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Tax Reporting & Assessment
Income tax and GST are handled as one practice. Reporting is the return and the reconciliation behind it. Assessment is what follows when the department examines that return.
Income tax
The computation comes first. Taxable income is built from the books, with the adjustments the Act requires, and the return is filed from that computation. Advance tax and TDS are checked against what was deposited through the year, not estimated at the time of filing.
Assessment covers a notice, a scrutiny, or a rectification. The reply is confined to what the communication asks. Challans, the computation, and the workings are attached so the answer can be verified without a second round of letters.
GST
Reporting covers registration where it is required, and the returns after that: outward supplies, input tax credit, and the annual reconciliation between the books and the returns already filed. Differences are listed before a form is submitted.
Credit is taken only where the invoice, the payment, and the supplier’s return support it. Assessment and scrutiny are answered from that same reconciliation. A mismatch is explained from the books, not from a revised figure chosen to clear the portal.
A question on a live matter goes to office@kgcmail.com.