![\"List](\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2021\/10\/image003-8.png\")
<\/figure><\/div>\n\n\n\n1.<\/strong> Registration and Filing of GST<\/strong><\/p>\n\n\n\n The Goods and Services Tax (GST) is already in effect and applies to all Indian enterprises. If someone provides a service or sell a product, they must charge GST on it. The GST rates differ depending on the sector. The need to file GST returns<\/a><\/strong> is also determined by the type of business someone operates. Despite the situation, businesses must register for GST<\/a><\/strong> and file GST returns by the dates set by the Indian government.<\/p>\n\n\n\n According to the current rules, the mentioned entities are required to register with GST:-<\/p>\n\n\n\n 2.<\/strong> Filing of business tax returns<\/strong><\/p>\n\n\n\n You manage a business to generate a profit, which is your company’s income. You must submit business income tax returns and pay tax on the income as well. Businesses must pay advance tax too every quarter. As an entrepreneur, one must ensure that the money generated by their company is documented by filing income tax returns<\/a><\/strong>.<\/p>\n\n\n\n 3.<\/strong> Filing of ROC Returns<\/strong><\/p>\n\n\n\n All the businesses registered under the Companies Act, 2013 or the previous Companies Act 1956<\/strong>[1]<\/strong><\/a><\/sup> must file annual returns with the (ROC) Registrar of Companies. Such ROC returns are essentially returns of the company’s accounts, which include the balance sheet, profit and loss statement, yearly return, and compliance certificate.<\/p>\n\n\n\n The RoC demands these files to investigate the company’s financial situation. As part of your annual compliance, you must file the following forms:-<\/p>\n\n\n\n 4. TDS Return Filing<\/strong><\/p>\n\n\n\n When a company makes a payment, it deducts tax from the payment amount. This can refer to staff salary, consulting fees, or payments made for any work done by the company. TDS must be deducted from the payment at the appropriate TDS rates. This deducted TDS must be submitted with the government, and TDS returns<\/a><\/strong> must be filed too.<\/p>\n\n\n\n 5. Maintaining books of account in order for the business to run smoothly<\/strong><\/p>\n\n\n\n A company’s books of accounts must be kept up to date. Bookkeeping is beneficial not only to the business owner, but it is also necessary by the tax department and investors occasionally. You must keep track of your earnings & expenditures in order to keep your finances in order. These are a few of the tax and compliance responsibilities that every company must complete. As a result, whether you are a developing company, a startup, or a large corporation, you must always stay on top of your internal bookkeeping processes.<\/p>\n\n\n\n The activities listed above are some of the most critical tax and compliance responsibilities that a company cannot afford to overlook. Hope you finish everything on time and remain within the rules. Contact Enterslice if you require assistance or professional advice on addressing your tax and compliance responsibilities. We have a group of legal professionals and experts who may help you manage and arrange your taxes properly.<\/p>\n\n\n\nConclusion<\/h2>\n\n\n\n