Representational services includes represent the assessee before various tax authority. Representation required when assessee going through assessment process under various provision of Income Tax Act. Representation before tax authority itself expert Job and need skill and experience. Because he need to represent assessee and also give various question and query raised by tax authority. There are many types of tax assessment where representation is required i.e.
- Summary Assessment U/s. 143(1)
- Scrutiny Assessment U/s. 143(3)
- Best Judgement Assessment U/s. 144
- Reassessment U/s 147
- Block Assessment U/s. 153A
We have team of tax expert who have rich experience to represent the assessee case before tax authority and we successfully closed so many cases in past.
NRI Taxation is important service area in our firm. We are well equipped firm to handle NRI taxation matter. We proper analysis the all income related to NRI and apply all applicable provision to assessee. Today NRI taxation is complex and it need expert advice to proper filing of return because if we do not consider all aspect that it is possible to get notice in later stage so if we carefully analysis all aspect in beginning with proper professional than we don’t need to worry in later stage even at the time of assessment.
Tds is required to be deducted if the property sales transaction worth of Rs. 50 lacs or more, in that case 1% TDS need to be deducted by buyer from sales consideration. If sale consideration is less than 50 Lacs than not TDS need to be deduced by buyer. We should note here that TDS need to be deducted on whole consideration.as a buyer you don’t need to obtain TAN number to deduct TDS and in the case of seller obtain a PAN numbers must otherwise TDS amount will be @20% on while consideration. TDS need to deduct at the time of payment or at the time of giving credit to seller whichever is earlier. The TDS amount needs to deposit in 26QB form within 30 days at the end of month in which TDS has deducted. after deposit of TDS the buyer required to issue TDS certificate in form 16B. form 16B are available in tdscpc website after 10-15 days from deposit the TDS amount in 26QB form.
In budget 2017 new section was inserted section 26QC where if individual and HUF paying rent of Rs. 50,000/- or above than they need to deduct @5% on rent value. TDS can be deducted on yearly basic or during the year at the end of tenancy period. TDS need to be deposited within 30 days at the end of the month in which TDS was deducted and it has to be deposit through form 26QC challan form and that tenant should issue TDS certificate in form 16C within 15 days from the due date of furnishing of 26QC challan.