Category: Business Compliances

What is PTRC?

PTRC (Professional Tax Registration Certificate) is mandatory for employers who deduct professional tax from employee salaries and deposit it with the State Government. PTRC compliance ensures legal salary processing and avoids heavy penalties.

If your business employs staff in Maharashtra, PTRC monthly payment is compulsory.

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Who Must Pay PTRC?

Entity Type	PTRC Required
Private Limited Company	Yes
LLP	Yes
Partnership Firm	Yes
Proprietorship with staff	Yes
NGOs / Trusts with employees	Yes
Schools / Hospitals / Factories	Yes

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PTRC Monthly Due Date

Month	Due Date
Every Month	On or before 30th of next month

Example:
April salary PTRC must be paid by 30th May

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PTRC Tax Slab (Maharashtra)

Employee Salary	PTRC Deduction
Up to ₹7,500 (Men)	NIL
₹7,501 – ₹10,000	₹175
Above ₹10,000	₹200
February Only	₹300

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Step-by-Step PTRC Monthly Payment Process

Step 1 – Login

Visit: https://mahagst.gov.in
Login with your PTRC credentials.

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Step 2 – Go to PTRC Returns

Click:

Returns → PTRC Returns → Monthly Return

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Step 3 – Select Period

Choose:

• Financial Year
• Month for which payment is due

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Step 4 – Enter Employee Data

Fill:

• Number of employees
• Salary slab-wise distribution
• System will auto-calculate PTRC payable

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Step 5 – Submit Return

Verify details and click Submit Return

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Step 6 – Generate Challan

Click Generate Challan
Select payment mode:

• Net Banking
• Debit Card
• NEFT / RTGS

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Step 7 – Make Payment

Pay online and download:

• PTRC Challan
• Acknowledgement receipt

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Late Fees & Penalty

Default	Penalty
Late PTRC Payment	₹1,000 per return
Interest	1.25% per month
Continued Non-Compliance	Legal Notices & Bank Attachment

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Why PTRC Compliance is Important

✔ Legal salary processing
✔ Mandatory for audits
✔ Required for GST & bank compliance
✔ Avoid penalties and notices
✔ Improves company compliance score

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How Saving Mantra Helps

Saving Mantra provides:

• Monthly PTRC return filing
• Auto salary slab calculation
• Compliance calendar reminders
• Challan generation & payment support
• GST + PTRC combined compliance dashboard

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Disclaimer

This article is for informational purposes only. Professional Tax laws are subject to state amendments. Kindly consult Saving Mantra compliance experts before filing.

Step-by-Step Process for Filing Valuation

Step 1: Identify the Purpose of Valuation

Determine the reason for valuation:

• Compliance under Companies Act
• Income Tax Act (Rule 11UA / 11UAA)
• FEMA / FDI reporting
• Investor or funding requirement

The purpose defines the method and authority required.

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Step 2: Appoint a Qualified Valuer

Engage the appropriate professional:

• Registered Valuer (Companies Act)
• Merchant Banker (FDI / FEMA cases)
• Chartered Accountant (Income Tax valuation)

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Step 3: Select Valuation Method

Common valuation methods include:

• Discounted Cash Flow (DCF)
• Net Asset Value (NAV)
• Comparable Company Method
• Comparable Transaction Method

The valuer selects the method based on business nature and regulations.

