Direct Taxation (Income Tax)

Direct Taxation (Income Tax) ​

Introduction

Direct Taxation refers to Income Tax, which is levied on income earned by individuals, firms, LLPs, and companies. Compliance involves accurate reporting of income, proper tax computation, timely filing of returns, and adherence to applicable legal provisions.

With the introduction of the Income Tax Act, 2025, the income tax framework is being modernized to simplify tax provisions, improve compliance, and enhance transparency. Taxpayers are required to ensure compliance with applicable provisions under the prevailing income tax law, including transition and ongoing compliance under the new regulatory framework.

Professional support helps ensure accurate tax compliance, proper reporting, and adherence to applicable provisions, while reducing the risk of penalties, interest, and regulatory issues.

Who Needs This Service

Direct Taxation services are essential for:

• Individuals earning income from salary, business, profession, capital gains, or other sources

• Proprietorship firms, partnership firms, and LLPs

• Private limited companies and corporate entities

• Startups and growing businesses

• Investors earning income from shares, securities, or other investments

• Entities requiring compliance under applicable income tax laws, including the Income Tax Act, 2025

• Businesses and individuals receiving income tax notices or subject to assessment

This service ensures proper compliance with the applicable income tax framework and reporting requirements.

Scope of Services – What We Cover

Our Direct Taxation services include comprehensive compliance and advisory support under the applicable income tax framework, including the Income Tax Act, 1961 and the Income Tax Act, 2025, as applicable.

Income Tax Return Filing

• Preparation and filing of Income Tax Returns for individuals, firms, LLPs, and companies

• Review of income, deductions, and tax computation

• Ensuring compliance with applicable provisions of income tax law

Tax Computation and Compliance

• Accurate computation of income tax liability

• Review of income classification and tax applicability

• Ensuring compliance with applicable tax provisions

Compliance under Income Tax Act, 2025

• Assistance in understanding and complying with the new Income Tax Act, 2025

• Review of tax positions in accordance with updated provisions

• Supporting transition and ongoing compliance under the revised framework

TDS and Advance Tax Compliance

• Review of advance tax liability and payment requirements

• Assistance in TDS compliance and reporting

• Monitoring tax compliance timelines

Handling Income Tax Notices and Assessments

• Assistance in responding to income tax notices and communications

• Support during income tax assessments and proceedings

• Preparation and submission of required documentation

Capital Gains and Investment Taxation

• Computation of capital gains tax

• Assistance in reporting capital gains

• Advisory on tax implications of investment transactions

How We Help Your Business

Our Direct Taxation services help your business by:

• Ensuring compliance with applicable income tax laws, including the Income Tax Act, 2025

• Supporting accurate and timely tax reporting

• Reducing exposure to penalties and compliance risks

• Supporting proper tax planning within the legal framework

• Assisting in handling tax notices and regulatory requirements

• Supporting smooth business operations with proper tax compliance

• Providing clarity on evolving tax regulations and compliance requirements

This enables businesses and individuals to manage tax obligations efficiently and professionally.

Our Approach / Methodology

We follow a structured and professional approach to Direct Taxation:

Understanding Tax Profile

• Reviewing sources of income and financial activities

• Understanding business structure and tax applicability

Tax Review and Computation

• Reviewing financial records and tax applicability

• Accurate computation of tax liability

Compliance and Return Filing

• Preparation and filing of Income Tax Returns

• Ensuring compliance with applicable provisions, including new regulatory framework

Advisory and Compliance Support

• Providing guidance on tax compliance requirements

• Supporting compliance with updated income tax provisions

Ongoing Support

• Assistance in handling notices, assessments, and compliance matters

• Providing continuous tax compliance support

Why H K Davra & Co.

H K Davra & Co. provides professional and reliable Direct Taxation services with a focus on compliance, accuracy, and updated regulatory knowledge.

Key strengths include:

• Strong understanding of income tax laws, including the Income Tax Act, 2025

• Structured and systematic approach to tax compliance

• Accurate tax computation and reporting

• Professional handling of tax notices and compliance matters

• Reliable and timely execution

• Commitment to professional ethics and confidentiality

• Continuous support for evolving tax compliance requirements

Our objective is to support clients in maintaining accurate and compliant tax reporting under the applicable income tax framework.

Scope of Engagement and Deliverables

As part of our Direct Taxation engagement, clients receive:

• Preparation and filing of Income Tax Returns

• Computation of income tax liability

• Compliance support under applicable income tax provisions, including the Income Tax Act, 2025

• Assistance in handling tax notices and assessments

• Advisory support related to income tax matters

• Ongoing professional tax compliance support

The scope of engagement may be customized based on client requirements.