General

Statutory Registers & Records Companies Act, 2013 Applicable to Private Limited Companies Important Compliance Note: Every company is required to maintain statutory registers and records prescribed under the Companies Act, 2013. Failure to maintain these records may attract heavy penalties, prosecution and disqualification consequences. A. Members & Shareholders Registers # Register Section Contents Penalty 1 Register of Members (MGT-1) Sec. 88 Member details, shares held, allotment, calls, lien and nomination. Company ₹50,000–₹3,00,000; Officer ₹50,000–₹1,00,000 2 Index of Members Sec. 88(3) Mandatory if members exceed 50. Same as Sec. 88 3 Register of Debenture Holders (MGT-2) Sec. 88 Details of debenture holders and subscriptions. Company ₹50,000–₹3,00,000 4 Foreign Register of Members Sec. 88(4) Maintained outside India where applicable. Same as Sec. 88 5 Register of Significant Beneficial Owners (SBO) Sec. 90 ...

STATUTORY COMPLIANCE CALENDAR Important Note: Due dates are based on applicable statutory provisions and are subject to amendments, notifications, circulars, and extensions issued by CBDT, GST Council, MCA, EPFO, ESIC, and other authorities. Verify due dates before filing. 1. Income Tax Act, 1961 S.No. Compliance Frequency Due Date Remarks 1 TDS Deposit (Salary & Non-Salary) Monthly 7th of following month (March: 30 April) Sec. 192–194 2 TDS Return Form 24Q (Salary) Quarterly Q1-31 Jul, Q2-31 Oct, Q3-31 Jan, Q4-31 May Salary TDS Return 3 TDS Return Form 26Q (Non-Salary) Quarterly Q1-31 Jul, Q2-31 Oct, Q3-31 Jan, Q4-31 May Non-Salary TDS Return 4 Advance Tax - 1st Instalment Annual 15 June 15% of Tax Liability 5 Advance Tax - 2nd Instalment Annual 15 September 45% Cumulative 6 Advance Tax - 3rd Instalment Annual 15 December 75% Cumulative 7 Advance Tax - 4th Instalment Annual 15 March 100% Tax Liability 8 Tax Audit Report (Form 3CA/3CD) Annual 30 Septe...

Filing Income Tax Returns: A Data-Driven Reality Accuracy is now just as vital as compliance in the age of AI. Filing an income tax return has evolved from merely reporting income into a comprehensive data-matching exercise. As tax scrutiny becomes increasingly transparent, understanding how your data is tracked is crucial. 🚨 Why Tax Scrutiny is on the Rise The Income Tax Department is transforming its assessment methodologies by leveraging technology extensively. The process is now substantially data-centric and relies far less on random selection: Tax authorities are sharpening their use of artificial intelligence, data analytics, and multi-source information gathering. Returns are routinely cross-verified against the Annual Information Statement (AIS) , Form 26AS, TDS records, capital gains statements, bank interest reports, and GST filings. The government has expanded visibility into financial transact...

*माँ और बेटे के बीच बातचीत (हिंदी अनुवाद)* बेटा: मम्मी, ताजमहल बहुत सुंदर है। हमने ही बनाया है, है ना? 🙄 माँ: नहीं, प्रिय। इसे बनाने वाले बादशाह शाहजहाँ थे। वो मुस्लिम थे। 😥 बेटा: ओह। ठीक है। तो फिर हमने कुतुब मीनार बनाई होगी, है ना🙄 माँ: नहीं, वो भी एक मुस्लिम ने बनवाई थी। उसका नाम कुतुबुद्दीन ऐबक था। 😥 बेटा: तो फिर लाल किला तो हमने ही बनाया होगा? 🙄 माँ: नहीं, वो भी मुस्लिम शासकों ने बनवाया था। 🤧 बेटा: तो फिर पुराना किला? वो तो हमने ही बनवाया होगा, है ना? 🙄 माँ: नहीं बेटा, वो भी मुस्लिमों द्वारा बनवाया गया था। 😔 बेटा: ठीक है... लेकिन चारमीनार हमने जरूर बनाया होगा, है ना? 😕 माँ: नहीं। वो भी मुस्लिम शासकों द्वारा बनवाया गया था। 😟 बेटा: मम्मी, मैंने सुना है कि भारत ने अपनी पहली मिसाइल बनाई थी। वो तो हिंदू शासकों ने बनाई होगी, है ना? 😀 माँ: नहीं। भारत में पहली मिसाइल टीपू सुल्तान ने विकसित की थी। वो भी मुस्लिम थे। 😪 बेटा: मम्मी, मैंने सुना है कि ग्रांड ट्रंक रोड भारत के सबसे पुराने और लंबे रास्तों में से एक है, लगभग 3000 किलोमीटर लंबा। वो तो हमने बनाया होगा, है ना? 😌 माँ: नही...

  Investment and Turnover limits for the classification of all MSMEs are to be enhanced to 2.5 and 2 times, respectively.   This will help MSMEs to achieve higher efficiencies of scale, technological upgradation, and better access to capital. Revision in classification criteria for MSMEs Types of Enterprises Changes in Turnover Limit Changes in Investment Limit       Micro Enterprises Rs 5 crore to Rs 10 crore Rs 1 crore to Rs 2.5 crore       Small Enterprises Rs 50 crore to Rs 100 crore Rs 10 crore to Rs 25 crore       Medium Enterprises Rs 250 crore to Rs 500 crore Rs 50 crore to Rs 125 crore       Other Initiatives announced in Budget fo...

Numerous changes are being introduced on the liabilities of Partnership Firms and LLPs that are to be effective from April 1, 2025 Starting April 1, 2025, partnership firms, including Limited Liability Partnerships (LLPs), will have to comply with two significant income tax changes brought in by the Finance (No. 2) Act, 2024. These amendments focus on increased limits for partner remuneration and the introduction of Section 194T, which mandates Tax Deducted at Source (TDS) on payments to partners. With the financial year 2024-25 coming to an end, it’s crucial for firms and their partners to understand these changes and ensure compliance. Here’s a detailed look at the two major tax reforms impacting partnership firms from the next financial year.   Increased Limits for Partner Remuneration Until FY 2024-25 (Assessment Year 2025-26), the maximum remuneration a working partner can receive is: On the first ₹3,00,000 of book profit (or in case of a loss): ₹1,50,000 or 90% of ...