Virtual TaxCorp AI Assistant

India's first AI assistant specifically designed for taxation and corporate law professionals. Get expert guidance, analysis, and assistance in seconds.

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Advanced Reasoning

Our AI assistant can reason through complex tax and legal problems, considering multiple factors, precedents, and regulations to provide nuanced recommendations.

Comprehensive Knowledge Base

Access expertise across Income Tax, GST, Company Law, and all other practice areas with specialized knowledge of Indian tax and legal frameworks.

Real-Time Updates

The AI assistant stays current with the latest amendments, notifications, and case laws, ensuring you always receive the most up-to-date guidance.

How the AI Assistant Works

Solving complex tax and legal problems with artificial intelligence

Ask Complex Questions

Simply type your question or upload relevant documents. The AI understands context, specific terminology, and the nuances of Indian tax and corporate law.

"What are the implications of the recent CBDT circular on section 9 for royalty payments to foreign entities located in countries with DTAAs?"

"How does the GST reverse charge mechanism apply to services procured from unregistered dealers in SEZs?"

Receive Comprehensive Analysis

The AI assistant processes your query using multiple reasoning models and our proprietary knowledge base to generate expert responses.

Relevant legal provisions and sections
Recent case laws and precedents
Practical implications and recommendations
Alternate approaches with pros and cons

Follow-up & Clarifications

Continue the conversation with follow-up questions. The AI maintains context and provides more specific information based on your needs.

What documentation should I maintain to support this position?

For the position on royalty payments, you should maintain the following documentation:

Copy of the royalty agreement specifying the exact nature of rights transferred
Tax Residency Certificate from the foreign entity
Form 10F for beneficial ownership declaration
Documentation showing the actual utilization of the intellectual property in India

Document Generation & Integration

Request professional documents based on the discussion or integrate with our document generation system for SCN replies, memos, or opinion letters.

Opinion Memos

SCN Replies & Appeals

Client Advisory Notes

Practical Use Cases

How the Virtual TaxCorp AI Assistant can transform your practice

Tax Planning & Strategy

For Tax Consultants

Explore various tax planning approaches for clients with complex situations, analyzing the implications of different structures and identifying the most tax-efficient solutions.

"Our AI can analyze a client's multiple income streams (domestic business, foreign dividends, capital gains, and rental properties) and suggest optimized tax structures with potential savings opportunities."

— TaxCorp AI Development Team

Tax Notice Responses

For Practitioners

Analyze tax notices, identify key issues, and draft comprehensive responses backed by relevant case laws, circulars, and legal provisions to defend client positions.

"Upload a Section 143(2) notice, and our AI will parse the key issues, suggest applicable legal precedents, and help draft a structured response with supporting documentation requirements."

— Legal Research Division, TaxCorp

Compliance Reviews

For Corporate Professionals

Conduct thorough compliance reviews across multiple regulatory frameworks, identify potential risks, and recommend remedial measures to ensure full compliance.

"The system can analyze a company's GST and TDS compliance patterns, flag potential issues like mismatches in input credits or incorrect TDS rates, and suggest corrective actions before tax authorities raise concerns."

— Compliance Solutions Team, TaxCorp

The Technology Behind Our AI

Combining advanced AI technologies with specialized tax and legal knowledge to deliver unparalleled insights

Multiple AI Reasoning Models

We leverage state-of-the-art reasoning models that can analyze complex scenarios, understand relationships, and apply logical reasoning to tax and legal questions.

Proprietary Knowledge Base

Our AI is trained on India's largest repository of tax and corporate law resources, including case laws, circulars, notifications, and expert analyses.

Enterprise-Grade Security

All conversations with the AI assistant are secured with end-to-end encryption, ensuring your sensitive client information remains confidential.

Continuous Improvement

Our AI system continuously learns from new case laws, government notifications, and expert inputs to enhance its accuracy and relevance.

AI Assistant Demo

I'm planning a corporate restructuring where a private company will demerge its manufacturing division into a newly formed entity. What are the key tax considerations under Income Tax and GST?

Income Tax Considerations for Demerger:

To qualify as a tax-neutral demerger under Section 2(19AA) of Income Tax Act:
- All assets and liabilities of the manufacturing division must be transferred at book value
- The resulting company must issue shares to shareholders of demerged company on proportionate basis
- At least 75% of shareholders (by value) of demerged company should become shareholders of resulting company
Capital gains implications:
- If conditions of Section 2(19AA) are met, no capital gains tax for the demerged company under Section 47(vib)
- No capital gains tax for shareholders under Section 47(vid)
Other considerations:
- Tax losses of manufacturing division can be carried forward by the resulting company (Section 72A)
- MAT implications on the book profits due to the demerger

GST Considerations:

Transfer of business as a going concern:
- Schedule II of CGST Act treats transfer of business as a going concern as neither a supply of goods nor services
- Exempted from GST under Notification No. 12/2017-Central Tax (Rate)
ITC implications:
- Transfer of unutilized ITC to the resulting company (Rule 41A of CGST Rules)
- Requires specified Form ITC-02 to be filed
Registration requirements:
- New registration for the resulting company
- Amendment in registration of demerged company

Would you like me to elaborate on any specific aspect of these considerations?

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