Taxation is too Sahaj!

1. www.taXaj.com

3. Taxation is too Sahaj!
Taxaj
Corporate
Services
Pvt. Ltd.

4. What We Do
We not just meet but exceed client expectation
consistently by imbibing Teamwork, Professionalism,
Personalized Service & Specialization.

5. Smart Business Consulting
 Data & Analytics
To make better business decisions, challenge your
assumptions. We emphasize our Clients to Turn
information into insight with our latest data and
predictive analytics solutions.
 Customer Relationship Management
Building a strong relationship with your customers is as
important to us as it is to you. Tap into expert solutions to
connect with your customers.
 Business & IT Strategy
Our consultants create business strategies that enable
global companies to define new business and target
operating models to maximize value and manage complex
changes throughout their organizations.
 Enterprise Architecture Services
Maintaining business agility isn’t easy when technologies
and business requirements keep changing. Taxaj has an
approach to synergies Enterprise Architecture with
emerging technology platforms to harness new
opportunities.
 Business Process Services
Rethink how you run your business with the help
of our industry-savvy consultants. We improve
performance, enhance capability and drive growth
initiatives.
 Organizational Change Management
Successful organizational change is a top
management mandate. Our practice works with
executives on strategic and transformational
challenges.

6.  Digital Transformation
Taxaj Corporate Services enables organizations to create
engaging and consistent digital experiences across every
touch point, providing new opportunities for growth and
expansion.
 Supply Chain Optimization
We can help you re-wire your supply chain to improve
global trade, transportation, distribution, planning,
collaboration and forecasting performance.
 Quality Engineering & Assurance
If you don’t have the resources for testing, leave it to us.
Our world-class QA team and rigorous testing processes
provide the assurance your company deserves.
 Enabling Infrastructure
IT expectations are higher than ever. Our experts can
help you build and manage an IT infrastructure that
equals the demands of a changing business
environment.
 Mergers & Acquisitions
We provide strategic due diligence, business and IT
target-state definition, implementation planning,
governance support and change management.
 Program Management
We help leading companies drive business
transformation by providing industry-leading
program management consulting services.

9. Vision, Mission & Objective
 Our Vision
Our firm continuously
strives to be the Premier
Accounting and
Consultancy firm that
provides excellent service
to our clients and an
excellent quality of life for
our associates.
 Our Mission
We will predominantly
work with
organizations in the
charitable and
voluntary sectors as
partners to help them
achieve their desired
outcomes.
Our Objective
We are committed to
creating and sustaining
long-term relationships
which draw on our
experience and
expertise to help our
clients achieve real
success

10. Who we are
We are prominent Chartered
Accountants in India. We offer
services in New Delhi and other major
cities in India, like accounts
outsourcing, auditing, company
formation in India, Business taxation,
corporate compliance, starting
business in India, registration of
foreign companies, transfer pricing,
tax due diligence, taxation of
expatriates etc.

11. How we are Different!
Taxaj is a team of distinguished chartered
accountant, corporate financial advisors
and tax consultants in India. Our firm of
chartered accountants represents a
coalition of specialized skills that is geared
to offer sound financial solutions and
advices.
We Taxaj are a congregation of
professionally qualified and
experienced persons who are
committed to add value and
optimize the benefits accruing
to clients.

12. Services Offerings
 Company Formation in India
We give advice on Company
Registration in India and provide
 Starting Business in India
Business can be setup in
India in three types like
complete solution for
Company Formation
in India, Private
limited Company
Formation and
Company
Incorporation in
India.
Formation of liaison
office, Formation of
Project office and
Formation of
Branch office for
the Original
Organization

13. Global Cue
 Taxation of Expatriates
The employment of
expatriates and
foreign nationals
involves several
complex issues.
Whist the Indian
economy and
market place has
generally been less
attractive to
expatriates and foreign
workers.
 Foreign Investment Approvals
Foreign investment in India is
primarily governed by
the FDI policy
formulated by the
secretariat for
industrial assistance
(SIA), the Department
of Industrial policy and
promotion (DIPP).

14.  Corporate Compliance
Indian companies are governed
by Companies Act 1956 and
company has to comply with
various statutory
provisions
as per
different
sections of
Companies
Act 2013.
 Accounts Outsourcing
A refinance allows you to take
out new personal loans that pay
off your current mortgage.
Although you are then
obligated to make
payments on the
new top up card
loan, your costs
typically are lower
after refinancing.

