News Update

Global tally of confirmed COVID19 cases leapfrog to 13.47 lakhs with 74700 deaths + USA tally rises to 3.68 lakh + German tally peaks to 1.03 lakh + French tally moves close to One lakh with 9000 deaths + UK’s tally goes up to 52K with 5400 deathsIndia reports 467 new cases today; total tally goes up to 4756 with 132 deathsIndia initiates anti-dumping probe into import of Mono Ethylene Glycol from UAE, Singapore, Oman, Saudi Arabia and KuwaitA dead claim of interest, coming alive? - 2.0Cabinet suspends MPLADS for two yearsStartup developing rapid test for detection of COVID-19West Bengal to set up COVID19 policy-making panel; Mamta to involve Nobel laureate Abhijit BanerjeeAnti-COVID19 Fund - Union Cabinet decides to promulgate Ordinance to suspend MPLAD fund for two years and also to reduce MPs’ salary by 30%; President, VP & Governors also write to Govt for 30% reduction in pay packetWockhardt Hospital sealed after 29 of its personnel test positive for COVID19Japan finally decides to go for state of emergency up to six months; braces up for stimulus packagePredictably, India’s services PMI goes down to 49.3 in March month from 57.5 in Feb monthLockdown causing sharp rise in domestic violence casesIndia's scientific agencies burning midnight oil in war against COVID-19Supply of Services by DTA to their SEZ unit - Export benefits need to be extendedRoSCTL Scheme - Is it serving its purpose?CBIC Member figures in Empowered Group; Startups engaged to find tracking solutionsEPFO to accept Aadhaar-printed date of birth as valid proofCOVID19 - Diya Lighting - Power demand nosedived by 32000 MW, says Power Minister
INCOME-TAX CONSULTANCY SERVICES


TIOL announces launching of "Income-tax Advisory Services" as a new vertical under its existing set up. This will be an online as well as offline services to be offered by experts having more than three decades of experience in tax administration.

With the implementation of policy of eliminating the contact between tax payers / representatives like advocate / CA / CS/ ITP and the tax authorities / Assessing officers, the queries of tax authorities have to be replied to ONLY by email. The written submissions would be the basis for acceptance or rejection of claims / contentions of the tax payers.

In this scenario submissions of the assessee have to be comprehensive covering factual aspects as well as legal contentions on the issues raised in the Notice.

Income Tax & Litigation go hand in hand! Litigation begins with the issuance of NOTICE prior to assessment proceedings. If the Reply to the Notice is deficient or lack in any aspect, additions to a tax payer's income or disallowance would become inevitable. This brings the Journey of Litigation to the Second Stage before the Commissioner of Income Tax (Appeal). From here it goes to the Tribunal, followed by the High Court and the Supreme Court of India.

In case of International Taxation or Transfer Pricing case, the journey remains the same except one or two stopovers such as the issue being referred to the TPO or the DRP before the Tribunal comes into the picture.

Income Tax & Litigation go hand in hand! And Litigation begins with the issuance of NOTICE prior to assessment proceedings. If the Reply to the Notice falls short of the Assessing Officers (AOs), additions are made to a taxpayer's income or disallowance beomes inevitable. This brings the Journey of Litigation to the Second Stage before the Commissioner of Income Tax (Appeal). From here it goes to the Tribunal, followed by the High Court and the Supreme Court of India.

WHAT OUR EXPERTS INTEND TO DO?

TIOL has joined hands with several former Revenue officials who have experiences spanning over close to FOUR decades, and gathered in various capacities, including the making of Union Budgets. Based on their hands-on and unique departmental experiences our Experts intend to help Taxpayers or their Counsels / Consultants / CAs etc in the following areas under I-T Act, 1961, Benami Act, Black Money Act & FEMA / PMLA:

A) Drafting Reply to Notices for Scrutiny Assessments, hearing of appeal or reply to show cause notices under different laws mentioned above;

B) Vetting of Reply drafted by the querist;

C) Determination of tax implications on any proposed corporate transactions or business deals or corporate restructuring or M&A or Demerger etc

D) Preparation of Appeal Papers for CIT(A) or DRP or Tribunal

E) Vetting of Appeal Memos prepared by the queries;

F) Settlement Commission - Petition related matters;

F) Any another Advisory support under different tax statutes as may be needed.

WHAT OUR EXPERTS DO NOT INTEND TO DO

No appearance before the Department Officers, CIT(A) and Tribunal. However, representations by practicing advocates / CA may be made available, if required, to be engaged directly by the querist.

WHO ARE OUR EXPERTS?

1) Mr Rajnish Kumar, Former Principal Chief Commissioner of Income Tax

2) Mr Anand Kishore, Former Chief Commissioner of Income Tax & Former Member of PMLA Tribunal

3) Mr N L Kalra, Former Member, Income Tax Appellate Tribunal

4) Mr Satbir Singh, Former Chief Commissioner of Income Tax

5) Mr Vijay Bahadur Singh, Advocate, Bombay High Court. He specialises in PMLA cases.

Besides these senior officers, we also have some former CCITs and Professionals like Advocate and CAs in our Team to assist you.

CONSULTATION FEE

This is to be decided after discussion with the querist or his/her representative on a case to case basis.

FOR FURTHER GUIDANCE

Please contact:

1) Richa Nigam: 9873983092

2) Shikha Choudhary: 7838594748

OR, drop us a mail at tiolllp@tiol.in