Income Tax Compliance Applicable to Company 

TDS Return for Q1: - Every Deductor who Deducted TDS in Q1 shall require to file TDS return in Form 24Q for TDS deducted on Salary and in Form 26Q for TDS deducted on other than Salary and in Form 27Q for TDS Deducted on Payments Made to Non Resident for Q1 should be filed before 31st July.

TDS Return for Q2: - Every Deductor who Deducted TDS in Q2 shall require to file TDS return in Form 24Q for TDS deducted on Salary and in Form 26Q for TDS deducted on other than Salary and in Form 27Q for TDS Deducted on Payments Made to Non Resident for Q2 should be filed before 31st October.

TDS Return for Q3: - Every Deductor who Deducted TDS in Q3 shall require to file TDS return in Form 24Q for TDS deducted on Salary and in Form 26Q for TDS deducted on other than Salary and in Form 27Q for TDS Deducted on Payments Made to Non Resident for Q3 should be filed before 31st January. 

TDS Return for Q4: - Every Deductor who Deducted TDS in Q4 shall require to file TDS return in Form 24Q for TDS deducted on Salary and in Form 26Q for TDS deducted on other than Salary and in Form 27Q for TDS Deducted on Payments Made to Non Resident for Q4 should be filed before 31st May.

Liability to Deposit TDS:- TDS should be deposited on before 7th of next month except TDS of March Month should be Deposited on before 30th April.

Statement of Financial Transactions and Reportable Accounts (SFTRA) should be filed before 31st May of Succeeding Financial Year.

First Installment of Advance Tax: - Every Assessee except Assessee who are eligible declare their Income under sec 44AD of Income Tax Act liable to Deposit not less than 15% of Tax Liability on estimated Income of Asseessee on or before 15 June of Financial Year.

Second Installment of Advance Tax: - Every Assessee except Assessee who are eligible declare their Income under sec 44AD of Income Tax Act liable to Deposit not less than 45% of Tax Liability on estimated Income of Asseessee on or before 15 September of Financial Year.

Third Installment of Advance Tax: - Every Assessee except Assessee who are eligible declare their Income under sec 44AD of Income Tax Act liable to Deposit not less than 75% of Tax Liability on estimated Income of Asseessee on or before 15 December of Financial Year.

Fourth Installment of Advance Tax: - Every Assessee except Assessee who are eligible declare their Income under sec 44AD of Income Tax Act liable to Deposit 100% of Tax Liability on estimated Income of Asseessee on or before 15 March of Financial Year.

Income Tax Return: -

·         Every Assessee who are not liable to get their books of accounts audited under sec 44AB of Income Tax Act from a Chartered Accountant in Practice and not liable furnish report under sec 92E of Income Tax Act required to furnish their Income Tax Return on or before 31th July 2018. If Assessee has Self Assessment Tax liability than assessee required to Pay Self Assessment Tax before filing Income Tax Return.

·         Every assessee (other than those who are liable to furnish report under sec 92E of Income Tax Act) who are liable to get their books of accounts audited under sec 44AB of Income Tax Act from a Chartered Accountant in Practice liable to get their Books of Accounts Audited from Chartered Accountant in Practice and file their Income Tax Return on or before 30th September. If Assessee has Self Assessment Tax liability than assessee required to Pay Self Assessment Tax before filing Income Tax Return.  

·         Every Assessee who are liable to furnish report under sec 92E of Income Tax Act required to file their Income Tax Return along with Report under sec 92E of Income Tax Act. If Assessee has Self Assessment Tax liability than assessee required to Pay Self Assessment Tax before filing Income Tax Return.

 

Goods and Sales Tax Compliance Applicable to Company

 

GSTR 1: - GSTR 1 is monthly or Quarterly (Based on turnover) Return for all supplies made by a regular tax payer.

·         Registered person having turnover more than Rs. 150 lakhs or Rs. 1.5 crore required to file monthly GSTR 1 on or before 10th of Succeeding Month.

·         Registered person having turnover up to Rs. 150 lakhs or Rs. 1.5 core required to file quarterly GSTR 1 on or before 10th of Succeeding Quarter.

GSTR 3B:- GSTR 3B is a simple monthly return to be filed by every registered person under GST.

Every registered person is required to file GSTR 3B monthly irrespective of turn-over on or before 20th of Succeeding Month.

GSTR 4:- GSTR 4 is a quarterly return for those who are registered under composition scheme. Composition Dealer has only one quarterly Return i.e. GSTR 4. Due for GSTR 4 is 18th of succeeding moth of Quarter.  

GSTR 5:- Non-resident Taxable person who are not having permanent establishment of business in India required to file GSTR 5.

Non –Resident Taxable Person Required to File GSTR 5 on or before 20th of Succeeding Month.

GSTR 6: - GSTR 6 is a monthly return to be filed by Input Service Distributor.

Input Service Distributer is required to file GSTR 6 on or before 13th of Succeeding Month.

GSTR 7: - Every registered person who required to deduct Tax at Source is required to file GSTR 7 on or before 10th of succeeding month. 

GSTR 8: - E – commerce operator required to file GSTR 8 monthly in which E –Commerce operator required to provide details of Tax Collected at source (TCS).

E-Commerce Operator is required to file GSTR 8 on or before 10th of succeeding Month.

GSTR 9: - GSTR 9 is Annual Return to be filed by every regular registered tax payers.

Every registered person is required to file GSTR 9 on or before 31st December of Succeeding Financial Year.

 

GSTR 10: - GSTR 10 is a final Return which is to be filed to by Tax Payer whose registration is cancelled or surrendered.

Tax Payer whose registration is cancelled or surrendered is required to be file GSTR 10 within 3 months of Cancellation or Surrender of GST Registration.