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India tax, accounting & compliance
Tax & Accounting
We support stable operations in India's complex tax environment (GST, TDS, TCS, Income Tax) through monthly, quarterly, and annual tax filings and bookkeeping. We help prevent costly penalties from missed filings and ensure accurate tax compliance.
GST
17 taxes unified
18%/yr
TDS late interest rate
₹200/day
TDS late filing penalty
Service Details
TDS (Tax Deducted at Source)
- Real estate rental: 10% TDS if annual payment exceeds 2,40,000 INR
- Consulting services: 10% TDS if annual payment exceeds 30,000 INR
- Commission: 5% TDS if annual payment exceeds 15,000 INR
- Individual contractor: 1% TDS if single payment ≥30,000 or annual ≥1,00,000 INR
- Corporate contract: 2% TDS if single payment ≥30,000 or annual ≥1,00,000 INR
- Employee salary: Deduct Income Tax divided by 12 months if annual salary ≥7,50,000 INR
- Late filing penalty: 200 INR/day + 18% annual interest on outstanding amount
- [Monthly] TDS payment by 7th of following month
- [Quarterly] TDS returns due on 7/31, 10/31, 1/31, 5/31
GST (Goods and Services Tax)
- GST unifies 17 former taxes into one system (effective July 2017)
- Four tax types: SGST, UGST, CGST, IGST — rates range from 0% to 28%
- [Monthly] GSTR-1: Report all sales by 11th of following month
- [Monthly] GSTR-3B: Auto-aggregated sales/purchase tax summary filing
- [Annual] GSTR-9: Required for annual turnover ≥2CR, due Dec 31
- [Annual] GSTR-9C: Self Declaration Form required for turnover ≥5CR
- Late filing: 50 INR/day penalty (max 10,000 INR) + 18% annual interest
- RCM (Reverse Charge Mechanism) applies for services over 30,000 INR from unregistered suppliers
Other Key Taxes
- Income Tax: Direct tax on annual income under Income Tax Act 1961
- Advance Tax: Quarterly pre-payment of corporate tax in March, June, September, December
- TCS: Collected at source by supplier from purchaser on specified goods
- ESI: Mandatory for 10+ employees. Employee 0.75%, Employer 3.25%
- PF (Provident Fund): Mandatory for 20+ employees. Employee/Employer each contribute 3.67%/8.33%
- PT (Professional Tax): Varies by state, payable by individuals earning ≥INR 25,000/month
- Custom Duty: On imports/exports — Basic Custom Duty + Social Welfare Surcharge + IGST
Accounting Services
- Monthly bookkeeping and ledger management
- Profit & Loss statement and Balance Sheet preparation
- Transfer pricing management and reporting
- Statutory audit support
- Foreign exchange accounting (FEMA compliance)
- LUT Certificate (zero-rated export declaration) support
- Tax audit response support
Key Notes
- Missing TDS filing: 200 INR/day penalty + 18% annual interest
- Missing GST filing: 50 INR/day penalty (max 10,000 INR) + 18% annual interest
- Missed GSTR-3B filing blocks next month's GSTR-1 — sequential filing is mandatory
- TCS: Suppliers with annual turnover >10CR must collect 0.1% TCS from customers with >50L annual purchases
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