Tax Services – Domestic and International

Helping with tax challenges, wherever you are in the world. 

If you’re a global business juggling complex and diverse tax rules of multiple markets, it can be hard to stay on top of what can seem like ever-changing regulations. RSM can help solve your tax challenges, offering in-depth, up-to-date knowledge of the relevant local rules and regulations. Through collaboration with our tax professionals across all relevant jurisdictions, we are able to provide you with seamless advisory and compliance solutions for taxes in India and international tax law.

Broadly, our domestic service areas in tax cover:

Indian tax law is well structured, wherein the power to levy taxes is clearly demarcated by the constitution between the central government, the state governments and local bodies. Taxes in India can broadly be classified into direct tax and indirect tax. Some of the major taxes levied by the central government are classified below:

  •  Direct tax: 
  •  Income tax
  •  Wealth tax
  •  Indirect tax:
  •  Customs duties
  •  Central excise
  •  Service tax

Since July 2017, the Goods and Services Tax (GST) has made the taxation system more dynamic in terms of effective administration, creating efficient tax collection and reducing the cascading effect of taxes in India.

We provide practical, commercially focused and socially responsible solutions for both multi-national and Indian companies, as well as expatriates and non-resident and resident Indians. Our extensive knowledge of taxation practices and detailed understanding of both international tax law and Indian tax law leaves us expertly positioned to help your business. Our procedures follow globally regarded best practice, and our regular interaction with international tax authorities ensures we maintain this at all times.

We are a leading service provider in matters of direct and indirect tax, covering the full spectrum of Indian and international tax law and key regulations including transfer pricing, service tax, VAT, central excise and GST.  We can also assist you with numerous specialised service areas, with experience in business set up in India and overseas, not to mention corporate business structuring, transaction advisory and multiple other avenues.

How we can help

  •  Provision of effective taxation strategy for corporates and non-corporates through consideration and application of various tax holidays and benefits under the existing taxation regulations
  •  Advising on taxation and exchange control regulations for investments or setting up of business in India and abroad
  •  Evaluating the existing compensation structure of employees and suggesting tax efficient improvements
  •   Advisory on withholding tax, assistance in seeking advance rulings on international tax issues and representation before tax and judicial authorities in assessment and appeals
  •  Handling and representation in income tax search, seizure and survey cases
  •  Expatriate taxation advisory services
  •  Advising on corporate structuring and transaction advisory services with a view to optimize tax incidence
  •  Assistance and training for compliance around Goods and Services Tax (GST)


Why choose RSM for your tax services?

  •  RSM is the world’s seventh largest network of audit, tax and consulting firms and the sixth largest global provider of tax services by revenue
  •  RSM in India is consistently ranked amongst India’s top six accounting and consulting groups*
  •  Extensive experience in advisory, tax and accounting matters across various sectors
  •  Dedicated team of highly qualified, experienced and trained professionals
  •  Full knowledge of India tax law, as well as international tax legalities

For more information on how RSM can assist you with taxes in India, contact us today.

* Please visit our legal section to know about the legal structure of the RSM network and RSM in India.

 

 

 

RSM India: Giving back to the local community

1 December 2022
RSM India: Giving back to the local community   Goal 3 – Good health and well-being To give back to local communities, RSM India has engaged in a number of fundraising activities such as donating to worthwhile causes or volunteering to help the underprivileged and society at large.

Encouraging well-being and sustainable practices at RSM India

1 December 2022
Encouraging well-being and sustainable practices at RSM India   Goal 12 – Responsible consumption and production RSM India has committed to a number of initiatives in order to reduce the Firm’s carbon footprint and wastage, as well as to promote well-being.

Whitepaper - GIFT City - International Financial Services Centre - Fiscal Incentives

28 September 2022
The Gujarat International Finance Tec-City ("GIFT City") is the first and only International Financial Services Centre (“IFSC”) currently operational in India and was operationalised by the Government in 2015. GIFT City is developed as a planned global financial and IT Services hub.

Salary Income - Certain Tax and Legal Aspects 2022

27 September 2022
The phenomenal growth of the Indian economy has resulted in a large number of salaried income tax filers. In India, we are estimated to have 8.50 crore tax-filers and the salaried employees and managerial personnel constitute the largest segment out of the same.

