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Tax Planning And Management

Income Tax:

Direct taxation is used as an effective tool to implement various fiscal policies. Various exemptions in taxation is also used as a tool to promote investments in identified industry sectors and geographical boundaries thereby spurring overall economic growth. As such, understanding the impact of continuous change in tax and regulatory aspects and strategically using them to the benefit of business activities is becoming increasingly important. Continuous changes in business methods and consequent changes in legislation also bring out the requirements for new compliances and the challenges of meeting them on regular basis.

  • Computation of tax payable, filing of returns of income of the company and its directors and obtaining permanent account numbers.
  • Computation and payment of advance tax.
  • Computation of deduction of tax at source, filing of forms and issue of TDS certificates.
  • Acting as authorised representative before the Income Tax authorities during assessment proceedings, furnishing of records/ documents/explanations called for
  • Filing of appeals, claiming refunds, getting the transactions registered.
  • Advising on tax planning and tax management, availing tax concessions, incentives, relief’s and tax benefits.

Transfer Pricing

As business is crossing all geographical boundaries in international arena. Multi-national economic activities has given rise to new and complex issues emerging from transactions entered into between two or more enterprises belonging to the same multi-national group. With a view to provide a detailed statutory framework which can lead to computation of reasonable, fair and equitable profits and tax in respective countries, most of the countries has inducted various statutes keeping in mind various aspects involved.

For example to regulate taxation of multinational enterprises in India, the Finance Act, 2001 substituted section 92 with a new section and introduced new sections 92A to 92F in the Income-tax Act, specifying manner of computation of income from an international transaction in view of the arm's length price, meaning of associated enterprise, meaning of information and documents by persons entering into international transactions and definitions of certain expressions occurring in the said section.

Iqbal Kaur & Associates offers to assist in determining Arm’s length Price by following several methods viz.

  • Comparable uncontrolled price method;
  • Resale price method;
  • Cost plus method;
  • Profit split method or
  • Transactional net margin method.

Services of Iqbal kaur & Associates also includes

§ Advice on the design, structure and management of transfer pricing documentation.

§ Preparation of functionally distinct master documents for different regions, individually tailored to meet local country requirements. This balanced approach accommodates requirements for local comparables with the benefits of a centralized compliance framework in a cost effective manner.

§ Enhanced documentation capabilities with access to multiple databases and the tools for identifying explicit entity types such as toll manufacturers, low risk distributors, and service providers.

§ Project management and monitoring by senior staff.

§ Iqbal kaur & Associates can help in the development of your in-house competency to manage your transfer pricing needs

VAT & Central Sales Tax

India Value Added Tax (VAT) is a state matter and is imposed by the respective state governments when taxable goods are sold either directly or indirectly with in the territory of that particular state. Seller is liable to charge VAT at the specified rate on the goods sold and deposit the same to the credit of state government after adjusting tax credit available on its purchases. Most of the states have prescribed a minimum limit of turnover for the first applicability of VAT eg. in Delhi (India) VAT is applicable when local turnover exceeds Rs. 10 lac.

When taxable goods cross geographical boundaries of a state then Central Sales Tax (CST) becomes applicable. Most of the states have not prescribed any minimum limit of turnover for the first applicability of CST and consequently becomes applicable on the very first sale itself.

Iqbal kaur & Associates provides Sales Tax services for Delhi, Haryana, Rajasthan, Uttar Pradesh, Maharashtra state. We are also providing services in other states of India through our network. MNRS provides comprehensive advice and assistance in the following:-

  • VAT and CST Registration
  • VAT Audit
  • VAT credit Audit
  • VAT Consultancy (including Amendments, issue of various forms, Preparation & Filing of VAT and CST Return)
  • VAT and CST Appeals


Central Excise duty is an indirect tax levied on those goods which are manufactured in India and are meant for home consumption. The taxable event is 'manufacture' and the liability of central excise duty arises as soon as the goods are manufactured. It is a tax on manufacturing, which is paid by a manufacturer, who passes its incidence on to the customers.

  • Acting as authorised representative before Central Excise Authorities.
  • Valuation and classification of goods.
  • Assessment of duty and obtaining refunds.
  • Complying with formalities for removal of excisable goods for home consumption and exports.
  • CENVAT procedures.
  • Advising on search, seizure etc.
  • Documentation.


Customs Duty is a type of indirect tax levied on goods imported into India as well as on goods exported from India. Taxable event is import into or export from India. Import of goods means bringing into India of goods from a place outside India. India includes the territorial waters of India which extend upto 12 nautical miles into the sea to the coast of India. Export of goods means taking goods out of India to a place outside India.

  • Acting as authorised representative before Customs Authorities and the Appellate Tribunal.
  • Assisting in clearance of import/export classification of goods.
  • Valuation of goods and assessment of customs duty and obtaining refunds.
  • Documentation.
  • Availing duty exemptions and drawback benefits .

Service Tax

Countries like India are increasingly becoming hub of Service Sector. Service Tax is a form of indirect tax imposed on specified services called "taxable services". Service tax cannot be levied on any service which is not included in the list of taxable services. Over the past few years, service tax been expanded to cover new services. The objective behind levying service tax is to reduce the degree of intensity of taxation on manufacturing and trade without forcing the government to compromise on the revenue needs. For the purpose of levying service tax, the value of any taxable service is the gross amount charged by the service provider for the service rendered by him after deducting abatement, if any given for that particular class of service.

  • Service Tax Registration
  • VAT Audit
  • Service Tax Audit
  • CENVAT Audit
  • Service Tax System Development
  • Service Tax Consultancy (including Service Tax Registration, Preparation & Filing of Service Tax Return)
  • Service Tax Appeals


IEC is unique 10 digit code issued by Director General of Foreign Trade (DGFT), Ministry of Commerce, Government of India to Indian entitites. No person or entity shall make any Import or Export without valid IEC Number.

  • Advising on Export-Import policy and regulations.
  • Export-Import documentation.
  • Advising on Letters of Credit, and drafting suitable conditions in L/Cs.
  • Advising and assisting in receipt and remittance of funds in foreign currency .
  • TO apply and obtain IEC for you at very short notice to kick start Import / Export activities into / from India.


  • Appearing as authorised representative before the Company Law Board, Central Government, Regional Director, Registrar of Companies, MRTP Commission, Consumer Forums, Securities Appellate Tribunal Central Excise authorities, Wealth Tax Authorities, Customs Authorities, Income Tax Authorities, Appellate Tribunals, Central Electricity Regulatory Commission, Telecom Disputes Settlement and Appellate Tribunal & BIFR.


12/40 , First Floor Subhash Nagar New Delhi-110027 Near Shadley Public School
( Nearest Metro Station –Rajouri Garden)

Ph:+91-9990847066, 7053878398 , 9810738556

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