
	Home About Us Team Services Audit & Assurance Direct Taxes Indirect Taxes Statutory Compliances Project Finance Bookkeeping Other Consultancy Services Registration Clientele Professional Services Financial Services Telecommunications Real Estate & Construction Pharmacology Industry Manufacturing industry Blogs Knowledge Bank Calculators GST MRP Calculator GST Rate Calculator GST Calculator Tax Calculator TDS Calculator Calculate Net Profit Calculate Net Worth Effective Capital HRA NSC EMI Auto Loan Calculator Home Loan Calculator Get No. Of Installment RERA Calculator Developers Calculator Home Buyer Delay Interest Home Buyer Refund Bulletins RBI SEBI Notification Circular Income Tax Service Tax Central Sales Tax Excise Matters Customs Company Law Labour Laws FEMA The LLP Act 2008 Accounting Standard (INDAS) Others GST VAT Delhi VAT Maharastra VAT Gujarat VAT Telangana VAT Tamil Nadu VAT IGST UTGST Compensation Cess IBC Regulation Utilities Rates of TDS TDS Rates for N.R.I us 195 Rates of Income Tax Depreciation Rates Companies Act Depreciation Rates Income Tax Act ROC Filing Fees (Cos Act, 2013) ROC Fee Structure (Cos Act, 2013) Cost Inflation Index IFSC Codes MICR Codes Rates of NSC Interest Gold and Silver Rates Rates of Stamp Duty LLP Fees National Industries Classification HSN Rate List Deduction u/s 80TTA Vs 80TTB Links Quick Links Important Links GST/VAT Links Ease Of Doing Business Acts Direct Tax Income Tax Act Wealth Tax Act Income Declaration Scheme 2016 Income Tax 2025 Indirect Tax Service Tax(Finance Act, 1994) Central Sales Tax Act, 1956 The Central Excise Act, 1944 Customs Act, 1962 Entry Tax Act Corporate Laws Companies Act, 2013 Companies Act, 1956 LLP ACT SEBI Act, 1992 VAT Laws Delhi Value Added Tax Act, 2004 MVAT Act, 2002 West Bengal VAT Act, 2003 Tamilnadu VAT ACT, 2006 Karnataka Value Added Tax Act, 2003 Gujarat Value Added Tax Act, 2003 UP VAT Act, 2008 Rajasthan Value Added Tax Act, 2003 Punjab Value Added Tax Act Haryana Value Added Tax Act Telangana VAT Act 2005 Andhra Pradesh VAT Act, 2005 Bihar Value Added Tax Act, 2005 Other Statutes ESI Act, 1948 PF Act, 1952 Profession Tax Act The Indian Partnership Act, 1932 Societies Registration Act, 1860 Competition Act, 2002 Reserve Bank of India Act, 1934 MRTP Act, 1969 Equalisation Levy Act, 2016 Right To Information Act, 2005 FEMA, 1999 Maharashtra RERA RERA, 2016 Insolvency & Bankruptcy Code, 2016 Benami Property Act 1988 GST Laws IGST Act , 2017 CGST Tax Act, 2017 UTGST Act, 2017 GST (Compensation to States) Act Rules Direct Tax Rules Income Tax Rules Wealth Tax Rules 1957 Income Declaration Scheme Rules 2016 Indirect Tax Rules GST Valuation Rules , 2016 Service Tax Rules CST (Delhi) Rules, 2005 CST (Maharashtra) Rules Customs Valuation Rules Cenvat Credit Rules, 2017 Entry Tax Rules Corporate Laws Rules Companies Rules, 2014 LLP Rules, 2009 LLP Winding up Rules, 2012 Cos Unpaid Dividend Rules, 1978 VAT Laws Rules Delhi VAT Rules, 2005 Maharashtra VAT Rules, 2005 West Bengal VAT Rules, 2005 Tamilnadu VAT Rules, 2007 Karnataka VAT Rules, 2005 Gujarat VAT Rules, 2006 Uttar Pradesh VAT Rules, 2008 Rajasthan VAT Rules, 2006 Punjab VAT Rules Haryana VAT Rules, 2003 Telangana VAT Rules 2005 Andhra Pradesh VAT Rules, 2005 Bihar Value Added Tax Rules, 2005 Other Statutes Profession Tax Rules NBFC Deposits Directions, 1998 NBFC & Misc NBC (Advt) Rules, 1977 NBFC Auditor Report Directions, 2008 Delhi Labour Welfare Fund Rules, 1997 Cost records and audit Rules, 2014 Baggage Rules, 2016 Equalisation Levy Rules, 2016 NCLT And NCLAT Rules Insolvency & Bankruptcy Rules Benami Property Rules, 2016 GST Rules CGST Rules, 2017 IGST Rules 2017 Forms Income Tax Forms ROC Forms (Cos Act, 2013) ROC Forms (Cos Act, 1956) Income Declaration Forms Wealth Tax Forms Service Tax Forms Companies Unpaid Dividend Forms NBFCs Forms LLP Winding up FEMA Forms LLP Forms CGST Forms GST Forms Accounts and Records Advance Ruling Appeals and Revision Assessment and Audit Composition Demands and Recovery Input Tax Credit Inspection, Search and Seizure Offences and Penalties Payment of Tax Refund Registration Returns Transitional Provisions Value of Supply Careers Admin Login Email Login Web-EDGE Contact Us