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Step 4: Prepare & Share Required Information

Provide necessary documents such as:

• Financial statements
• Projected financials
• Shareholding pattern
• Business profile & pitch deck
• Details of assets & liabilities

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Step 5: Valuation Analysis & Computation

The valuer:

• Reviews financials and projections
• Applies valuation methodology
• Calculates fair value per share / asset
• Documents assumptions and workings

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Step 6: Issue Valuation Report

A signed and certified valuation report is issued containing:

• Purpose of valuation
• Valuation method used
• Fair value conclusion
• Assumptions & limitations

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Step 7: Board Approval (If Applicable)

• Place valuation report before Board
• Pass board resolution approving valuation
• Authorize usage for filings or transactions

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Step 8: Filing & Regulatory Use

Use valuation report for:

• MCA filings (PAS-3, MGT-14, SH-7, etc.)
• Income Tax compliance
• FEMA filings (FC-GPR, FC-TRS)
• Investor agreements & audits

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Documents Required for Valuation

• Last 2–3 years financial statements
• Provisional/current year financials
• Projected financials (3–5 years)
• Shareholding details
• Business model & revenue notes

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Time Required for Valuation

Type of Valuation	Estimated Time
Share valuation (startup)	3–5 working days
Business valuation	5–10 working days
Complex restructuring	10–15 working days

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Benefits of Proper Valuation Filing

• Regulatory compliance
• Avoids tax disputes
• Investor confidence
• Transparent pricing of shares
• Smooth audits & due diligence

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How Saving Mantra Helps

Saving Mantra offers end-to-end valuation support, including:

• Purpose & method advisory
• Registered valuer coordination
• Startup & investor valuation
• MCA, FEMA & tax filing support
• Ongoing compliance management

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Frequently Asked Questions (FAQs)

Q1. Is valuation mandatory for share issuance?
Yes, valuation is mandatory for private placement, preferential allotment, and ESOPs.

Q2. Who can issue a valuation report?
Only authorized professionals like Registered Valuers, Merchant Bankers, or CAs (as applicable).

Q3. How long is a valuation report valid?
Generally valid for 6 months, unless regulations specify otherwise.

Q4. Is DCF mandatory for startups?
DCF is commonly preferred for startups, especially for income tax and FEMA purposes.

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Disclaimer

This article is for informational purposes only and does not constitute legal, tax, or valuation advice. Valuation requirements vary based on transaction type and regulations. Consult Saving Mantra experts for accurate and compliant valuation filing.

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Step-by-Step Process for Filing NGO Registration

Step 1: Decide the Type of NGO

Choose the appropriate structure based on:

• Nature of activities
• Geographical area of operation
• Funding plans (CSR, foreign grants, donations)
• Compliance preference

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Step 2: Select NGO Name

• Choose a unique and meaningful name
• Ensure the name does not violate trademarks or existing entities
• Avoid prohibited or misleading words

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Step 3: Prepare Constitutional Documents

Draft the core documents based on NGO type:

• Trust Deed (for Trust)
• Memorandum of Association (MOA) & Rules (for Society)
• MOA & AOA (for Section 8 Company)

These documents define:

• Objectives
• Management structure
• Fund utilization
• Dissolution clause

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Step 4: Collect Documents of Members

Prepare documents of founders/trustees/directors:

• PAN card
• Aadhaar / Passport / Voter ID
• Address proof
• Passport-size photographs

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Step 5: Prepare Registered Office Proof

Documents required:

• Utility bill (not older than 2 months)
• Rent agreement or ownership proof
• No Objection Certificate (NOC) from owner

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Step 6: File NGO Registration Application

File application with the appropriate authority:

• Trust: Sub-Registrar Office
• Society: Registrar of Societies
• Section 8 Company: Ministry of Corporate Affairs (MCA)

Submit all documents and pay government fees.

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Step 7: Verification & Approval

• Authorities verify documents and objectives
• Clarifications may be requested
• Upon approval, registration certificate is issued

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Step 8: Apply for PAN & Bank Account

After registration:

• Apply for PAN in NGO’s name
• Open NGO bank account
• Register on NGO Darpan (optional but recommended)

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Step 9: Apply for Tax & Funding Benefits (Optional)

To enhance funding opportunities:

• 12A Registration – Income tax exemption
• 80G Registration – Tax benefit to donors
• CSR-1 Registration – CSR funding eligibility
• FCRA Registration – Foreign donations

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Documents Required for NGO Registration

