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PRACTICE AREAS

Income Tax

PRACTICE AREAS

Income Tax

Taxation laws, globally, are one of the most litigated and complex legislations and India is by no means an exception in this regard. The vast and diverse nature of the country gives rise to many divergent tax positions for investments, exemptions, compliances and more importantly reliefs. 

Given the nature of the regulations, a comprehensive knowledge of the subject is paramount to offer meaningful solutions on the subject. We at DVS, given our focus on taxation laws, offer the following research based solutions on Income Tax

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Tax Advisory and Litigation

With growing complexities in business, fiscal and economic laws are evolving and in most cases still grappling to catch up with the fast paced changes in business models. As a consequence, laws keep changing and in many cases completely re-written to accommodate the changes in economic landscape. The result of such dynamic evolution of fiscal laws and regulations is ambiguous interpretations and mounting litigation. India has been one of the largest economies in terms of taxation litigation and in many instances the global leader in path-breaking interpretations of law.

At DVS, our team of taxation and legal experts ensure that we assist in minimizing litigation through sound legal advice and in the event of a litigation, we handle the litigation through in-house and external counsels till the Apex Court of Justice. It is noteworthy to mention that most of our positions of law have been accepted at the initial assessment stage and our opinion to litigation ratio is significantly lower than the industry average.


Domestic Tax Policy

Having a sound and clear taxation policy, facilitates any business venture to approach the regulation with clarity. Tax policy covers a wide range of issues from determining the method of accounting to rates of depreciation, managerial remuneration and a host of issues affecting tax obligations and other statutes. 

At DVS, we guide institutions to draft an appropriate taxation policy based on their business and management philosophy, which brings in clarity and sets the operational boundary for any management to work with. Getting the right taxation policy helps any business institution to grow consistently over a period of time.


E-Assessments and Compliance

Electronic assessments have become a reality in India and with the Government focussed on eliminating personal hearings, the entire national landscape has become flat and geographic agnostic. Assessments are entirely about appropriately presenting facts within the framework of legislative intent. Apart from assessments, our teams work on alternative dispute resolution mechanisms like rectification, revisions or applications to Dispute Resolution Panels to ensure faster and economic resolution of issues.

Our team of specialists, including retired Revenue officials, lawyers and chartered accountants, are well placed to systematically handle e-assessments throughout India. Our focussed research team ensures that our assessment and litigation professionals are armed with the current and appropriate legal jurisprudence to defend assessments and litigations.


Have any queries? Drop us a note.

RESEARCH ON INCOME TAX
Webinars, Income Tax

Understanding Income Tax: Capital Gains – Part III

Objectives & Agenda :
To analyse and interpret the provisions of the Income-tax Act relating to computation and chargeability of Capital Gains. In this Webinar we shall look at various types of transfers which are exempted from capital gains, cost of acquisition in certain specified cases, capital gains on specified assets and finally, capital gains in case of non-residents. Also, the Webinar will touch upon relevant Judicial Precedents.

Webinars, Income Tax

Understanding Income Tax: Capital Gains – Part II

Objectives & Agenda :
To analyse and interpret the provisions of the Income-tax Act relating to computation and chargeability of Capital Gains. In this Webinar we shall look at computation of capital gains in specific cases such as Insurance compensation, Compulsory acquisition, Distribution of Assets, Slump Sale and the provisions in case of sale of Depreciable Assets. We will also look at provisions which provide for full value of consideration in certain cases. Finally, the Webinar will touch upon relevant Judicial Precedents.
Sections Covered: Sec 45, 46, 46A, 50, 51, 50B, 50C, 50CA, 50D, 55A.

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