New provision 6(1A) of the Income-tax Act, 1961. Such a person is considered an Indian resident only if his domicile, residency, or other comparable factors exempt him from taxation in any other nation or jurisdiction.

Income tax returns must be filed by everyone who earns any money in a given year. From a wage, firm profits or rental or dividend income to capital gains or interest or any other form of income, all comes under the category person’s income.

Non-operating capital receipts include profits from the sale of long-term assets, capital invested by the owner, and sums received as a loan or from debenture holders. Revenue receipts consist of sales, commissions, and investment interest, all contribute to the company's annual revenue.

There are three primary methods in which the government collects Income Taxes: Source-Separated Taxes (TDS) Paying Taxes Only Once (TCS) Bank accounts designed for tax-payer contributions.


Sachin Gujar & Associates,
Chartered Accountants
47/22, Erandwana, Law College Road,
Ekta Apts, 3rd Floor, Above Nirmitee Furniture,
Pune - 411004

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