Find answers to the most common questions about GST, Income Tax, Audit, Company Registration, and our CA services.
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📊 GST Questions
What documents are required for GST registration?+
For GST registration, you need: PAN card of the business/owner, Aadhaar card, proof of business address (electricity bill/rent agreement/NOC), bank account details (cancelled cheque or bank statement), and passport-size photographs. For companies, additional documents include Certificate of Incorporation, MOA/AOA, and board resolution. For LLPs, the LLP agreement is required. The process is completely online through the GST portal and typically takes 3-7 working days after document submission.
When is GST registration mandatory? What is the turnover limit?+
GST registration is mandatory when your aggregate annual turnover exceeds ₹40 lakhs for goods suppliers (₹20 lakhs for special category states) and ₹20 lakhs for service providers (₹10 lakhs for special category states). Additionally, registration is mandatory regardless of turnover for: inter-state suppliers, e-commerce operators, casual taxable persons, non-resident taxable persons, and those required to pay tax under reverse charge mechanism.
What is the difference between GSTR-1 and GSTR-3B?+
GSTR-1 is the outward supply return where you report all sales/invoices issued during the month. It is filed by the 11th of the following month (monthly filers) or quarterly. GSTR-3B is a summary return where you declare your total sales, purchases, ITC claimed, and pay the net GST liability. GSTR-3B is filed by the 20th of the following month. Both returns must be filed — GSTR-1 provides invoice-level details while GSTR-3B is used for actual tax payment.
How can I claim Input Tax Credit (ITC) under GST?+
To claim ITC, you must: (1) Possess a valid tax invoice or debit note, (2) Receive the goods or services, (3) The supplier must have filed their GSTR-1 and the invoice must appear in your GSTR-2B, (4) Pay the invoice value including GST to the supplier within 180 days, (5) File your GSTR-3B. ITC cannot be claimed on personal expenses, motor vehicles (with exceptions), food & beverages, club memberships, and goods/services used for exempt supplies.
Is GSTR-9 annual return mandatory for all GST taxpayers?+
GSTR-9 (Annual Return) is mandatory for all regular GST taxpayers with annual turnover above ₹2 crore. Taxpayers with turnover up to ₹2 crore have the option to file or skip it. GSTR-9C (Reconciliation Statement) is mandatory for taxpayers with turnover above ₹5 crore and must be certified by a Chartered Accountant. The due date for GSTR-9 is December 31st of the following financial year.
What happens if I don't file GST returns on time?+
Late filing of GST returns attracts a late fee of ₹50 per day (₹25 CGST + ₹25 SGST) for returns with tax liability, and ₹20 per day (₹10 CGST + ₹10 SGST) for nil returns. The maximum late fee is capped at ₹10,000 per return. Additionally, interest at 18% per annum is charged on the outstanding tax liability from the due date. Consistent non-filing can lead to GST registration cancellation and legal proceedings.
Who can opt for the GST Composition Scheme?+
The GST Composition Scheme is available for businesses with annual turnover up to ₹1.5 crore (₹75 lakhs for special category states). Under this scheme, manufacturers pay 1% tax, traders pay 1%, and restaurants pay 5% on turnover. Service providers (except restaurants) can opt for a special composition scheme up to ₹50 lakhs at 6%. Composition dealers cannot collect GST from customers, cannot claim ITC, and cannot make inter-state supplies.
How can I cancel my GST registration?+
You can apply for GST cancellation if your turnover falls below the threshold limit, you've discontinued business, or changed your business structure. Apply through the GST portal (REG-16 form). Before cancellation, you must file all pending returns and pay all outstanding dues. After cancellation, you must file a final return (GSTR-10) within 3 months. The tax officer may also cancel registration if returns are not filed for 6 consecutive months.
📝 Income Tax Questions
What is the last date for filing Income Tax Return (ITR)?+
The ITR filing deadlines for FY 2025-26 (AY 2026-27) are: July 31, 2026 for individuals, HUFs, and non-audit cases; October 31, 2026 for businesses requiring tax audit under Section 44AB; November 30, 2026 for transfer pricing cases. Filing after the due date attracts a late fee of ₹1,000 (income up to ₹5 lakhs) or ₹5,000 (income above ₹5 lakhs) under Section 234F. We strongly recommend filing before the deadline to avoid penalties.
Which is better — New Tax Regime or Old Tax Regime?+
The new tax regime (default from FY 2023-24) offers lower tax rates but no deductions. The old regime allows deductions under 80C, 80D, HRA, LTA, etc. Generally: New regime is better if your deductions are less than ₹3.75 lakhs (for income up to ₹15 lakhs). Old regime is better if you have significant investments in 80C (₹1.5L), health insurance (80D), home loan interest, and HRA. We recommend a detailed calculation based on your specific income and investments — contact us for a free analysis.
