What this covers
The income-tax position of a company or LLP from end to end — computing taxable income from the audited accounts, choosing between the ordinary and the concessional rate regimes where a choice exists, estimating and paying advance tax through the year, filing the return, and dealing with what comes back from the department.
Statutory basis
The Income-tax Act, 2025, which came into force on 1 April 2026 and replaced the Income-tax Act, 2025. Business income is computed on the accounts, adjusted for what the Act allows and disallows — depreciation on its own basis rather than the accounting basis, expenditure allowed only when actually paid, and amounts disallowed for failure to deduct tax at source. Concessional rate regimes for domestic companies, and the minimum-tax computation for companies whose book profit exceeds their taxable income, continue under the new Act; for tax years up to 31 March 2026 these were sections 115BAA and 115BAB and the minimum alternate tax under section 115JB of the 1961 Act.
Who it applies to
Every company registered in India, including a dormant company with no activity, which still has to file. LLPs, which are taxed at their own rate and are outside the concessional company regimes and outside minimum alternate tax, though the alternate minimum computation for non-company assessees can apply. A foreign company with income taxable in India, where treaty relief usually has to be considered alongside the Act.
What we do
- 1Compute taxable income from the audited accounts, with a working that ties each adjustment back to a line in the financial statements.
- 2Test whether a concessional rate regime is beneficial, and whether the conditions attached to it — including the deductions given up in exchange — actually suit your position.
- 3Run the minimum-tax computation where it applies, and track credit carried forward from earlier years.
- 4Estimate advance tax each quarter on an updated forecast rather than on last year's figure, which is where interest usually comes from.
- 5Reconcile tax deducted at source and advance tax against the department's records before filing, so credit is not lost.
- 6File the return, and keep the computation and its supporting workings in a form that answers a query two years later.
What you receive
- Computation
- The taxable-income computation with every adjustment traceable to the accounts.
- Regime analysis
- A written comparison of the rate regimes open to you, with the conditions and the trade-offs.
- Advance tax schedule
- Quarterly estimates and the challans, with the interest exposure if an instalment is short.
- Return filed
- The return filed and acknowledged, with the tax-credit reconciliation behind it.
Documents and information required
Audited financial statements with schedules · tax audit report where applicable · fixed-asset register with dates of use · details of disallowable expenditure and payments made otherwise than by banking channels · tax credit statement from the portal · advance tax and self-assessment challans · brought-forward losses and unabsorbed depreciation · related-party transactions · last two years' returns, computations and any assessment orders.
Key dates
Advance tax in four quarterly instalments through the year. The return is ordinarily due in the second half of the year following the tax year, later where a transfer pricing report is required, and the audit report precedes it. Tax year 2026-27 is the first year under the new Act, so we confirm the operative dates from the notification for the year rather than assuming the ordinary ones hold.