What is Corporate Tax?

Corporate Tax is a direct tax imposed on the net income or profit of companies and firms in India. It applies to domestic companies, foreign entities operating in India, and LLPs. Under the Income Tax Act, 1961, corporate entities must file annual returns, pay advance taxes, and comply with TDS, MAT, and audit requirements.

Whether you're a startup, a growing SME, or a well-established company, accurate corporate tax compliance is not optional—it’s essential. From preparing financials to filing Form ITR-6 or ITR-5 and meeting deadlines, our expert team ensures that your business is 100% compliant, optimized for tax efficiency, and audit-ready.

✅ Benefits of Corporate Tax Filing with Us
🎯 Provide 7 strong benefit points, written from the client’s perspective.

1️⃣ Avoid income tax penalties and government scrutiny
2️⃣ Optimize your tax liability through legal deductions and rebates
3️⃣ File ITR accurately with TDS, MAT, and depreciation calculations
4️⃣ Ensure audit compliance and statutory reporting
5️⃣ Simplify complex income sources like capital gains or foreign income
6️⃣ Stay on track with advance tax and TDS deadlines
7️⃣ Peace of mind with expert-managed corporate tax process

📑 Documents Required for Corporate Tax Filing
📂 List all required documents with relevant emojis and brief explanations.

1️⃣ 🧾 Financial Statements – Audited P&L, Balance Sheet, and Cash Flow Statement
2️⃣ 🧾 Tax Audit Report – Form 3CA/3CB and 3CD (if applicable)
3️⃣ 📅 TDS/TCS Returns – Quarterly filed returns and Form 16A/26AS
4️⃣ 💼 PAN & TAN – Company’s PAN and TAN details
5️⃣ 🧮 Depreciation Schedule – As per Income Tax Act or Companies Act
6️⃣ 📥 Bank Statements – Business account statements for the FY

👤 Eligibility for Corporate Tax Filing
🧾 Explain in detail who is eligible or required to avail of this service.

Corporate tax filing is mandatory for:

• Private Limited Companies (ITR-6)

• Limited Liability Partnerships – LLPs (ITR-5)

• Foreign companies operating in India

• Companies claiming tax holidays, MAT, or deductions

• Entities with annual turnover exceeding ₹1 crore (audit requirement)

• Companies with losses (required to file to carry forward losses)

Even dormant or zero-revenue companies must file returns to avoid legal complications.

🔄 Process of Filing Corporate Tax Returns
🔁 Provide a step-by-step explanation of how the service is executed from start to finish.

1️⃣ Initial Consultation – Understand business structure and assess compliance needs
2️⃣ Document Collection – Collect financials, tax audit reports, TDS data, etc.
3️⃣ Tax Computation – Calculate taxable income after deductions and adjustments
4️⃣ Advance Tax & MAT Planning – Verify if any advance payments or MAT are applicable
5️⃣ Return Preparation & Review – Draft ITR-6/ITR-5, reconcile TDS, audit entries
6️⃣ E-Filing & Acknowledgement – Submit return online and provide ITR-V/acknowledgment

⏱️ Timeline for Corporate Tax Filing
⏳ Mention the approximate time it takes to complete the service.

The corporate tax filing deadline is:

• 31st October of the assessment year for companies subject to audit

• 30th September for non-audited LLPs and firms

We recommend starting the process at least 2–4 weeks in advance to ensure accuracy and avoid last-minute rushes. Turnaround for final filing typically ranges from 5 to 10 working days, depending on document readiness and audit status.

❓ Frequently Asked Questions (FAQs) about Corporate Tax

1️⃣ What is the corporate tax rate in India?
As of now, domestic companies pay 22% (plus surcharge & cess) under the new tax regime. Startups and older companies may qualify for special rates.

2️⃣ Is tax filing mandatory even if my company has no income?
Yes. All registered companies must file an ITR regardless of profit or loss.

3️⃣ Which ITR form do companies use?
Private Limited Companies use ITR-6, and LLPs use ITR-5.

4️⃣ What is MAT (Minimum Alternate Tax)?
MAT ensures companies pay a minimum tax even when using legal deductions to show zero taxable profit.

5️⃣ Is audit compulsory for all companies?
Audit is mandatory for companies with turnover above ₹1 crore or where law requires statutory audit.

6️⃣ What are the penalties for not filing a corporate ITR?
Late filing attracts penalties up to ₹10,000, interest on tax dues, and disqualification from loss carry-forward.

7️⃣ Can you help with advance tax calculation?
Yes. We help calculate and pay advance tax in quarterly installments.

8️⃣ Can companies carry forward losses?
Yes, but only if ITR is filed before the due date.

9️⃣ How is TDS linked to corporate tax?
TDS deducted on payments made to the company must be reconciled with Form 26AS during ITR filing.

🔟 Do you provide end-to-end corporate tax compliance?
Yes. We offer complete services including tax planning, audit coordination, and return filing.