Tax & Compliance
Complete tax filing and compliance management with automated alerts for your business.
Core Tax Filings & Returns
| Tax Type | Private Limited | LLP | OPC | Partnership |
|---|---|---|---|---|
| GST (Goods and Services Tax) | ||||
| GST Registration | Mandatory if turnover > ₹40L (₹20L for services) | Mandatory if turnover > ₹40L (₹20L for services) | Mandatory if turnover > ₹40L (₹20L for services) | Mandatory if turnover > ₹40L (₹20L for services) |
| GSTR-1 (Monthly) | 11th of following month | 11th of following month | 11th of following month | 11th of following month |
| GSTR-3B (Monthly) | 20th of following month | 20th of following month | 20th of following month | 20th of following month |
| GSTR-9 (Annual) | December 31st of following FY | December 31st of following FY | December 31st of following FY | December 31st of following FY |
| E-Invoicing | Mandatory if turnover > ₹5 crores | Mandatory if turnover > ₹5 crores | Mandatory if turnover > ₹5 crores | Mandatory if turnover > ₹5 crores |
| Income Tax | ||||
| Corporate Tax Rate | 25% (22% under 115BAA) | Taxed as partnership | 25% (22% under 115BAA) | Individual slab rates |
| ITR Filing | ITR-6 by Nov 30th (with audit) | ITR-5 by Nov 30th (with audit) | ITR-6 by Nov 30th (with audit) | ITR-5 by Nov 30th (with audit) |
| Advance Tax (Quarterly) | Jun 15: 15%, Sep 15: 45%, Dec 15: 75%, Mar 15: 100% | |||
| Tax Audit | Required if turnover > ₹1 crore | Required if turnover > ₹1 crore | Required if turnover > ₹1 crore | Required if turnover > ₹1 crore |
| TDS on Salaries | Form 24Q - Quarterly by Jul 31, Oct 31, Jan 31, May 31 | |||
| TDS on Non-Salary | Form 26Q - Quarterly by Jul 31, Oct 31, Jan 31, May 31 | |||
| TDS Payment | 7th of following month | |||
| Form 16 Issuance | By June 15th for preceding FY | |||
MCA (Ministry of Corporate Affairs) Compliance
| Compliance Type | Private Limited | LLP | OPC | Partnership |
|---|---|---|---|---|
| Annual Filings | ||||
| Annual Return | Form MGT-7 within 60 days of AGM | Form 11 within 60 days from FY end | Form MGT-7A within 60 days of AGM | Not Applicable |
| Financial Statements | Form AOC-4 within 30 days of AGM | Form 8 within 30 days of filing with RoC | Form AOC-4 within 180 days of FY end | Not Applicable |
| Annual General Meeting | Within 6 months of FY end | Not Required | Within 6 months of FY end | Not Required |
| DIR-3 KYC | All directors by Sep 30th annually | All partners by Sep 30th annually | All directors by Sep 30th annually | Not Applicable |
| Event-Based Filings | ||||
| Director Appointment | Form DIR-12 within 30 days | Form 4 within 30 days | Form DIR-12 within 30 days | Not Applicable |
| Director Resignation | Form DIR-11 within 30 days | Form 4 within 30 days | Form DIR-11 within 30 days | Not Applicable |
| Share Allotment | Form PAS-3 within 30 days | Not Applicable | Form PAS-3 within 30 days | Not Applicable |
| Address Change | Form INC-22 within 30 days | Form 15 within 30 days | Form INC-22 within 30 days | Not Applicable |
| Board Meetings | Minimum 4 per year (120-day gap) | As per LLP Agreement | Minimum 2 per year | Not Required |
Employment & Payroll Compliance
| Compliance Area | Applicability | Frequency | Due Date | Forms/Returns |
|---|---|---|---|---|
| Provident Fund (EPF) | ||||
| Registration | 20+ employees (10 in some states) | One-time | Within 1 month of applicability | Online via EPFO portal |
| Monthly Contribution | 12% employee + 13.61% employer | Monthly | 15th of following month | ECR (Electronic Challan cum Return) |
| Annual Return | All registered establishments | Annual | April 30th | Form 5 & 10 |
| Employees' State Insurance (ESI) | ||||