Services

Navigating Statutory Compliances in India

Ensuring adherence to legal obligations is crucial for businesses in India. Discover how to stay compliant and thrive.

Contact Us

Understanding Statutory Compliance

In India's dynamic corporate and regulatory landscape, strict adherence to statutory laws and compliance requirements is vital for businesses of all sizes and sectors. Statutory Compliances encompass a range of legal obligations that organisations must fulfil as prescribed by various regulatory authorities.

Statutory Compliance refers to the legal framework within which a company must operate, covering rules, regulations, and guidelines mandated by the government, regulatory bodies, and industry-specific authorities. These compliances govern various aspects of a business, including taxation, labour laws, financial reporting, corporate governance, and operational regulations.

In India, statutory compliances extend across Central, State, and local laws, making it imperative for businesses to stay updated with the latest regulatory requirements. Failure to comply can result in penalties, legal consequences, and reputational risks.

Why Statutory Compliance Matters

Legal Safeguard

Operate within the legal framework, avoiding penalties, notices, and litigation

Good Corporate Governance

Promote transparency, ethical business conduct, and accountability to stakeholders.

Financial Discipline

Encourage accurate financial reporting and adherence to tax regulations.

Business Credibility

Enhance reputation among investors, clients, financial institutions, and regulatory bodies.

Operational Continuity

Prevent business disruptions by ensuring timely renewals, filings, and submissions.

Key Statutory Compliances: Taxation

Income Tax Compliance

Advance tax payments

TDS deduction and payment

Filing of income tax returns

Statutory audits under the Income Tax Act, 1961

Goods and Services Tax (GST) Compliance

GST registration

Regular filing of returns

GST payments

Annual returns

GST audits under the GST Act

Key Statutory Compliances: Corporate & Labour

Companies Act Compliance

Maintenance of statutory records

Conducting board and shareholder meetings

Filing annual returns and financial statements

Adherence to corporate governance provisions

Labour Law Compliance

Provident Fund (PF)

Employee State Insurance (ESI)

Professional Tax

Payment of Gratuity

Minimum Wages Act

Shops & Establishment regulations

Sector-Specific Compliances

Beyond general compliances, various industries in India have their own unique regulatory requirements. Businesses must identify and adhere to these specific laws to ensure full compliance and avoid penalties.

Banking & Finance

Regulations specific to financial institutions, including RBI guidelines and SEBI norms.

Healthcare

Compliance with medical council regulations, drug control acts, and patient data privacy laws.

Manufacturing

Adherence to environmental regulations, factory acts, and industrial safety standards.

Exports & Imports

Compliance with Foreign Exchange Management Act (FEMA), SEZ regulations, and customs laws.

Food & Hospitality

Adherence to FSSAI regulations for food safety and hygiene standards.

Role of Chartered Accountants in Compliance

Chartered Accountants (CAs) play a crucial role in assisting businesses to stay compliant with statutory regulations. Their expertise ensures risk mitigation, operational efficiency, and uninterrupted business operations.

Advisory Services: Guidance on applicability and regulatory frameworks relevant to your business.
Filing & Reporting: Preparation and timely filing of statutory returns and reports.
Statutory Audits: Conducting audits under Income Tax, GST, and Companies Act provisions.
Record Maintenance: Ensuring proper maintenance of statutory records and registers.
Regulatory Representation: Representing businesses before tax and regulatory authorities.
Compliance Health Checks: Performing internal audits and health checks to ensure ongoing compliance.

Partner for Proactive Compliance

Statutory compliance is an indispensable aspect of corporate management in India, contributing to legal certainty, financial transparency, and organisational integrity. Given the ever-changing regulatory environment, businesses must adopt a proactive approach to compliance management, supported by qualified professionals.

Partnering with an experienced Chartered Accountant firm ensures that your business not only stays compliant but also operates with confidence and credibility in a competitive market. Don't let compliance be a burden; let it be a cornerstone of your business success.