Which ITR form should I file?+
ITR form selection depends on your income type: ITR-1 (Sahaj) — Salaried individuals with income up to ₹50 lakhs; ITR-2 — Individuals with capital gains, foreign income, or multiple house properties; ITR-3 — Individuals with business/professional income; ITR-4 (Sugam) — Presumptive income under 44AD/44ADA/44AE; ITR-5 — Firms, LLPs, AOPs; ITR-6 — Companies; ITR-7 — Trusts, political parties, research institutions. Filing the wrong ITR form can lead to defective return notice.
Who needs to pay Advance Tax and when?+
Advance tax is payable if your estimated tax liability for the year exceeds ₹10,000. Payment schedule: 15% by June 15, 45% by September 15, 75% by December 15, and 100% by March 15. Senior citizens (60+) without business income are exempt. Failure to pay advance tax attracts interest under Section 234B (1% per month on shortfall) and Section 234C (1% per month for each installment shortfall). Salaried employees whose TDS covers their full liability need not pay advance tax.
I received an Income Tax notice. What should I do?+
Don't panic — most IT notices are routine. First, identify the type: Section 143(1) is an intimation (not a notice), Section 139(9) is for defective return, Section 148 is for reassessment, Section 156 is a demand notice. Read the notice carefully, note the response deadline, and gather required documents. Never ignore a notice — non-response leads to ex-parte assessment and penalties. Contact us immediately — we handle all types of IT notices and represent you before tax authorities.
How is Capital Gains Tax calculated on property and shares?+
For property: Short-term capital gains (held ≤2 years) are taxed at slab rates. Long-term capital gains (held >2 years) are taxed at 20% with indexation benefit. For listed shares/equity mutual funds: Short-term (held ≤1 year) taxed at 20% (increased from 15% in Budget 2024). Long-term (held >1 year) gains above ₹1.25 lakh taxed at 12.5% without indexation. Capital gains can be saved by investing in Section 54 (new property), Section 54EC (bonds), or Section 54F (residential property).
Do NRIs need to file Income Tax Return in India?+
NRIs must file ITR in India if their Indian income exceeds the basic exemption limit (₹2.5 lakhs for below 60 years). Indian income includes: rental income from Indian property, capital gains from Indian assets, interest from NRO accounts, dividends from Indian companies, and salary for services rendered in India. NRI income from NRE accounts is tax-free. NRIs can claim DTAA (Double Taxation Avoidance Agreement) benefits to avoid being taxed twice on the same income.
🔍 Audit Questions
When is Tax Audit mandatory under Section 44AB?+
Tax audit under Section 44AB is mandatory for: Businesses with turnover exceeding ₹1 crore (₹10 crore if cash transactions are less than 5% of total transactions); Professionals with gross receipts exceeding ₹50 lakhs; Businesses opting out of presumptive taxation under 44AD/44ADA; Businesses declaring profit below the presumptive rate under 44AD/44ADA with income above the basic exemption limit. The tax audit report (Form 3CA/3CB with 3CD) must be filed by October 31st.
Is Statutory Audit mandatory for all companies?+
Yes, statutory audit under the Companies Act 2013 is mandatory for ALL companies — Private Limited, Public Limited, OPC — regardless of turnover or profit. The auditor must be a Chartered Accountant appointed at the AGM. The audit report is filed with the ROC as part of the annual compliance. For small companies (turnover up to ₹2 crore, paid-up capital up to ₹4 crore), certain relaxations apply but the audit requirement remains.
What is the purpose of Internal Audit and who needs it?+
Internal audit evaluates the effectiveness of internal controls, risk management, and governance processes. It is mandatory for: Listed companies, unlisted public companies with paid-up capital ≥₹50 crore or turnover ≥₹200 crore, and private companies with turnover ≥₹200 crore or outstanding loans ≥₹100 crore. Even for non-mandatory cases, internal audit helps detect fraud, improve efficiency, ensure compliance, and provide management with independent assurance on business operations.
What is GST Audit (GSTR-9C) and when is it required?+
GSTR-9C is a reconciliation statement that compares the figures in your GST returns (GSTR-9) with your audited financial statements. It is mandatory for taxpayers with annual aggregate turnover exceeding ₹5 crore. The reconciliation covers turnover, tax paid, ITC claimed, and any differences between books and GST returns. It must be certified by a Chartered Accountant or Cost Accountant and filed along with GSTR-9 by December 31st of the following year.
🏢 Company Registration Questions
How long does Private Limited Company registration take?+
Private Limited Company registration typically takes 10-15 working days, subject to MCA processing time. The process involves: Day 1-2: DIN and DSC application; Day 3-5: Name approval (RUN form); Day 6-10: Filing of SPICe+ form with MOA, AOA, and other documents; Day 11-15: Certificate of Incorporation issued by MCA. We handle the entire process end-to-end. Required documents: PAN, Aadhaar, address proof, and passport-size photos of all directors; registered office address proof.
