Income Tax Advisory & Compliance

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At K ALOK & ASSOCIATES, we provide comprehensive Income Tax Advisory & Compliance services for individuals, companies, startups, NGOs, and trusts. From accurate return filing to complex litigation support, tax planning, TDS/TCS compliance, and exemption certifications — we take care of all your direct tax requirements with precision and professionalism.

Income Tax Return (ITR) Filing

Timely and accurate ITR filing is a legal obligation and a smart financial practice. We file returns for:

    • Salaried individuals
    • Professionals & freelancers
    • HUFs and partnership firms
    • LLPs, private and public companies
    • Charitable trusts and societies
    • NRIs and foreign nationals


Our ITR Filing Services Include:

    • Preparation & computation of taxable income
    • Capital gains & loss adjustments
    • Deductions under Chapter VI-A (80C to 80U)
    • Income reconciliation with Form 26AS and AIS/TIS
    • Online return filing with the Income Tax Department
    • Filing of revised/belated returns and responses to notices


Why File With Experts?

Incorrect filing can lead to refund delays, penalties, or scrutiny notices. We ensure full compliance and maximize refund eligibility.

Corporate Tax Services

Our firm assists companies in complying with Corporate Tax provisions under the Income Tax Act, 1961. We offer end-to-end support for domestic and foreign companies, ensuring proper planning and statutory compliance.

Services Include:

    • Corporate tax computation (including MAT/AMT)
    • Filing of Form ITR-6 for companies
    • Depreciation and loss carry forward analysis
    • Reporting of related party transactions
    • Advance tax computation & payments
    • Tax planning under domestic and international laws
    • Compliance with transfer pricing (if applicable)
  •  

We aim to reduce corporate tax liability through careful planning while staying fully compliant.

Income Tax Consultancy

Tax laws evolve frequently, and strategic decisions require expert insight. Our consultancy services are tailored to your business type and transaction structure.

Areas We Advise On:

    • Business structure planning (Proprietorship vs LLP vs Pvt Ltd)
    • Capital gains planning & exemption (Sec 54, 54EC, 54F)
    • Tax implications of restructuring, sale, or investment
    • Foreign remittance & Double Taxation Avoidance Agreements (DTAA)
    • Income clubbing, set-off, and carry-forward provisions
    • TDS applicability and reporting
    • Tax planning for professionals, doctors, and consultants


You can rely on our CA-led team for precise and compliant advice in writing or through personal consultation.

TDS/TCS Return Filing

TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) are integral to income tax compliance for businesses, contractors, and entities. We help with:

Services Offered:

    • Preparation and filing of:
      • Form 24Q – TDS on salary
      • Form 26Q – TDS on other payments
      • Form 26QB – TDS on Sale of Property
      • Form 27Q – TDS on payments to NRIs
      • Form 27EQ – TCS returns
    • Generation of TDS challans
    • PAN-Aadhaar validation
    • Filing of correction statements
    • Form 16 & 16A generation and download


Why It’s Important:

Non-filing or short deduction can lead to disallowance of expenses, interest, penalty, and late fees under Sections 201 and 234E.

Lower Deduction Certificate (Form 13)

Businesses and contractors often require Lower/Nil TDS Deduction Certificates to avoid excess deduction. We provide complete support for:

Certificate for:

    • Professionals, contractors, consultants, exporters, and MSMEs
    • Payments on which regular TDS applies but actual tax liability is lower


Services Include:

    • Preparation and submission of Form 13
    • Drafting computation and projected financials
    • Representing before the Assessing Officer
    • Follow-up and certificate issuance


Timely application of LDC ensures better cash flow and reduced refund delays.

12A, 10(23C), and 80G Registration

We help NGOs, societies, and charitable trusts obtain income tax exemptions and donor benefit registrations under Sections 12A, 10(23C), and 80G.

Our Services Include:

    • Trust Deed/Society document review
    • Filing Form 10A or 10AB for registration/revalidation
    • Preparation of application and attachments
    • Support in uploading financials and activities
    • Handling follow-up queries or hearings


Benefits of Registration:

    • Exemption of income from tax (12A/10(23C))
    • Deduction for donors under Section 80G
    • Mandatory for CSR funding and FCRA approval

Income Tax Litigation & Representation

Received a tax notice, reassessment order, or demand from the department? We provide expert litigation support at all levels of income tax proceedings.

Our Litigation Services Include:

    • Drafting replies to notices under:
      • Sec 139(9), 142(1), 143(2), 148, 156
    • Filing and representation in:
      • Assessments before AO
      • CIT (Appeals)
      • ITAT (Income Tax Appellate Tribunal)
    • Search, seizure, and survey case handling
    • Representation for penalty & prosecution cases
    • Strategic advisory for appeals, stay of demand, and rectification


We aim to protect your legal and financial interest with strong drafting, documentation, and representation.

