Statutory Compliance

Income Tax Return is the form in which assessee files information annually about his/her Income and tax thereon to Income Tax Department. It is mandatory for an organization to file return of income electronically with digital signature including an organization liable to get its accounts audited under section 44AB.

As Finance Act, 2020, has made mandatory for all 80G registered organizations to furnish an annual statement of donation received by the organizations. The organizations are required to furnish this statement electronically in Form No.10BD on an annual basis on or before the 31st May immediately following the financial year in which the donation is received.

All organizations responsible for deduction of tax at source are required to submit to the prescribed income tax authority a return(s) within a stipulated period after the end of the financial year. The relevant return form and the month by which it should be filed.

The businesses registered under GST have to file returns monthly, quarterly and annually based on the category of business through the Government of India's Portal GST Portal. Mainly GSTR-01, GSTR-03B, ITC Reconciliation, GSTR-09 etc have been filled online by any Organization.

Form 10B is to be furnished by a charitable or religious trust or institution that has been registered u/s 12A or who has submitted an application for registration by filing Form 10A. Form 10B is an audit report which is provided by a CA upon nomination by the taxpayer.

If an employer has employed more than 20 employees, he is required to make the payment within 15 days from the end of the month. However, if an employer has less than 20 employees, he is required to pay quarterly (i.e. by the 15th of next month from the end of the quarter).

Form MGT 7 & Form AOC-4 ROC returns are filed with Ministry of Corporate Affairs (MCA) with whom the company is registered. It is mandatory to file the prescribed ROC forms and other returns on annual basis.

The half-yearly return of ESIC for the period April to September is due by 12 November, and October to March is due by 12 May.

All employers who have PF registration are necessary to file returns on a monthly basis. The filing of returns has to be done by the 15th of each month through unified portal.

a. FCRA Annual Return :- Every FCRA-NGO has to submit an Annual Return to the Ministry of Home Affairs (MHA), online before 31st December for its foreign fund receipts for the previous financial year. Also if FCRA NGOs don not receives foreign contribution Filing a Nil return is mandatory

b. Intimation in Change in Name/address :- For seeking change in the name/address of the association, intimation is to be given online in Form FC-6A within 45 days.

c. Intimation in change in Board member :- For seeking change in Board members of the association, intimation is to be given online in Form FC-6 E within 45 days.

d. Intimation of opening of FCRA Utilization Account :- For opening FCRA utilization account, intimation is to be given online in form FC-6D within 45 days.