What are the types of internal audits?

Internal audits can include operational audits, compliance audits, financial audits, forensic audits, IT audits, and environmental audits.

What are the key standards in internal audits?

The key standards include independence, objectivity, proficiency, quality assurance, and communication.

What is the risk-based approach in internal audits?

The risk-based approach prioritizes auditing high-risk areas within an organization to focus resources where they are needed most.

What are the 5 C's of internal audit?

The 5 C's are Control, Compliance, Cost, Consistency, and Communication, which are critical for a successful audit process.

How does an internal audit help in risk management?

Internal audits help identify and mitigate risks by ensuring that internal controls are effective and that the company complies with laws and regulations.

Taxation Consultancy Services: With Felix Advisory Taxation Consultancy

Published on February 24, 2025

One of the most important aspects of financial planning for businesses and individuals is taxation. Effective tax management demands knowledge, strategy, and adherence to rules and regulations. And this is exactly where taxation consultancy services are needed.

What is Tax Consultancy?

Tax consultancy is an area of expertise related to tax laws, regulations, and compliance requirements. Tax Consultant: A tax consultant assists businesses, individuals and professionals in ensuring complices with tax requirements and also suggests tax planning options available with the company.

What Does a Tax Consultant Do?

Tax Consultant in India — A tax consultant provides taxation services in India, which include:

Tax planning and optimization
Filing income tax returns
Taxation compliance for International trade
Support in tax audits and compliance
Advising on investments to save tax

Felix Advisory is a taxation consultancy that guides businesses towards minimizing risks and compliance with tax laws.

What Are Tax Consultant Services?

Tax consultants provide a range of services that will help businesses to handle their taxation effectively. These services include:

Tax Planning and Advisory
Tax planning means organizing financial transactions to legally minimize tax liabilities. Felix Advisory offers tailored tax consulting solutions, ensuring businesses realise all eligible deductions, exemptions and incentives.
Direct and Indirect Tax Compliance
- Income Tax Compliance: Ensuring accurate tax return filings and reporting.
- GST Compliance: Managing Goods and Services Tax (GST) filings and audits.
- Service Tax for Consultants in India: Providing guidance on applicable taxes for professionals and consultants.
Tax Audit Assistance
Data is not a one-time thing, you must provide documentation, and you have compliance standards. And that is where Felix Advisory steps in, helping firms with tax audit preparedness and regulatory authority correspondence.
International Taxation
International tax laws are critical for global businesses. Felix Advisory specializes in cross-border taxation and assists firms in navigating global tax laws.
Tax Dispute Resolution
Handling tax disputes with authorities can be complex. Felix Advisory provides representation and support in tax appeals, assessments, and litigations.

Why Choose Felix Advisory for Tax Consultancy in India?

In India, Felix Advisory is a trusted tax consultant which provides the best tax solutions according to the requirements of a business.

Tax Experts – Our team include tax service leaders with more than 20 year experience (including around 10 year with Big4) , Amit Jindal, Amit Nayyar & Anchal Arora an supported by senior team members as Jatin Kumar & Bhupender Singh
Complete End-to-End Tax Solutions – From Tax Planning to Compliance, and Dispute Management.
Customized Advisory Services – Custom tax plans that maximize your savings.
Tax Compliance & Risk Management – Assisting organizations in maintaining compliance with tax laws and avoiding penalties.

Frequently Asked Questions (FAQs)

What Is Taxation Consultancy & Why Is It Important?
Taxation consultancy is the professional guidance in tax laws, assisting the individuals and businesses to bear the minimum amount of liabilities while ensuring full compliance with the set financial standards.
What is service tax for consultants in India, and how is it different from GST?

Before GST, it was known as Service tax. The current regime imposes 18% GST on consultants for their services.
What are tax consultant services, and how do they help businesses?

Tax consultants help in the areas of tax planning, tax compliance, audits, and dispute resolution to help businesses manage their taxes efficiently.
How does taxation for consultants in India work?
For consultants, GST registration is a prerequisite if the turnover exceeds ₹20 lakh a year. They must submit periodic returns and pay the relevant taxes on the services provided.
What is factoring in finance, and how does it relate to tax consulting?

In finance, factoring means selling invoices, and in turn it affects your tax calculations. Felix Advisory helps businesses with taxation relating to financial transactions.
How can Felix Advisory help with taxation in India?
Felix Advisory provides compliance & consulting in tax which guides the businesses & professionals to prepare for compliance & maximize their tax savings.

Felix Advisory - Your Expert in Tax Consultancy Services

Felix Advisory is there to guide businesses and individuals on proper tax management with tax expert consulting services.