Service Overview & Who Needs It
The end of the financial year is a critical period for businesses, requiring meticulous consolidation and filing of financial data with multiple government bodies. Missing deadlines or submitting inaccurate data can result in hefty penalties and scrutiny notices. Our Final Compliance & Tax Filing service ensures your business remains 100% compliant, handling statutory audits, corporate ITR filing, ROC submissions, and GST Annual Returns seamlessly.
This service is essential for:
- Private Limited Companies
- LLPs
- Partnerships
- Businesses with GST registration
Step-by-Step Execution Plan
Step 1: Document Collection & Initial Assessment
We begin by gathering all necessary documents, including:
- Bank statements for the financial year
- Purchase/sales invoices
- Expense vouchers
- Monthly GST returns
- TDS challans
- Payroll sheets
- Asset purchase details
Our team conducts an initial assessment to identify potential discrepancies and missing data.
Step 2: Statutory & Tax Audits
Our certified Chartered Accountants conduct detailed audits under the Companies Act, 2013, and the Income Tax Act, 1961. This ensures financial transparency and compliance with legal requirements.
Step 3: Corporate ITR Filing
We prepare and file accurate Income Tax Returns for your business entity, ensuring timely submission to avoid late fees and penalties.
Step 4: ROC Form Filing
We handle the filing of:
- Form AOC-4 (audited financial statements)
- Form MGT-7/7A (annual return)
These forms are crucial for maintaining compliance with the Registrar of Companies (ROC).
Step 5: GST Annual Return (GSTR-9)
We consolidate your monthly GST data, identify mismatches, and file the mandatory GSTR-9 to ensure compliance with GST regulations.
Step 6: Directors' Report Drafting
Our experts draft the mandatory Directors' Report, summarizing your company's financial performance and future outlook.
Step 7: TDS Returns & Reconciliation
We file final quarter TDS/TCS returns and generate Form 16/16A for employees and vendors, ensuring complete year-end closure.
Key Considerations & Best Practices
- Early Initiation: Start the process early to avoid last-minute rush and errors.
- Data Accuracy: Ensure all financial data is accurate and matches across ITR, GST, and ROC filings.
- Compliance Deadlines: Adhere to filing deadlines to avoid penalties and scrutiny notices.
- Professional Assistance: Engage certified professionals for complex filings to ensure legal validity.
Frequently Asked Questions
What is the difference between monthly and final compliances?
Monthly compliances include ongoing filings like GSTR-1 and TDS payments. Final compliances involve year-end audits, ITR filing, ROC forms, and GST Annual Return.
Is a statutory audit mandatory for loss-making companies?
Yes, statutory audits are mandatory for Private Limited Companies regardless of profit or loss.
What are the consequences of delaying ROC filings?
Delaying ROC filings results in a penalty of ₹100 per day per form and can lead to director disqualification.
Consultation Call-To-Action
Ensure a seamless financial year-end with our expert Final Compliance & Tax Filing services. Contact us today to schedule a consultation and stay compliant without the stress.
