In a bid to ease the tax submissions process in the post-pandemic era and support businesses and professionals, Mazars Advisory LLP, a leading consulting firm, announced on Wednesday the launch of its pioneering, online, innovative platform MASIndia (www.masindia.live). Backed by a group of professionals with extensive industry knowledge and experience in taxation matters, the online platform will provide a complete solution to all direct and indirect tax queries. The new platform will address a myriad of complex submissions related to compliance, transfer pricing, assessment proceedings, litigation matters, opinions, and any other advisory needs, the company said in its statement.
Before the introduction of a paperless system, tax submissions presented to authorities were heard orally and implemented manually. But the country’s Income Tax regime has evolved in the past decade and has become contactless. It is accurate in cross-referencing the transactions and seamlessly mapping the business ecosystem. However, with the online assessment and appeal schemes, cases are decided mainly based on written submissions provided by the taxpayers. Therefore, it calls for quality written submissions that substantiate claims comprehensively. However, there are significant gaps experienced in communication between the taxpayer and the Income Tax Department. MASIndia is here to fill those gaps and make the submissions accurate, thus eliminating cost and time overruns.
Ensuring the complete privacy of client data, MASIndia operates in a paperless environment. It uses the latest information technology tools for secure communication, secure uploading/downloading of documents and a secure video conferencing facility over the Internet. The browser-friendly, MASIndia works on all platforms, including MS Edge, Chrome, Mozilla etc. MAS has plans to include other advisory services on this platform in future.
Clients can also take advisory support offline if they wish to. Commenting on the MASIndia launch, Mr. Bharat Dhawan, Managing Partner, Mazars in India said, “We are delighted to launch MASIndia, our unique online platform for businesses and professionals, who are involved in submissions under the direct tax and indirect Tax regime. With MASIndia, we aim to help businesses amplify their growth most efficiently. The guidance from our team of experts and advisors will offer the required mentorship to businesses and tremendously benefit entrepreneurs seeking external help in organizing and expanding their business.”
“With the launch of MASIndia, Mazars aims to help numerous small and big enterprises operating in the country,” Dhawan added. In India, about 58.3 million ITRs have been filed for FY21-22 by the end of 31st July 2022. Over 2.2 million businesses including companies filed their tax returns in AY 2018-19.
Commenting on the MASIndia offering, Mr. S K Singh, Former Principal Chief Commissioner of Income Tax and Principal Advisor, Mazars Advisory Solutions (MASIndia) said, “I congratulate Mazars Advisory LLP on the launch of MASIndia. Government departments have been increasingly using information technology for tax compliances and regulatory proceedings. However, the enhanced use of technology means submissions need accuracy. Despite digitization, businesses need an expert eye on the evolving compliances. Therefore, submissions should undergo a thorough check and need advisory support to remove errors and make them regulatory compliant. MASIndia brings together a set of experts for businesses, who can comprehensively understand the issues and provide a cost-effective solution.”
Mazars is an internationally integrated partnership, specialising in audit, accountancy, advisory and tax services. Operating in over 90 countries and territories around the world, we draw on the expertise of more than 44,000 professionals – 28,000+ in Mazars’ integrated partnership and 16,000+ via the Mazars North America Alliance – to assist clients of all sizes at every stage in their development.
In India, Mazars has an ambitious growth plan and already has a national presence with a strong team of over 1,000 professionals with 6 offices located in Bengaluru, Chennai, Delhi, Gurugram, Mumbai and Pune. Our professionals have in-depth experience in sectors like Energy, Telecom, BFSI, Automobiles, Technology, Real Estate, Shipping, Services, Manufacturing and Retail.
Find out more on www.mazars.co.in.