Author: admin

Tax Chart for a Domestic Private Limited Company in India for Assessment Year (AY) 2025-26

Posted on by admin

📊 Income Tax Rate Chart – Domestic Private Limited Company

ParticularsTax RateSurchargeEffective Tax Rate
Normal Domestic Company (Not opting for concessional tax)30%7% if income > ₹1 Cr
12% if income > ₹10 Cr		30% to 34.944%
Company under Section 115BA (engaged in manufacturing, registered on or after 01-Oct-2019 and opted for this section)25%7% if income > ₹1 Cr
12% if income > ₹10 Cr		25.17% to 29.12%
Company under Section 115BAA (concessional rate without incentives/deductions)22%10% flat surcharge regardless of income25.168%
Company under Section 115BAB (new manufacturing company registered on or after 01-Oct-2019)15%10% flat surcharge regardless of income17.16%

✅ Additional Points:

  • Health and Education Cess: 4% is applicable on the total of income tax and surcharge in all cases.
  • Minimum Alternate Tax (MAT):
    • Applicable @15% (plus surcharge and cess) under normal provisions.
    • Not applicable if company opts for 115BAA or 115BAB.
  • Dividend Distribution Tax (DDT): Abolished from FY 2020-21 onwards. Dividends are now taxable in the hands of shareholders.

🔎 Comparison Example:

ScenarioTax Rate (Including surcharge & cess)
Regular Company (Income < ₹1 Cr)30% + 4% = 31.2%
Company under 115BAA22% + 10% = 25.168%
Company under 115BAB15% + 10% = 17.16%

🗓️ Compliance Calendar – May 2025

Posted on by admin

📜 GST Compliance

📅 Due Date📄 Form/Return📝 Details
10th MayGSTR-7 / GSTR-8TDS & TCS Returns under GST
11th MayGSTR-1Monthly Outward Supply Return
13th MayGSTR-1 (QRMP) / GSTR-5 / GSTR-6QRMP (Quarterly), Non-resident, ISD
20th MayGSTR-3BMonthly Summary Return
22nd MayGSTR-3B (QRMP – Group 1 States)Quarterly Filers
24th MayGSTR-3B (QRMP – Group 2 States)Quarterly Filers
28th MayGSTR-11UIN Holders Inward Supply Details

💰 Income Tax Compliance

📅 Due Date📝 Details
7th MayPayment of TDS/TCS deducted in April
15th MayIssuance of TDS Certificates for March
15th MayForm 24G by Govt Deductors (April)
30th MayTCS Return filing for Q4 of FY 2024-25 (Form 27EQ)
31st MayStatement of Financial Transactions (SFT) filing (Form 61A)
31st MayFiling Form 61B (Statement of Reportable Account by reporting financial institutions)

👥 PF & ESI Compliance

📅 Due Date📝 Details
15th MayPF and ESI contribution payment for April 2025

🏛️ Other Statutory Compliance

📅 Due Date📝 Details
15th MayProfessional Tax Return (varies by state)
21st MaySEBI Disclosure for listed companies (if applicable)

📅 Annual Compliance Calendar for LLPs (2025-26)

Posted on by admin
ComplianceFormDue DateDetails
Annual ReturnForm 1130th May 2025– Filing of summary of partners and basic details of LLP.
– Mandatory for all LLPs, even if no business was conducted.
Income Tax ReturnITR-531st July 2025– If audit NOT required.
– File ITR-5 under Income Tax Act.
31st October 2025– If audit IS required (turnover > ₹1 crore for business or ₹50 lakh for profession).
Statement of Account and SolvencyForm 830th October 2025– Financial Statements and declaration of solvency.
– Mandatory audit if turnover > ₹40 lakh or contribution > ₹25 lakh.
Director KYCDIR-3 KYC30th September 2025– Mandatory for Designated Partners (DPs) having DIN allotted before 31st March 2025.
– File either DIR-3 KYC (if first-time or any change) or DIR-3 KYC-Web (if no change).

📌 Some Important Points to Remember:

  • Even dormant or non-operating LLPs must file Form 11 and Form 8.
  • Failure to file attracts heavy penalties (₹100/day of default per form, without upper limit).
  • PAN and Aadhaar should be updated and linked for filing DIR-3 KYC.
  • LLPs must maintain proper books of accounts to ease Form 8 filing.
  • Check if your LLP needs an audit — based on turnover/contribution.

