Tax Health Check

India’s Direct Tax landscape is continuously evolving, shaped by annual amendments introduced through Finance Bills, regular notifications and circulars, and judicial precedents set by various appellate authorities and courts. In this dynamic environment, businesses must proactively review their tax positions and compliance readiness. MBG Corporate Services supports companies with a structured and comprehensive Direct Tax Health Check to identify risks, strengthen compliance, and enhance tax governance.

How MBG Supports You Through a Tax Health Check

Our Direct Tax Health Check framework helps businesses stay aligned with regulatory expectations and avoid tax disputes. MBG enables you to:

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

MBG’s Comprehensive Tax Compliances Services

• Entity and determining the various applicable 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.