Income and expenses are accurately reported
Tax liabilities are calculated correctly
Standards Compliance
Corporate tax must be filed by businesses registered as companies, including private limited companies, public limited companies, and foreign companies operating in India. It is mandatory for these entities to report their income, profits, and tax liabilities annually, even if they’ve incurred losses or earned below the taxable threshold.
Non-compliance attracts penalties under the Income Tax Act
Ensures no misreporting of income and expenses
Reduces risk of scrutiny by tax authorities
Essential for businesses applying for loans or funding
Generally, the due date is 30th September of the assessment year.
Yes, if gross receipts exceed ₹50 lakhs in a financial year.
Form 3CA or 3CB along with Form 3CD must be filed online.
Yes, if errors are found, a revised report can be filed before the due date.
You may face penalties under Section 271B