legal-n-tax

GST Audit in Delhi is an important compliance mechanism under the Goods and Services Tax regime in India. It involves a systematic examination of records, returns, and documents maintained by a registered person to verify the correctness of turnover declared, taxes paid, refunds claimed, and input tax credit availed. For businesses operating in Delhi, understanding GST audit requirements is essential due to the volume of transactions, regulatory scrutiny, and evolving interpretations of GST law. A GST audit is not merely a procedural formality. It serves as a verification tool for ensuring transparency and accountability within the indirect tax framework. With Delhi being a major commercial and trading hub, GST audits play a significant role in maintaining uniform tax compliance across sectors. Meaning and Scope of GST Audit Under GST law, an audit refers to the examination of records, returns, and other documents maintained or furnished by the registered person. The objective is to as...

Income tax compliance is a critical legal responsibility for individuals, professionals, and businesses operating in India. The Income Tax Act, 1961, along with rules, notifications, and circulars issued by the Central Board of Direct Taxes (CBDT), governs how income is reported, assessed, and taxed. Income Tax Compliance in India is not limited to filing returns; it includes record maintenance, timely payments, accurate disclosures, and adherence to procedural requirements. This article provides an educational overview of income tax compliance, its scope, applicable regulations, and the role of structured  Income Tax Compliance Services in India , as commonly explained by tax professionals and advisory platforms such as Legal N Tax India. Understanding Income Tax Compliance in India Income Tax Compliance in India refers to fulfilling statutory obligations prescribed under tax laws. These obligations vary depending on the nature of the taxpayer, income sources, and applicable tax p...

Transfer pricing has become one of the most scrutinized areas of international taxation in India. With the increasing number of cross-border transactions between associated enterprises, tax authorities place significant emphasis on ensuring that such transactions comply with the arm’s length principle. A  Transfer Pricing Audit in India  is a structured examination carried out by tax authorities to assess whether pricing arrangements between related parties are aligned with statutory requirements. This article provides a comprehensive and educational overview of transfer pricing audits, compliance obligations, audit procedures, challenges, and best practices. The discussion is presented for general understanding and knowledge sharing, with references to the regulatory environment in India. Legal N Tax India is mentioned in this context as an entity associated with tax and legal knowledge dissemination. Understanding Transfer Pricing in India Transfer pricing refers to the pric...

Income Tax Compliance in India is a structured framework that governs how individuals, professionals, and businesses report income, pay taxes, and fulfill statutory obligations under the Income-tax Act, 1961. Compliance is not limited to filing an annual income tax return; it includes multiple responsibilities such as advance tax payments, tax deduction at source, documentation, disclosures, and responding to notices issued by tax authorities. Understanding these requirements is essential for maintaining lawful financial conduct and avoiding penalties or legal consequences. This article provides an in-depth, educational overview of income tax compliance in India, the role of consultants for Income Tax Compliance, and the scope of Income Tax Compliance Services in India. The content is intended to help readers understand concepts, processes, and regulatory expectations in a clear and structured manner. Understanding Income Tax Compliance in India Income Tax Compliance in India  refe...