Frequently Asked Questions

Even small businesses benefit from CA support for bookkeeping accuracy, timely GST/TDS compliance, and correct tax positions from the start. It's usually cheaper to get this right early than to fix penalties and notices later. We work with sole proprietors, small firms, and growing companies alike.

For most individuals and entities not requiring an audit, the ITR due date is typically 31 July of the assessment year. Businesses requiring a tax audit usually get until 31 October, and those needing a transfer pricing report until 30 November. These dates are sometimes extended by CBDT notification, so it's best to confirm the current year's deadline with us or check our Compliance Calendar.

GST registration is mandatory once your aggregate turnover crosses ₹40 lakh for goods (₹20 lakh in special category states) or ₹20 lakh for services (₹10 lakh in special category states). It's also compulsory for inter-state suppliers, e-commerce sellers, and certain other categories regardless of turnover. We can assess your specific situation and handle the registration end-to-end.

Typically: PAN and Aadhaar, Form 16 (if salaried), bank statements, Form 26AS/AIS, investment proofs (80C, 80D, etc.), home loan interest certificate if applicable, capital gains statements for any share/mutual fund/property sales, and details of any other income. Our Resources page has a downloadable checklist you can use to prepare in advance.

GSTR-1 reports your outward supplies (sales) for the period. GSTR-3B is a summary return where you pay the net tax liability. GSTR-9 is the annual return consolidating the whole financial year, and GSTR-9C is a reconciliation statement required above a specified turnover threshold, often needing professional certification.

Costs depend on authorized capital, the number of directors, and state-specific stamp duty, plus professional fees for drafting MOA/AOA, DIN, DSC and ROC filings. Government fees for a small company are often modest, but total cost varies case to case — get in touch with your specifics and we'll give you a clear, itemized quote.

Late deduction or deposit of TDS attracts interest (typically 1% per month for late deduction and 1.5% per month for late deposit), and expenses may get disallowed under Section 40(a)(ia) until you deposit the tax. Persistent defaults can also trigger penalty proceedings. If you've missed a deadline, it's best to regularize it as soon as possible — contact us and we'll help assess the exposure.

Salaried individuals without business income can choose either regime each year at the time of filing their return. If you have business or professional income, switching back to the old regime after opting for the new one is restricted — you generally get one opportunity to switch back. We can help you evaluate which regime suits your specific income and deduction profile using our Income Tax Calculator.

Private and public companies require a statutory audit under the Companies Act regardless of turnover. LLPs require an audit once turnover exceeds ₹40 lakh or contribution exceeds ₹25 lakh. Tax audit under the Income-tax Act applies at separate turnover thresholds. We can confirm exactly which audits apply to your entity.

Under current provisions, assessments can generally be reopened within 3 years from the end of the relevant assessment year, extendable up to 5 years in cases involving income escaping assessment of ₹50 lakh or more, and further in specific serious cases. Keeping clean records and timely, accurate filings is the best protection.

While we're based in Model Gram, Ludhiana and serve many local clients in person, we also work remotely with clients across Punjab and other parts of India for tax filing, GST, ROC compliance and advisory — most day-to-day communication happens over phone, email and WhatsApp, with document exchange handled digitally.