Revamp of tax withholding procedure on import of software and filing for refund

Client : A Finland-based Software Solution Service Provider

Service Offered : Full-Suite Corporate Services (Excluding Accounting)

Sector / Industry : IT and ITeS

Client
Objective

Nexdigm’s end-to-end support spans managing critical business functions, including:

  • Finance Controlling
  • Corporate Tax Compliances
  • Company Secretarial Services
  • Payroll Management and Compliances
Client
Solution
  • Nexdigm advised the parent entity to file Return of Income (ITR) in India to claim refund for the withholding tax. We provided close support while filing their first ITR in India, which can be challenging to first-time filers.
  • We also recommended withholding tax on an accrual basis and conducting a detailed study on this transaction
  • In addition to supporting technical queries while filing the ITR, we went the extra mile by handling multiple technical and administrative challenges, including:
    • Updating signatory details on IT portal
    • Updating the DSC with IT portal

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