• Identity & address proof of members
• NGO name approval
• Registered office proof
• Constitutional documents
• Passport-size photographs

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Time Required for NGO Registration

NGO Type	Estimated Time
Trust	7–10 working days
Society	10–15 working days
Section 8 Company	15–25 working days

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Benefits of NGO Registration

• Legal recognition
• Eligibility for government & CSR grants
• Tax exemptions
• Increased donor confidence
• Transparency & accountability

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How Saving Mantra Helps

Saving Mantra provides end-to-end NGO registration services, including:

• Structure selection advisory
• Drafting of Trust Deed / MOA / AOA
• Registration filing & follow-ups
• PAN, 12A, 80G, CSR-1 & FCRA assistance
• Ongoing compliance support

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Frequently Asked Questions (FAQs)

Q1. Can a single person start an NGO?
Trust requires minimum 2 trustees, Society requires minimum 7 members, Section 8 requires minimum 2 directors.

Q2. Is NGO registration mandatory?
Yes, registration is mandatory to operate legally and receive funds.

Q3. Can an NGO earn profits?
Yes, but profits must be used only for charitable objectives.

Q4. Which NGO structure is best?
Section 8 Company is preferred for credibility and CSR funding, while Trust and Society suit smaller operations.

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Disclaimer

This article is for informational purposes only and does not constitute legal or professional advice. NGO laws and procedures may change. Consult Saving Mantra experts for accurate and updated guidance.

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Step-by-Step Process for Filing Change in Company Address

Step 1: Identify the Nature of Address Change

Determine whether the change is:

• Within city limits
• Outside city limits but same ROC
• Different ROC or state

This determines the MCA forms and approvals required.

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Step 2: Conduct Board Meeting

• Pass a Board Resolution approving the change of registered office
• Authorize a director/company secretary to file forms

(Board resolution is mandatory in all cases)

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Step 3: Obtain Shareholders’ Approval (If Required)

Required when:

• Change is outside city limits
• Change involves ROC or state change
• Conduct EGM
• Pass Special Resolution

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Step 4: Prepare Address Proof Documents

Collect and prepare:

• Utility bill (electricity/water/gas – not older than 2 months)
• Rent agreement or sale deed
• No Objection Certificate (NOC) from owner
• Address proof of authorized signatory

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Step 5: File MCA Form INC-22

• File Form INC-22 with MCA
• Attach:
  • Board resolution
  • Address proof documents
  • NOC from owner

Timeline:
👉 Within 30 days of address change

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Step 6: File MGT-14 (If Applicable)

• Mandatory for:
  • Address change outside city
  • ROC or state change

Attach:

• Special resolution
• EGM notice & minutes

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Step 7: ROC Approval & Confirmation

• ROC verifies documents
• On approval:
  • New registered office reflects on MCA portal
  • Certificate issued (in case of ROC/state change)

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Step 8: Update Address with Other Authorities

After MCA approval, update address with:

• PAN & TAN
• GST department
• Banks
• PF & ESIC
• Letterheads, invoices, website

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Documents Required for Company Address Change

• Board resolution
• Special resolution (if applicable)
• Utility bill
• Rent agreement or sale deed
• NOC from owner
• INC-22 & MGT-14 forms

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Penalty for Non-Compliance

Default	Penalty
Delay in filing INC-22	₹1,000 per day
Maximum penalty	₹1,00,000

Non-filing may also lead to notices and legal action.

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Benefits of Timely Address Change Filing

• Ensures statutory compliance
• Avoids MCA penalties
• Smooth audits & inspections
• Accurate government communication
• Improves business credibility

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How Saving Mantra Helps

Saving Mantra provides complete address change compliance support, including:

• Board & shareholder resolution drafting
• MCA form filing (INC-22, MGT-14)
• ROC coordination
• PAN, GST & statutory updates
• End-to-end compliance management

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Frequently Asked Questions (FAQs)

Q1. Is it mandatory to inform MCA about address change?
Yes, any change in registered office must be filed with MCA.

