Direct tax

What the work covers

• Returns of income and advance tax computations
• Tax deduction and collection at source: rates, returns and certificates
• Assessments, reassessments and appeals before the tax authorities
• Transfer pricing documentation for international and specified domestic transactions
• Withholding and treaty questions on payments to non-residents
• Tax planning within the law, including the effect of the 2025 Act

The law it sits in

Two Acts at once

For the next few years most taxpayers deal with both Acts. Income of 2025-26 is returned for assessment year 2026-27 under the 1961 Act. Income from 1 April 2026 falls in tax year 2026-27 under the 2025 Act, and its return is due in 2027.

Assessments, appeals and penalties already under way continue under the 1961 Act until they finish (s. 536). Keeping the two tracks separate, in files and in calendars, avoids most of the transition errors.

Transfer pricing

Transactions with associated enterprises must be priced at arm's length and documented. The documentation is prepared during the year, not after it, so that the pricing policy and the evidence line up when the accountant's report is signed.

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