FAQ
Frequently Asked Questions
Quick answers to the questions we hear most across company registration, GST, income tax, and audit — each with a link to the full guide on that topic.
How long does company registration take in Chennai?
With documents ready, Private Limited and LLP registration typically completes in 7–15 working days through the MCA's SPICe+ / FiLLiP forms, depending on processing times and whether the name-approval step needs a resubmission.
Full company registration guide →What's the turnover limit for mandatory GST registration?
₹40 lakh for suppliers of goods (₹20 lakh in special-category states) and ₹20 lakh for suppliers of services. Certain categories — inter-state suppliers, e-commerce sellers, casual taxable persons — must register regardless of turnover.
Full GST registration guide →What should I do if I receive a GST show-cause notice?
Note the response deadline (usually 30 days), gather the invoices, e-way bills, and GSTR filings referenced in the notice, and reply before the window closes — a missed reply can lead to an ex-parte order confirming the full demand.
Full GST litigation guide →When is the income tax return filing deadline?
For most individuals and non-audit taxpayers, 31 July of the assessment year; for businesses requiring a tax audit, typically 31 October. Exact dates are notified annually by the CBDT and occasionally extended.
Full ITR filing guide →Is a statutory audit mandatory even for a dormant company?
Yes. Every company registered under the Companies Act must have its financial statements audited annually regardless of turnover, profit, or business activity — a dormant or zero-transaction company is not exempt.
Full statutory audit guide →What turnover triggers a tax audit under Section 44AB?
₹1 crore for businesses generally (₹10 crore if cash receipts and payments are each within 5% of total transactions), and ₹50 lakh in gross receipts for professionals. These thresholds are set by the Finance Act and can change year to year.
Full tax audit guide →What's the difference between an LLP and a Private Limited Company?
An LLP has lower compliance requirements and no share-capital structure, but cannot raise equity investment the way a company can. A Private Limited Company suits businesses planning to raise funding; an LLP suits professional partnerships wanting liability protection without that overhead.
Full LLP registration guide →Who actually needs a Virtual CFO?
Startups managing investor reporting for the first time, and SMEs scaling to a point where the founder can no longer track cash flow, margins, and budgets confidently — the trigger is usually a recurring pattern of unclear numbers, not a specific revenue threshold.
Full Virtual CFO guide →What happens if I miss an ROC filing deadline?
Late filing attracts an additional fee that can run up to several times the normal fee depending on the delay, and prolonged non-compliance can lead to director disqualification or the company being struck off by the ROC.
Full ROC compliance guide →Is Udyam (MSME) registration mandatory?
It's not legally mandatory to operate a business, but without it you cannot access MSME-specific benefits — priority lending, delayed-payment protection, tender eligibility, and subsidy schemes — so most eligible businesses register voluntarily.
Full MSME/Udyam guide →Get Started
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