Q2. Can a company change its address without board approval?
No, board approval is compulsory.

Q3. How long does ROC take to approve address change?
Usually 3–7 working days, depending on the type of change.

Q4. Can address be changed to a residential property?
Yes, with valid address proof and owner’s NOC.

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Disclaimer

This article is for informational purposes only and does not constitute legal advice. Procedures and rules may change as per MCA notifications. For accurate and updated compliance, consult Saving Mantra professionals.

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Step 1: Identify Applicable Sustainability Framework

Determine which framework applies to your organization:

• Indian listed entities → BRSR (SEBI)
• Global stakeholders → GRI / ESG / TCFD
• Industry-specific needs → SASB

Clear framework selection ensures accurate disclosures.

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Step 2: Define Scope and Reporting Boundaries

Decide:

• Reporting period (financial year)
• Entities/subsidiaries covered
• Geographic scope
• Operational boundaries

This avoids inconsistencies and data gaps.

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Step 3: Form an Internal Sustainability/ESG Team

Create a cross-functional team including:

• Finance
• HR
• Operations
• Legal & Compliance
• Environment, Health & Safety (EHS)

Assign clear roles for data ownership and validation.

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Step 4: Identify Material ESG Topics

Conduct a materiality assessment to identify key ESG issues such as:

• Energy usage & emissions
• Water & waste management
• Employee welfare & diversity
• Ethics, governance & compliance
• Community & social impact

Material topics are mandatory disclosures in most frameworks.

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Step 5: Collect ESG Data

Gather quantitative and qualitative data, including:

Environmental Data

• Energy consumption
• Carbon emissions
• Water usage
• Waste generation

Social Data

• Employee strength & diversity
• Health & safety metrics
• Training & development
• CSR activities

Governance Data

• Board composition
• Ethics policies
• Risk management
• Compliance records

Ensure data accuracy and documentation.

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Step 6: Validate and Verify Data

• Cross-check data internally
• Align metrics with reporting standards
• Conduct internal audits or third-party assurance (recommended)

Verification enhances report credibility.

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Step 7: Prepare the Sustainability Report

Draft the report including:

• Company overview
• ESG strategy & governance
• Framework-specific disclosures
• Performance metrics & targets
• Policies and initiatives

For India, follow SEBI-prescribed BRSR format.

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Step 8: Obtain Board Approval

Before filing:

• Present the report to senior management
• Obtain Board of Directors’ approval
• Document approvals in meeting minutes

This step is mandatory for listed companies.

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Step 9: File / Publish the Sustainability Report

Depending on requirements:

• Upload BRSR as part of Annual Report
• File with stock exchanges (SEBI entities)
• Publish on company website
• Share with investors and stakeholders

Ensure timely submission to avoid penalties.

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Step 10: Maintain Records & Continuous Improvement

Post-filing:

• Retain supporting documents
• Track ESG performance year-on-year
• Improve disclosures and sustainability goals
• Prepare for future audits or inspections

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Penalties for Non-Compliance (India – BRSR)

• Regulatory scrutiny by SEBI
• Penalties under listing regulations
• Reputational and investor trust impact

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Benefits of Sustainability Reporting

• Regulatory compliance
• Improved investor confidence
• Enhanced brand reputation
• Better risk management
• Access to ESG funding
• Long-term business sustainability

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Conclusion

Sustainability reporting is no longer optional—it is a strategic and regulatory necessity. By following a step-by-step approach, organizations can ensure accurate, transparent, and compliant ESG disclosures while strengthening stakeholder trust.

SavingMantra supports businesses with BRSR filing, ESG framework selection, data structuring, report drafting, and end-to-end sustainability compliance.