What is the difference between Pvt Ltd and LLP? Which is better?+
Private Limited Company: Separate legal entity, limited liability, can raise equity funding, more compliance requirements, taxed at 22% (domestic companies). LLP: Separate legal entity, limited liability, partners taxed at individual rates (30% for income above ₹10L), lower compliance burden, cannot issue shares. Choose Pvt Ltd if you plan to raise VC/angel funding, have multiple investors, or want to scale significantly. Choose LLP for professional services, small businesses, or when you want lower compliance costs. We recommend a consultation to determine the best structure for your specific situation.
What are the annual compliance requirements for a Private Limited Company?+
Annual compliance for Pvt Ltd includes: Statutory Audit (mandatory), Filing of Financial Statements (AOC-4) with ROC by October 29th, Annual Return (MGT-7) by November 28th, Income Tax Return by October 31st (audit cases), GST Returns (monthly/quarterly), TDS Returns (quarterly), Board Meetings (minimum 4 per year), AGM (within 6 months of financial year end), and Director KYC (DIR-3 KYC) annually. Non-compliance attracts heavy penalties and can lead to company strike-off.
What is the minimum capital required to register a company?+
There is NO minimum paid-up capital requirement for Private Limited Companies or LLPs in India since the Companies Act 2013 amendment. You can register a company with even ₹1 as paid-up capital. However, the authorized capital (on which stamp duty is paid) is typically kept at ₹1 lakh to ₹10 lakhs for startups. The actual capital you invest depends on your business needs. We recommend keeping authorized capital at ₹10 lakhs initially to avoid frequent increases later.
What is a One Person Company (OPC) and who should opt for it?+
OPC (One Person Company) is a company with a single member/shareholder, introduced to give solo entrepreneurs the benefits of a corporate structure with limited liability. Benefits: Limited liability protection, separate legal entity, easier to get loans, professional credibility. Limitations: Only Indian residents can form OPC, cannot convert to Section 8 company, must convert to Pvt Ltd if turnover exceeds ₹2 crore or paid-up capital exceeds ₹50 lakhs. Ideal for freelancers, consultants, and solo entrepreneurs who want corporate benefits without partners.
💼 Our Services Questions
Do you provide online CA services across India?+
Yes! We provide complete online CA services across all states in India. You can share documents via WhatsApp, email, or Google Drive. Consultations are available via video call (Google Meet/Zoom), phone, or WhatsApp. All filings are done electronically through government portals. We serve clients from Maharashtra, Delhi, Karnataka, Tamil Nadu, West Bengal, Gujarat, Rajasthan, and all other states. You don't need to visit our office — everything is handled digitally with the same quality and accuracy.
What are your professional fees for CA services?+
Our fees are transparent and competitive with no hidden charges. Indicative pricing: ITR filing from ₹499 (individual) to ₹4,999 (business); GST registration from ₹1,499; Monthly GST filing from ₹999/month; Company registration from ₹4,999; TDS returns from ₹799/quarter; Accounting from ₹1,499/month; Audit fees based on complexity. We provide a detailed written quote before starting any work. Contact us via WhatsApp or call for a customized quote based on your specific requirements.
How do I share documents with you for filing?+
Sharing documents is simple and secure: WhatsApp: Send photos/scans directly to +91 76388 42853; Email: Send to niamulkhan365@gmail.com; Google Drive: Share a folder with us; In-person: Visit our office with original documents. We maintain strict confidentiality of all client documents. All data is stored securely and never shared with third parties. We provide a document checklist specific to your service requirement so you know exactly what to send.
How long does it take to complete my filing?+
Typical turnaround times: ITR filing: 1-3 working days after receiving all documents; GST registration: 3-7 working days; Monthly GST returns: Filed by due date (we start 5 days before deadline); Company registration: 10-15 working days; TDS returns: 3-5 working days; Accounting: Ongoing monthly service. We always communicate the expected timeline upfront and keep you updated throughout the process. Urgent filings can be expedited — contact us to discuss.
How do you ensure the confidentiality of my financial data?+
We take data confidentiality very seriously. As a Chartered Accountant, we are bound by the ICAI Code of Ethics which mandates strict client confidentiality. Our practices include: Secure document storage with restricted access, encrypted communication channels, no sharing of client data with third parties without consent, signed confidentiality agreements for corporate clients, and secure deletion of documents after the retention period. Your financial information is completely safe with us.
Do you offer a free initial consultation?+
Yes! We offer a free 30-minute initial consultation to understand your requirements and provide the best solution. During this consultation, we'll assess your current compliance status, identify any issues or gaps, recommend the right services, and provide a transparent fee quote. You can book your free consultation via phone call, WhatsApp, video call, or in-person visit. There's absolutely no obligation — we want you to make an informed decision before engaging our services.
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