5 Compliance Checklists Every Indian Business Should Bookmark

Checklist Compliance GST · ITR · ROC

Compliance is rarely the founder's favourite topic, but it is reliably the topic that costs the most when ignored. The five checklists below are the ones our practice uses internally during onboarding for each engagement type — distilled into a form you can bookmark, share on WhatsApp, and walk through with your team. Each item is checkable as a practical step, not a theoretical concept.

1. GST Registration Checklist

Use this checklist before submitting Form GST REG-01 on gst.gov.in. Missing any item here is the single most common reason for rejection or clarification notices.

Eligibility & Threshold

• ☐ Confirm aggregate turnover crosses the threshold (Rs. 40 lakh for goods / Rs. 20 lakh for services in regular states; Rs. 20 lakh / Rs. 10 lakh in special category states).
• ☐ Check whether mandatory registration applies regardless of turnover (inter-state supply, e-commerce sale, casual taxable person, reverse charge liability, NRTP).
• ☐ Decide regular vs Composition Scheme — confirm Composition eligibility (turnover under Rs. 1.5 crore for traders/manufacturers; under Rs. 50 lakh for specified services).

Documents — Proprietor / Partnership / Company

• ☐ PAN of the entity / proprietor.
• ☐ Aadhaar of the proprietor or all partners / directors.
• ☐ Photograph of authorised signatory (passport size, JPEG, < 100KB).
• ☐ Constitution document — Partnership Deed (firm) / Certificate of Incorporation + MOA + AOA (company) / nothing extra (proprietor, PAN sufficient).
• ☐ Authorisation letter and resolution (for partnership / company) appointing the authorised signatory.
• ☐ Bank account proof — cancelled cheque or first-page bank statement showing entity name + account number + IFSC.

Place of Business Proof

• ☐ If owned — latest property tax receipt or Khata or electricity bill.
• ☐ If rented — registered rent agreement + landlord's NOC + landlord's electricity bill or tax receipt.
• ☐ If consent (family / co-share) — consent letter on plain paper from the owner + their property document + their electricity bill.
• ☐ For Faridabad / Haryana: DHBVN electricity bill is the most commonly accepted utility proof.

Post-Submission

• ☐ Aadhaar authentication of the authorised signatory (typically within 15 days; otherwise physical verification is triggered).
• ☐ Track ARN status; respond to any clarification request within 7 working days.
• ☐ Once GSTIN is received: print the certificate, display at place of business, update e-invoicing setup, and set up monthly return-filing calendar.

2. ITR Filing Checklist (Salaried + Business)

Use this before sitting down to file your return. Most ITR errors stem from missing one of these source documents.

For Every Taxpayer

• ☐ PAN, Aadhaar, and PAN-Aadhaar linking confirmed.
• ☐ Bank account details (account number + IFSC) for refund.
• ☐ Form 26AS downloaded from incometax.gov.in.
• ☐ AIS (Annual Information Statement) and TIS (Taxpayer Information Summary) downloaded — reconcile against your records.
• ☐ Pre-filled JSON / draft return downloaded from the e-filing portal as a starting point.

Salaried Individual

• ☐ Form 16 from current employer (and previous employer if changed jobs mid-year).
• ☐ Salary slips for the year (used for HRA / LTA computation).
• ☐ Rent receipts + landlord PAN (if rent > Rs. 1 lakh annually) for HRA exemption.
• ☐ Section 80C proofs — LIC premium, PPF, ELSS, principal portion of home loan, tuition fees, etc.
• ☐ Section 80D proofs — health insurance premium, preventive health check-up, medical insurance for parents.
• ☐ Home loan interest certificate (Section 24(b)) if applicable.
• ☐ Capital gains statement from broker / mutual fund (for ITR-2 trigger).
• ☐ Foreign asset disclosure data (Schedule FA) if any foreign account / brokerage / property.

Business / Profession

• ☐ P&L and Balance Sheet for FY (audited if Section 63 of the Income-tax Act, 2025 — earlier Section 44AB — applies).
• ☐ Books of account — cash book, ledger, journals as required under Section 44AA.
• ☐ Bank statements for all accounts — operational + savings linked to business.
• ☐ TDS deducted by clients (verify against Form 26AS).
• ☐ GST returns filed for the year — match books to GSTR-1 / 3B.
• ☐ Section 44AD / 44ADA presumptive eligibility check (turnover under Rs. 2 crore / Rs. 50 lakh).
• ☐ Form 26 (consolidated tax audit form under the Income-tax Act, 2025; replaces Form 3CD / 3CB) if Tax Audit applicable.

Common-Sense Final Checks

• ☐ Right ITR form selected (1, 2, 3, 4, 5, 6, or 7).
• ☐ Old vs New regime chosen consciously, not by default.
• ☐ Total tax matches Form 26AS + advance tax + self-assessment tax.
• ☐ Bank validated for refund credit.
• ☐ Return e-verified within 30 days (Aadhaar OTP / netbanking / DSC).

3. Pvt Ltd Incorporation Checklist (SPICe+)

For incorporating a Private Limited Company through SPICe+ on the MCA portal.

Pre-Filing

• ☐ Decide minimum 2 directors (one Indian-resident, who has stayed in India for at least 182 days in the previous calendar year).
• ☐ Obtain Digital Signature Certificate (DSC) Class 3 for all proposed directors.
• ☐ Apply for DIN (Director Identification Number) for those who do not have one (allotted as part of SPICe+ Part B for first-time directors, max 3).
• ☐ Reserve company name via SPICe+ Part A — propose 2 options, check trademark availability, ensure name complies with Companies (Incorporation) Rules.