15.  Auditing
Internal Audit is an
independent
appraisal function
established within
an organization to
examine and
evaluate its
activities as a
service.
 Business Taxation
Direct tax consultancy
together with
innovative tax efficient
strategies, provided
by us form an integral
part of viable business
decisions. These help
our clients attain the
desired goals.
 Transfer Pricing
Since 1991, with the
liberalization of trade and
foreign exchange policy
India has started
integrating its economy
with the global. It led to
increased cross border
flow of goods, services,
funds and intangibles.

16. Our Clients
Our client list includes domestic and international entities of various
sizes from different industries. We are a Business Taxation Firm India
and we ensure confidentiality and professional ethics, names and nature
of business of clients are not provided on the website.
When our Clients are Happy.
We are Ecstatic!
We recognize that client satisfaction is the key
to our success. Therefore, our service is
tailored to ensure that you receive the advice
you require to meet your individual needs,
regardless of size or complexity

17. Services
Business
Taxation
Auditing
Transfer
Pricing
Foreign
Investment
Approvals
Taxaj
Direct Taxation
Business Taxation
Capital Gains
Transfer Pricing Audit
Domestic Transfer Pricing
Prohibited Sectors
Direct & Indirect Investment
Auditing Overview
Internal Audit
Service Tax Audit

18. Company Formation In India
Taxation Of Expatriates
Corporate Compliance
Statutory Requirements
Registration Of Foreign Companies
Tax Due Diligence
Starting Business In India
Accounts Outsourcing

19. Foreign Investment Approvals
The government of India releases a compendium of FDI policy every six
months. Foreign investment in India can be made viz.
Approval/Government route
It requires prior approval from
the Govt. of India.
Automatic Route
No prior regulatory approval is required from
either the RBI or FIPB.
Investors are required to notify RBI within 30
days.

20. Auditing
If you own a business, the annual Audit can sometime feel like a time-taking
and expensive process that only benefits the statutory authorities.
 We provide following Audit Services
 Internal Audit Services / Concurrent
Audit Services
 Management Audit Services
 Operations and Efficiency Audit Services
 Special Investigative Audit Services
 Due Diligence Review
 Costing and Accounting System Design
and Review
 Compilation of final accounts as per
accounting standards of US GAAP
 Internal Audits
We make sure all your onerous
reporting requirements are met as
painlessly as possible- keeping banks,
creditors, finance providers, and even
the Inland Revenue, happy.
But more than that – we aim to offer
you the kind of business advice that
could help you to run your company
efficiently and cost-effectively. We
also offer expert corporate tax
planning advice, to make sure you’re
as tax-efficient as possible.

21. Transfer Pricing
Person or association involved in an
international transaction should maintain
record of transaction
Arm’s length price will be calculated as
the average of the prices if more than one
price assumed for transaction.
Some of the Calculating methods are the
resale price method, cost plus method,
comparable uncontrolled price method,
and transactional net margin method.
The following are the important statutes of the law for Transfer
Pricing Audit.
Form 3CEB has to be filed before
he files the Income Tax return of
the same period.
Central Board of Direct Taxes has
methods for calculating income
from international transactions.
Form 3CEB needs to be signed at
each financial year under the
guidance of a Chartered
Accountant.

22. Company Formation In India
 There is no need to appoint local director
to incorporate a company in India.
 Foreign nationals can incorporate
company in India and hold foreign equity
to the extent of 100%, which is
dependent upon sector in which
company will operate and is subject to
approval from either Reserve Bank of
India (RBI) or Foreign Investment
Promotion Board (FIPB).
 Applicable law The Indian Companies
Act, 2013
 Director Identification Number (DIN)
 Acquiring Digital Signature certificate
(DSC)
 Name Approval of the company
 Memorandum of Association; Articles
of Association;
 Information about directors,
managing directors, managers and
secretary must be submitted in a
prescribed Form 32
 Information about the registered
office in prescribed Form 18

23. Business Taxation: Existence of Tax credits
 Indian tax law authorizes the Indian
Government to enter into an
agreement with the government of
any other country to grant relief in
respect of income on which taxes
have been paid in both countries, to
avoid double taxation of income, to
exchange information for the
prevention of evasion or avoidance
of income tax and to recover income
tax.
 Unilateral relief is also available,
mainly to persons who are resident
in India.
 Indian tax laws do not contain any
provision for tax sparing. Double tax
relief is granted but only with reference
to tax actually paid. Likewise, tax treaties
entered into by India usually do not
provide for tax sparing.
 The Finance Act 2006 introduced a new
sec 90A, whereby any association in
India may enter into agreement with
counterparts outside India.
 The foreign country must be one with
which India has no tax treaty and the tax
must actually have been paid in that
country.

