India has a complex income tax and international tax regime. With the law constantly change to reflect the current policy of the government and a tenacious tax department that tends to litigate most issues, handling tax function in most companies can be challenging. The changing business environment with digital becoming cornerstone of companies, tax assessments and compliances require constant review and support.
Direct Tax at L&S
The income tax team at the firm handles all aspects of tax requirements for companies. These include providing services relating to tax assessments, tax advisory, structuring and investment strategy, due diligence and litigation. Our attorneys advice tax payers on issues relating to business re-structuring, setting up new units, withholding taxes, royalty and fee for technical services, transfer pricing and contracting. In M&A transactions, our tax attorneys have undertaken investment structuring, tax due diligence and review. They also advice on various clauses that have tax impact.
In the area of litigation, the team represents clients from quasi-judicial authorities and tribunals to High court and Supreme court. The firm’s approach has been to prepare the case from the first level of litigation to the higher courts to ensure a uniform strategy with relevant evidence to support the positions taken by the tax payer. Our attorneys also appear themselves before the authorities and courts, including High Courts and Supreme Court. This has ensured proper representation and preparation of the case for our clients. In addition to regular litigation services, L&S also provides review and chamber support services for high stake matters offering independent review and inputs for strengthening the case. Handholding during investigations by tax authorities is one of the critical services offered by the firm.
Our individual tax verticals are:
Estate Duty and Succession Planning
High Net Worth Individual Tax
Tax Litigation & Controversy
Our team combines experienced lawyers, accountants, economists, retired revenue officers and technologists to provide a complete suite of services to our clients. This helps in providing viable solutions by blending knowledge about the industry/ technology with expertise in law to assist taxpayers. The attorneys have handled several complex issues from transfer pricing adjustments, permanent establishment disputes, taxation of passive income, taxation of offshore drilling and exploration services, etc.
Capital Gains arising out of Joint Development Agreements – Analysis of Section 45(5A) of Income-tax Act
22 July 2021