Get clear answers to frequently asked questions about proprietorship setup, benefits, legal formalities, and compliance—so you can start your business in India with clarity and confidence.
Get your Corporate Tax Filing at just 2,499/-*
*Govt. fees and GST on actuals
You Get -
- Expert Assistance
- DSC
- Incorporation Certificate
- DIN
- PAN/TAN
- No Hidden Charges and Full Transparency
- Total Process takes 20-25 days
Corporate Tax Filing
Establishing a company and navigating the intricacies of filing returns is a vital part of running a successful business. Corporate tax filing refers to the income tax return filed by a company, serving as an official report of the company’s earnings and expenses.
Corporate tax filing in India has become more accessible with the support of India Company Setup. We help companies file their tax returns with ease, backed by expert guidance and tailored accounting solutions. Our team simplifies the filing process, ensuring you don’t miss deadlines or violate any compliance requirements. Whether your company is just launching or already established, we are here to assist.
Want to streamline your corporate tax filing? Get in touch with us today and experience hassle-free and accurate corporate tax filing!
What is a Corporate Tax Return?
A corporate tax return is an income tax return submitted by companies. It provides a detailed overview of income, expenses, and other relevant tax details presented in a prescribed format. It also involves reporting of Tax Deducted at Source (TDS), which is mandatory annually.
This return functions as a financial document that records the company’s revenue, along with details such as fixed assets, debts, loans issued and received, and dealings with creditors and debtors. Timely submission of the corporate tax return is essential for compliance.
According to Section 2(62) of the Companies Act, 2013, an OPC can be formed with just one member and one director—who may be the same person. Essentially, OPC registration gives a solo entrepreneur the ability to start a limited liability company in India. Below is a detailed explanation of the eligibility and steps involved.
Corporate Tax Filing in India
All Indian companies are required to file corporate tax returns if their Gross Total Income (GTI) exceeds ₹3 lakhs. These filings must be completed annually, adhering to the prescribed deadlines. Different types of ITR forms are applicable depending on the entity structure and income. Choosing the right form and ensuring timely submission to the Income Tax Department is crucial for legal compliance.
Benefits of Filing Corporate Tax Returns:
• Refund Claims: Timely and precise filings can result in refunds, improving company cash flow.
• Carry-forward of Losses: Business losses can be offset against future profits to reduce tax liability.
• Loan Eligibility: Filed returns validate financial health, making it easier to secure credit or loans.
• Transaction Evidence: Filed returns serve as documented proof of business transactions.
• Legal Compliance: Helps avoid penalties and ensures adherence to tax laws.
• Financial Transparency: Enhances the company’s credibility with stakeholders.
• Audit Preparedness: Establishes a solid base for financial audits.
• Informed Decision Making: Accurate financial data supports growth and strategic planning.
• Reduced Legal Notices: Avoids scrutiny from tax authorities due to timely compliance.
• Access to Tax Benefits: Enables businesses to utilize available deductions and incentives.
Who Must File a Corporate Tax Return?
All eligible entities operating under Indian tax regulations must file corporate tax returns. This includes:
Types of Corporate Tax Filing
The category of tax return to be filed depends on the type of company or entity. Guidelines differ based on the corporate structure:
1. Proprietorship Tax Filing
2. Partnership Firm Tax Filing
3. LLP Tax Filing
4. Company Tax Filing
Proprietorship Tax Filing
An individual earning business income is considered a proprietorship. Proprietors must file income tax returns annually. Since a proprietorship is not a separate legal entity, its filing follows the same procedure as individual returns.
Filing Thresholds:
• Below 60 years: Total income > ₹2.5 lakhs
• 60–80 years: Total income > ₹3 lakhs
• Above 80 years: Total income > ₹5 lakhs
Tax Rate: Proprietors are taxed based on individual slab rates.
Tax Audit Requirement: Sales over ₹1 crore or professional receipts above ₹50 lakhs mandate an audit.
Due Dates:
• Without audit: July 31
• With audit: September 30
Applicable Forms: ITR-3 or ITR-4 (Sugam)
Partnership Firm Tax Filing
All partnership firms must file returns, regardless of income or activity. They are treated as separate legal entities.
Tax Rate: 30% plus 12% surcharge (if income > ₹1 crore), and 4% health & education cess
Minimum Alternate Tax: 18.5% of adjusted income
Audit Requirement:
Sales > ₹1 crore
Professional receipts > ₹50 lakhs
Due Dates:
• Without audit: July 31
• With audit: September 30
Applicable Form: ITR-5
LLP Tax Filing
LLPs must file returns annually, even in case of no income or activity.