| Registration | 10+ employees earning ≤ ₹21,000/month | One-time | Within 15 days of applicability | Online via ESIC portal |
| Monthly Contribution | 0.75% employee + 3.25% employer | Monthly | 15th of following month | ESI Return via portal |
| Professional Tax | ||||
| Registration | State-specific (varies) | One-time | Before first deduction | State-specific forms |
| Payment & Return | All salaried employees above threshold | Monthly/Quarterly | Varies by state (typically month-end) | State-specific returns |
| Other Labor Compliance | ||||
| Shops & Establishments | All businesses | Annual renewal | State-specific | State-specific forms |
| Gratuity | 10+ employees | On completion of 5 years | Within 30 days of eligibility | Form I (Notice of opening) |
| Minimum Wages | All employers | Ongoing | As per state notification | Register maintenance |
DPIIT Recognition & Startup Benefits
| Benefit Category | Requirement | Benefit Details | Filing/Compliance |
|---|---|---|---|
| DPIIT Registration | • Incorporated < 10 years • Turnover < ₹100 crores • Working on innovation |
Access to tax benefits, funding, and government schemes | Online registration via Startup India portal |
| Income Tax Exemption (Section 80-IAC) | DPIIT-recognized + IMB approval | 100% tax exemption for 3 consecutive years (out of first 10 years) | Application to Inter-Ministerial Board |
| Angel Tax Exemption (Section 56(2)(viib)) | DPIIT-recognized + capital ≤ ₹25 crores | Exemption from angel tax on investments | Declaration in ITR |
| Capital Gains Exemption (Section 54GB) | Investment in DPIIT-recognized startup | Capital gains tax exemption on investments | Claim in ITR with supporting documents |
| Patent Fee Rebate | DPIIT-recognized | 80% rebate on patent application fees | Apply with DPIIT certificate |
| Self-Certification | DPIIT-recognized (first 5 years) | Self-certification for 6 labor laws & 3 environmental laws | Self-declaration, reduced inspections |
Automated Compliance Alert Schedule
| Frequency | Compliance Items | Due Dates |
|---|---|---|
| DAILY | • TDS/TCS payment monitoring (avoid daily interest) • GST e-way bill generation for goods movement • Payment gateway reconciliation |
Daily monitoring |
| MONTHLY | • GST GSTR-1 filing • GST GSTR-3B filing • EPF ECR filing & payment • ESI return & payment • Professional Tax payment • TDS/TCS challan payment • Board meeting reminder (quarterly minimum) |
11th (GSTR-1) 20th (GSTR-3B) 15th (EPF/ESI) 7th (TDS/TCS) State-specific (PT) |
| QUARTERLY | • TDS return filing (Form 24Q, 26Q) • Advance tax payment • GST GSTR-9C reconciliation (turnover > ₹5 crores) • Board meetings • Financial review |
Q1: Jul 31 (TDS), Jun 15 (Advance Tax) Q2: Oct 31 (TDS), Sep 15 (Advance Tax) Q3: Jan 31 (TDS), Dec 15 (Advance Tax) Q4: May 31 (TDS), Mar 15 (Advance Tax) |
| ANNUAL | • Income Tax Return filing • Tax audit report (if applicable) • GST annual return (GSTR-9) • MCA annual return (MGT-7/Form 11) • Financial statements filing (AOC-4/Form 8) • DIR-3 KYC for directors • Form 16 issuance • FEMA FLA return (if FDI received) • AGM (within 6 months of FY end) • Statutory audit completion • License renewals • Insurance policy renewals |
Sep 30 (Tax Audit) Oct 31/Nov 30 (ITR) Dec 31 (GSTR-9) 60 days from AGM (MCA filings) Sep 30 (DIR-3 KYC) Jun 15 (Form 16) Jul 15 (FEMA FLA) |
| EVENT-BASED | • Director appointment/resignation (DIR-12/DIR-11) • Share allotment (PAS-3) • Registered office change (INC-22) • ROC late fee payment • New employee onboarding (EPF, ESI, Form 11) • Foreign investment reporting (FC-GPR) • Related party transaction disclosure • Board resolutions for banking, loans, investments |
Within 30 days of event (specific forms as applicable) |
