Return Filings

Any institution which is a factory involved in any industry as defined in Schedule 1 and in which 20 or more individuals are working, every other institution hiring 20 or more individuals, that may be informed by the central administration, shall designate in that form. Any establishment employing even less than 20 persons can be covered voluntarily under section 1 (4) of the Employees Provident Fund and Miscellaneous Provisions Act, 1952.

The aim of the program is to set up provident funds for workers protected by the Employees ‘ Provident Funds Act, 1952. As such, the scheme is applicable to the employees of all factories and other establishments covered by the said Act except those exempted under section 17 thereof.

All employers having 20 or more employees are required to be registered with Employees Provident Fund (EPF) Corporation. Those entities having EPF Registration must then file EPF returns. EPF returns are due half-yearly. Muhamamd& Associates can help file EPF returns for your business. Our EPF experts can also help you compute EPF payments and maintain EPF regulation compliance for your business.

TDS stands for tax deducted at source. This idea has come into being in order to fulfill the daily tax inflow of the Country. In the TDS case, tax is withheld from such particular expenses and this deferred tax is eventually deposited with the Government on a regular basis.

For deducting tax, a person has to obtain TAN or Tax Deduction and Collection Number, a 10 digit alpha number. Individuals who are employers are not allowed to receive a TAN or a deductible tax at source. However, a proprietorship business(which are required to be tax audited) and other entities (i.e., Private Limited Company, LLP, etc.,) must deduct tax at source while making certain payment like salary, payments to contractor or sub-contractors, payment of rent etc.Those entities have TAN Registration must then file TDS returns. TDS returns are due quarterly.

Muhammad& Associates can help you file e file your TDS returns online. Our TDS specialists will help you determine your TDS fees and submit a TDS report to hold you in line with TDS regulations.

Using Informed to find out all about the due dates for TDS return filing deadline and TDS bill due date.

Organizations listed under the Foreign Contribution Regulation Act must hold different records under the head office of the FC and give a report in the prescribed template to the Ministry along with the audited report of records of the previous year. Any company obtaining foreign donations is expected to have a certificate from a CA. The certificate to be issued by the CA is offered in the form FC-6. In addition to this document, the audited Balance Sheet, Revenue & Expense Statement and the collection and payment account statement, together with the certification and verification approved by the Chief Functionary, will also be issued.

The return is to be submitted for each financial year (1st April to 31st March) within 9 months of the end of the year, i.e. by 31st December of each year. The filing of a ‘ 0 ‘ refund, even though no international donation is received / used throughout the year, is compulsory. The report shall be issued in the specified form FC–6 accordingly followed by the balance sheet and the revenue and expenditure statement approved by the Chartered Accountant.

Goods and Services Tax (GST) is applicable in India from 1st July 2017.

Under the new GST regime, nearly 1.4 crore businesses in India have obtained GST registration. All entities having GST registration are required to file GST returns every month.

GST return filing is mandatory for all entities having GST registration, irrespective of business activity or sales or profitability during the return filing period.

Hence, even a dormant business that obtained GST registration must file GST return.

Everybody need to file GST?

Who should file GST Return?

GST registration holders are required to file GSTR-3B return every month providing details of sales and purchases made in a month to the Government. GSTR-3B return is due on the 20th of each month. Form GSTR-3B is a simplified summary return and the purpose of the return is for taxpayers to declare their summary GST liabilities for a particular tax period and discharge these liabilities. A normal taxpayer is required to file Form GSTR-3B returns for every tax period.

Note : Taxpayer has to file Form GSTR-3B even if there is no business activity. (Nil Return). Amendment of Form GSTR-3B is not allowed.