Our Services

Home /../Taxation

Taxation

Gain from the expertise of a specialized team of tax accounting professionals providing
a complete, comprehensive and time-bound service package based on quality, accuracy and compliance.

APPEALS/DISPUTE RESOLUTION/
IT APPELLATE

Resolving tax disputes requires the expertise of tax professionals who have a clear understanding of the complex laws and processes, and can present the client’s case effectively at the designated appellate authority. MNCO’s strengths in this area ensure the client’s pending tax disputes are resolved in a fair manner without ambiguity and within the ambit of various dispute resolution mechanisms. The experienced MNCO team is equipped to provide guidance to clients in terms of framing effective responses to inquiries, preparing the necessary documentation and advising them on strategies as well as represent them at all appellate levels including the Dispute Resolution Panel (DRP) and Income Tax Appellate Tribunal (ITAT).

TAX RETURNS FILING

A critical component of the taxation process, tax preparation and filing of tax returns represent the culmination of an extended accounting process that aims to ensure accuracy and compliance. MNCO’s tax return filing suite flexibly addresses the needs of a diverse range of clients from individuals, non-residents, foreign nationals and HUF to businesses, small and mid-sized companies, charities, trusts, associations, and large organizations. MNCO combines its proven experience in taxation services with strong understanding of regulations and extensive cross-industry expertise to provide a reliable and compliant service offering.

TAX PLANNING

Tax planning is an analysis of an individual or organization’s financial situation with the primary objective of the exercise being to minimize tax liabilities for the taxpayer. MNCO’s experienced tax professionals provide reliable advice for reducing the organization or individual’s tax burden through smart, timely and compliant tax planning. This advice is based on the team’s solid understanding of deductions, exemptions and exclusions allowed by law, and how they apply to the firm, trust or individual. Any financial planning exercise has tax planning at its core: MNCO will assist their clients with advice on timely investments in the right instruments, capital gains, insurance policies, property purchases, depreciation on machinery and vehicles, loans and more.

TAXATION ADVICE

A tax advisory service is a problem-solving mechanism that aims to provide better understanding of the complexities of taxation laws through an informed interpretation of regulations and how they apply to the client’s specific query, issue or requirement. MNCO provides a solutions-focused tax advice service within the framework of the various branches of tax laws governing direct and indirect taxation. Clients can consult with MNCO’s tax professionals on specific tax laws, seek confidential opinion on the applicability of laws to their particular issue, and receive advice on the latest regulatory developments.

TDS CONSULTANCY

One of the indirect taxes collected by the Government of India to widen the tax collection base, Tax Deducted at Source or TDS is applied at the point of payment with the person or firm making the payment also responsible for remitting the deducted amount to the Central Government. Consult with MNCO’s TDS experts on the various provisions of the Income Tax Act pertaining to TDS, applicable rates prescribed by different sections of the Act based on the nature of payment/income,payments where TDS deduction is not applicable, timely filing of TDS returns,issuing TDS certificates, refund of excess TDS deductions, and penalties that may apply when tax is not deducted or collected tax is not deposited with the Government.

TAX ASSESSMENTS

Tax assessments refer to the examination of the return of income by the tax authorities under any of the four sections of the Income Tax Law – Section 143(1), Section 143(3), Section 144 and Section 147, respectively covering summary assessment, scrutiny assessment, best judgement assessment and income escaping assessment. A key objective of the exercise is to ascertain the accuracy of the returns filed with the authorities. MNCO provides advice, support and assistance for every stage of tax assessments (both regular and re-opened)including framing suitable responses to notices, making submissions on behalf of the client, and representing the client if summoned by the Assessing Officer.

COMPLIANCE ADVISORY

A tax compliance advisory service aims to reduce the complexity of tax laws for clients, minimize their tax liabilities,and limit their exposure to risk. MNCO offers a tailored tax compliance advisory service to individuals, organizations and businesses of all sizes encompassing corporate tax, personal tax, and direct and indirect taxes. A customized solution based on best practice and provided within the framework of existing laws and regulations, MNCO’s advisory service helps clients effectively manage the challenging tax environment as well as meet compliance requirements.

INDIRECT TAX LITIGATION SUPPORT

Litigation support, especially when defending the client’s indirect tax positions in the presence of a regulatory authority, demands a strong understanding of relevant tax laws as well as insightful handling of the dispute. MNCO’s scope for a complete litigation and representation support service for indirect taxes such as Goods and Service Tax (GST),encompasses dispute resolution, developing litigation strategies, drafting appeals, responses and submissions, providing advisory on litigation strategy as well as future course of action following appellate proceedings, representation before various tax and appellate authorities, and also, if required, briefing external counsel in a court of law.

Mitigate cost, time, quality and compliance risks by partnering with MNCO

top