Income Tax

ITR for Pvt Ltd Company

A startup running as a private limited company has to follow numbers of compliance as laid down by various statutes and other regulatory bodies. These include but are not limited to the periodic filing of tax and other returns, holding the board and other meetings, maintaining statutory books and accounts etc.

Private Limited Company Features

1. GST Filing

Under the GST rule, partnership firms having GST registration need to file monthly, quarterly and annual GST returns.

2. Income Tax Filing

Income tax filing should be filed by all partnership firms. Partnership firms having more than Rs.100 lakhs of annual turnover are needed to perform tax audit.

3. TDS Filing

Quarterly TDS returns should be filed by partnership firms having TAN and are needed to deduct tax at source according to TDS rules.

4. ESI Return

ESI return needs to be filed by all partnership firms which are having ESI registration. ESI registration is necessary once the partnership firm has more than 10 employees.

Process of Registration

1. Commencement of business ( within 180 days)
2. Auditor Appointment (Within 30 days)
3. Income Tax Return
4. MCA Form AOC-4
5. MCA Form MGT-7
6. DIN eKYC
7. Hold Annual General Meeting
8. Director’s report