Synopsis Income tax is one of the critical elements for consideration in any M&A transaction, along with indirect tax, foreign investment guidelines and stamp duty. iStock There are numerous issues that companies and advisors must deal with while finalising a transaction structure. India has been one of the fastest-growing economies in the world; this can be confirmed with the large number of M&A deals taking place in the country. As per figures reported last year, India recorded M&A activity worth $80 billion in 2020 (a 7% increase from 2019). While a large part of the investment has gone into Jio Platforms, the statistics certainly indicate the growth opportunities the country offers.