Ambasamudram

25/09/2025

⚡ GST late filing? Here’s what you need to know about penalties & interest

Delaying your GST return filing comes at a high cost. Here’s the impact:

🔸 Late Fee (Sec 47): ₹50 per day (₹25 CGST + ₹25 SGST) → Max ₹5,000
🔸 Nil Return Delay: ₹20 per day (₹10 CGST + ₹10 SGST)
🔸 Interest (Sec 50): 18% per annum on tax due
🔸 No ITC Utilisation: ITC can’t be used unless return is filed
🔸 Blocking of E-Way Bills: Non-filing can block your E-Way Bill generation

✅ Regular GST compliance saves penalties, cash flow, and business reputation.

At Profile Advance, we ensure GST returns are filed on time—because we’re your PA in Tax & Compliance.

23/09/2025

🚨 TDS late filing? Here’s what you need to know about penalties

Delaying your TDS return is riskier than you think. Here’s the impact:

🔸 Late Filing Fee (234E): ₹200 per day until return is filed
🔸 Penalty (271H): ₹10,000 – ₹1,00,000 for non-filing or incorrect filing
🔸 Interest (201): 1%–1.5% per month for late deposit of TDS
🔸 No Deduction Credit: Deductees can’t claim TDS until return is filed
🔸 Higher Scrutiny Risk: Repeated delays attract notices

✅ Timely filing of TDS returns not only avoids penalties but also builds trust with employees, vendors, and the tax department.

At Profile Advance, we make sure your compliance is stress-free—because we’re your PA in Tax & Compliance.

22/09/2025

⚠️ Missed your ITR filing deadline? Here’s what happens next…

Missing the ITR due date can be costly for taxpayers. Here’s what you need to know:

🔸 Late Fee (234F): Up to ₹5,000 depending on delay
🔸 Interest (234A/B/C): On outstanding tax payable
🔸 Loss of Benefits: You can’t carry forward certain losses
🔸 Limited Time: You can still file a belated return, but with penalties
🔸 Higher Scrutiny Risk: Non-filers may attract compliance notices

✅ Filing on time saves you money, stress, and compliance risk.

At Profile Advance, we ensure you never miss deadlines—because we’re your PA in Tax & Compliance.

19/09/2025

💡 Thinking of starting your own business?
Confused between Private Limited, LLP & OPC?

Here’s the quick breakdown:
🔹 Pvt Ltd → Best for growth & funding
🔹 LLP → Cost-effective & flexible
🔹 OPC → Great for solo founders

✨ The right choice depends on your vision & goals.
At Profile Advance, we help you choose and stay compliant!

18/09/2025

🚨 Startup founders — know this before you file!

Your first financial year can be up to 15 months., Yeah You'r Right

As per Section 2(41) of the Companies Act, 2013, where a company is incorporated on or after 1st January, its first financial year may end on the 31st March of the following year.

Example: incorporated Jan 2025 → first FY = Jan 2025 to 31 Mar 2026 (15 months). This gives you extra time to set up books and close accounts properly.

Why it matters:
• Extra breathing room to complete accounting & audits before your first AGM.
• First AGM must be held within the statutory period counted from your first FY end (plan timelines accordingly).

Need help choosing the right financial year-end, preparing books, or scheduling your AGM?

Profile Advance — Your PA in Tax, Compliance & Business Growth. 🚀

📞 +91 944-9545-887 | 🌐 www.filingscenter.com

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16/09/2025

📢 Important Update
The Income Tax Department has extended the due date for filing returns only by 1 day — from 15th September to 16th September.

Make sure you don’t miss this final window! ⏳

11/09/2025

10/09/2025

⏳ Don’t wait till the last date!
📌 File your ITR for A.Y. 2024–25 with Filings Center today.

We help you with:
✅ ITR & TDS Filing
✅ GST & Accounting
✅ Business Start-Up & Audit

👉 Book your slot now and stay stress-free this tax season!

📞 +91 944-954-5887 | 🌐 www.filingscenter.com

08/02/2025