Compliance Calendar for the month of April 2025

Posted on by admin

🧾 Goods and Services Tax (GST) Compliance

Due DateForm/CompliancePeriodDescription
10.04.2025GSTR-7March 2025Return for Tax Deducted at Source (TDS) to be filed by the tax deductor.
10.04.2025GSTR-8March 2025Return for Tax Collected at Source (TCS) to be filed by e-commerce operators.
11.04.2025GSTR-1March 2025Statement of outward supplies for taxpayers with turnover > ₹1.5 crores or those opting for monthly returns.
13.04.2025GSTR-1 (QRMP)Jan-Mar 2025Quarterly return for taxpayers under the QRMP scheme.
13.04.2025GSTR-5March 2025Return for non-resident taxable persons.
13.04.2025GSTR-6March 2025Return for Input Service Distributors (ISD).
18.04.2025CMP-08Jan-Mar 2025Quarterly statement-cum-challan for composition taxpayers.
20.04.2025GSTR-3BMarch 2025Summary return for taxpayers with annual turnover exceeding ₹5 crores.
22.04.2025GSTR-3BJan-Mar 2025Summary return for taxpayers under the QRMP scheme in category X states.
24.04.2025GSTR-3BJan-Mar 2025Summary return for taxpayers under the QRMP scheme in category Y states.
25.04.2025ITC-04Oct 2024-Mar 2025Details of goods sent to or received from a job worker.
28.04.2025GSTR-11March 2025Statement of inward supplies for UIN holders (e.g., embassies).
30.04.2025GSTR-4FY 2024-25Annual return for composition taxpayers.

💰 Income Tax Compliance

Due DateCompliancePeriodDescription
07.04.2025Deposit of TDS/TCSMarch 2025Monthly deposit of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS).
14.04.2025Issue of TDS CertificatesFebruary 2025Issuance of TDS certificates for tax deducted under sections 194-IA, 194-IB, 194M, and 194S.
15.04.2025Form 15CCJan-Mar 2025Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers).
30.04.2025Form 24GMarch 2025Submission of Form 24G by government offices where TDS/TCS has been paid without a challan.
30.04.2025Challan-cum-statementMarch 2025Furnishing of challan-cum-statement in respect of tax deducted under sections 194-IA, 194-IB, 194M, and 194S.
30.04.2025Form 61Oct 2024-Mar 2025E-filing declaration containing particulars of Form 60 received during the period.
30.04.2025Form 15G/15HJan-Mar 2025Uploading declarations received from recipients in Form 15G/15H during the quarter.

👥 PF and ESI Compliance

Due DateCompliancePeriodDescription
15.04.2025PF PaymentMarch 2025Monthly deposit of Provident Fund contributions by employers.
15.04.2025ESI PaymentMarch 2025Monthly deposit of Employees’ State Insurance contributions by employers.

🏢 Other Statutory Compliance

Due DateCompliancePeriodDescription
05.04.2025LWF Remittance (Kerala)FY 2024-25Employers in Kerala must remit their Labour Welfare Fund contributions by this date.
09.04.2025ECB 2 ReturnMarch 2025Reporting of actual External Commercial Borrowings transactions to the Reserve Bank of India.
21.04.2025SEBI DisclosuresMarch 2025Submission of shareholding patterns and corporate governance reports by listed companies.
Favicon
Favicon
Favicon
Favicon
Favicon

Sources

4o

You said:

Compliance Calendar for the month of April 2025

ChatGPT said:

​Here’s a comprehensive compliance calendar for April 2025, detailing key statutory deadlines across various domains:​

🧾 Goods and Services Tax (GST) Compliance

Due DateForm/CompliancePeriodDescription
10.04.2025GSTR-7March 2025Return for Tax Deducted at Source (TDS) to be filed by the tax deductor.
10.04.2025GSTR-8March 2025Return for Tax Collected at Source (TCS) to be filed by e-commerce operators.
11.04.2025GSTR-1March 2025Statement of outward supplies for taxpayers with turnover > ₹1.5 crores or those opting for monthly returns.
13.04.2025GSTR-1 (QRMP)Jan-Mar 2025Quarterly return for taxpayers under the QRMP scheme.
13.04.2025GSTR-5March 2025Return for non-resident taxable persons.
13.04.2025GSTR-6March 2025Return for Input Service Distributors (ISD).
18.04.2025CMP-08Jan-Mar 2025Quarterly statement-cum-challan for composition taxpayers.
20.04.2025GSTR-3BMarch 2025Summary return for taxpayers with annual turnover exceeding ₹5 crores.
22.04.2025GSTR-3BJan-Mar 2025Summary return for taxpayers under the QRMP scheme in category X states.
24.04.2025GSTR-3BJan-Mar 2025Summary return for taxpayers under the QRMP scheme in category Y states.
25.04.2025ITC-04Oct 2024-Mar 2025Details of goods sent to or received from a job worker.
28.04.2025GSTR-11March 2025Statement of inward supplies for UIN holders (e.g., embassies).
30.04.2025GSTR-4FY 2024-25Annual return for composition taxpayers.

