Income Tax

Every person whether (Individual/HUF/Company/LLP/Trust/Firm) are liable to pay tax on the income earned during a financial year. The tax levied on their income is known as Income Tax and is collected by Central Government. Every person shall file Income Tax Return with the Income Tax Department to intimate about the income earned by them and tax payable and paid thereon. The forms used to file return are different for different taxpayers based on criteria. Such taxpayers are also known as “Assessee” for the purpose of Income Tax

Professional Tax

Professional Tax is a tax imposed by some of the state governments in India on persons earning income from salary or practising professionals such as Chartered Accountant, Company Secretary, Lawyer, Doctor etc. and from the company, LLP, Directors and Designated Partners.

ROC Form Filing

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 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 the case of new companies, the first AGM should be held within 18 months from the date of incorporation or 9 months from the close of the financial year whichever is earlier. Companies Act 2013 mandates that your financial year should start from 1st April and end on 31st March. Usually, a company is required to file three forms with ROC: ROC Form MGT 7: which contains details of the 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 that’s 60 days from the conclusion of AGM. ROC Form AOC4: which contains details and annexure concerning the balance sheet of the company, Profit & Loss Account, Compliance Certificate, Registered Office Address, Register of Member, Shares and Debentures details, Debt details, and knowledge about the Management of the corporate. The maturity 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 maturity for ROC Form ADT 1 would be 14th October ie, within 15 days from the conclusion of AGM.

Private Limited ITR

Private Limited Company’s directors are accountable for company Profit or loss. Annual Income Tax filing pertains to each Private Limited Company registered in India irrespective of its turnover or net profit or loss. Also for an inoperative company annual tax filing is suitable. Income tax filing is self-reporting to tax officials on the company’s annual income & expense. In India tax filing for companies is an annual requirement however payment of advance tax for companies is quarterly applicable. The annual income tax filing due date for companies is 30 September every year.

Partnership ITR

Private Limited Company’s directors are accountable for company Profit or loss. Annual Income Tax filing pertains to each Private Limited Company registered in India irrespective of its turnover or net profit or loss. Also for an inoperative company annual tax filing is suitable. Income tax filing is self-reporting to tax officials on the company’s annual income & expense. In India tax filing for companies is an annual requirement however payment of advance tax for companies is quarterly applicable. The annual income tax filing due date for companies is 30 September every year.