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Disclaimer

This blog is intended for general informational purposes only and does not constitute legal, financial, or professional advice. Sustainability reporting requirements, ESG standards, and regulatory frameworks may change over time. Readers are advised to consult qualified professionals or regulatory authorities before filing sustainability reports. SavingMantra is not responsible for any actions taken based on this information.

Step 1: Identify the Applicable DTAA Treaty

• Check whether India has a DTAA with the relevant country
• Review the specific article applicable to the income type:
  • Salary
  • Interest
  • Dividend
  • Royalty
  • Capital gains
  • Business income

Each article specifies taxing rights and rates.

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Step 2: Determine Tax Residency Status

Confirm your tax residency for the relevant financial year:

• Resident in India – Worldwide income taxable in India
• Non-Resident / RNOR – Limited income taxable in India

Residency is determined under the Income Tax Act, 1961.

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Step 3: Obtain Tax Residency Certificate (TRC)

A Tax Residency Certificate (TRC) is mandatory for claiming DTAA benefits.

For Indian Residents

• Apply through the Income Tax portal
• TRC is issued by the Indian tax authorities

For Non-Residents

• Obtain TRC from the tax authority of your home country

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Step 4: Fill and Submit Form 10F

Form 10F is required if TRC does not contain all prescribed details.

Details include:

• Nationality
• Tax Identification Number
• Residential status
• Period of residency
• Address

Form 10F must be filed online on the Income Tax portal.

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Step 5: Collect Supporting Documents

Keep the following documents ready:

• Tax Residency Certificate (TRC)
• Form 10F acknowledgment
• Copy of passport (for individuals)
• Income details & nature of income
• Tax payment proof in foreign country
• DTAA article reference
• Bank & income statements

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Step 6: Apply DTAA Benefit While Filing Income Tax Return

While filing the Income Tax Return (ITR):

• Disclose foreign income in relevant schedules
• Claim relief under Section 90 or 90A
• Mention DTAA country, article, and tax paid
• Upload foreign tax payment proof (if applicable)

Ensure accurate disclosure to avoid scrutiny.

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Step 7: Claim Foreign Tax Credit (FTC)

If tax is paid in a foreign country:

• File Form 67 before filing ITR
• Upload proof of foreign tax paid
• Claim credit against Indian tax liability

Failure to file Form 67 may result in denial of FTC.

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Step 8: Respond to Notices (If Any)

The Income Tax Department may:

• Seek clarification
• Ask for documents
• Request DTAA justification

Timely response is essential to avoid rejection.

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Common DTAA Mistakes to Avoid

• Not obtaining TRC
• Missing Form 10F filing
• Incorrect article selection
• Non-disclosure of foreign income
• Delayed filing of Form 67

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Conclusion

DTAA benefits help taxpayers legally avoid double taxation on cross-border income. Proper identification of treaty provisions, timely documentation, and accurate filing ensure smooth acceptance of DTAA claims.

SavingMantra assists individuals and businesses with DTAA analysis, Form 10F filing, TRC support, foreign tax credit claims, and end-to-end compliance.

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Disclaimer

This content is for general informational purposes only and does not constitute tax or legal advice. DTAA provisions, tax laws, and filing procedures are subject to change. Readers are advised to consult a qualified tax professional before claiming DTAA benefits. SavingMantra is not responsible for any actions taken based on this information.

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Step-by-Step Process for Provident Fund Return Filing – Monthly

Step 1: Collect Salary & Attendance Data

Prepare employee-wise monthly payroll details:

• Basic salary + DA
• Attendance & leave records
• New joiners and exit employees
• UAN details of all employees

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Step 2: Calculate PF Contributions

PF contribution is calculated as:

Contribution	Percentage
Employee PF	12% of Basic + DA
Employer PF	12% of Basic + DA

Breakup of Employer Contribution:

• EPF: 3.67%
• EPS: 8.33% (subject to wage ceiling)

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Step 3: Login to EPFO Unified Portal

• Visit EPFO Unified Employer Portal
• Login using:
  • Establishment ID
  • Username & Password