Documents — Each Director / Shareholder

• ☐ Self-attested PAN copy.
• ☐ Aadhaar / Passport / Voter ID / Driving Licence (one as identity proof).
• ☐ Latest bank statement / utility bill (under 2 months) as address proof.
• ☐ Passport-size photograph.

Registered Office Documents

• ☐ Sale deed / title document (if owned) OR rent agreement (if rented).
• ☐ Latest electricity / property tax receipt for the registered office address.
• ☐ NOC from the property owner.

SPICe+ Filing

• ☐ MOA (Form INC-33) — main object clause + ancillary objects.
• ☐ AOA (Form INC-34) — Table F adoption or modified articles.
• ☐ INC-9 declaration by subscribers and first directors.
• ☐ AGILE-PRO — GSTIN, EPFO, ESIC, profession tax, opening of bank account, shop & establishment registration (state-dependent).
• ☐ INC-22 (situation of registered office) if not filed in SPICe+.

Post-Incorporation (within 30 days unless noted)

• ☐ Receive Certificate of Incorporation, PAN, TAN, GSTIN (where included).
• ☐ Open the company current bank account.
• ☐ Subscribers infuse capital into the company account within 60 days of incorporation.
• ☐ INC-20A (Commencement of Business) within 180 days of incorporation.
• ☐ Appoint first auditor within 30 days via Board Resolution; file ADT-1.
• ☐ Issue share certificates to subscribers within 60 days.
• ☐ Open statutory registers (members, charges, debenture-holders, etc.).

4. Tax Audit Preparation Checklist

If your business or profession crosses the Tax Audit threshold under Section 63 of the Income-tax Act, 2025 (earlier Section 44AB), this is the file your CA will request.

Books & Reconciliations

• ☐ Trial Balance as on 31 March, signed by management.
• ☐ P&L and Balance Sheet, finalised.
• ☐ Bank reconciliation statements for all accounts.
• ☐ Cash book reconciled — daily / weekly closing tied to physical / Tally cash.
• ☐ Stock register for opening, purchases, sales, and closing valued per AS-2 / Ind AS 2.
• ☐ Fixed asset register with depreciation per Income Tax / Companies Act / Schedule II.

Statutory Reconciliations

• ☐ GST output vs P&L revenue reconciliation; differences explained.
• ☐ TDS deducted — Form 26Q / 24Q / 27Q filed; tally to TDS payable in books.
• ☐ Form 26AS download — match to TDS receivable in books.
• ☐ Advance tax challans — reconcile to advance tax debited in P&L.

Form 26-Specific (consolidated tax audit form; replaces Form 3CD)

• ☐ List of related parties + transactions during the year.
• ☐ Specified bank notes / cash payments > Rs. 10,000 — Section 40A(3) disclosure.
• ☐ Loans / deposits accepted or repaid in cash > Rs. 20,000 (Sections 269SS / 269T).
• ☐ Section 43B items — provision for tax, GST, EPF, ESI — paid before due date check.
• ☐ ICDS-wise impact computation (10 standards).
• ☐ Capital gains during the year, even if exempt.
• ☐ Donations > Rs. 2,000 paid otherwise than through banking channel — disallowed under Section 80G(5D).
• ☐ Personal-nature expenses passed through P&L — disallow.

5. ROC Annual Compliance Checklist (Pvt Ltd)

For private limited companies under the Companies Act, 2013. Every item below has a hard deadline; missed deadlines attract per-day penalties.

Quarterly

• ☐ Board Meeting at least once per quarter (minimum 4 per year, max 120 days gap between meetings).
• ☐ Notice of Board Meeting to all directors at least 7 days before.
• ☐ Minutes of Board Meeting recorded and signed by chairperson.

Annual — Time-Bound

• ☐ AGM held within 6 months of FY end (within 9 months for first AGM).
• ☐ Notice of AGM to all members at least 21 clear days before.
• ☐ Form AOC-4 — financials with the ROC, within 30 days of AGM.
• ☐ Form MGT-7 / MGT-7A (small company) — annual return, within 60 days of AGM.
• ☐ Form ADT-1 — auditor appointment / ratification, within 15 days of AGM.
• ☐ Form DIR-3 KYC for every director, by 30 September.
• ☐ Form DPT-3 — return of deposits / amounts not treated as deposits, by 30 June.

Event-Based

• ☐ Form INC-22 — change of registered office (within 15 / 30 days).
• ☐ Form DIR-12 — change in directors (within 30 days).
• ☐ Form MGT-14 — special resolution (within 30 days).
• ☐ Form CHG-1 / CHG-4 — creation / satisfaction of charges (within 30 days).
• ☐ Form PAS-3 — allotment of shares (within 30 days).
• ☐ Form SH-7 — increase in authorised capital (within 30 days).

Maintenance & Records

• ☐ Statutory Registers — members, debenture holders, charges, contracts, directors' KMP, related party transactions.
• ☐ Maintain books of account at registered office (or notify ROC of alternate address).
• ☐ Preserve books, audit reports, and minutes for at least 8 years (Section 128 + Section 118).

The five checklists above cover the highest-frequency compliance touchpoints for an Indian business in its first decade. Each one has nuances that depend on facts — partner number, sector, turnover, foreign element — and a CA review of your specific situation will catch the items the checklist cannot anticipate. But used as a baseline, these prevent the most common slips.