Penalties for Non-Compliance
| Compliance Area | Late Filing Penalty | Interest Charges | Other Consequences |
|---|---|---|---|
| GST Returns | ₹50/day per return (₹20 for nil returns), max ₹5,000 | 18% per annum on unpaid tax | Penalty up to 100% of tax for evasion, GST registration cancellation |
| Income Tax Return | Up to ₹10,000 under Section 234F | 1% per month under Section 234A (late filing), 234B (advance tax shortfall), 234C (deferment) | Prosecution for willful default, loss of deductions |
| TDS Returns | ₹200/day (min ₹10,000, max TDS amount) | 1-1.5% per month for delayed deduction/payment | Disallowance of expense, penalty under Section 271H |
| MCA Filings | ₹100/day (increases for prolonged delays) | Not applicable | Director disqualification, company strike-off, loss of limited liability |
| EPF/ESI | Not applicable | 12% per annum (damages) for delayed payment | Criminal prosecution, imprisonment up to 3 years |
| Professional Tax | State-specific penalties | Interest as per state rules | Registration cancellation, business closure orders |
Industry-Specific Compliance Requirements
| Industry | Key Licenses/Registrations | Compliance Authority | Renewal Period |
|---|---|---|---|
| Technology & Digital | |||
| Data Privacy | Digital Personal Data Protection Act compliance (once rules notified) | Data Protection Board (upcoming) | Ongoing compliance |
| Payment Gateway | Payment Aggregator License | Reserve Bank of India (RBI) | Not applicable (one-time) |
| Software/IT | Copyright registration, Software license compliance | Copyright Office | Lifetime (copyright) |
| E-commerce | |||
| E-commerce Entity | E-commerce registration, Grievance Officer appointment | Consumer Affairs Ministry | Ongoing compliance |
| Online Seller | Legal Metrology registration for packaged goods | State Legal Metrology Department | Annual |
| Food & Beverages | |||
| Food Business | FSSAI Registration/License (based on turnover) | Food Safety and Standards Authority | 1-5 years (based on type) |
| Restaurant/Cafe | Health/Trade License, Fire NOC, Eating House License | Municipal Corporation, Fire Department | Annual |
| Healthcare & Pharma | |||
| Drug Manufacturing | Drug License (Manufacturing) | State Drug Controller | 3-5 years |
| Drug Distribution | Drug License (Wholesale/Retail) | State Drug Controller | 3-5 years |
| Clinical Establishment | Clinical Establishment Registration | State Health Department | 5 years |
| Financial Services | |||
| NBFC | NBFC Registration | Reserve Bank of India | Not applicable |
| Insurance | Insurance Broker/Agent License | IRDAI | 3 years |
| Manufacturing | |||
| Factory | Factory License, Pollution Control NOC | State Labour Dept, Pollution Control Board | Annual |
| Import/Export | IEC (Import Export Code) | DGFT (Directorate General of Foreign Trade) | Lifetime |
FEMA Compliance for Foreign Investment
| Compliance Type | Applicability | Form Required | Timeline |
|---|---|---|---|
| Foreign Direct Investment (FDI) Reporting | Companies receiving foreign investment | Form FC-GPR (Foreign Currency - Gross Provisional Return) | Within 30 days of receipt/allotment |
| Annual Return on FDI | Companies with foreign investment | Form FC-GPR (Annual) | By July 15th annually |
| Foreign Liabilities & Assets | Companies with FDI, ECB, or foreign assets | FLA Return | By July 15th annually |
| Overseas Direct Investment (ODI) | Companies investing abroad | Form ODI (various parts) | Before investment & annually |
| External Commercial Borrowing (ECB) | Companies taking foreign loans | Form ECB, ECB-2 Return | Within 7 days of drawdown & quarterly |
