Tax Advisory
Indian tax laws and their regulation in an ever changing dynamic economy are a tough area to expertise in. Given the rapid transition of our growing economy, even tax policymakers are trying to cope up with the pace by making frequent and necessary changes to the tax laws, while India climbs up the ‘ease of doing business’ charts globally.
At Finsurety Advisors, along with our team of experienced tax consultants take this challenge head on, by carefully examining the client’s needs and coming up with effective solutions. We provide practical and commercially focused solutions for our clients under the purview of various tax laws. Our tax services include tax advisory and regulatory services that can help you minimise your tax exposure and highlight the risks presented by constantly evolving and increasingly complex legislation.
Whether you are an Expatriate, a Non-Resident Indian, or a Resident Indian – organization, or an individual, we’re here to assist and advise you on all your tax needs.
The majority of tax laws in India can be classified in 2 broad categories:
- Direct Tax laws and
- Indirect Tax laws
The direct tax laws in India mainly consist of:
- The Income Tax Act 1961,
- Subsequent amendments made to it,
- Rules and circulars issued by CBDT
The indirect tax laws in India used to contain a plethora of laws levied by both state and centre. Currently the Indirect Tax laws in India consist of:
- The Goods and Services Tax Act 2017
- Subsequent amendments made to it,
- Rules and circulars issued by CBIDT
Apart from this, certain state Value Added Tax (VAT), The Central Excise Act 1944, and The Customs Duty Act 1962 continue to still be applied on some goods, like petrol, alcohol etc.