Navigating India's tax landscape — governed by the Income Tax Department and the GST Council — is essential for all foreign businesses entering the country. From Goods and Services Tax (GST) registrations to annual statutory audits under the Companies Act 2013, maintaining absolute compliance is critical for successful market entry.
Non-compliance leads to severe interest penalties, tax card blocking, and MCA lockouts. Our expert team ensures your financial governance is fully compliant, optimized for incentives like the 15% new manufacturing tax route, and aligned with Indian statutory requirements.
GST & Corporate Tax Compliance Suite
- 📊GST Registration & Filings Mandatory registration for service providers and goods suppliers crossing threshold limits. We handle GSTR-1, GSTR-3B filings, and Input Tax Credit (ITC) reconciliation.
- ðŸ¢Corporate Income Tax (CIT) Attractive tax rates of 15% for new manufacturing setups and 22% (plus surcharges) for other domestic companies. Foreign companies are taxed at 40% on branch profits.
- 📑TDS & TCS Returns Management of Tax Deducted at Source (TDS) on contracts, professional services, rent, and dividends, with quarterly Form 26Q and 27Q filings.
- 🔄Transfer Pricing (TP) Section 92E compliance for transactions with global associated enterprises, including Transfer Pricing study reports and Form 3CEB filing.
- 🧾MCA21 Annual Filings Preparation and electronic filing of annual financial statements (AOC-4) and annual returns (MGT-7) with the Registrar of Companies (ROC).
- 🛡ï¸DTAA & Treaty Relief Optimizing international remittances and double taxation relief utilizing India's extensive tax treaty network with over 85 countries.
Statutory Audit Services
All incorporated Private Limited Companies and LLPs in India must appoint a qualified Chartered Accountant registered with the ICAI to conduct an annual statutory audit and file audited financial statements with the Ministry of Corporate Affairs (MCA) and Income Tax Department.
We streamline the statutory audit process to ensure zero operational disruption:
- Pre-Audit Health Check: Analyzing accounting books and ledgers to guarantee full alignment with Indian Accounting Standards (Ind AS) or Indian GAAP.
- Auditor Liaison: Direct coordination with licensed auditors, providing supporting evidence, reconciliations, and resolving queries smoothly.
- IFRS & Ind AS Translation: Drafting balance sheets, profit & loss, and cash flow statements in strict accordance with MCA requirements.
- Tax Audit Filing (Form 3CD): Proactive preparation and uploading of tax audit reports within stipulated deadlines to secure direct tax deductions and avoid penal interest.
Key Compliance Deliverables
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PAN & TAN CertificatesPermanent Account Number (PAN) and Tax Deduction Account Number (TAN) essential for operations.
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ROC-Compliant Audited FinancialsFully audited and signed financial statements ready for MCA filing.
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Transfer Pricing Study (Form 3CEB)Comprehensive TP report establishing arm's length transactions under Section 92E.
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GST Returns & ReconciliationsAccurate filed GST returns (GSTR-1, GSTR-3B) with GSTR-2B credit reconciliations.
Frequently Asked Questions
Wholly-owned subsidiaries in India are registered as domestic companies. They are eligible for a highly competitive tax rate of 22% (plus applicable surcharges/cess) under Section 115BAA. For newly incorporated manufacturing entities, the tax rate is a stunning 15% under Section 115BAB. Foreign branch offices are taxed at a standard rate of 40%.
Yes, under the Companies Act 2013, an annual statutory audit by a qualified external Chartered Accountant (registered with ICAI) is mandatory for all Private Limited and Public Limited companies, regardless of their capital or turnover. For Limited Liability Partnerships (LLPs), it becomes mandatory if the annual turnover exceeds ₹40 lakh or capital contributions exceed ₹25 lakh.
Goods and Services Tax (GST) is India's comprehensive multi-stage destination-based indirect tax. It is split into CGST, SGST, and IGST depending on the transaction location. Standard GST rates are structured into four main tiers: 5%, 12%, 18%, and 28%. Most IT services, consulting, and manufacturing fall under the 18% slab.
Yes, India levies a progressive personal income tax on salaries and global earnings. Foreign founders and expatriates working in India are subject to Indian tax slab rates (ranging from 5% to 30%, plus cess/surcharge) under the New or Old Tax Regimes, once they cross the residency thresholds.
Tax Deducted at Source (TDS) is deducted at source from domestic payments such as contracts, interest, commission, professional services, and royalties. For cross-border remittances (such as dividends, royalty, and technical service fees to parent companies), withholding tax applies, typically ranging from 5% to 20%, subject to Double Taxation Avoidance Agreements (DTAA) with the recipient's home country.