The Ministry of Corporate Affairs (MCA) recently reported a positive trend in business compliance. Between April 1 and October 27, 2024, over 6.17 lakh annual returns were filed—3.7% more than the 5.95 lakh filed during the same period in 2023. This increase shows that more businesses recognize the importance of timely compliance.

Why Should Businesses File Annual Returns?

Filing annual returns is essential for financial health and growth. Here’s why:

• Builds Trust: On-time filings enhance transparency, attracting potential investors. Consistent filings can increase funding opportunities by 10-20% due to improved credibility.
• Avoids Penalties: Late filings incur daily fines (e.g., ₹100 per day). A 30-day delay costs ₹3,000—and with multiple filings, this can reach tens of thousands of rupees annually.
• Tracks Growth: Annual returns provide a record of financial performance, helping businesses monitor revenue growth (e.g., 15% annually) and make informed decisions.

Why Choose EasiTax?

EasiTax streamlines the filing process, saving you time and money:

• Expert Guidance: EasiTax reduces the risk of errors, helping businesses avoid costly penalties.
• Time Savings: With compliance handled, you can focus on growing your business.
• Peace of Mind: Accurate, timely filings mean you stay penalty-free and stress-free year-round.

With professional help, businesses can stay compliant effortlessly, focusing on growth without the hassle of filings.