Tax Compliance

Compliance for direct tax in the Indian market involves adhering to the Income Tax Act, 1961, and timely filing of income tax returns (ITR) for individuals, businesses, and corporations. It includes ensuring proper TDS (Tax Deducted at Source) deductions, maintaining detailed financial records, and complying with tax audits when necessary. Businesses must also adhere to transfer pricing regulations, report capital gains, and claim allowable deductions.