24. Direct Taxation
 Income Tax & Withholding Taxes
 Advising on Income Tax Planning of Corporate.
 Advising & reviewing of all necessary tax
withholding responsibilities.
 Advising all financial subjects which are of your
interest and keeping you updated on the new
amendments, circulars, notifications &
judgments.
 Verification of all payments to vendors for the
purposes of determination of correct
application of rates and category for deduction
of withholding taxes.
 Filing of quarterly E-TDS Returns.
 Computation of monthly TDS on
the basis of above.
 Monthly tax reconciliation of the
TDS due and deducted.
 Preparation and deposit of
Monthly challans on or before
the statutory due dates.
 Filing annual Income Tax return.
 Work out the Exclusions allowed
in the specific heads and advise
the company for the re-
classification of the Expense
Heads, if any.

25.  CERTIFICATION WORK
 Issuance of Chartered Accountant
certificates u/s 195 required for the
Overseas Remittances purposes
from time to time.
 FRINGE BENEFIT TAX
 Classification of all the expenses
from Voucher level (Payroll related
and other General Profit and Loss
account heads) covered under the
FBT and work out the financial
deposits to be made to Government
on quarterly basis.
 Advising organization on regular
basis on the legal updates
pertaining to this.
 Applying of latest tax provisions in
this regard.
 Annual filing of the return for the
same.
 Compiling the details of Fringe
Benefit Tax (FBT) after every
quarter.
 Auditing of amounts to be covered
under FBT pertaining to
organization.

26. Indirect Taxation
 Compiling and calculating the net
service tax on output services after
taking benefit of Cenvat Credits.
 Compiling the data of Cenvat
Credits for service tax.
 Preparing & Filing of Service tax
Returns.
 Advising on the issues relating to
Service tax.
 Consultancy on the maintenance of
prescribed records.
 Tax Planning as regards the
minimization of Service Tax Liability.
 VALUE ADDED TAX (VAT)
 Rendering assistance in registration
under VAT
 Assistance in claiming input tax credit
 Assistance in furnishing tax returns and
claiming refunds
 Advice on the legal aspects of VAT
 Rendering advice on the wide range of
issues in relation to tax invoices and
retails invoices
 Internal Audit and Compliance Reviews
 Helping with audit of accounts necessary
for a registered dealer

27. Capital Gains
 Capital asset
 Profit from sale/transfer of a capital
asset.
 Property held by an assessee, excluding:
 Any stock-in-trade, consumable stores
or raw materials held for the purposes
of business or profession; Personal
effects, namely, movable property
jewellery, archaeological collections,
drawings, paintings, sculptures or any
work of art; Agricultural land in India,
subject to certain conditions;
 Certain specified government bonds.
 A long-term capital asset is what held by
an individual for more than 36 months
immediately preceding its date of
transfer. However, the following are
treated as long-term capital assets, if
held for more than 12 months:
 Shares held in a company;
 Other securities listed in a recognized
stock exchange in India ;
 Units of the Unit Trust of India or
specified mutual funds.
 (Sec 2(29A) and 2(42A) of the Income-
tax Act, 1961)

28. Special Provisions In Expatriates Taxation
1. Remuneration received by a foreigner
as an employee of a foreign enterprise
for services rendered in India is not
subject to Indian income tax,
provided:
 It’s is not engaged in any
trade/business here;
 He is not present in India for more
than 90 days in that year; and
 the remuneration is not liable to be
deducted in computing the employer’s
taxable income in India.
2. A foreigner ( including NRI) who was
not resident in India in any of the four
financial years immediately preceding
the year of arrival in India is entitled to
a special tax concession, if provided:
 the foreigner has specialized
knowledge and experience in certain
specified industries; a and
 the individual is employed in any
business in India in a capacity in which
specialized knowledge and experience
are used.

29. 3. A visiting foreign professor who
teaches in any university or educational
institution in India is exempt from tax
on remuneration received during the
first 36 months from the date of arrival
in India. However the individual should
have not been a resident in India in any
of the four financial years immediately
preceding the year of arrival in India.
4. Salary received by a non-resident
foreigner in connection with
employment on a foreign ship is exempt
from tax if the employee’s stay in India
during a year does not exceed 90 days.
5. Exemptions under specified
circumstances for the following:
 amounts receivable from a foreign
government or a foreign body by a
foreigner for undertaking research in
India under an approved scheme;
 remuneration received by employees of
a foreign government during training
with the Indian government or in an
Indian government undertaking; and
 remuneration received by non-resident
expatriates in connection with the filing
of motion pictures by non-resident
producers.

