GST Returns

File error-free GST Return and in-time. Get your GST return filings done through our experts.

All you need to know about GST return filing GST return filing is completely an online process in India. GST filing is a very easy and quick process. However, it is necessary that returns are filed correctly and error-free to ensure that GST credit can be passed on to the next stage. All you need is GST website login credentials to get started. Once your GST registration is done, filing a GST return is mandatory. Non-filing of the same entails heavy penalties.

All registered persons under GST are required to file various returns. The main returns to be filed are GSTR-3B (which is a monthly summary) and GSTR 1 (details of outward supplies). GSTR 3B is to be filed every month by the 20th. However, the government has recently introduced QRMP Scheme according to which if the turnover for a business for the previous year is up to 5 crores, you can pay your GST on a monthly basis and file your GSTR 3B quarterly.

Finally, an annual GST return GSTR 9 must be filed by all GST-registered entities on/before the 31st of December. GSTR 4 is to be filed if you have opted for a composition scheme. The registered entities will be required to file GST returns even if the entity has not done any business during any period. Additionally, there’s a yearly GSTR 9C to be filed, which is GST Annual Audit. It is a reconciliation statement that needs to be certified by a practicing Chartered Accountant.

TDR Returns

Quickly file error-free TDS Returns with us. This ensures seamless credit to the deductee.

What is TDS Return?
The TDS stands for tax deducted at source. As per the Income Tax Act, any company or person making a payment is required to deduct tax at source if the payment exceeds certain threshold limits. TDS has to be deducted at the rates prescribed by the tax department and TDS Return needs to be filed in appropriate TDS Return Forms.

Important notes:

• TDS Return is required to be filed by any person who is liable to deduct tax at source.
• It is a is a quarterly statement which has to be submitted to the Income Tax Department of India.
• Submitting TDS Return is mandatory if you are a deductor.
• It should contain all details of TDS deducted and deposited by you for a particular quarter.
• Pre-requisites of TDS Return Filing
• The first requirement for filing a TDS Return is to obtain a valid TAN (Tax Deduction Account Number) and PAN (Permanent Account NumberYou need to assess if you are required to deduct TDS on which payments.

Transaction details and Payment details.
Usually, all types of payments such as Salaries, Interest, Professional Fees, Payment to Contractors, Rent of Machinery, Rent of Building etc are covered under liable payments. There are prescribed rates for every type of TDS payments under the Income Tax Act, 1961.

Types TDS return forms:

• TDS return Form 24Q: Statement for tax deducted at source from salaries
• TDS return Form 26Q: Statement for tax deducted at source on all payments other than salaries.
• TDS return Form 27Q: Statement for tax deduction on income received from interest, dividends, or any other sum payable to non residents.
• TDS return Form 27EQ: Statement of collection of tax at source.

So If you are a deductor and has made payments to resident Indians with regards to any of above, you should file Form 24Q (TDS on salary payments) and Form 26Q (TDS on payments other than salaries) on a quarterly basis. If you have made any payments to non-residents, you are required to file Form 27Q on a quarterly basis.

Form 16A and Form 16 (TDS Certificates) can only be generated if you have correctly filed your TDS Returns.

TDS Returns Revision

TDS Return is required to be filed by any person who is liable to deduct tax at source.  A TDS Return is a quarterly statement which has to be submitted to the Income Tax Department of India. Submitting TDS Return is mandatory if you are a deductor. It should contain all details of TDS deducted and deposited by you for a particular quarter.

You may need to file TDS correction or TDS revision if you have wrongly shown any details in original TDS Returns. Such mistakes can be wrong PAN, wrong date, or short or no tax deduction. In all such cases, in order to ensure seamless credit to the person whose TDS is deducted, you should revise your TDS Return.

You may also need to revise your TDS return if you have short paid any TDS and received any notice from income tax department. It should be noted that only by paying short deducted TDS, your work is not over. This has to be given effect through a correctly filed TDS statement.

TDS return may be corrected as many times as needed. There is no due date by which a TDS return has to be revised. Hence, as soon as an error is discovered, you should file a correction return.

PF Returns

File error-free PF Returns and in-time. File your PF returns through our experts.

Provident Fund: Employees Provident Fund (EPF) is a scheme controlled by the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is regulated by Employees’ Provident Fund Organization (EPFO). PF registration is applicable for all establishment which employs 20 or more persons. PF registration can also be obtained voluntarily by establishments having less than 20 employee. Provident fund is a social security system that was introduced for encouraging savings among employees, so as to benefit them during the course of their retirement. Contributions are made by the employer and the employee monthly. PF contributions can only be withdrawn by the employee at the time of his/her retirement, barring a few exceptions. All employers having PF registration are responsible to file returns monthly.

Important Points relating to Provident Fund: PF Return: Provident fund return must be filed by all entities having PF registration every month. PF return is due on the 25th of each month. Further, a final PF return is due on the 25th of April for the year ended on 31st March. PF Payment: Provident Fund (PF) payments are due on the 15th of each month. The employer must deposit a total of 12% or 10% of the employee wages towards PF on or before this date every month. For most entities, the PF rate of 12% would be applicable. UAN: The Employee Provident Fund has launched the Unified Portal to streamline and simplify all aspects of provident fund for both employers and employees. Employees who have the newly allotted UAN can use the Unified Portal for various services.

