Practice Brief • Income Tax & Direct Taxation
Income Tax Return Filing & Tax Planning
Tax optimization, return filing (ITR-1 to ITR-7), MAT planning, and cryptocurrency tax consulting.
Turnaround: 24-48 hours for individual ITRs; 3-5 days for corporate tax computations
Practice Lead: CA. R.A. Dhoot, Principal Chartered Accountant (FCA, DISA)
Practice Methodology & Regulatory Scope
Our direct tax practice advises individuals, business promoters, and corporate enterprises on optimizing effective tax rates. We handle Section 115BAA corporate tax regime evaluations, capital gains tax harvesting, virtual digital assets (cryptocurrency) reporting under Section 115BBH, and advance tax liability modeling.
Governing Statutory Acts & Guidelines
Income Tax Act 1961
Finance Act Provisions
CBDT E-Filing Guidelines
Section 115BBH (Virtual Digital Assets)
Tangible Client Deliverables
1
Computation of Total Income & Tax Liability with deduction optimization2
Filing Form ITR-1 to ITR-7 on the Income Tax portal with CA verification3
Advance Tax quarterly computation and cash flow schedule4
MAT / AMT credit computation and optimization5
Cryptocurrency & virtual digital assets (VDA) transaction tax audit and planningMeasurable Enterprise Safeguards
Reduction of effective tax burden through legitimate exemptions and deductions
Zero penalties under Section 234A/B/C through proactive advance tax forecasting
Clean audit trail minimizing automated CPC defect notices and scrutiny flags
Statutory Practice FAQs
Q: How are cryptocurrency and virtual digital assets taxed in India?
A: Under Section 115BBH, income from transfer of virtual digital assets is taxed at a flat 30% rate plus surcharge and cess. No deductions (other than cost of acquisition) or set-off of losses against any other income is permitted. A 1% TDS under Section 194S also applies on transactions.
Q: Should our company opt for the 22% tax rate under Section 115BAA?
A: The 22% regime (effective ~25.17% with surcharge and cess) offers a reduced baseline rate, but foregoes accumulated MAT credits and specific deductions. We run an empirical comparative model to determine the optimal inflection point before opting in.
Partner Consultation
Engage Practice Partner
Schedule an in-person chambers discussion or encrypted virtual conference with our senior practice leader.
Designated Partner Lead:
CA. R.A. Dhoot, Principal Chartered Accountant (FCA, DISA)
ICAI Fellow Chartered Accountant
Strict client confidentiality maintained under ICAI Code of Ethics.