Income Tax

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Income Tax

An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income.

The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies is usually known as corporate tax and is commonly levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each additional unit of income increases. Taxable income of taxpayers resident in the jurisdiction is generally total income less income producing expenses and other deductions. Generally, only net gain from the sale of property, including goods held for sale, is included in income for a business. However, for an Individual, Taxable income may be his salary, income from his house property, gain on sales of Shares, Mutual Funds and Virtual Digital Assets and Interest / Dividend Income.

SIGMAC & Co. offers expert consultancy to Corporate, Foreign Companies, individuals (both resident and non-resident), partnership firm who are liable to pay tax according to the Indian tax legislation. We are also dealing in filing income tax for various category of persons under the Indian Income Tax Act. Service that we are offering:

  • Preparation of return
  • Tax Assessment before authorities in India
  • Consultancy in Tax matter and Tax planning
  • Transfer Pricing Matters
  • Withholding Tax Compliance
  • Income Tax Appeal before CIT(Appeals) and ITAT