Due date for Filing PF Returns:

• The due date for Monthly Challan remittance to Bank for PF is 15th of Every Month
• The due date for Monthly PF returns is 15th of subsequent month
• The due date for yearly returns is 30th April every year.

ESI Returns

File error-free ESI Returns and in-time. File your ESI returns through our experts.

Employees’ State Insurance(ESI): Employee State Insurance is a self-financing social security scheme and health insurance plan for Indian workers, offering medical and disablement benefits. Governed by the ESI Act, 1948, it is managed by Employees’ State Insurance Corporation (ESIC) under the Ministry of Labour and Employment. ESIC is expected to manage the fund as per the rules and regulations set forth by the Act.

Applicability of ESI: The ESIC is applicable on all the establishments having 10 or more workers and is beneficial to all the employees earning Rs.15, 000/- or less per month as wages, employer must contribute 3.25 percent and employee must contributes 0.75 percent towards ESI.

Due date for filing ESI Return:

• The employer needs to pay ESI return on a monthly basis, and the due dates are also fixed as follows:
• The due date for ESI return filing is 15th of subsequent month.

Private Limited Company Annual Filing

Every Private Limited Company must file returns on an annual basis. Make your company ROC compliant.

Every company registered in India, including private limited, limited company, one person company and section 8 company must file annual returns with ROC every year. It requires conducting of an Annual General Meeting and filing annual accounts with ROC. AGM must be held within 6 months from the end of the financial year i.e. 30th September every year. In case of new companies, first AGM should be held within 18 months from the date of incorporation or 9 months from the close of financial year whichever is earlier. Companies Act 2013 mandates that your financial year should start from 1st April and end on 31st March. Annual return consists of information and documents that include the Balance Sheet of the Company, Profit & Loss Account, Compliance Certificate, Registered Office Address, Register of Member, Shares and Debentures details, Debt details and information about the Management of the Company. The annual return would also disclose the shareholding structure of the Company, changes in Directorship and details of transfers of securities.

Usually, a company is required to file three forms with ROC:
ROC Form MGT 7: which contains details of shareholding structure, change in directorship and details of the transfer of shares during the year if any. Due date for ROC Form MGT 7 would be 28th November that is 60 days from the conclusion of AGM.
ROC Form AOC4: which contains details and annexure relating to Balance Sheet of the Company, Profit & Loss Account, Compliance Certificate, Registered Office Address, Register of Member, Shares and Debentures details, Debt details and information about the Management of the Company. The due date for ROC Form AOC 4 would be 29th October i.e. 30 days from the conclusion of the AGM.
ROC Form ADT 1: is filed for auditor appointment. The due date for ROC Form ADT 1 would be 14th October i.e within 15 days from the conclusion of AGM.
Penalties for Non compliance in company return filing: Non-filing of Annual returns entail hefty penalties. These are over and above normal fees charged by MCA and there is no way to reduce the penalties.

Public Limited Company Annual Filing

Every Public Limited Company must file returns on an annual basis. Make your company ROC compliant.

What is a Public Limited Company?
A Public Limited Company is a company that offers shares to the general public and has limited liability. Moreover, Public Limited Company is required to publish its true financial status to its shareholders.

Annual Return of the Public Limited Company

The Public Limited Companies are undoubtedly required to make the largest number of compliances every year, as compared to those by all other types of companies. Every Public Limited Company in India mandatorily required to file annual filling every year as per the Companies Act, 2013.

The Public Limited Company needs to file the Balance Sheet, P&L Account and other documents with MCA.

The Annual Return is totally different from the income tax department and it’s governed by Ministry of Corporate Affairs.

Advantages of Public Limited Company Annual Filing

• Proper compliance according to company law is the obligation of every company, it creates transparency.
• The regular compliance increases the credibility of the company.
• The Annual Compliance helps in marinating active status.
• Regular annual compliance results in assuring the clients that the company is regularly reviewing its operation. So, they can trust the company regarding their operations.
• Annual compliance gives a competitive edge in the market. It can be used in advertising the business & assuring the investors or customers about the company’s business.
• Annual compliance by the companies ensures that the data collected for annual compliance is correct.
• Many times small businesses end up with heavy penalties as they do not comply with annual compliances. So, regular annual compliances result in avoiding heavy penalties.

LLP Annual Filing

Every LLP must file returns on an annual basis. Make your LLP ROC compliant.

LLPsare separate legal entities; therefore, it is the responsibility of the Designated Partners to maintain a proper book of accounts and file an annual return with the MCA each financial year. LLP form 11, Form 8 & Income tax return are main compliances.

LLP Annual Filing Forms:

Form 11: Form 11 is a statement of annual return. Every LLP is required to file Annual Return in Form 11 to the Registrar within 60 days from the closure of financial year i.e. Annual Returns have to be filed on or before 30th May every year.

