New Beginnings – Taxation Practice

23rd September, 2020 - 4:06 pm Categories: TAX 0 Comments

…but in this world nothing can be said to be certain, except death and taxes ― Benjamin Franklin

These famous words by Benjamin Franklin are often used during discussions on the subject on taxes. Taxation is indeed a sensitive subject, with almost everyone having an opinion on it. Although taxes are certain, at times its applicability and correct measure are anything but certain.

With the ever evolving business environment & global economy, taxes play a key role in the financial ecosystem. As taxes impact Governments, businesses, and individuals alike, the need to have a simple, robust, transparent, and just tax system cannot be overemphasized. The Indian Government in the recent past has taken multiple initiatives towards the same. The introduction of Goods and Services Tax (GST) in 2017, aiming to achieve “One Nation One Tax” was a landmark reform in Indirect Taxes. Similarly, recent introduction of Faceless Assessments, Taxpayer’s Charter, Tax Amnesty Schemes, etc. are other pro taxpayer reforms. However good the intentions of the Government be, major changes are required for to have a truly robust & transparent tax system in India.

We at Khurana & Khurana (K&K)believe to have a unique understanding of issues that drive businesses. With a focus on delivering a vast spectrum of legal services that exceed the defined quality standards, we strive to ensure that our solutions exceed the expectations of each client. This has been successfully demonstrated by our Intellectual Property (IP) & Corporate and Commercial Law (CCL) practices with K&K being highly ranked and strongly recommended by Legal 500, IAM, Managing IP, Asia IP, Chambers, among many other reputed ranking authorities.

Driven with the same commitment towards providing services par excellence, We have added a dedicated Taxation Practice to our existing practice verticals, to provide advisory & litigation services under GST, Customs, Income Tax & other allied laws. The practice aims to help its clients make an informed decision with respect to the taxation aspect of their businesses.

The Taxation Practice, headed by Mr. Anubhav Gupta, brings together a unique blend of young and experienced professionals, possessing multiple qualifications and having vast and varied experience expertise in the area of tax laws& allied laws. We believe that, a well executed tax strategy can be a great value addition and the following can be achieved through proper planning and structuring:

1. Optimization of tax costs
2. Mitigation of risks associated with existing tax positions
3. Avoidance of unnecessary litigation
4. Streamlining of business process

The key services provided by the Tax Practice are as under:

1. Legal Opinions on specific issues/ transactions
2. Litigation support before the Tax Department i.e. drafting of replies to Show Cause Notices, appeals before Appellate Authorities and Tax Tribunals along with appearance before the relevant authorities.
3. Drafting of appeals, writs and special leave petitions before High Courts and Supreme Court of India
4. Assistance in audits, enquiry, survey,verification, or investigations conducted by various tax authorities
5. Drafting and filing of representations before various Governmental Authorities & Departments
6. Classification of goods and services
7. On call advisory & support on retainership
8. Tax Reviews and GST Implementation review
9. Tax Due Diligence
10. Process review & structuring/ restructuring of key business transactions
11. Drafting and vetting of agreements and other legal documents from tax perspective
12. Corporate Trainings and Seminars

We trust that the addition of our Tax Practice will allow us to not only meet, but exceed our client’s expectations. Feel free to contact us to engage into a discussion to understand if we can be of any value proposition for your tax matters.

Thank you for your support.