Tax Rate: 30% plus surcharge (12% if income > ₹1 crore) and 4% cess
Minimum Alternate Tax: 18.5% of adjusted income
Audit Requirement:
Turnover > ₹40 lakhs
Contribution > ₹25 lakhs
International/specified domestic transactions require Form 3CEB
Due Dates:
• General deadline: July 31
• With audit: September 30
Form 3CEB cases: November 30
Applicable Form: ITR-5
Company Tax Filing
All companies registered under Indian law must file tax returns annually, including dormant ones.
Tax Rate: (AY 2024–25):
Turnover < ₹400 crores (FY 2020–21): 25%
Turnover > ₹400 crores: 30%
Surcharge: 7%
Cess: 4%
Minimum Alternate Tax: 15% of book profit plus applicable surcharge and cess
Audit Requirement: All companies must undergo an audit annually
Due Date: September 30 (even for newly incorporated companies from January to March)
Applicable Form: ITR-6
Key Considerations for Corporate Tax Filing:
Total Income Assessment: Return filing is required if gross income exceeds the basic threshold before deductions.
Uniform Tax Rates: LLPs, firms, and companies face a standard tax rate of 30% and must file returns regardless
of activity or profit.
Compliance & Documentation: Maintain clear records and adhere to deadlines to avoid penalties.
How India Company Setup Can Assist with Corporate Tax Filing
Managing corporate tax filings is easier with India Company Setup. Our expert professionals guide you through every step, from identifying the correct ITR form to ensuring timely, error-free filing. We also offer a user-friendly platform for small business owners to manage their tax filings smoothly.
From deadline tracking to accurate financial documentation, we ensure your filings are compliant with the latest regulations. Whether your company is new or established, India Company Setup helps simplify and optimize the entire process, saving time and avoiding legal complications.
Ready to simplify your corporate tax filings?
Connect with India Company Setup today for a stress-free experience.
What We Offer
At India Company Setup, we deliver a complete suite of business services to help you start, grow, and manage your company with ease. From registration to regulatory compliance, our expert support ensures your business stays legally sound and financially organized.
Daily & Monthly Bookkeeping
- Record all financial transactions.
- Maintain audit-ready books in sync with GST and Income Tax laws
- Stay prepared for MCA and statutory filings
Financial Reporting
- Preparation of Profit & Loss Statements and Balance Sheets
- Generate detailed balance sheets.
- Deliver cash flow statements.
Reconciliation Services
- Bank and credit card reconciliations.
- Ensure accuracy of all financial data.
- Maintain accuracy for timely Income Tax and MCA submissions
Secure Digital Bookkeeping
- Utilize encrypted software for data security.
- Anytime, anywhere access to your business data
- Aligned with India's data protection and compliance standards
Benefits of Our Bookkeeping Services
1. Accurate Financial Records
Our expert bookkeeping ensures every transaction is correctly recorded, reducing compliance errors and giving you a clear picture of your company’s financial health — crucial for GST, Income Tax, and MCA filings.
2. Time-Saving
Focus on growing your business while we manage your books. By outsourcing to us, you eliminate the burden of paperwork, reconciliations, and regulatory upkeep — saving you both time and effort.
3. Better Cash Flow Management
We help you monitor income and expenses in real time, so you maintain a healthy cash position, make informed decisions, and avoid last-minute cash crunches or missed tax deadlines.
Corporate tax filing is the process through which companies registered in India report their income, expenses, and tax liabilities to the Income Tax Department annually. It is done using Income Tax Return (ITR) forms, mainly ITR-6 for most companies.
Every company, whether:
Private limited or public limited,
Domestic or foreign,
is required to file an income tax return, regardless of whether it has made a profit or not during the financial year.
Without audit: 31st July of the assessment year
With audit: 31st October of the assessment year
With international transactions (Transfer Pricing): 30th November of the assessment year
Key documents include:
PAN card of the company
Financial statements (P&L, Balance Sheet)
Tax audit report (if applicable)
TDS certificates and challans
Details of investments, depreciation, loans, etc.
Form 26AS and AIS for tax credit matching
Consequences of late or non-filing include:
Late filing fee under Section 234F (up to ₹10,000)
Interest and penalties on tax due
Loss of carry-forward benefit of business losses
Prosecution in severe cases
FAQ
Get Answers to Common Financial Queries
Call Us
9915731447
Mail Us
info@indiacompanysetup.com
Why Choose Us ?
At India Company Setup, we simplify the process of starting your proprietorship. Our expert team ensures hassle-free registration, timely support, and personalized guidance to help you launch with confidence.
Expert Financial Guidance
Customized Solutions
Honest Communication
Dedicated Client Support
0
+
Successful Clients
