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Direct Taxation

We help enterprises formulate effective strategies to optimize their taxes, implement innovative tax planning strategies and effectively manage compliance-related requirements

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Direct Tax
Advisory
Direct Tax
Litigation
Regulatory & Compliance
Services

Direct Taxes are borne and paid directly by the individuals on whom it is imposed such as wealth tax, income tax, etc. The taxpayer pays this tax directly to the government without any involvement of intermediary source.

With the increasing ease of doing business in India, investors are highly optimistic about making investments in the country. Our team of professionals assists businesses on various tax and regulatory matters at every stage of the business lifecycle, thereby enabling them to explore and make the most out of the opportunities. We provide a holistic and the most tax-effective solutions to large multinational companies, mid-size businesses, high net worth individuals and entrepreneurs looking to grow their businesses.

We also advise clients on how to effectively navigate the myriad of tax, and regulatory issues in cross- border transactions to help manage compliance risks and potentially enhance returns.

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Our goal is to minimize your business and personal tax exposure by means of legitimate planning and keeping you aware of the changing requirements of the taxation system in India and abroad.

Key Service Offerings
  • Statutory compliance support
  • Tax reviews to identify uncertain tax positions and ensure risk mitigation
  • Tax withholding review
  • Tax minimization and optimization strategies, availability of tax deductions, etc. and other tax planning ideas
  • Advise and plan optimization of capital structure and debt equity ratio
  • Tax advice and optimization on various transactions
  • Review of applicability of ICDS and related disclosures
  • Review of Ind-AS applicability and related action points
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Entities Liable to Pay TAX
  • Hindu Undivided Family (HUF)
  • Body of Individuals (BOI)
  • Association of Persons (AOP)
  • Local Authorities
  • Corporate Firms
  • Companies
  • All Artificial Juridical Person
Key Responsibilities
  • Experience in litigation, tax compliances and advisory
  • Continuous interaction with Clients & managing expectations
  • Provide comprehensive tax solutions
  • Research complex tax theory
  • Timely & high-quality services

Most Trivial Direct Taxes

Income Tax Return
Compliances
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TDS/TCS
Compliances
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Assessment &
Appeals
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Professional
Tax
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Years of Experience

We work with ambitious leaders who want their future to be successfull and help them achieve extraordinary outcomes.

Outstanding Service

Through our service lines, we help our clients capitalize on transformative opportunities - now, next & beyond.

Dedication to Clients

Together, we help you create lasting value & responsible growth to make your business fit for tomorrow.

Legal Consultant

You face steep compliance demands & complex changes; we help you transform your function to make a greater impact.

Professional Liability

Our professionals draw on our shared creativity, experience, judgement & diverse perspectives to reframe the future of our clients.

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AbouT Lex

Lex Koterie LLP is one of the leading professional group involved in Taxation consultancy services, GST, Audit and Assurance, Secretarial and Corporate Law Services, Mergers and Acquisition to Corporate Financial and Risk Advisory, accounting/ related support and outsourcing services.

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Income Tax Return Compliances

Income Tax is undoubtedly the most important source of revenue for the Indian Government. It is established as an inevitable imposition on the citizens in order to raise funds for fulfilling the development & defense needs of the country.

Benefits of Filing Income Tax Return
  • Processing of Loans & VISA
  • Claiming TDS Refunds
  • Carry Forward of Losses
  • Establishing Income in Compensation Cases
  • Define Financial Worth
  • Self-employed individual Filing Tenders

TDS/TCS Compliances

TDS (Tax deducted at Source) is a process of subtracting the tax amount while making payments like interest, salary, commission, rent and so on. Whereas, TCS (Tax Collected at Source) is collected by seller from buyer while selling a specified category of goods.

Certificate issued upon filing TDS Returns
Form 26AS
Certificate issued upon filing TCS Returns
Form 27D
Benefits of filing TDS/TCS
  • Comply as per the provisions of Income Tax Act,1961
  • Decrease in chances of corruption & other malpractices.
  • To avoid late fee & penalties.
  • Correct valuation of property purchased.
  • Proof to avail loan.
TDS/TCS compliance include
  • Registration
  • Monthly Payments
  • Monthly/Quarterly/Annually Return Filing
  • Issuing TDS/TCS Certificates
  • TDS/TCS e-payment facilities

Assessment & Appeals

Faceless Tax Assessments & Appeals

The move is part of the government’s efforts to bring more transparency in the tax assessment system. By making the tax process “faceless”, the government aims to impart greater efficiency, transparency, and accountability, eliminating physical interface between the taxpayer and tax officers.

EASE OF COMPLIANCE FOR TAXPAYERS
TAXES WERE NEVER SO EASY
Faceless E-assessment Scheme
The E-assessment Scheme, 2019 eliminates
  • Interface between the Assessing Officer and the assessee.
  • Optimizing the use of resources through functional specialization.
  • Introducing the team-based assessment.
Document Identification Number (DIN)
  • Every communication of the department issued from 1st Oct 2019 mandatory to have
    computer-generated unique DIN
Pre-Filing of Income-Tax Returns
  • ITR form now contains pre-filled details of certain incomes.
Simplification of compliance norms for Start-ups
  • Hassle-free assessment procedure, exemptions from Angel-tax, constitution of dedicated start-up cell.
Simplification of compliance
  • Threshold for launching prosecution increased.
  • System of collegium of senior officers for sanction of prosecution introduced.
  • Norm for compounding relaxed.

Professional Tax

Unlike income tax which is levied by the Central Government, profession tax is levied by the government of a state or union territory in India. Majority but not all of the Indian states impose profession tax. While states like Karnataka and Maharashtra have profession tax, there is no such tax applicable in Delhi and Haryana.

Profession Tax (PT) is a tax levied on the employment and Profession by respective State Government in India. It is imposed by the State government on all salaried individuals. The tax rates differ across all states, however, the maximum amount that can be levied as Professional tax is Rs. 2,500/- per annum.

Professional tax fee will also have different rates that tend to differ from state to state. The state governments which are levying state tax are West Bengal, Maharashtra, Karnataka, Kerala, Assam, Madhya Pradesh, Orissa, Tripura, Meghalaya, and Gujarat.

Who are exempted from paying Professional Tax?
  • The Professional Tax Rules provide exemptions to the following individuals.
  • Parents of children suffering from mental or permanent disability.
  • Members of the armed forces ( as designated in the Air Force Act, Navy Act and Army Act ).
    including members of auxiliary forces/reservists, serving in a particular state.
  • Individuals with permanent physical disability ( inclusive of blindness).
  • Individuals over the age of 65.
  • Badli workers engaged in the textile industry.
  • Women engaged exclusively as an agent under the Directorate of Small Savings or Mahila Pradhan Kshetriya Bachat Yojana.
  • Guardians or parents of mentally challenged individuals.