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Step 4: Prepare Electronic Challan cum Return (ECR)

• Upload employee-wise PF data in ECR format
• Ensure correct:
  • UAN numbers
  • Gross wages
  • EPF & EPS amounts
• Validate data before submission

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Step 5: Generate PF Challan

After successful ECR upload:

• System auto-generates PF challan
• Review contribution summary
• Confirm payment amount

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Step 6: Make PF Payment Online

Pay PF dues through:

• Net Banking (authorized banks only)

Once paid:

• Challan is auto-linked to ECR
• Payment receipt generated

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Step 7: Confirm PF Return Filing Status

• Download payment receipt
• Check filing status on EPFO portal
• Ensure no pending or rejected ECRs

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Documents Required for Monthly PF Filing

• Salary register
• Attendance records
• UAN list of employees
• Bank details
• Establishment login credentials

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Penalty for Late PF Return Filing

Delay Period	Penalty
Up to 2 months	5% p.a.
2–4 months	10% p.a.
4–6 months	15% p.a.
Above 6 months	25% p.a. + prosecution

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Benefits of Timely PF Return Filing

• Avoids interest & penalties
• Ensures employee trust
• Maintains statutory compliance
• Smooth inspections & audits
• Proper PF credit to employee accounts

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How Saving Mantra Helps

Saving Mantra provides end-to-end PF compliance services, including:

• Monthly PF calculation
• ECR preparation & filing
• PF challan payment support
• Error rectification & notices handling
• EPFO inspection & audit support

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Frequently Asked Questions (FAQs)

Q1. Is PF return filing mandatory even if no salary is paid?
Yes, NIL return must be filed if the establishment is active.

Q2. Can PF returns be revised after filing?
Yes, revised ECR can be filed for correction with proper justification.

Q3. Is PF return filing required for contractual employees?
Yes, if they are eligible under EPF rules.

Q4. What happens if PF payment is made but ECR is not filed?
Payment without ECR is considered incomplete compliance and may attract penalties.

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Disclaimer

This article is for informational purposes only and does not constitute legal or professional advice. PF laws and procedures are subject to change as per EPFO notifications. For accurate compliance and case-specific guidance, consult Saving Mantra experts.

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Step 1: Identify the FEMA Regulation Applicable

First, determine which FEMA regulation applies, such as:

• FEMA (Non-Debt Instruments) Rules, 2019
• FEMA (Debt Instruments) Rules, 2019
• FEMA (Acquisition & Transfer of Immovable Property) Regulations
• FEMA (Transfer or Issue of Security by a Person Resident Outside India) Regulations

Correct identification is critical, as approval authority and documentation depend on this.

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Step 2: Confirm Whether Automatic Route Is Not Available

Before applying:

• Check if the transaction exceeds sectoral caps
• Verify pricing/valuation non-compliance
• Identify prohibited or conditional activities
• Confirm if RBI approval is explicitly required

Only transactions not eligible under automatic route require prior permission.

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Step 3: Prepare a Detailed Application Note

Draft a comprehensive justification note, covering:

• Nature of transaction
• Parties involved (Resident / NRI / OCB)
• Amount and mode of payment
• FEMA provisions under which approval is sought
• Commercial rationale for the transaction
• Confirmation of compliance with other laws (Companies Act, Income Tax Act, etc.)

This note is the foundation of the RBI application.

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Step 4: Collect Required Documents

Common documents include:

Applicant & Party Documents

• PAN of resident entity
• Passport & NRI status proof
• Incorporation documents (Company/LLP)
• Board resolution approving the transaction

Transaction Documents

• Share purchase/transfer agreement
• Valuation report (from CA / Merchant Banker)
• Payment details & source of funds
• Existing shareholding pattern

Compliance Declarations

• FEMA compliance declaration
• KYC report (from AD Bank)
• Undertaking for post-approval reporting

Documents vary depending on transaction type.

