This blog article offers a thorough overview of tax audit for transfer pricing in India. It addresses the fundamentals of transfer pricing, who must file a tax audit report, important report components, and ways to guarantee regulatory compliance. This post is a must-read for organizations with foreign transactions or specific local transactions as the deadline of October 31, 2024, draws near.

This blog offers a thorough explanation of Section 135A of the Income Tax Act, which mandates that certain taxpayers include extra information about transactions with individuals outside of India in their tax audit report. The blog discusses Section 135A's requirements, such as who must comply, what information must be supplied, and the consequences of not complying. For taxpayers, chartered accountants, and tax professionals who need to know how Section 135A will affect their tax compliance responsibilities, it is a must-read.