India
India is where our offices are. We keep the books of Indian companies and file their GST, TDS and income tax returns, their Ministry of Corporate Affairs filings and their FEMA reports. Our Indian clients include subsidiaries of foreign companies and Indian companies that own companies abroad.
Checked against the sources on 14 November 2026. Each figure links to the authority that published it.
India at a glance
- Company income tax
- 25% or 30% for a domestic company, depending on turnover. 22% for a company that gives up specified deductions. Surcharge and a 4% cess are added1
- Foreign companies
- 35%, plus surcharge and cess2
- GST
- 18% standard rate and 5% merit rate since 22 September 2025. Registration is required above ₹20 lakh of turnover for most businesses3, 4
- Directors
- A private company needs two. One director must have stayed in India for at least 182 days in the financial year5
- Financial year
- 1 April to 31 March
- Income tax return
- 31 October, or 30 November where a transfer pricing report is required1
- Audit
- Every company, whatever its size5
- Authorities
- Income Tax Department, GST Network, Ministry of Corporate Affairs, Reserve Bank of India
Checked against the sources on 14 November 2026.
What we do in India
- Keep the books in Tally, Zoho Books, SAP or the system the group already uses
- File GST returns and reconcile them to the books
- Deposit TDS, file the quarterly statements and issue the certificates
- Compute advance tax and prepare the income tax return
- Prepare the annual filings with the Ministry of Corporate Affairs
- Report foreign investment to the RBI: Form FC-GPR, the FLA return, and the ODI filings for investments abroad
- Prepare monthly reporting packs for a foreign parent
What an Indian company files through the year
| Filing | With | When |
|---|---|---|
| TDS payment | Income Tax Department | By the 7th of the month after the tax was deducted. Tax deducted in March is paid by 30 April.6 |
| GST return (GSTR-3B) | GST Network | By the 20th of the following month, for businesses that file monthly.7 |
| TDS statements | Income Tax Department | Every quarter, by 31 July, 31 October, 31 January and 31 May.6 |
| Advance tax | Income Tax Department | 15% of the year’s tax by 15 June, 45% by 15 September, 75% by 15 December and 100% by 15 March, where the tax for the year is ₹10,000 or more.8 |
| Annual general meeting | Members | Within six months of the end of the financial year, which is 30 September for a 31 March year end. A company’s first meeting can be held within nine months.5 |
| Financial statements (Form AOC-4) | Registrar of Companies | Within 30 days of the annual general meeting.5 |
| Annual return (Form MGT-7 or MGT-7A) | Registrar of Companies | Within 60 days of the annual general meeting.5 |
| Income tax return | Income Tax Department | 31 October. 30 November where a transfer pricing report in Form 3CEB is required.1 |
| FLA return | Reserve Bank of India | 15 July, for every company that has received foreign investment or invested abroad.9 |
One of these dates moved this year. For assessment year 2026-27 the Central Board of Direct Taxes extended the 31 October date to 21 November 2026 for taxpayers whose accounts must be audited.10
Tax rates for companies
A domestic company pays 25% if its turnover in the reference year was ₹400 crore or less, and 30% otherwise. It can choose a rate of 22% if it gives up specified deductions and incentives.1
A surcharge is added to the tax: 7% where income is above ₹1 crore and 12% where it is above ₹10 crore, or a flat 10% for a company on the 22% rate. A health and education cess of 4% is then added to the total. A company that has not chosen the 22% rate also compares the result with a minimum alternate tax of 15% of book profit.1
A foreign company with income taxable in India, for example through a branch, pays 35%. The surcharge is 2% above ₹1 crore of income and 5% above ₹10 crore, with the same 4% cess.2
If the parent company is abroad
An Indian company that issues shares to a foreign investor reports the issue to the RBI in Form FC-GPR within 30 days. A transfer of shares between a resident and a non-resident is reported in Form FC-TRS within 60 days.11
Every year by 15 July the company files the FLA return, which lists its foreign liabilities and assets. If the audited accounts are not ready, it files on provisional figures and revises the return once they are.9
At least one director must have stayed in India for 182 days or more during the financial year.5 A parent that fills the board from its head office needs one more director who meets that test.
A company that trades with its foreign parent comes within the transfer pricing rules. Its income tax return is then due on 30 November and not on 31 October.1
On 21 July 2026 the RBI published draft rules (Press Release 2026-2027/726) that would replace the 2019 rules on foreign investment into India. If they are notified, some of the reporting steps above may change, and we will update this page.
If you own a company abroad
An Indian company or resident who invests in a company overseas reports the investment through a bank before the money leaves India, and files an Annual Performance Report every year. The steps and their dates are on our page for Indian businesses with a company abroad.
Questions we are asked
Can all the directors live outside India?
No. One director must have stayed in India for at least 182 days during the financial year.5
Does a small private company need an audit?
Yes. Every company appoints an auditor, and the Companies Act has no exemption for small companies.5
When does GST registration become compulsory?
When turnover in a financial year passes ₹20 lakh. The limit is ₹10 lakh in some special category states, and it is higher for a business that sells only goods.4
Sources
- Income Tax Department, Domestic company: tax rates and returns. Assessment year 2026-27.
- Income Tax Department, Foreign company: tax rates and returns. Assessment years 2025-26 and 2026-27.
- Ministry of Finance, Frequently asked questions on the GST rate changes recommended by the 56th GST Council. Press release, 3 September 2025.
- Central Board of Indirect Taxes and Customs, Central Goods and Services Tax Act, 2017, section 22.
- India Code, The Companies Act, 2013. Sections 92, 96, 137, 139 and 149.
- Income Tax Department, Tax deductor: payment and statement due dates.
- Goods and Services Tax Network, GSTR-3B user manual.
- Income Tax Department, FAQs on advance tax.
- Reserve Bank of India, FAQs on the Annual Return on Foreign Liabilities and Assets. Updated 1 July 2026.
- Central Board of Direct Taxes, CBDT extends due date for furnishing return of income for assessment year 2026-27. Press release, 28 September 2026.
- Reserve Bank of India, Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019. Notification No. FEMA 395/2019-RB, 17 October 2019.