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Step 5: Approach Authorized Dealer (AD) Bank

RBI does not accept direct applications in most cases.

Steps include:

• Submit application and documents to your Authorized Dealer (AD Category-I Bank)
• AD Bank reviews FEMA compliance
• Bank forwards the application to RBI with recommendations

Your bank acts as the official intermediary.

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Step 6: Filing Application with RBI (Online / Email Mode)

Depending on the transaction, the AD Bank files:

• Online via FIRMS / RBI portal (where applicable)
• Email-based submission to the RBI Foreign Exchange Department
• Physical submission (rare legacy cases)

The application is routed to the relevant RBI Regional Office.

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Step 7: RBI Scrutiny & Clarifications

RBI may:

• Seek additional documents
• Ask for revised valuation
• Request clarifications on structure or pricing
• Ask for undertakings or compliance confirmations

Timely response is crucial to avoid rejection or delays.

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Step 8: Grant of FEMA Prior Approval

If satisfied, RBI issues:

• Written approval letter
• Specific conditions to be followed
• Time limit for executing the transaction

Approval is usually transaction-specific and time-bound.

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Step 9: Execute the Transaction

After approval:

• Complete the transaction strictly as approved
• Follow payment routing through permitted banking channels
• Ensure pricing, timelines, and structure match RBI approval

Any deviation may require fresh approval.

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Step 10: Post-Transaction FEMA Reporting

Mandatory filings include (as applicable):

• FC-TRS
• FC-GPR
• FDI Annual Return
• Property transaction reporting
• Any RBI-specified compliance submission

These filings must be completed within prescribed timelines.

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Timelines for RBI Approval

• Simple cases: 4–6 weeks
• Complex or high-value cases: 8–12 weeks or more

Delays usually occur due to incomplete documentation or non-compliance.

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Key Points to Remember

• RBI approvals are case-specific, not general
• OCB-related cases receive higher scrutiny
• Valuation and sectoral compliance are critical
• AD Bank coordination is essential
• Post-approval compliance is mandatory

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Conclusion

FEMA prior permission from RBI is a sensitive and technical process requiring precise compliance with foreign exchange laws. Proper structuring, documentation, and coordination with the AD Bank are key to securing timely approval.

Professional assistance ensures reduced risk, faster processing, and full FEMA compliance.

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Disclaimer

This content is provided for general informational purposes only and does not constitute legal or professional advice. FEMA regulations, RBI policies, and approval requirements are subject to change. Readers are advised to consult authorized professionals or their AD Bank before initiating any FEMA-regulated transaction. Saving Mantra shall not be responsible for any decisions taken based on this information.

Step-by-Step Process for Housing Society Filing

Step 1: Finalization of Accounts

• Prepare Income & Expenditure Account
• Prepare Balance Sheet as on 31st March
• Verify bank balances and member dues

Step 2: Conduct Statutory Audit

• Appoint authorized society auditor
• Complete statutory audit of accounts
• Obtain Audit Report and remarks

Step 3: Conduct Annual General Meeting (AGM)

• Issue AGM notice to members
• Present audited accounts
• Approve budget and audit report
• Record AGM minutes

Step 4: Prepare Annual Return

• Compile society details
• Update managing committee information
• Prepare member list and financial summary

Step 5: File Returns with Registrar (RCS)

• Upload annual return online (where applicable)
• Submit audit report and financial statements
• File required statutory forms

Step 6: Payment of Statutory Fees

• Pay filing fees or penalties (if any)
• Preserve challan/receipt

Step 7: Record Maintenance

• Maintain copies of filed returns
• Keep records ready for inspection or future reference

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Due Date for Housing Society Filing

• Annual filing is generally required within prescribed time after AGM
• Audit must usually be completed before AGM
• Delay may attract penalties and notices from RCS

(Due dates may vary slightly by state.)

