Health Check

Direct Tax law in India is ever evolving and updated/refined through amendments proposed every year vide Finance Bills and notifications/circulars issued time to time. It is also impacted by judicial precedents established by rulings of various Appellate Authorities and Courts.

How MBG can help you

  • Help improve awareness of tax compliance.
  • Identify possible risks and hidden tax exposures.
  • Providing recommendations to mitigate the tax risks.

Our comprehensive suite of services

  • Entity and determining the various applicable Direct Tax compliances.
  • Review of direct tax positions adopted in preparation of Tax computation and Filing of Income Tax return on the basis of following documents:
    1. Financial statement
    2. Tax computation
    3. Tax Audit report
    4. TP Certificate
    5. TP report
  • Checking for material non-compliances, if any, in filing of corporate tax returns, withholding tax returns and tax audit reports etc., if applicable.
  • Checking whether the TDS/TCS is being deducted/collected on the transactions on which TDS/TCS is required to be deducted/collected.
  • Checking whether the TDS/TCS deducted/collected is being deposited to the Government treasury within due time.
  • Reviewing Form 15CA/15CB for making overseas remittances, wherever applicable are being filed or not.
  • Analyzing whether any advance tax liability is arising and if so, then whether the same has been deposited within due time.
  • Whether the company has opted for taxation under section 115BA/115BAA/115BAB, if yes, then whether the relevant forms has been filed.
  • Checking Transfer Pricing Compliances.
  • Checking the eligibility criteria of the Deductions/Allowances claimed and whether they are within the prescribed time limits.
  • Checking whether all the disallowances have been made and properly disclosed in the ITR.
  • Analysis of the set off and carry forward of the business losses/losses under any other head of income, unabsorbed depreciation and credit of Minimum Alternate Tax, if any.
  • Analyzing the effects of the Income Computation Disclosure Standards (ICDS).
  • Checking the Minimum Alternate Tax under section 115JB has been correctly calculated, accordingly disclosed in the ITR and the form 29B are being filed.
  • To check the liability of Income Tax, interest and penalty if any.

What can we help you achieve?

Stay one step ahead in a rapidly changing world and build a sustainable future with us.

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Explore more Direct Tax services:

Corporate Tax Services

International Tax Services

Transfer Pricing in India

Personal Tax Services Indian Nationals

Expatriate Taxation in India

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