Frequently asked
Questions we're asked most.
General answers to the questions that come up on almost every first call. Your own situation may differ — that's what the consultation is for.
Income Tax
05- Which tax regime should I choose — old or new?
- It depends entirely on how much you actually claim as deductions. The new regime has wider slabs and a higher standard deduction but disallows most deductions, so it usually wins unless you have substantial 80C investments, health insurance, home loan interest and HRA together. Our indicative calculator gives you a starting comparison, and we confirm it against your actual figures before filing.
- Do I need to file a return if my employer already deducted TDS?
- Yes, in most cases. TDS is tax collected in advance, not a return — filing is a separate obligation that arises once your total income crosses the basic exemption limit. Filing is also how you claim a refund if excess TDS was deducted, which is common when investment proofs are submitted late.
- What is the AIS, and why does it matter before filing?
- The Annual Information Statement is the department's own record of your financial transactions — interest, dividends, securities trades, property dealings and large payments reported by banks and other institutions. If your return does not reconcile with it, the mismatch is what typically triggers an automated notice. We reconcile against the AIS as a standard step before filing rather than as an afterthought.
- I received a notice from the Income Tax Department. What should I do?
- Read which section it is issued under before responding, because the deadline and the required action differ sharply between an intimation under section 143(1), a defective return notice under 139(9), and a scrutiny notice under 143(2). Most notices have a short response window, and missing it converts a routine query into a much more expensive problem. Send it to us as soon as you receive it.
- How much advance tax do I need to pay, and when?
- Advance tax applies once your estimated annual liability, after TDS, is ₹10,000 or more, and it is payable in four instalments across the financial year rather than as a lump sum. Shortfalls attract interest under sections 234B and 234C, which is why estimating early in the year matters more than paying accurately in March.
GST
03- When do I have to register for GST in [CITY]?
- Registration is triggered either by crossing the turnover threshold — which differs for goods and for services, and is lower in special-category states — or by falling into a compulsory-registration category regardless of turnover, such as making inter-state supplies, selling through an e-commerce operator, or being liable under reverse charge. Many small businesses in [CITY] discover they were compulsorily registrable well before they hit any threshold.
- Why can't I claim input tax credit on some of my purchases?
- The two usual reasons are that the supplier has not filed their GSTR-1, so the invoice never appears in your GSTR-2B, or that the expense falls into a blocked category under section 17(5) — motor vehicles, works contracts for immovable property, and personal consumption among them. Credit that never reaches your 2B is effectively a cost until the supplier corrects their filing.
- What is the QRMP scheme and should I opt for it?
- QRMP lets smaller taxpayers file GSTR-1 and GSTR-3B quarterly instead of monthly, while still paying tax monthly through a challan. It reduces filing frequency but not payment frequency, and it can delay when your customers see your invoices in their 2B — which matters if you supply to larger businesses that reconcile credit monthly.
Company & ROC
02- My company has no revenue yet. Do I still have compliance obligations?
- Yes. Annual ROC filings, director KYC, board meetings and an income tax return are obligations of the company's existence, not of its turnover. Additional fees for late ROC filings accrue per day and do not lapse, so a dormant company can quietly build a substantial liability by doing nothing at all.
- Should I register a private limited company or an LLP?
- Choose a private limited company if you expect to raise external equity, issue ESOPs or bring in investors, since only a company structure supports share capital. An LLP has a materially lighter annual compliance burden and lower running cost, which suits professional practices and closely held businesses with no fundraising plans.
Working with us
02- Do I need to visit your office in [CITY]?
- No. Most engagements run entirely over WhatsApp, email and video calls, and documents can be shared digitally. If you would prefer to meet in person — and for some matters, such as detailed planning discussions, it genuinely helps — you are very welcome at the office.
- How are your fees structured?
- Fees are quoted as a fixed amount for the specific engagement before any work begins, so there is no hourly meter running and no invoice you did not expect. Recurring work such as monthly bookkeeping or GST filing is quoted as a monthly retainer. [TODO: add the firm's indicative fee ranges here, or link to a fee schedule, if the firm wishes to publish them.]
These answers describe the general statutory position and are not advice on your particular facts. Nothing here creates a client relationship.
Next step
Question not answered here?
Send it over on WhatsApp. If it's a quick one, you'll get a quick answer — no consultation required.