30. Corporate Compliance
1. Incorporation of company
2. Filing of documents with Registrar of
Companies
3. Conducting Statutory Audit at the year end.
4. Assistance in drafting Director’s Report
covering statutory points to be covered
5. Assistance covering Annual General Meeting
and Statutory Compliance thereof.
6. Statutory provisions relating to various
meetings like Board Meetings, Statutory
Meetings, their due dates and documents to
be filed with Registrar of Companies.
7. Consultancy for other different provisions as
applicable to company.
 All private and public companies
are required to have a minimum
paid-up capital of INR 100,000 and
INR 500,000 respectively
 Types of Shares:
Cumulative and Non-cumulative
preference shares.
Convertible and Non-convertible
preference shares;
Participating and Non-participating
preference shares; or
Redeemable and Irredeemable
preference shares.

31. Annual Return
An Indian company with a share capital must, within 60 days of its
annual general meeting, file with the Registrar a return containing the
required particulars pertaining to:
 The Companies
(Amendment) Act, 1999
introduced provisions
relating to buy-back of
specified securities by a
company (Companies Act, sec
77A, 77 AA and 77B).
 its registered office.
 the register of its members and debenture
holders;
 its shares and debentures;
 its indebtedness;
 its members and debenture holders (past and
present); and
 its director and managing directors (past and
present).

32. Registration of Foreign Companies
 A certified copy of the charter,
memorandum an articles;
 Full address of the registered, or
principal, office of the company;
 List of particulars of its directors and
secretary;
 Particulars of persons resident in India
authorized to accept service of documents
on behalf of the company; and
 Full address of the company’s principal
place of business in India.
Bodies with jurisdiction
 The statutory bodies, which mainly
exercise jurisdiction over foreign
companies, are:
 The Central Excise Department;
 The Commercial Taxes
Department;
 The Income Tax Department;
 The Reserve Bank of India;
 The Department of Industries; and
 The Registrar of Companies.
A foreign company which establishes a place of business in India is statutorily
obliged to deliver:

33. Liquidation of a foreign company
A company is deemed to be unable to pay its
debts when:
 A creditor, to whom the foreign company
is indebted in a sum exceeding INR
100,000
 Execution or other process issued on a
decree or order of any court or NCLT in
favor of a creditor against the foreign
company (or any member thereof as
such) is returned unsatisfied in whole or
in part; or
 It is otherwise proved to the satisfaction
of NCLT that the foreign company is
unable to pay its debts.
When a foreign company ceases to
carry on business in India, it may be
wound up in India as an unregistered
company even though the foreign
company has been dissolved or
otherwise ceased to exist under the
laws under which it was incorporated.
A foreign company may be wound up if:
 The foreign company is dissolved, or
has ceased to carry on business, or is
carrying on business only for the
purpose of winding up its affairs;
 The foreign company is unable to
pay its debts; and

34. Tax Due Diligence
A tax due diligence is normally carried out to:
 Validate the representation made by the
seller at the time of pre-deal negotiations.
 Validate the assumptions made by the
buyer in valuing the target.
 Identify any material tax exposures that
may be residing with the target.
 Identify any material upsides (potential
tax benefits not envisaged by the targets)
 Structure the deal in a tax-efficient
manner.
The items of tax information
available in the financial
statements are as follows:
 Review of contingent liabilities
 Review of tax provision and tax
paid in the balance sheet
 Analysis of deferred tax
 Analysis of effective tax rate
 Review of MAT paid and MAT
credit

35. Review of the tax provision
Review of the tax provision and taxes paid in the balance sheet:
Normally the balance sheets of targets disclose the tax provision and taxes
paid as of the balance sheet date in two possible formats, as given below
Format 2
The tax provision and taxes paid are netted off,
and the net figure is shown in the balance sheet.
Where the net figure represents the excess of taxes
paid over tax provision, it is disclosed under the
loans and advances section of the balance sheet.
Where the net figure represents the excess of tax
provisions over taxes paid, it is disclosed under the
current liability section of the balance sheet.
Format 1
The tax provision is
disclosed separately under
the current liability section
of the balance sheet, and
the taxes paid are disclosed
separately under the loans
and advance’ section of the
balance sheet.