| Transfer of Shares to NRI/Foreign Nationals | Share transfers involving foreign residents | Form FC-TRS | Within 60 days of transfer |
Audit Requirements & Certifications
| Audit Type | Applicability Threshold | Conducted By | Report/Form |
|---|---|---|---|
| Statutory Audit | Mandatory for all companies (Pvt Ltd, OPC) | Chartered Accountant | Audited Financial Statements |
| Tax Audit | Business turnover > ₹1 crore (₹10 crores if 95%+ digital) | Chartered Accountant | Form 3CD, Form 3CB |
| Cost Audit | Specific sectors with turnover > ₹35 crores (manufacturing) or ₹50 crores (utilities) | Cost Accountant | Form CRA-3, CRA-4 |
| Internal Audit | • Turnover > ₹200 crores, OR • Outstanding loans > ₹100 crores |
Chartered Accountant / Cost Accountant | Internal Audit Report |
| Secretarial Audit | • Paid-up capital ≥ ₹50 crores, OR • Turnover ≥ ₹250 crores |
Company Secretary | Form MR-3 |
| GST Audit | Annual turnover > ₹5 crores | Chartered Accountant / Cost Accountant | Form GSTR-9C (Reconciliation Statement) |
| Transfer Pricing Audit | International transactions > ₹1 crore | Chartered Accountant | Form 3CEB |
Intellectual Property Registration & Maintenance
| IP Type | Registration Authority | Validity Period | Renewal Requirements |
|---|---|---|---|
| Trademark | Controller General of Patents, Designs & Trademarks | 10 years from registration | Renewable every 10 years indefinitely |
| Patent | Indian Patent Office | 20 years from filing date | Annual maintenance fees from 3rd year onwards |
| Copyright | Copyright Office (Ministry of Education) | Lifetime + 60 years (for literary, artistic works) | No renewal required |
| Design Registration | Design Wing, Patent Office | 10 years (extendable by 5 years) | One-time extension possible |
| Trade Secret Protection | Not registered (protected through contracts) | As long as kept confidential | Maintain NDAs, employment agreements |
Frequently Asked Questions
The due date for GSTR-3B filing is the 20th of the following month.
The deadlines are: Jun 15 (15%), Sep 15 (45%), Dec 15 (75%), and Mar 15 (100%).
The penalty for delayed MCA filings is typically ₹100 per day, which can increase for prolonged delays.
EPF registration is mandatory for businesses with 20 or more employees (10 in some states).
A Tax Audit is generally required if the turnover is greater than ₹1 crore (or ₹10 crores if 95%+ of transactions are digital).
100% tax exemption for 3 consecutive years (out of the first 10 years), provided the startup has IMB approval.
The company must file Form FC-GPR within 30 days of receiving the funds or allotting the shares.
A Trademark is valid for 10 years from registration and is renewable every 10 years indefinitely.
Key Compliance Recommendations
- Implement Compliance Calendar: Use automated reminder systems for all monthly, quarterly, and annual filings
- Engage Professional Services: Partner with qualified CAs, CSs, and legal advisors for complex compliance areas
- Maintain Proper Documentation: Keep all invoices, contracts, board minutes, and registers updated and accessible
- Digital Record Keeping: Use cloud-based accounting and compliance management software
- Regular Internal Audits: Conduct quarterly internal reviews to identify and fix compliance gaps
- Stay Updated: Monitor changes in tax rates, filing procedures, and regulatory requirements
- Separate Business & Personal: Maintain clear separation between personal and business finances
- Timely Payments: Never delay statutory payments to avoid interest and penalties
- Leverage Startup Benefits: Apply for DPIIT recognition to access tax exemptions and benefits
- Plan for Scale: Understand compliance requirements that kick in at different revenue/employee thresholds