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 Running a business in today’s competitive world involves more than just offering great products or services. Every organisation faces a variety of risks — financial, operational, legal, and reputational. At the same time, staying compliant with laws and regulations has become critical. A well-planned business risk assessment and legal compliance strategy helps companies identify potential threats, avoid penalties, and ensure smooth operations.   Understanding Business Risk Assessment   A business risk assessment is a systematic process of identifying, analyzing, and managing potential risks that could negatively affect a company. These risks may arise from internal operations, market conditions, technology, or changes in laws and regulations. The steps to identify business risks and compliance gaps generally include: Identify potential risks: List all possible threats to your business — such as financial losses, data breaches, employee errors,...

Running a business in India entails complying with a wide range of legal and regulatory requirements. From company registration and labour laws to taxation and contracts, every business decision carries potential legal risks. A legal audit helps you identify these risks before they turn into costly problems.   A legal audit is a systematic review of your company’s legal documents, processes, and compliance practices. It ensures that your business operates in accordance with applicable Indian laws, including the Companies Act, 2013, the Income Tax Act, 1961, the Goods and Services Tax (GST) Act, 2017 , Labour Laws , Data Protection Guidelines , and other industry-specific regulations.   By regularly conducting legal compliance audits , businesses can strengthen their governance, prevent penalties, and build long-term trust with stakeholders.   What Is a Legal Audit?   A legal audit is similar to a financial audit, but instead of reviewing balance sh...

The Goods and Services Tax (GST) system is set to undergo significant changes starting October 2025 , and businesses across India need to be prepared. These updates aim to improve transparency, accuracy, and compliance in GST filings. Understanding them now will save time, prevent errors, and ensure smooth tax operations.   Manual Approval of Input Tax Credit (ITC)   One of the most significant changes is the end of auto-population of ITC in GSTR-2B. Previously, ITC was automatically reflected, but from October 2025: Taxpayers will need to manually accept or reject invoices in the new Invoice Management System (IMS). Only accepted invoices will be eligible for ITC in GSTR-3B. Why it matters: This ensures that taxpayers have full control over their ITC claims, reducing the risk of claiming ineligible credits.   Locked Tax Liability in GSTR-3B   Another major change is that auto-populated liability figures in GSTR-3B will no...

As the new Assessment Year (AY) 2025–26 approaches, taxpayers, professionals, and businesses must stay informed about the latest updates in Indian taxation laws . The Union Budget 2025 introduced several significant amendments impacting both individuals and corporations. These updates in tax law AY 2025-26 aim to improve compliance, encourage digital transactions, and simplify the tax system. This article outlines the recent amendments in Indian tax law , including the latest direct tax changes 2025 and other taxation law changes 2025 India that you need to be aware of.   Revised Income Tax Slabs Under New Regime   One of the most notable AY 2025-26 tax law updates is the revision of tax slabs under the new tax regime. Income Range Tax Rate Up to ₹3,00,000 0% ₹3,00,001 – ₹6,00,000 5% ₹6,00,001 – ₹9,00,000 10% ₹9,00,001 – ₹12,00,000 15% ...

Running a growing business in India is exciting — but when it comes to taxes, compliance, and paperwork, things can get complicated quickly. From filing ITRs and managing GST to ensuring you're always audit-ready, the financial side of business often becomes a headache for entrepreneurs and startups. That’s where Lex N Tax steps in. At Lex N Tax, we believe that business owners should focus on growing their business — not getting lost in government forms or worrying about missed deadlines. Our team of expert Chartered Accountants and tax consultants is here to make taxation and compliance simple, stress-free, and fully transparent . Let’s explore how LexnTax supports growing businesses in India and why we might be the right financial partner for your journey.     1. End-to-End Tax Filing Made Simple   Whether you're a sole proprietor, a partnership, or a private limited company, tax filing in India requires accuracy, timeliness, and up-to-date knowledge of ...

Tax laws in India can be complex and ever-changing. Whether you are an individual taxpayer, a small business owner, or a large corporation, there may come a time when you find yourself facing a tax notice, audit, or legal dispute with the Income Tax Department . In such situations, having a tax litigation expert in Delhi by your side can make a significant difference. In this blog, we’ll explain what tax litigation is, when you need an expert, and how a qualified tax litigation consultant can help you protect your financial interests. What is Tax Litigation? Tax litigation refers to the legal process of resolving disputes between taxpayers and tax authorities, such as the Income Tax Department or GST authorities . These disputes may involve: Incorrect assessments Penalty orders Scrutiny notices Rejection of deductions Appeals against tax demands TDS-related issues Transfer pricing cases GST input tax credit disputes Why Tax Litigation Is Common in De...

Running a business in India is not only about providing products or services—it also involves meeting government obligations. Two of the most important requirements are taxation and regulatory compliance . Although they might sound similar, they are different in purpose and scope. Here’s a simple breakdown to understand the distinction.   Understanding Taxation in India Taxation is the method by which the government collects revenue to fund essential services like infrastructure, healthcare, and education. For businesses, taxation usually involves: Income Tax – Levied on profits earned. GST (Goods and Services Tax) – Charged on the supply of goods and services. TDS (Tax Deducted at Source) – Deducted on payments such as salaries, rent, and contractor fees. In essence, tax compliance means paying the right amount of tax on time and filing accurate returns.   What Regulatory Compliance Really Means Regulatory compliance goes b...