📌 Introduction

In today’s competitive and regulatory-driven environment, businesses must go beyond profits and operations—they must comply. Compliance isn’t just a legal necessity; it’s a strategic move that builds credibility, avoids penalties, and ensures long-term sustainability.

Whether you're a startup, MSME, or an established corporation, staying on top of business and tax compliance is non-negotiable. This article walks you through the key compliance requirements, offering a balanced view between legal mandates and practical execution.

🏢 1. Business Setup and Regulatory Compliance

🧾 Company Registration

• Register under the Companies Act, 2013 with MCA.

• Choose the right entity: Private Limited, LLP, OPC, or Public Limited.

🧮 Key Documents:

• Certificate of Incorporation

• PAN & TAN

• GST Registration (if applicable)

• Shops & Establishment License

• IEC Code (for export-import businesses)

📅 Timeline:

Ensure registration and licenses are acquired within 30 days of commencement.

📑 2. Mandatory Annual MCA Filings

✅ Forms to File:

• Keep minutes of meetings and statutory registers updated.

• Use ROC filing software or a CA service to automate submissions.

📈 3. Income Tax Compliance

📌 PAN-based Filings:

• ITR-6 (Companies other than Section 8)

• ITR-7 (Section 8 Companies)

📆 Important Deadlines:

💡 Best Practice:

• Maintain digital accounting records.

• Conduct internal audits to stay prepared for scrutiny.

🧾 4. Goods and Services Tax (GST) Compliance

📂 Mandatory Returns:

🚨 Common Mistakes to Avoid:

• Input Tax Credit (ITC) mismatches

• Late filing leading to interest and penalties

• Non-compliance with e-invoicing norms

💼 5. Employee-Related Compliances

👥 Payroll & Labour Laws:

• PF, ESI Registration

• Professional Tax, Gratuity, Bonus

• Form 16 issuance and TDS deductions

📋 Registers to Maintain:

• Attendance & Wage Register

• Leave Register

• Employment Agreements

🌐 6. FEMA & RBI Compliance (For Companies with Foreign Investment)

🏦 Key Filings:

• FC-GPR (Allotment of shares to foreign investors)

• FC-TRS (Transfer of shares between residents and non-residents)

• Annual return on foreign liabilities and assets (FLA Return)

📅 Deadline:

• FLA Return – 15th July every year

📘 7. Secretarial and Board Governance

📌 Regular Requirements:

• Holding of Board Meetings (Minimum 4 per year)

• Annual General Meeting (AGM)

• Appointment/Reappointment of auditors and directors

📑 Secretarial Audit:

Mandatory for:

• Listed Companies

• Public Companies with Paid-Up Capital ≥ ₹50 Cr or Turnover ≥ ₹250 Cr

📊 8. Statutory Audits and Internal Audits

🔍 Audit Types:

• Statutory Audit under Companies Act

• Tax Audit under Income Tax Act

• GST Audit (if turnover exceeds ₹5 Cr – optional post-2021)

• Internal Audit for prescribed class of companies

🔐 9. Data and Cybersecurity Compliance

If handling customer data:

• IT Act, 2000 compliance

• Implementation of data privacy policies

• For large businesses: Consider ISO 27001 Certification

🏢 10. Sector-Specific Compliances

Depending on your business type:

• NBFC: RBI Guidelines & Returns

• E-commerce: Consumer Protection (E-Commerce) Rules

• Food Business: FSSAI License & Renewals

• Education/Healthcare: Regulatory body certifications

⚖️ Consequences of Non-Compliance

📌 How Chartered Accountants Can Help

🔸 Regular Bookkeeping
🔸 Tax Planning & Filing
🔸 Compliance Calendars
🔸 Secretarial & Board Meeting Support
🔸 Audit Readiness
🔸 End-to-End MCA & GST Handling

✅ A CA isn’t just a tax expert—they are your compliance partner ensuring peace of mind.

📅 Annual Compliance Calendar (At a Glance)

🎯 Final Thoughts

Business compliance is not a burden—it’s a business advantage.
It showcases your company’s transparency, trustworthiness, and readiness for growth. With the right systems and professional help in place, you can focus on scaling while staying 100% compliant.

📞 Need Help Staying Compliant?

Let our expert Chartered Accountants handle your end-to-end business and tax compliance needs.
Book your free compliance health check today! ✅