A Tax Health Check is a structured, independent diagnostic review of an individual's, NRI's, or business's complete tax and regulatory compliance position — identifying gaps, misclassifications, missed deductions, unreported income, incorrect TDS treatment, GST filing errors, and FEMA exposures before they escalate into notices, penalties, or prosecution. Unlike a return filing or a statutory audit, a Tax Health Check is a proactive, advisory-led exercise — conducted with the taxpayer's interests at its centre — designed to surface risk early, quantify exposure, and recommend remedial action while voluntary compliance remains available and carries minimal consequence. It draws on the full spectrum of Indian tax and regulatory law: the Income-tax Act 1961, GST Acts 2017, the Tax Deduction at Source framework across Sections 192 to 206CCA, the Foreign Exchange Management Act 1999, SEBI disclosure obligations, and the Black Money (Undisclosed Foreign Assets and Income) Act 2015.
The Indian tax authority's analytical capability has undergone a step-change in the last five years. The Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) now aggregate data from over 40 third-party sources — banks, registrars, depositories, forex dealers, mutual funds, insurance companies, property registrars, GST network, employer TDS returns, and credit-card companies — and map every major financial transaction against the taxpayer's filed returns. The income-tax department's risk-management system (RMS) cross-matches AIS data with ITR disclosures and flags cases automatically for non-filers, under-reporters, and high-value transaction mismatches. A taxpayer who has not declared share-sale proceeds in ITR, received a large foreign remittance without Schedule FSI disclosure, purchased property without reflecting capital, or received rent without declaring rental income will now receive an e-verification notice or full scrutiny notice — often within months of the year-end.
Our Tax Health Check service is available in three formats. Individual & NRI Health Check — covering residential-status determination, ITR completeness, AIS / Form 26AS reconciliation, capital-gains computation accuracy, foreign-asset Schedule FA / FSI disclosure, TDS credit matching, FEMA account reclassification, and DTAA claim verification. Business / Corporate Health Check — covering corporate ITR accuracy, MAT / AMT computation, deferred tax position, GST return reconciliation (GSTR-1 / 3B / 2B mismatch), TDS / TCS compliance across all sections, advance-tax adequacy, related-party disclosure under Schedule SH-1 / AL, Director's tax compliance linkage, and FEMA / RBI reporting for companies with FDI or ODI. Cross-Border / International Tax Health Check — covering PE risk, POEM, DTAA eligibility, Form 15CA / 15CB accuracy, withholding tax on payments to non-residents, FEMA repatriation trail, CRS / FATCA obligations, and Schedule FA foreign-asset completeness for returning NRIs.
Residential-status determination, ITR completeness, AIS reconciliation, capital-gains accuracy, foreign-asset disclosure, TDS credit matching, DTAA claims.
Corporate ITR accuracy, MAT / AMT, GST return reconciliation, TDS / TCS compliance across all sections, advance-tax adequacy, related-party disclosure.
GSTR-1 / 3B mismatch, ITC eligibility and reversal accuracy, RCM compliance, e-invoicing, e-way bill, place-of-supply errors, annual return reconciliation.
PE risk, POEM assessment, DTAA eligibility, Form 15CA / 15CB accuracy, withholding tax on NRI payments, FEMA trail, CRS / FATCA, Schedule FA completeness.
TDS deduction accuracy across salary, rent, professional fees, contractor, interest, property purchase — TCS on LRS, vehicle, scrap — challan reconciliation.
Wealth structuring review, Schedule AL asset reconciliation, benami risk, gift tax implications, trust / HUF compliance, succession and estate planning gaps.
Transactions reflected in AIS but not disclosed in ITR — share sales, MF redemptions, property sales, foreign remittances, interest income, dividend receipts.
Wrong holding period classification, missed indexation, incorrect cost-of-acquisition, grandfathering errors for pre-Jan 2018 equity, ESOP / RSU taxation errors.
Overseas bank accounts, foreign shares, ESOPs from foreign employer, retirement accounts (401k, pension), property abroad — non-disclosure triggers Black Money Act.
ITC claimed on blocked credits (Sec 17(5)), ITC without GSTR-2B match, Rule 42 / 43 proportionate reversal not computed, TRAN-1 ITC mismatch exposure.
TDS not deducted on contractor payments, rent above threshold, professional fees, property purchase — triggers disallowance under Sec 40(a)(ia) and interest / penalty.
NRE / NRO account not redesignated on return, NRI investments held without PIS, foreign property not disclosed, LRS breach — civil penalties under FEMA Sec 13.
