Cross Border Taxation Advisory & Consultancy
With increased globalization and India being one of the fastest growing economies, India is attractive destination both from an inbound and outbound investment perspective. Lot of companies across the globe have chosen India for their expansion. Cross border tax optimization reduces the business tax burden & helps manage global tax risks. Multinationals usually employ international tax specialists for tax optimization. N.G.THAKRAR & CO. is one of the firms in Mumbai offering international taxation and cross border taxation advisory and compliance services. Tax optimization gives companies a competitive tax advantage over other corporates in their business.
Tax Remittance Certificates – Form 15CA/15CB
Form 15CA is a declaration of remitter and is used as a tool for collecting information in respect of payments which are chargeable to tax in the hands of recipient non- resident. This form helps Income Tax Department in tracking foreign remittances & their taxability. As per Rule 37BB, it is a duty of authorized dealers/banks to ensure that such forms are received by them from the remitter.
In some cases, a certificate from a Chartered Accountant in Form 15CB is required before uploading Form 15CA online. In Form 15CB, a CA certifies details of the payment, TDS rate and TDS deduction as per section 195 of the Income Tax Act/ DTAA (Double Tax Avoidance Agreement) is applicable and other details of nature & purpose of remittance. Our firm helps clients in issuing such remittance certificates for their business needs.
Claiming of DTAA (Treaty) benefits for international business
Taxability of Non-Resident is to be examined under the Income-tax Act, 1961 vis-à-vis under the Double Taxation Avoidance Agreement (“DTAA”). Non-Resident can choose between the two, whichever is more beneficial.
With the world becoming a local economy, overseas income is also chargeable to tax in many cases in India. Since the income may be taxed at both places, this paves way for foreign tax credit since there would be double taxation. Countries have entered to DTAA’s in order to prevent such double taxation.
Our team helps companies to analyze the most efficient tax practices.
Our firm in Mumbai specializes in FEMA advisory, structuring and compliance services for multinationals enterprises. We handle compounding applications when certain provisions of FEMA are contravened.
FEMA & RBI Matters
- Consultancy and Compliance Services
- Foreign Direct Investment related matters
- Overseas Direct Investment
- External Commercial Borrowings.
- Borrowings from Non Residents and Persons Of Indian origin in Indian ruppes.
- Establishment of Liasoning office, Project office & Branch office in India
- RBI Approvals mainly relating to FEMA Matters
- Acquision and transfer of immovable properties in India and outside India
- Compounding of offence committed under FEMA Act.
- Valuation of shares
- Consultancy on International Taxation issues
- Consultancy on Double Taxation Avoidance Agreement (DTAA)
- Tax issues relating to Shipping and Airline Industries
- Taxation of Entertainers, Artists and Sports person
- Structuring Issues.
Transfer Pricing - Consultancy and Compliance Services
- Transfer Pricing Audit
- Transfer Pricing Documentation
- Transfer Pricing Assessment
- Transfer pricing Appeals before CIT / DRP / ITAT