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Domestic Direct Taxation

Corporate Tax Return

A corporation tax return is based on the profit or loss you have made and any expenses or allowances claimed to calculate your corporation tax bill. The return and payment must be submitted to the Income Tax Department within the prescribed time.

At H.K Joon & Co., we ensure our highly professional experts take care of your needs related to the process of taxation so that you can focus on other important areas of business development without worrying much on these things. Our services are reliable enough to help you relax at the same time.

Tax Audit

  • Advisory on various transactions from domestic law to tax treaty viewpoint
  • Tax Consultation
  • Consultancy regarding tax planning opportunities
  • Taxation concerning Certifications – 15CB, etc.

Indirect Taxation

Indirect taxes contribute widely to the government’s revenue and in current years, indirect tax collection has exceeded the direct tax incomes.

Service Tax

  • Consultancy / Advisory Support
  • Litigation services
  • Service Tax Health Check
  • Representation Services up till Tribunal level
  • Due Diligence
  • Assisting the Council for Appeal before the High Court or Supreme Court
  • Assistance in Departmental Service Tax Audit

Value Added Tax

  • Consultancy/ Advisory Support in the Domain of VAT, CST, Other Local Taxes
  • VAT Audit
  • Obtaining of VAT Registration
  • Issuing Statutory Forms and Road Permits
  • Support concerning VAT, CST & Entry Tax Assessments
  • Litigation Services

Income Computation and Disclosure Standards (ICDS)

Income Computation and Disclosure Standards (ICDS), introduced with effect from 1st April 2015, constitute one of the significant amendments introduced in the Indian Income-tax legislation.

ICDS is applicable for computation of income chargeable u/h PGBP (Business income) and IFOS (other sources) and not for maintaining books of accounts. These standards provide for some significant departure from Indian Accounting Standards or accounting standards and may lead to material tax implications for taxpayers.

ICDS is applicable to compute taxable income under the income tax act 1961, irrespective of the Accounting standard adopted by companies.

In this regard, we provide consultancy in examining ICDS having regard to the nature of business of taxpayers and advising on relevant tax implications.

Corporate Tax Compliance

In this respect, below are the key services offered by H.K Joon and Co.:

  • Assistance in advance tax compilation considering newly introduced Income Computation and Disclosure Standards (ICDS)
  • Assistance in filing corporate tax returns
  • Assistance in filing withholding tax returns
  • Assistance in preparing and filing of submissions and representations before revenue authorities on specific matters including assessment/reassessment proceedings, penalty proceedings, stay of demand, etc.
  • Assistance in representation for pending tax refunds and follow-up with the revenue authorities

Corporate Tax advisory

Our key service offering includes:

  • Advice on various domestic as well as international tax matters including cross-border transactions
  • Advice from a tax perspective concerning agreements to be entered into by several parties
  • Advice on withholding tax obligations on payments to residents/non-residents
  • Tax advisory for the positions to be adopted in the tax return procedure
  • Analyse the impact of Place of Effective Management (POEM) rule for determining tax residential status of a foreign company/overseas group entity in India having regard to the global management structure
  • Analyse the effect of General Anti Avoidance Rules (GAAR) on domestic and cross-border transactions
  • Review of operations and analyze the impact of Base Erosion and Profit Shifting (BEPS) measures

Merger & Acquisition

Companies are witnessing acquisitions and consolidation as a quick growth strategy. Whatever type of transaction you are contemplating—an acquisition, disposition, merger, joint venture, IPO, restructuring or refinancing—your tax obligations must be carefully assessed and your cash flows optimized.

HKJOON’s extensive global network of M&A tax and regulatory practice endeavours to combine its rich experience and expertise in domestic laws and regulations to devise innovative structures for M&A.

Our highly-pitched approach to your transaction will provide you with the right balance of functional, regional as well as industry experts on each transaction. We proactively identify integration challenges and help develop effective solutions to address them methodically.

Our practical implementation expertise also provides holistic services for both the domestic and international market, ensuring that you acquire a ‘one-stop solution’ for all your transactions.