Form 8: Form 8 is a statement of accounts. Every LLP is required to prepare and close its accounts until the 31st March every year. Form 8 is to be filed by at least two Designated Partners with the Registrar within 30 days after completion of six months of Financial Year i.e. 30th October every year.

Late filing of such forms entail penalties of Rs. 100/- per day of default.

OPC Annual Filing

Every One Person Company must file returns on an annual basis. Make your OPC ROC compliant.

Every company registered in India, including private limited, limited company, one person company and section 8 company must file annual returns with ROC every year. OPC is required to hold an annual general meeting, and annual accounts with ROC is required. Companies Act 2013 mandates that your financial year should start from 1st April and end on 31st March. As far as the OPC Annual Filings (OPC Annual Compliances) are concerned, these are just fewer as compared to those required by a private or public limited company.

Annual return consists of information and documents that include the Balance Sheet of the Company, Profit & Loss Account, OPC Compliance Certificate, Registered Office Address, Register of Member, Shares and Debentures details, Debt details and information about the Management of the Company. The annual return would also disclose the shareholding structure of the Company, changes in Directorship and details of transfers of securities.

Usually, a company is required to file three forms with ROC:

• ROC Form MGT 7: which contains details of shareholding structure, change in directorship and details of the transfer of shares during the year if any. The due date for ROC Form, MGT 7 would be 28th November. As One Person Company does not require to hold AGM, the due date for filing Form MGT 7 shall be 60 days from the completion of the 6 months from the end of the financial year.
• ROC Form AOC4: which contains details and annexures relating to the Balance Sheet of the Company, Profit & Loss Account, Compliance Certificate, Registered Office Address, Register of members, Shares and Debentures details, and Debt details and information about the Management of the Company. The due date for ROC Form AOC 4 would be 180 days from the close of the financial year. That means the due date for AOC 4 for OPC shall be 27th September. (If we count 180 days from 1st April).
• ROC Form ADT 1: is filed for auditor appointment. The due date for ROC Form ADT 1 would be 14th October i.e within 15 days from the conclusion of AGM.

Nidhi Company Annual Filing

Do you own a Nidhi Company? Then every Nidhi Company, required to file returns on an annual basis. Make your Nidhi Company ROC Compliant with us.

Nidhi Company: The literal meaning of Nidhi is ‘fund’, ‘finance or treasure’. Nidhi Company is incorporated with the object of developing the habit of thrift and save and reserve the funds amongst its members and also receiving deposits and lending from and to its members only, for their mutual benefit.

Though there are no separate registrations to be done under RBI for a Nidhi company, RBI has the power to issue directives to them. However, Nidhi company needs to fulfill the minimum requirements for the registration, which are as follows:

• A minimum of 7 members
• Minimum 3 directors
• All such companies must apply “Nidhi Limited” after its name.
• Every Nidhi company must ensure within a period of one year from the commencement that it has not less than 200 members.

Nidhi Company Annual FIling:
Nidhi Company is required to file  returns twice a year and yearly returns once with ROC every year. Apart from this Nidhi Company is also required to file its Financial Statements in Form AOC 4 and Annual Return in form MGT 7 annually with ROC.

Following are the forms required to be filed by Nidhi company every year with ROC:

• Form NDH 1
• Form NDH 3
• MCA Form MGT 7
• MCA Form AOC 4

Every Nidhi Company is required to comply with provisions of Companies Act, 2013 and Nidhi Rules, 2014. In a way every Nidhi Company is a Public Limited Company. Hence it requires to follow all the provisions applicable to Public Limited Company unless exempted from compliance of specific section with or without any modification.

Trust Annual Filing

Every Trust Registered in India must file returns on an annual basis. Make your Trust compliant with us.

All you need to know:

What is a Trust? A trust is a legally formed organization where the owner is the trustor and the beneficiary is the trustee. The main purpose of forming a trust is to ensure an effortless transfer of the property of the owner of the trust in the name of the beneficiaries (trustees) as per the provisions mentioned in the trust deed. All the registered trusts in India are governed by the Indian Trust Act 1882. The registered trusts in India, hence, shall have to adhere to the legal provisions of the said Act. These legal provisions, apart from the provisions of the registration and operation of the trusts, include the compliance requirement for Trust such as Income Tax Return Filing, Audit Report Filing, etc., for the Trust in India.

Types of Trust in India:

• Public Trust: A Public Trust is an organization created to benefit the public in general or different classes of people and is not restricted to a selected group of people. A trust created with a charitable or religious purpose shall be called a Public Charitable Trust.
• Private Trust: A Private Trust is an organization which is created for the advantage of a specific person or a specific class of people.

Annual Filing of Trust India:
Once a Private Trust is formed, it requires compliance with the provisions of multiple laws as mentioned below:

• Indian Trust Act 1882
• The Income Tax Act 1961
• Bombay Public Trust Act 1950

Apart from this, the Private Trusts need to comply with the various provisions laid down by the State Legislation as well.