36. Starting Business In India: Liasoning Office
Under the current exchange control regulations, a liaison office is permitted to:
 Represent the parent companies;
 Promote import/export;
 Promote collaborations between parent companies and companies in India;
 Act as a communication channel between group companies.
Typically, a liaison office is not permitted to:
 Earn any income;
 Undertake any industrial, trading or commercial activity;
 Enter into any agreement on behalf of the head office;
 Borrow or lend money for any commercial activity;
 Charge any fee or commission or otherwise earn any income.

37. In case a foreign company wishes to establish a business presence in India for the
limited purpose of executing a project, it may establish a project office for its Indian
operations. The objective behind establishment of a project office is to enable a foreign
company to establish a temporary base in India for executing specific
projects/contracts.
 A foreign company may open a project office in India for executing a contract
secured by an Indian company without the prior permission of RBI provided the
following conditions are satisfied:
 The project is funded directly by inward remittance from abroad;
 The project is funded by a bilateral or multilateral international Financing Agency;
 The project has been cleared by an appropriate authority;
 A company or entity in India awarding the contract has been granted term loan by a
public financial institution or a bank in India for the project.
 In all other cases, prior approval of the RBI is required to establish a project office
in India.
Starting Business In India: Project Office

38. In the case where a foreign company wishes to undertake trading or commercial
activities in India without establishing/investing into an Indian company, it may
establish a branch office in India, with the prior approval of RBI, for undertaking certain
specified activities, viz.
 It can undertake only RBI approved
activities to:
 Undertake the import/export of goods;
 Give professional/consultancy
services;
 Carry out research work in which the
parent company is engaged;
 Promote collaborations between
Indian companies and parent/overseas
group companies;
Starting Business In India: Branch Office
 Represent the parent company in India
and act as buying and selling agents;
 Render services in information
technology and development of software
in India;
 Render technical support to the
products supplied by the parent/group
companies;
 Operate as a foreign airline/shipping
company.

39. Accounts Outsourcing
The service involves preparing and maintaining day to day bookkeeping and
monthly or quarterly management accounts. These books are prepared as
per the US GAAP accounting standards and can also be made as per specific
client instructions.
 Checking Form 16 for the Employees
and file Qtly. returns for e-TDS with
Income Tax authorities.
 Deposit TDS & provide proof of
deposit.
 Ensure redressal of any issues.
 Reconciliation of payments/statutory
deductions etc. with books of
accounts on quarterly basis.
 Preparation of Financial Statements
 Preparing a company’s annual accounts
and schedules ready for the statutory
annual audit.
 Monthly Payroll based on inputs.
 Ensure deductions of all relevant
amounts and as per applicable statutory
laws like Income Tax, provident Fund
and Professional Tax etc.

40.  The service involves helping the
clients make necessary periodic
income tax, sales tax and other
returns. It also includes helping
the client make sound investment
decisions and help him avail
various rebates and deductions.
 Cash Forecasting
 The service involves analyzing the
cash requirements of the business
and making cash forecasts for
planning the future.
 Advantages
 Time saving
 Analyzing the potential risks in
advance
 Correct interpretation of the
company’s financial position
 Informed and better managerial
decision making
 Collection, summarization, and
accurate analysis of financial data
 Optimization of business resources
and processes
Accounts Outsourcing: Tax planning & Returns

41. Why Taxaj?
We are team of qualified & experienced professionals who
add value & optimize the benefits for the clients, everyday.
Qualified Team
The organization is
a congregation of
professionally
qualified &
experienced
person.
Robust service
We offer sound
financial solutions
and advices that
help you achieve
your milestone
with each.
Legal Services
We provide services
like company
formation and
company
incorporation in India
and help in doing
business in India
Taxation service
Direct tax consultancy
together with
innovative tax efficient
strategies, provided by
us form an integral part
of viable business
decisions.

42. Taxaj Appeals:
 We urge the Young brain to not to let the spark
Within die. But to change that spark to inferno with
an Idea. Our PM Modi is asking all Indians and
Focusing Intensely on Start Up India, Stand up India.
We must stand strong to support the initiative. Let
Every Indian Brain Get Crazy Coz if your Idea is not
Crazy… It’s Definitely not a worth!

43. Get in Touch:
Shivesh Jha
Ph: +91-9830-916-456
+91-8961-228-919
663, Paschim Puri,
Pocket – 1
Paschim Vihar,
New Delhi - 110063
mytaxaj
mytaxaj
mytaxaj
mytaxaj@gmail.com

44. When Our Clients are Happy
….We at Taxaj are Ecstatic!
…….Awaiting Your Query!