Highlights of Recent Key Changes in Overseas Investment Rules Regulations 2022

26 September 2022
The Government with the aim of enhancing the 'ease of doing business' and simplifying the existing framework for overseas investment by persons resident in India to cover wider economic activity and significantly reduce the need for seeking specific approvals has issued new overseas investment rules and regulations.

Karnataka High Court Rules - No TDS on reimbursement of seconded employees’ salary and directs Revenue to issue Nil TDS certificate

26 September 2022
Secondment of employees of foreign entity to Indian subsidiaries has been followed consistently as a general practise to support the Indian operations of the multinational enterprises. The taxability of secondment arrangements and corresponding payments have been subject to judicious examination under direct and indirect tax law over the past many years.

47th GST Council Meeting's Outcome

26 September 2022
The GST Council headed by Finance Minister conducted its 47th meeting on 28 June 2022 and 29 June 2022 in Chandigarh.

CBDT Extends Safe Harbour Rules to AY 2022-23

26 September 2022
On 17 June 2022, Central Board of Direct Taxes (‘CBDT’) issued Notification No. 66 /2022/F. No. 370142/26/2022-TPL. Vide this Notification, the CBDT has extended the Safe Harbour Rules (‘SHR’) to Assessment Year (‘AY’) 2022-23 relevant to the previous year 2021-22. 

CBDT Notifies Books and Records to be maintained by Charitable Trusts and Institutions

26 September 2022
The Finance Act, 2022 had amended Section 12A(1)(b) and tenth proviso to Section 10(23C) of the IT Act so as to mandatorily provide for maintaining books of account and other documents in a prescribed form and manner and at a prescribed place where the total income of certain Trust or Institution, without giving effect to the provisions of Section 10(23C) or sectio

Summary of Recently notified Changes in GST Rates

26 September 2022
In accordance with the recommendations made by the GST Council in its 47th meeting, Central Board of Indirect Taxes and Customs (CBIC) has given effect to several changes in GST rates applicable to supply of various goods/services. All rate changes would be made effective from 18 July 2022.  

Mandatory requirement for Electronic Furnishing of Form 10F in case of Foreign Remittance

26 September 2022
In order to claim benefit of any Tax treaty in respect of any income earned in India, a non-resident is required to furnish certain details in Form 10F alongwith the Tax Residency Certificate (TRC), as per Section 90(5) of the Income Tax Act, 1961 read with Rule 21AB of the Income Tax Rules, 1962.

Summary of recent Circulars issued under GST

26 September 2022
In accordance with the recommendations made by the GST Council in its 47th meeting, Central Board of Indirect Taxes and Customs has issued several clarificatory circulars on prevalent issues under GST. The gist of the said circulars is summarized in the Newsflash.  

Summary of GST Circulars clarifying GST applicability on Liquidated damages, Notice pay recovery etc. and Clarifications on several rate related aspects

26 September 2022
The Central Board of Indirect Taxes and Customs has issued circulars dated 3 August 2022 clarifying applicability of GST on payments in the nature of liquidated damages, notice pay recovery from employees, cancellation charges, etc. and several taxability and rate related aspects as well.  

Turnover exemption limit for E-invoicing under GST reduced from Rs. 20 crores to Rs. 10 crores effective from 1 October 2022

26 September 2022
The Government has further slashed the existing turnover limit for availing exemption from E-invoicing from Rs. 20 crores to Rs. 10 crores and the effective date notified for the said change is 1 October 2022. Thus, all taxpayers whose annual aggregate turnover exceeds Rs.

Supreme Court rules that gifting of freebies by Pharmaceutical Companies to medical practitioners is not allowable expenditure under the Income Tax Act, 1961

12 August 2022
Distribution of incentives (i.e. freebies) by pharmaceutical and allied health sectors industries to doctors, medical practitioners etc. and its allowability of claim as business expenditure in the light of Explanation 1 to section 37(1) of the Income-tax Act, 1961 (‘the Act’) has been one of most litigated issue.

Pages

How can we help you?

Contact us by phone +91 22 6108 5555 or submit your questions, comments, or proposal requests.

Email us