💰 Income Tax Compliance

Due DateCompliancePeriodDescription
07.04.2025Deposit of TDS/TCSMarch 2025Monthly deposit of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS).
14.04.2025Issue of TDS CertificatesFebruary 2025Issuance of TDS certificates for tax deducted under sections 194-IA, 194-IB, 194M, and 194S.
15.04.2025Form 15CCJan-Mar 2025Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers).
30.04.2025Form 24GMarch 2025Submission of Form 24G by government offices where TDS/TCS has been paid without a challan.
30.04.2025Challan-cum-statementMarch 2025Furnishing of challan-cum-statement in respect of tax deducted under sections 194-IA, 194-IB, 194M, and 194S.
30.04.2025Form 61Oct 2024-Mar 2025E-filing declaration containing particulars of Form 60 received during the period.
30.04.2025Form 15G/15HJan-Mar 2025Uploading declarations received from recipients in Form 15G/15H during the quarter.

👥 PF and ESI Compliance

Due DateCompliancePeriodDescription
15.04.2025PF PaymentMarch 2025Monthly deposit of Provident Fund contributions by employers.
15.04.2025ESI PaymentMarch 2025Monthly deposit of Employees’ State Insurance contributions by employers.

🏢 Other Statutory Compliance

Due DateCompliancePeriodDescription
05.04.2025LWF Remittance (Kerala)FY 2024-25Employers in Kerala must remit their Labour Welfare Fund contributions by this date.
09.04.2025ECB 2 ReturnMarch 2025Reporting of actual External Commercial Borrowings transactions to the Reserve Bank of India.
21.04.2025SEBI DisclosuresMarch 2025Submission of shareholding patterns and corporate governance reports by listed companies.

Annual Filing Requirements

Posted on by admin
  • Form AOC-4: Companies must file their financial statements within 30 days of the Annual General Meeting (AGM). For the financial year 2023-24, if the AGM was held on September 30, 2024, the due date for filing Form AOC-4 was October 30, 2024
  • Form MGT-7/MGT-7A: The annual return should be filed within 60 days of the AGM. For the financial year 2023-24, this means a due date of November 29, 2024

2. Director’s KYC

Form DIR-3 KYC: Directors are required to complete their KYC annually by September 30. For the year 2024, the due date was September 30, 2024. Non-compliance can lead to deactivation of the Director Identification Number (DIN).

3. Reconciliation of Share Capital Audit Report

  • Form PAS-6: Unlisted public companies must file this half-yearly report to reconcile their share capital. The deadlines are:
    • For the half-year ending March 31, 2024: May 30, 2024
    • For the half-year ending September 30, 2024: November 29, 2024

4. Return of Deposits

Form DPT-3: Companies must file this return for transactions not considered as deposits by June 30, 2024.

5. Filing Fees and Penalties

The fees for filing forms like AOC-4 and MGT-7 vary based on the company’s authorized share capital:

  • Up to ₹1,00,000: ₹200 per document.
  • ₹1,00,000 to ₹4,99,999: ₹300 per document.
  • ₹5,00,000 to ₹24,99,999: ₹400 per document.
  • ₹25,00,000 to ₹99,99,999: ₹500 per document.
  • 1,00,00,000 or more: ₹600 per document.

Delays in filing can result in additional fees and penalties. It’s crucial for companies to adhere to these deadlines to maintain compliance and avoid legal complications.

For the most accurate and up-to-date information, always refer to the official Ministry of Corporate Affairs (MCA) website or consult with a professional familiar with the latest ROC compliance requirements.

Compliance Calendar for the month of March – 2025

Posted on by admin

Here’s a comprehensive compliance calendar for March 2025, detailing key due dates for GST returns, income tax filings, PF/ESI payments, and specific compliances applicable in Kerala.

