Direct Tax, Audit & Assurance Services

The Company and the CFO are required to comply with all the prescribed statutory compliances under various statutes. However, such compliances take away a fair share of the CFO’s precious time. Hence, it’s our endeavor at Optitax’s to take up such compliance job and free up the precious time for other important and strategic functions.

Annual Compliances

• Preparation and filing of Income-tax Return
• Preparation and filing of Wealth tax Return
• Preparation of Transfer Pricing Study/ Transfer Pricing documentation assistance (international and domestic transfer pricing)

Quarterly

• Computation of Advance tax liability
• Preparation / Review of quarterly e-TDS statements in Form 24Q, Form 26Q and Form 27Q

Monthly Withholding Tax
Under the Act, a person making certain specified payments such as salary, contractual payments, rent, interest, professional or technical fees, commission, payments to non-residents, etc. is required to withhold tax at source from such payments and comply with the associated requirements in respect of deposit of taxes in the Government treasury in the prescribed manner, issue of tax credit certificates and filing withholding tax returns. The rationale of withholding tax is to provide a mechanism for tax authorities to collect tax at the source of income, and also to expand the tax base. Failure to comply with the prescribed withholding requirements could result in the levy of penal interest, penalty and prosecution under the Act, in addition to the liability to make up for the taxes not withheld/deposited

Individual Tax Services 

• Computation of Advance Tax installments
• Preparation and filing of annual Income-tax returns

Registrations

• We assist in obtaining all statutory registrations and in modifying (updating information in) existing ones, viz.
• Permanent Account Number
• Tax deduction Account Number
• Professional Tax Registration
• Representation Services
• Withholding tax assessments
• Refund matters
• Rectification issues
• Assessment proceedings under section 148 of the Income-tax Act

Assurance & Accounting Support services

• Audit assistance Services
• Preparation of financial statements and supporting schedules for audit purposes
• Deputation of staff – Short Term and Long Term

Internal Audit and Business Advisory

• Business process review
• ERP Implementation
• SOP Preparation