Incorrect NRI / RNOR / ROR classification leading to wrong scope of total income — global income inadvertently excluded or incorrectly included, treaty benefits misapplied.
Property / investments held in name of relative with funds sourced from another — benami transaction triggers attachment and prosecution under the Benami Transactions Act, 1988.
Document collection, AIS / Form 26AS pull, ITR comparison, GST return analysis, TDS return review — risk mapped against applicable law.
Structured report with traffic-light risk rating — High / Medium / Low — for each compliance area, quantified exposure estimate, and prioritised action plan.
Updated / revised ITR filing, GST amendment returns, TDS correction statements, FEMA compounding, voluntary disclosure coordination, and prospective fix.
Complete matching of AIS / TIS data against filed ITR — identifying unreported income, missed TDS credits, and discrepancies attracting e-verification notices.
Day-count analysis under Sec 6, RNOR eligibility, DTAA tie-breaker application, and implications on scope of total income — especially critical in year of departure or return.
Recomputation of capital gains — holding period, cost of acquisition, indexation, Sec 112A grandfathering, ESOP / RSU vesting gain, debt MF reclassification post FA 2023.
Schedule FA completeness — overseas bank accounts, foreign shares, ESOPs, 401k / pension, foreign property — and Schedule FSI / TR for foreign income and DTAA relief.
GSTR-1 / 3B / 2B reconciliation, ITC eligibility and reversal computation, RCM on import services, e-invoicing applicability, and GSTR-9 / 9C annual return accuracy.
Section-wise TDS deduction review — salary, rent, contractor, professional fees, property, interest — TCS on LRS / vehicle / scrap, short-deduction exposure under Sec 201.
NRE / NRO account status, PIS classification, inward remittance documentation, outward investment filings, FC-GPR / FLA status, and FEMA contravention identification.
ITR-6 accuracy, MAT computation under Sec 115JB, deferred tax position, depreciation schedule, Sec 80-series deductions, and disallowances under Sec 40 / 43B.
Asset and liability disclosure in Schedule AL — immovable property, financial assets, jewellery, art, vehicles — reconciled against AIS, purchase records, and source of funds.
Benami risk mapping — property / investments in nominee names with third-party funding — Sec 68 / 69 unexplained credit / investment exposure identification and remediation.
Revised ITR under Sec 139(5) within the deadline, or Updated ITR under Sec 139(8A) with additional tax — correcting errors, adding omitted income, and rectifying computations.
Going-forward tax calendar, TDS rate chart, GST compliance SOP, AIS monitoring system, and annual pre-filing review — converting a one-time health check into a continuous shield.
Income-tax department has flagged a mismatch — AIS shows transactions not reflected in ITR; immediate reconciliation and response needed.
Status change from NRI to RNOR / ROR — account redesignation, Schedule FA obligation, FEMA reclassification, DTAA tie-breaker for transition year.
Leaving India for employment or business — NRI status trigger, NRE / NRO conversion, global income scope reduction, DTAA applicability from departure year.
Property sale / purchase, share sale, inheritance, large gift, business sale — ensuring correct ITR disclosure, TDS compliance, and capital-gains computation.
GSTR-1 / 3B mismatch exceeding threshold, ITC reversal demand, GST audit notice — pre-audit reconciliation and voluntary correction before department action.
Self-filed ITRs for 3–5 years — comprehensive review of capital-gains, deductions, TDS credits, foreign income, and AIS mismatch across all open years.
FC-GPR / FC-TRS / FLA compliance check, Section 195 TDS on payments to foreign AE, FEMA contravention identification, and compounding strategy for gaps.
High-value assets — domestic and foreign — requiring Schedule AL, benami risk check, source-of-funds traceability, and HUF / trust compliance review.
Gather ITRs, AIS, Form 26AS, GST returns, bank statements, foreign documents — scoped to applicable modules.
Line-by-line analysis — AIS recon, capital-gains recompute, TDS match, GST reconciliation, FEMA position, foreign asset check.
Traffic-light rated Health Check Report — High / Medium / Low findings with exposure quantum, law reference, and remediation priority.
Revised / Updated ITR filing, GST correction, TDS rectification, FEMA compounding application, voluntary disclosure — all co-ordinated.
Compliance calendar, TDS rate chart, GST SOP, AIS monitoring, and annual pre-filing review — turning insight into ongoing protection.
Partner with our tax specialists for a comprehensive Tax Health Check — AIS reconciliation, capital-gains audit, foreign-asset review, GST diagnostic, TDS compliance check, FEMA position review, and voluntary correction before the department finds it first.
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