Tax system in India is becoming increasingly complex, individuals and business units need specialist tax lawyers who can identify risks and opportunities, and help them ensure compliance. Helpline Law provides on of the largest database of Tax Lawyers in Goa who have comprehensive knowledge of Indian Taxation System and deep sector insight, providing the highest level of legal advice to their clients. The taxation law experts in our database also counsel their clients in matters relating to the tax aspects of retirement plans, commercial transactions, sales, mergers, reorganizations, tax controversies, and preparation of business, fiduciary, and personal tax returns. Moreover, these experts try to assist prestigious multinational clients on double taxation avoidance treaties that India has with various countries, the tax holidays available to 100% Export Oriented Units, Special Economic Zones, etc.
Tax Incentives for Special Economic Zones Units in Goa:
The incentives and facilities offered to the units in SEZs for attracting investments into the SEZs, including foreign investment include:-
Duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units
100% Income Tax exemption on export income for SEZ units under Section 10AA of the Income Tax Act for first 5 years, 50% for next 5 years thereafter and 50% of the ploughed back export profit for next 5 years. (Sunset Clause for Units will become effective from 01.04.2020)
Exemption from Minimum Alternate Tax (MAT) under section 115JB of the Income Tax Act. (withdrawn w.e.f. 1.4.2012)
Exemption from Central Sales Tax, Exemption from Service Tax and Exemption from State sales tax. These have now subsumed into GST and supplies to SEZs are zero rated under IGST Act, 2017.
Other levies as imposed by the respective State Governments.
Single window clearance for Central and State level approvals.
The major incentives and facilities available to SEZ developers include:-
Exemption from customs/excise duties for development of SEZs for authorized operations approved by the BOA.
Income Tax exemption on income derived from the business of development of the SEZ in a block of 10 years in 15 years under Section 80-IAB of the Income Tax Act. (Sunset Clause for Developers has become effective from 01.04.2017)
Exemption from Minimum Alternate Tax (MAT) under Section 115 JB of the Income Tax Act. (withdrawn w.e.f. 1.4.2012)
Exemption from Dividend Distribution Tax (DDT) under Section 115O of the Income Tax Act. (withdrawn w.e.f. 1.6.2011)
Exemption from Central Sales Tax (CST).
Exemption from Service Tax (Section 7, 26 and Second Schedule of the SEZ Act).
What are the most common issues subject to tax litigation?
Tax litigation is the process of taking legal action over the conflicts arising due to the breach of any tax related law. It defines the procedure between the opposing parties, which are basically- the tax payer on one side and the state on the other hand. Tax disputes often arise in the following areas:
Individual and partnership matters.
Charitable and other forms of not-for-profit organizations.
Cross-border tax matters on permanent establishment and attribution.
Transfer pricing matters (such as marketing intangibles, management cross charges, compensation for captive service providers and development centres, royalty payments, location savings, selection of transfer pricing methods and comparable companies).
General Anti Avoidance Rule (GAAR).
Matters relating to withholding tax.
Matters relating to allowance of exemptions/deductions.
Taxation of royalty income.
Reassessments/reopening of an assessment.
"Black money" that is, undisclosed foreign income and assets.
Search and seizure.
Classification matters relating to indirect tax.
Valuation issues under the Customs Act 1962.
Various issues under the Goods and Service Tax Law.
All about appeals and hearings/trial:
Appeal is a proceeding resorted to rectify an erroneous decision of a court by submitting the question to a higher court, or court of appeal. It means ‘making a request’ and in legal parlance, it means ‘apply to a higher court for a reversal of the decision of a lower court. Hearings before the Assessment Officer, Commissioner of Income Tax (Appeals) (CIT(A)), Dispute Resolution Panel, Authority for Advance Rulings and the Settlement Commission are private hearings. However, hearings before the Income Tax Appellate Tribunal, High Court and Supreme Court are open to the public.
Appellate Hierarchy in case of Direct Tax:
The taxpayer can appear either in person or through an authorized representative at the hearings before all of these forums. The relevant forum will hear both sides' arguments and can either allow the appeal or dispose of the appeal. If any of the party fails to attend the hearing, the hearing can go ahead with only the other party providing their arguments and a decision can be made on the merits (ex parte). However, ex parte hearings are rare in practice, and will usually only be conducted where the petitioner for the ex parte hearing can show that the non-attending party is in default.
Appellate Hierarchy in case of Indirect Tax:
Address of Tribunals & Courts in Goa for processing taxation appeals:
Income Tax Appellate Tribunal, Panaji Bench
Address: Pundalik Nivas, 1st floor, Near Patto Foot Bridge- 403001, Goa, India
Income Tax Office
Address: Patto Centre, Panaji, Goa-403001, India
Address: Lyceum Complex, Near Portuguese Consulate, Altinho, Panaji, Goa-403001, India
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This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Persons accessing this site are encouraged to seek independent counsel for advice in India abroad regarding their individual legal, civil criminal issues or consult one of the experts online.