Vedant Bhalerao

• Drafted responses to multiple income tax notices, along with the show-cause notices issued related to ongoing income tax assessments.
• Drafted and filed various applications with the tax department, including rectification applications, order giving effect applications, stay applications, replies to show cause notices, and other miscellaneous follow-ups.
• Drafted multiple appeal memos for CIT(A) and ITAT appeal, and assisted in the preparation of CIT(A) submissions for various Indian clients.
• Drafted objections before DRP.
• Reviewed the litigation status of the clients and time to time provided further course of action in respect of outstanding demand.
• Represented before the DRP and Assessing Officer for multiple matters.
• Advisory on taxability of transactions for resident and non-resident corporates under the provisions of the Income Tax Act, 1961, and the applicable Double Taxation Avoidance Agreement.
• Advised to foreign clients on multiple aspects like implications of Fixed and Agency Permanent Establishment (‘PE’) in India, software royalty taxation, taxation of FTS, etc.
• Prepared income tax computation and filed income tax returns of Indian and foreign companies including PE of foreign companies in India, reviewing of quarterly advance tax workings for multiple clients.
• Guided clients on the applicability of withholding tax on domestic and international transactions.
• Advised clients on various issues such as applicability of equalization levy, tax issues around deputation of employees to India.
• Assisted clients in obtaining of Lower withholding certificate u/s 197.
• Assisted clients in obtaining counsel's opinion for various complex tax issues.
• Conducted internal training sessions within the team on complex judicial judgments and other multiple topics related to corporate and international taxation.

• Assisted in preparation and filing of Tax Audit Report.

Taxation

• Assisted clients on applicability of TDS Provision and filed e- TDS returns, 24Q, 26Q and TCS return 27EQ. Resolved the TDS demands raised by Income Tax Department.
• Assisted in preparation of Tax Audit Reports of the Act of corporate and non-corporate clients.
• Prepared and filed income tax returns including preparation of computation of individuals, Firms, and private limited companies.
• Dealt in Other income tax matters such as Advance Tax calculations and Capital Gain computation.

Audit

• Independently conducted statutory audits of clients having turnover of ₹ 2 crores to ₹ 20 crores including audit planning, preparation of working papers and drafting of statutory audit report.
• Assisted in internal audit of a company in automobile industry having turnover of approximately ₹ 450 crores, wherein performed internal audit procedures for HR.
• Designed a process for record maintenance, billing and revenue recognition of annual maintenance contracts.
• Conducted physical verification of Stock & Stock Audit of private limited companies.
• Assisted in Branch audit of a cooperative banks, in verification of loan accounts.

Miscellaneous

• Preparation of the Project Feasibility Report in line with the requirements of the Banks to ensure smooth loan Disbursement.
• Prepared certificates such as Net-Worth Certificate, End use of fund certificates & Form DPT 3.