Complianceis amongst one of the most significant task for any company incorporated in India. Irrespective of whether a business is registered as Private Limited, LLP or OPC timely compliance with statutory obligations allows easy operations, saves you from penalties and maintaining good corporate image. At GSCCA, we assist companies to stay on top of every compliance needs so that they do not miss any due date. A well-organised Compliance Calendar is the foundation of good fiscal governance and a vital aspect of business control.
Importance of a Compliance Calendar
The term `Compliance Calendar’ means a systematized time table of compliance with all the applicable laws in India including filing, registering and other regulatory requirements. Companies include ROC filings, income tax deadlines, GST dates, TDS due date audit schedules and event based compliances under the Companies Act, 2013. Failure to meet any one of these requirements can lead to monetary penalties, late fees, interest charges, or even legal proceedings. That is why businesses both small and large – startups, SMEs and growing organisations – need to have a clear, live compliance roadmap. GSCCA ensure companies never miss record keeping requirements with personalized reminders, professional filing help and full compliance management.
ROC Compliance Timelines for all the Companies to follow
It is the mandate of Ministry of Corporate Affairs (MCA) for companies to file annual returns and financial statements every year. These filings need to be made by the deadlines if you are intending on having your rights recognized in court, and for data integrity. In this case, the financials have to be submitted within 30days of the AGM by filing them in Form AOC-4. Annual return: The annual return needs to be filed within 60 days of the AGM in Form MGT-7 or MGT-7A, depending on the type of company. Good standing will keep the company in “good graces” with regulators and ensure that it remains current and compliant on MCA databases. GSCCA assists the companies in documentation, proof reading financial and statutory records compilation of ROC documents error free.
GST Compliances and Need For Monthly Filing
GST registered companies have continued regulatory obligations all year round. Monthly, quarterly and year-end GST returns make up a substantial percentage of the compliance burden. An outward supply of goods or services, the monthly return is filed in GSTR-1 and also monthly returns in GSTR-3B is need to be filed by all businesses. GST return filing like GSTR-9 and GSTR-9C (for those companies who are eligible) should be filed at the end of every financial year. (File photo) Timely compliance The updated return filing process also means timely GST compliance can save businesses the inconvenience of interest, late fees and input tax credit mismatches. GSCCA assist businesses to manage returns, reconciliation and documentation with greater ease and convenience.
TDS Deposit and Return Filing Due Dates
Enterprises that are required to deduct tax at source must meet the deadlines for monthly deposits and quarterly returns. The TDS deducted should be deposited by 7th of the succeeding month, except in case of March where the due date is extended. Quaterly TDS returns-Form 24Q, 26Q etc also have to be filed within time. TDS certificates viz Form 16 and Form 16A need to be issued on time so as to enable employees, vendors etc. to get credit in their accounts. Delay in TDS compliance may attract interest and penalty. GSCCA system is fully end to end in managing the TDS, it means computing the TDS, depositing into government’s account and filing of return/reports and generation of certificates.
Income Tax Deadlines Your Business Needs to Keep an Eye On
For companies it is absolutely neccessary to plan income tax compliances well ahead of time. The filing due date for income tax return of companies not requiring audit is thirty first October and the audit report is due on thirtieth September. Companies falling within the transfer pricing rules have further documentation obligations. Advance tax instalments are also a significant component of annual compliance planning. ‘GSCCA’ makes certain that‑all operations in connection with audits, tax computations are streamlined and timely management of statutory requirements is achieved.
Event-Based Compliances Under Companies Act
In addition to calendar or interval-driven compliances, businesses also need to comply with event driven ones that are triggered by company actions. These could be appointment/removal of directors, increase in authorised capital (share capital raised), allotment of shares, appointment/new auditors and transfer/shift of registered office from one state to another or creation/modification in the charges against company’s assets. There are precise shapes and time limits for each of these. Omitting these filings could result in corporate action delays and penalties. GSCCA supports companies every step of the way to ensure that event filings are correctly and timely filed.
3 Ways GSCCA Keeps Companies Compliant Throughout the Year
Owners of business owners sometimes find it hard to juggle several deadlines across different departments. GSCCA offers complete, end-to-end compliance management system that makes the process easy for everyone involved. From dates commitment to managing accounting documentation and filing returns, the accuracy, timeliness & complete compliance of statutory requirement is taken care by GSCCA. Our dedicated team ensures that businesses are up-to-date with law changes, new MCA updates or tax rules so they can keep compliance risks at bay. By partnering with GSCCA, organizations have an opportunity to grow their business without the headache of accounting and compliance needs.
Conclusion : A well-organized compliance calendar is what keeps your business safe
A compliance calendar, which is complied accurately and on timely basis not just a schedule; it is security blanket to participating companies in India. It safeguards businesses from fines, promotes clarity and aids businesses in establishing a good name. Through automated updates, professional support and proactive reminders, GSCCA ensures that your organization will never miss a deadline. Thanks to a well structured compliance calendar though, it can be smooth going: reducing stress and establishing disciplined financial governance for a company.