Startup Tax Exemptions: Section 56 & 80-IAC

Startups recognized by DPIIT can claim exemptions under Section 56(2)(viib) (Angel Tax) and Section 80-IAC (Tax Holiday). We help startups in:

Services Include:

    • Eligibility assessment and DPIIT registration
    • Filing application for 56 exemption on share premium
    • Filing Form 1 for 80-IAC exemption (3-year tax holiday)
    • Drafting required documents (pitch deck, valuation, investor profile)
    • Coordination with the CBDT/DPIIT portal


Avoid tax on angel investment and claim startup tax holidays with expert help.

Why Choose K ALOK & ASSOCIATES?

  • CA-led expert team with years of tax litigation and planning experience
  • Personalized tax strategies for individuals, startups, NGOs & corporates
  • Timely filing and documentation
  • Trusted representation in assessments and appeals
  • Transparent and reasonable fees
  • Updated knowledge of new tax provisions, portals, and digital processes

 

Whether you’re a salaried person, business owner, trust, or startup — we ensure your Income Tax compliance is complete, timely, and risk-free.

For any assistance in the field of direct and indirect taxes or international taxation and related matters, you can reach out to us at info@kalok.in. Our experienced professionals shall provide you with the best services with the utmost commitment in the area of taxation.

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Financial Insights

Frequently Asked Questions

What does tax planning mean and why is it important?

Tax planning means the reduction of a person’s tax liability by way of utilisation of the deductions, exemptions, and benefits offered by the Income Tax department in the best possible manner.

Tax planning is important for the taxpayers as it helps in:

  • Reducing the tax burden on the taxpayers.
  • Channelising funds from taxable sources to different investment plans like investing funds in tax-saving FDs.
  • Saving funds that can be re-invested in the business and used for its growth, in case of corporates or assesses who own a business.

Form 16 and 16A are the certificates of deduction/collection of tax at source. These certificates show details of TDS/TCS for various transactions between the tax deductor and deductee. It is mandatory for the tax deductors to issue these certificates to the taxpayers. While Form 16 is for only salary income, Form 16A is applicable for TDS on income other than salary.

Yes, you can pay the Income Tax using a credit card also.

Yes, you can file a revised return if you have committed any mistake while filing the original return. The due date for filing a revised return is 31st December following the relevant financial year. For example, for F.Y. 2021-22, the revised return can be filed up to 31st December 2022.

Also, according to the latest budget (Finance Bill 2022), you can now file an updated return also to rectify your mistakes up to two years from the end of the relevant assessment year.

The different types of direct taxes include income tax, corporate tax, capital gains tax, wealth tax, and property tax.

Direct tax is levied on individuals or organizations and is paid directly to the government, while indirect tax is imposed on goods and services and is collected by intermediaries such as retailers.

Governments often provide exemptions, deductions, or tax credits for specific direct taxes. These exemptions and deductions vary on a case to case basis and may apply to certain income sources, investments. 

Since indirect taxes are included in the price of goods and services, they cannot be avoided by the end consumer. However, businesses can sometimes claim input tax credits or exemptions based on certain criteria set by the government.

Indirect taxes are usually calculated as a percentage of the price of a product or service. The specific tax rate depends on the type of goods or services being taxed and the applicable tax regulations in a particular jurisdiction.

Direct taxes, such as income tax, are calculated based on the taxpayer’s income or profits. Tax rates may vary depending on income brackets or the nature of the income (e.g., capital gains). Governments typically provide tax brackets and tax rate schedules to determine the amount owed.

Examples of direct taxes include income tax, corporate tax, capital gains tax, wealth tax, and inheritance tax. Indirect taxes include goods and services tax (GST), value-added tax (VAT), excise duty, customs duty, and sales tax.

Corporate tax refers to the tax imposed on the profits earned by corporate entities, such as companies formed under the Companies Act or any other applicable act. These entities are obligated to pay tax on their income at rates specified under the Income Tax Act, subject to amendments in rates and related provisions over time.

Income tax refers to the tax paid by individuals on their income, while corporate tax is the tax levied on the profits earned by corporate entities.

Indirect taxes can impact international trade and imports/exports by influencing the cost of goods and services, affecting competitiveness, and leading to potential trade barriers or tariff implications, depending on the tax structure and trade agreements in place.

Direct Tax: Individuals, Hindu Undivided Families (HUFs), companies, partnership firms, and other entities that earn taxable income are liable to pay direct taxes.

Indirect Tax: Consumers, businesses, and individuals who purchase goods or services are liable to pay indirect taxes. These taxes are usually collected by businesses on behalf of the government and passed on to the consumers as part of the product or service cost.

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We, a premier Chartered Accountancy firm in Delhi, provides expert financial, taxation, and business advisory services, transforming challenges into opportunities for businesses, entrepreneurs, and individuals.

In today’s demanding business environment, we prioritize our clients’ needs, delivering quality professional services in a timely and cost-effective manner.

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K Alok & Associates is a leading Chartered Accountants firm, specialized in providing accounting, auditing and taxation services. We draw the strength from our team of growing professionals who have vital functional and industry expertise. Joining our firm means taking a role in an exciting human and entrepreneur adventure and embracing the skills to grow your potential quickly.

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