Filing Returns for Business in India

As soon as a business is formed, it becomes a juristic person. It has its own name and property. It is a separate legal entity distinct from its members who incorporate it. On incorporation, a Company is required to the file return by Income and/or License with appropriate government agencies. Non filing or late filing of documents attracts penal provisions.

Some of the common tax returns to be filed by a business and their detailed explanation are given below. Click on the name of the License below for detailed description.

Amount: Rs. 20,000

eLagaan now brings the convenience of filing annual returns from the comfort of your office. It is mandatory to file income tax returns and RoC returns annually.

For Private Limited Companies
Applicable return - ITR6, RoC Returns (Form20B, 23AC, 23ACA)
No travel no hassle. All details can be shared online.
Handled only by highly qualified and trained experts
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End to end solution (incldes preparation and filing of returns)

Due Dates:

1. Income Tax returns - 30-Sep

2. RoC Returns - 30-Oct

Amount: Rs. 10,000

eLagaan now brings the convenience of filing annual returns from the comfort of your office. It is mandatory to file income tax returns and RoC returns annually.

For Limited Liability Partnership Businesses
Applicable return - Form11, ITR5, Form 8
No travel no hassle. All details can be shared online.
Handled only by highly qualified and trained experts
Complete peace of mind
End to end solution (incldes preparation and filing of returns)

Due Dates:

1. Form 11(Annual return of LLP) - 30-May

2. Income Tax returns - 31-Jul for no audit cases, 30-Sep for audit cases

3. Form 8 (Statement of Account & Solvency) - 30-Oct

Delay in filing LLP returns shall lead to penalty of Rs.100 per day per return

eLagaan, the leader in income tax returns in India, now brings the convenience of filing tax returns from the comfort of your office. It is mandatory to file income tax returns annually.

For General Partnership Businesses
Applicable return - ITR5
No travel no hassle. All details can be shared online.
Handled only by highly qualified and trained experts
Complete peace of mind
End to end solution (incldes preparation and filing of returns)

Due Dates:

1. For businesses requiring mandatory audit of accounts - 30-Sep

2. For businesses not covered above - 31-Jul

Amount: Rs. 7,500

eLagaan, the leader in income tax returns in India, now brings the convenience of filing tax returns from the comfort of your office. It is mandatory to file income tax returns annually, if you have a taxable income.

For business owners who runs their business as Sole Proprietorship
Applicable return - ITR4
No travel no hassle. All details can be shared online.
Handled only by highly qualified and trained experts
Complete peace of mind
End to end solution (incldes preparation and filing of returns)

Due Dates:

1. For businesses requiring mandatory audit of accounts - 30-Sep

2. For businesses not covered above - 31-Jul

Amount: Rs. 2,000

Quickest way to get started
Covers all basic aspects of payroll
Upgradable as you grow
Best suited for bootstrapped companies

Amount: Rs. 15,000

FEMA laws needs to be complied for infusing foreign investments from NRIs and Foreigners. Reserve Bank of India has 2 broad categories for foreign Direct Investments:

Automatic approval of investments upto specified limits
Prior approval needed before investments

Sectors like Information Technology, Advertising, Hotels etc. fall under Automatic route. Although automatic route allows to get the NRI or foreign investment without any approval, RBI should be intimated after receipts of funds in India. This is also important for investors to repatriate their money (repatriation means facility to take their investments outside India in foreign exchange).

In case of fresh infusion of foreign funds into the company, intimation about the same is filed with RBI in form of FC-GPR and in case of sale of shares by an individual, FC-TRS is filed with RBI.

Amount: Rs. 1,500

Why is it necessary to file a VAT returns?

VAT returns provides details of VAT & CST collected during a period and input credit claimed. It also captures the export transactions, transactions with un-registered dealers etc. This helps Government to cross check the details and assess the tax collections accurately.

VAT rules mandates filing a NIL return in case registered companies have not transacted any business during a particular period. Delay in filing NIL returns also attract penalty and interests as applicable.

What is the frequency of filing VAT returns?

The due dates vary from State to State and is generally between 5-25days of end of the month.

Amount: Rs. 15,000

Why is it necessary to file ESI returns?

ESI returns allows the ESIC to monitor payments of dues and ensure compliances.

What is the frequency of filing ESI returns?

ESI returns are filed half yearly within 42 days of end of the half-year. Payments of ESI contributions are monthly within 21 days of end of month.

Amount: Rs. 5,000

Why is it necessary to file Shops & Establishment returns?

This helps the Government monitor compliances related to Shops & Establishment Act and thus ensure better governance and achieve objectives efficiently.

What is the frequency of filing S&E returns?

Generally these returns are filed on annual basis within 20 days of end of the year. This date and frequency varies with various State Governments.

Amount: Rs. 2,500

Why is it necessary to file Professional tax returns?

PT returns help the governing authority keep track of receipts and number of professional establishments/ persons operating within their local jurisdiction.

What is the frequency of filing PT returns?

Different states prescribe different ceilings for frequency of professional returns. Smaller entities are allowed to file and pay taxes on quarterly basis whereas medium and large entities should do this on a monthly basis. Taxes should be paid before filing the returns. Returns are due between 10-20 days after the end of the period (monthly/ quarterly) in various States.

Amount: Rs. 1,500

Why is it necessary to file Service Tax returns?

Service Tax returns provides details of service tax collected during a period and input credit claimed. It also captures the export revenues and other transactions where service tax is not applicable. This helps Government to cross check the details and assess the tax collections accurately.

Service tax rules mandates filing a NIL return in case registered companies have not transacted any business during a particular period. Delay in filing NIL returns also attract penalty and interests as applicable.

What is the frequency of filing Service Tax returns?

Service Tax returns are filed every half yearly. This should be filed within 25 days of end of the half year period (25th April and 25th October)

Amount: Rs. 1,500

Why is it necessary to file TDS returns?

Tax deposited with Income Tax department are not accounted for until a return is filed for that. TDS return contains details of the dedeductor and deductee alongwith several other details as specified. Based on this data, the tax deposited are then classifieds to respective deductee accounts and they get a credit for the same. If you have deducted any TDS and has not filed a return for the same, the deductee doesnot get a credit for the same.

What is the frequency of filing TDS returns?

TDS returns are filed quarterly within 15 days of end of a quarter. Delays in filing a return leads to interest and penalty.