Taxation – An Overview

In India, our tax structure is divided into two parts: : Direct Tax and Indirect Tax. It is crucial to understand the overall framework of both. Direct taxes are levied on the income earned by individuals and corporate entities, where the responsibility to pay lies directly with the taxpayer. In contrast, indirect taxes are imposed on the sale of goods and the provision of services, where the obligation to collect and deposit taxes lies with the sellers. However, the ultimate burden is borne by the end consumers.

Both the Central and State Governments levy significant taxes in India. Additionally, Local Authorities such as Municipalities and Panchayats are empowered to collect specific taxes and charges within their jurisdictions.

In recent years, the government has introduced various reforms aimed at improving the Ease of Doing Business, including efforts toward simplification, transparency, and automation. One of the most impactful reforms is the Goods and Services Tax (GST), which streamlined multiple indirect taxes and eliminated the cascading effect.

As a firm of Chartered Accountants, we at KKReddy are committed to offering expert consultancy to help you stay compliant with all your tax obligations. Taxation is a specialized domain that demands precision, interpretation, and strategic analysis. Our team of professionals brings the technical expertise needed for effective tax planning, documentation, representation, and administration.
 

Domestic Taxation

Governments depend on taxation as a primary source of revenue. India's domestic tax landscape includes Income Tax, GST, property taxes, and previously, wealth tax (which has now been abolished). While taxation systems differ globally, India's domestic taxation structure continues to evolve.

At KKReddy, we provide services to a wide range of clients—from multinational corporations to private business houses. Our focus is on engineering smart compliance tools and offering comprehensive tax solutions. We also handle tax assessments and representations with precision and care.

1. Direct Tax

With tax laws evolving rapidly, timely compliance is essential to avoid penalties and legal issues. Structuring tax-efficient business models can significantly reduce the burden on companies and ensure full compliance. Direct taxes in India mainly include Corporate Tax and Personal Income Tax.

We at KKReddy are recognized as leading Income Tax Consultants in Hyderabad, offering trusted Tax Advisory Services and audit support across Telangana. Our services are tailored to meet the needs of businesses and individuals alike.

Personal Tax

Personal tax refers to income tax levied on individuals apart from their business income. Our firm assists clients in filing personal tax returns, advance tax, and withholding tax obligations. We also represent clients before tax authorities and guide them on matters such as claiming refunds for deceased taxpayers.

We are among the few Chartered Accountants in Hyderabad offering expert services to NRIs and non-residents, including IT return filing, PAN application, and FRRO registration. Our reputation as the best TDS consultants in Hyderabad is built on consistent delivery and client trust.

Corporate Tax

Corporate Tax is imposed on the profits of companies registered under the Companies Act or other statutes. Companies are liable to pay tax at rates prescribed under the Income Tax Act, which are subject to periodic changes.

Our services include:

• Corporate tax return filing

• Tax planning and structuring

• Regular compliance

• Legal advisory and representation

We are proud to be among the best corporate tax advisors in Hyderabad, offering personalized and strategic tax solutions for companies of all sizes.