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Penalty for Late Housing Society Filing

Failure to comply may result in:

• Late fees and penalties
• Registrar notices
• Disqualification of managing committee
• Restrictions on society operations

Timely filing avoids unnecessary legal complications.

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Benefits of Housing Society Filing with SavingMantra

• ✔ End-to-end society compliance support
• ✔ Accurate audit & return preparation
• ✔ Timely filing with Registrar
• ✔ Expert guidance for managing committees
• ✔ Affordable and transparent pricing

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Why Choose SavingMantra?

SavingMantra specializes in society compliance and governance support. Our experienced professionals help housing societies stay compliant, transparent, and penalty-free with minimum effort.

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Frequently Asked Questions (FAQs)

Is annual filing mandatory for housing societies?

Yes. Annual filing is compulsory for all registered housing cooperative societies.

Can filing be done without an audit?

No. Statutory audit is mandatory before filing annual returns.

What if AGM is not conducted?

Non-conduct of AGM can attract penalties and regulatory action.

Does SavingMantra handle overdue filings?

Yes. We assist with backlog filings, penalty calculation, and compliance regularization.

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Conclusion

Housing Society filing is a crucial annual compliance that ensures legal standing and smooth functioning of the society. Proper filing protects managing committee members from penalties and regulatory action. With SavingMantra, housing societies get reliable, professional, and hassle-free compliance services.

Step-by-Step Process for Filing DPT-3

Step 1: Identify Reportable Amounts

• Review balance sheet as on 31st March
• Identify deposits and amounts not considered deposits
• Segregate exempted deposits category-wise

Step 2: Obtain Auditor’s Certificate

• Get certificate from statutory auditor
• Certificate must validate outstanding amounts

Step 3: Prepare DPT-3 Form

• Enter company details
• Select type of return:
  • One-time return
  • Annual return of deposits
  • Return of particulars of exempted deposits

Step 4: Enter Financial Details

• Report outstanding loan/deposit figures
• Classify amounts accurately under applicable heads

Step 5: Attach Required Documents

• Auditor’s Certificate
• Balance Sheet (if applicable)
• Other supporting documents

Step 6: Digital Signature & Verification

• Form to be digitally signed by Director
• Certification by Chartered Accountant / Company Secretary / Cost Accountant

Step 7: Submit Form on MCA Portal

• Upload Form DPT-3 on MCA portal
• Pay applicable government fees
• Generate SRN and acknowledgment

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Penalty for Non-Filing or Late Filing of DPT-3

Failure to file Form DPT-3 can attract:

• Penalty up to ₹5,000
• Additional ₹500 per day of default
• Maximum penalty up to ₹10,00,000
• Risk of MCA notices and scrutiny

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Benefits of Filing DPT-3 with SavingMantra

• ✔ Accurate classification of deposits
• ✔ Expert review of balance sheet data
• ✔ Timely filing before due date
• ✔ End-to-end compliance support
• ✔ Affordable professional fees

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Why Choose SavingMantra?

SavingMantra provides reliable corporate compliance solutions backed by experienced professionals. We ensure that your DPT-3 filing is error-free, timely, and fully compliant with MCA regulations.

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Frequently Asked Questions (FAQs)

Is DPT-3 mandatory for companies with no deposits?

Yes. Companies must file DPT-3 even if they have only exempted deposits or loans.

Is Auditor’s Certificate mandatory for DPT-3?

Yes. Auditor’s Certificate is compulsory for filing DPT-3.

Can DPT-3 be revised after filing?

No. DPT-3 cannot be revised once filed, hence accuracy is critical.

Is DPT-3 applicable to OPC?

Yes. One Person Companies are also required to file DPT-3.

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Conclusion

Form DPT-3 filing is a mandatory annual compliance that cannot be ignored. Accurate disclosure of deposits and exempted amounts helps companies stay compliant and avoid penalties. With SavingMantra, you get professional, timely, and hassle-free DPT-3 filing services.