1. Goods and Services Tax (GST) Compliance:

Due DateForm/CompliancePeriodDescription
10.03.2025GSTR-7February 2025Return for Tax Deducted at Source (TDS) to be filed by the tax deductor.
10.03.2025GSTR-8February 2025Return for Tax Collected at Source (TCS) to be filed by e-commerce operators.
11.03.2025GSTR-1February 2025Statement of outward supplies for taxpayers with turnover > ₹1.5 crores or those opting for monthly returns.
13.03.2025GSTR-1 (IFF)February 2025Invoice Furnishing Facility for taxpayers under the QRMP scheme (optional).
13.03.2025GSTR-6February 2025Return for Input Service Distributors (ISD).
20.03.2025GSTR-3BFebruary 2025Summary return for taxpayers with annual turnover up to or exceeding ₹5 crores.
20.03.2025GSTR-5 & 5AFebruary 2025Return for non-resident taxable persons and OIDAR service providers.
25.03.2025GST PMT-06February 2025Payment of GST for taxpayers under the QRMP scheme.
31.03.2025GST RFD-11FY 2025-26Letter of Undertaking (LUT) filing for exporters for the upcoming financial year.

Note: Adherence to these deadlines ensures compliance and avoids potential penalties.

2. Income Tax Compliance:

Due DateCompliancePeriodDescription
07.03.2025Deposit of TDS/TCSFebruary 2025Monthly deposit of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS).
15.03.2025Advance Tax PaymentAY 2025-26Payment of the fourth installment of advance tax for the Assessment Year 2025-26.
31.03.2025Filing of Updated ReturnsAY 2022-23Last date to file updated income tax returns for correcting errors or omissions in original filings.

3. Provident Fund (PF) and Employees’ State Insurance (ESI) Compliance:

Due DateCompliancePeriodDescription
15.03.2025PF PaymentFebruary 2025Monthly deposit of Provident Fund contributions by employers.
15.03.2025ESI PaymentFebruary 2025Monthly deposit of Employees’ State Insurance contributions by employers.

Note: Ensure timely submission to the respective authorities to maintain compliance.

Adhering to this compliance calendar will help in timely fulfillment of statutory obligations, thereby avoiding penalties and ensuring smooth business operations.

Budget 2025 TDS For Partnership Firm

Posted on by admin

The Union Budget 2025 has introduced specific changes to the Tax Deducted at Source (TDS) provisions affecting partnership firms.

Key Changes:

  1. Introduction of TDS on Payments to Partners:
    • Effective from April 1, 2025, partnership firms are required to deduct TDS on certain payments made to their partners. This measure aims to ensure proper tax compliance and reporting of income received by partners from the firm.
  2. Surcharge on Income Tax for Firms:
    • For partnership firms with a total income exceeding INR 1 crore, the income tax computed will be subject to a surcharge of 12%. This surcharge is applicable to the amount of income tax calculated on the firm’s total income.

FORM MGT -7

Posted on by admin

Form MGT-7 is an annual return that companies registered in India must file with the Registrar of Companies (ROC) under the Companies Act, 2013. It contains key details about the company’s structure, management, shareholding, and compliance status.

Applicability

  • Mandatory for: Every company, except One Person Company (OPC) and Small Companies, which file Form MGT-7A instead.

.Due Date:

  • Within 60 days from the conclusion of the Annual General Meeting (AGM).
  • For most companies, this means the due date is December 29 (if the AGM was held on September 30).

Key Information in Form MGT-7

  • Company Details – Name, CIN, Registered Office, etc.
  • Principal Business Activities – Revenue-wise classification.
  • Shareholding Pattern – Details of promoters, public shareholding, changes during the year.
  • Directors & Key Managerial Personnel (KMPs) – Their appointments, resignations, and changes.
  • Meetings of Members & Board – Number and dates of meetings held.
  • Remuneration Details – Directors, KMPs, and top employees.
  • Penalties & Compounding of Offences – If applicable.

Filing Fees (Based on Company’s Authorized Share Capital)

  • Up to ₹1,00,000 – ₹200
  • ₹1,00,000 to ₹4,99,999 – ₹300
  • ₹5,00,000 to ₹24,99,999 – ₹400
  • ₹25,00,000 to ₹99,99,999 – ₹500
  • ₹1 crore and above – ₹600

Late Filing Penalty

  • ₹100 per day of delay, with no maximum limit.

Filing Process

  1. Prepare the MGT-7 form with all necessary details.
  2. Get it digitally signed by a Director/Company Secretary.
  3. File it on the MCA portal along with the applicable fees.