Income Tax including Wealth Tax and Withholding Tax (commonly referred to as TDS i.e. Tax Deducted at Source) are the direct taxes levied in India. The Indian Government in its quest to expand the tax base in India is dynamic on the tax front posing tax challenge to the taxpayers in India whether corporate or non-corporate having significant influence on business and investment decisions, be it with respect to domestic or international transactions.
We help meet the tax challenge in the complex business environment ensuring proper tax compliance coupled with optimizing the tax incidence through effective tax planning and structuring of the taxpayers and their transactions.
Our ambit of services in the direct taxation arena starts from initial tax registrations, day to day tax compliances, tax advisory to litigation support services with prime focus on ensuring proper tax compliance coupled with optimizing the tax incidence. The services are as under.
We also render specialized services to Foreign Institutional Investor ('FII') Services as under.
Vat / Sales Tax are state level taxes levied on sales of goods (including computer software), work contract and hiring of goods. Since the introduction of VAT (Value Added Tax), compliance requirement have increased manifold and require expert services for maintenance of records and calculation of tax liability. AJA LLP provide following services for compliance with VAT / Sales Tax:
Service tax is a central tax, which has been imposed on certain services and is the latest addition to the genus of indirect taxes like customs and central excise duty. Service Tax is collected by Central Excise Department.
Profession Tax is levied on any "person" means any person who is engaged actively or otherwise in any profession, trade, calling or employment in the State of Maharashtra, and includes a Hindu undivided family, firm, company corporation or other corporate body, any society, club or association, so engaged, but does not include any person who earns wages on a casual basis.
Profession tax is also levied on all employees whether Government or any subsidy of State or Central Government and also employees of Private firms and organizations. "salary" or "wage" includes pay or wages, dearness allowance and all other remunerations received by any person on regular basis, whether payable in cash or kind, and also includes perquisites and profits in lieu of salary, as defined in section 17 of the Income-tax Act, 1961, but does not include bonus in any form, and on any account or gratuity. This Profession Tax is deducted from employee’s salary and paid to the Government treasury.