Any merger and acquisition have to be carefully planned and executed; therefore, before closing a deal and to make informed decisions, the buyer typically carries out specific agreed-upon procedures to address the agreement from commercial, financial, tax and legal standpoints. Besides critical economic issues, this involves a broad spectrum of tax and regulatory matters such as exchange control, indirect taxes, income taxes and capital market regulations. The agreed-upon procedures are generally described as a ‘due diligence exercise’. Therefore, due diligence provides a potential buyer with relevant information about the business/ target proposed to be acquired and helps manage associated risks. This article talks about Due Diligence and various aspects of the same.