“Every year, numerous small businesses find themselves paying substantial penalties to the government for late filing of various statutory returns, amounting to lakhs. These Penalties and Late Fee’s on Compliance, unfortunately, are not tax-deductible and can significantly impact a business’s bottom line. At EYC International, our primary goal is to provide affordable services to our customers and help them steer clear of these costly penalties. To achieve this, we have invested in cutting-edge enterprise-grade technology that delivers proactive alerts about upcoming compliance requirements, enabling businesses to avoid penalties altogether. Our comprehensive compliance services cover a wide range of needs. We encourage you to explore these services, engage with our expert advisors, and put an end to unnecessary late fees.”

Penalty and Late Fee on Compliance

Penalty and Late Fee on Compliance

Fines and Penalties for Late Annual Compliance in India

In India, failing to comply with annual compliance requirements can lead to fines and penalties for various entities. These penalties are enforced to ensure timely adherence to legal and regulatory obligations. Here’s an overview of the fines and penalties applicable to different entities for late annual compliance:

Private Limited Company

  1. Annual Return (Form MGT-7) and Financial Statements (Form AOC-4):
    • Late Filing Penalty: The penalty for late filing is substantial and accrues on a daily basis.
    • Additional Fees: Additional fees apply based on the duration of delay.
  2. Income Tax Return (ITR):
    • Late Filing Penalty: A penalty of Rs. 100 per day of delay under Section 234F, up to Rs. 10,000, depending on the delay.
  3. GST Return (GSTR-3B and GSTR-9):
    • Late Filing Penalty: Rs. 50 per day of delay (Rs. 20 for nil return), subject to a maximum of Rs. 5,000.
  4. TDS Return (Form 24Q, 26Q, 27Q, etc.):
    • Late Filing Penalty: A penalty of Rs. 200 per day of delay under Section 234E, limited to the amount of TDS.

Limited Liability Partnership (LLP)

  1. Annual Return (Form 11):
    • Late Filing Penalty: Rs. 100 per day of delay.
  2. Income Tax Return (ITR-5):
    • Late Filing Penalty: Similar to private limited companies under Section 234F.
  3. GST Return (GSTR-8, if applicable):
    • Late Filing Penalty: Similar to private limited companies.
  4. TDS Return (Form 26Q, 27Q, etc.):
    • Late Filing Penalty: Similar to private limited companies under Section 234E.

Sole Proprietorship/Individuals

  1. Income Tax Return (ITR):
    • Late Filing Penalty: Similar to private limited companies under Section 234F.
  2. GST Return (GSTR-1, GSTR-3B):
    • Late Filing Penalty: Similar to private limited companies.
  3. TDS Return (Form 26QB, 26Q, etc.):
    • Late Filing Penalty: Similar to private limited companies under Section 234E.

Penalty and Late Fee on Compliance

How EYC International Can Help

Penalty and Late Fee on Compliance

EYC International specializes in ensuring timely and accurate compliance for all types of entities in India. Here’s how we can assist:

  1. Comprehensive Compliance Services:
    • We offer end-to-end compliance services, including annual return filings, financial statement submissions, income tax returns, GST returns, and TDS returns for private limited companies, LLPs, sole proprietorships, and individuals.
  2. Timely Reminders and Notifications:
    • Our automated systems ensure that you receive timely reminders and notifications well in advance of compliance deadlines. This helps you avoid late filing penalties.
  3. Expert Guidance and Support:
    • Our team of experienced professionals provides expert guidance on regulatory changes and compliance requirements specific to your entity type. We ensure that all filings are done correctly and on time.
  4. Penalty Mitigation Strategies:
    • In cases where late filings have occurred, we assist in mitigating penalties by filing appeals, if applicable, and by taking proactive steps to rectify compliance errors.
  5. Technology-driven Solutions:
    • Utilizing advanced technology, we streamline the entire compliance process, making it efficient and hassle-free for our clients. Our online platform allows for secure document sharing and real-time tracking of compliance status.
  6. Customized Compliance Plans:
    • We tailor our services to meet the unique needs of each client, ensuring that compliance efforts are aligned with business objectives and regulatory requirements.

Partner with EYC International for Seamless Compliance

Don’t let late filings lead to unnecessary fines and penalties. Partner with EYC International to ensure your entity’s annual compliance obligations are met promptly and accurately. Focus on growing your business while we handle the complexities of regulatory compliance, safeguarding your financial health and legal standing in India. Contact us today to get started!

Our Services:Penalty and Late Fee on Compliance

Startup India Registration ₹4999/-
GST Registration ₹999/- 
APEDA Registration ₹1199/-
12A and 80G Registration ₹11999/-
PT (Professional Tax) Registration ₹1199/-
GEM (Government e-Marketplace) Registration ₹999/-
Udyam (MSME) Registration ₹499/-
NSIC (National Small Industries Corporation) Registration ₹2999/-
IEM (Industrial Entrepreneurs Memorandum) Registration ₹2999/-
IEC (Import Export Code) Registration ₹999/-
Preparation and filing of GST returns ₹4999/- For 12 Months
PF (Provident Fund) & ESIC (Employees’ State Insurance Corporation) Registration ₹1999/-
Food License ( FSSAI Registration) ₹1199/-
Trade Marks Registration ₹4999/-
MOA and AOA Amendments ₹2999/-
Adding or Removal of Directors ₹2499/-
GST (Letter of Undertaking) LUT Registration ₹1199/-
e-Anudaan (Grants-In-Aids To NGOS) ₹1199/-
CSR-01 Form (To get CSR funding). ₹2499/-
NGO DARPAN Registration (maintained by NITI Aayog) ₹2499/-
Digital Signature (Class-3) For 2 Years. ₹999/-
ISO 9001:2015 Quality management systems ₹2999/- For Three Years
CE REGISTRATION (Conformite Europeenne, conformity with European health, safety, and environmental protection standards on commercial products). ₹ 9999/- For Three Years

Other Services: Penalty and Late Fee on Compliance

Private Limited Company Registration ₹7999/-
Limited Liability Partnership – (LLP) ₹8999/-
Annual Compliances Filing with ROC  ₹15999/-
Startup India Registration  ₹4999/-
Certificate and other Licenses  ₹999/- Start From
ISO Certification  ₹999/- Start from
Trade Mark Registration ₹4999/- 
Patent Filling  ₹1,999/- Start From
Copyright ₹11999/- Start From
Search Engine Optimization  ₹4999/- Start From
Content Marketing ₹ 4999/- Depending on projects 
Link Building ₹99/- Start From
Social Media Marketing  The per month package starts from – Basic ₹11,999/-/- Advanced for ₹29,999/-/- and Enterprise for ₹39,999/- ₹11999/- 
Brand Strategy ₹49,999/-
Pay Per Click – The per month package starts from – Basic ₹10,000/- Advanced for ₹20,000/- and Enterprise for ₹30,000/- ₹9,999/-
Penalty and Late Fee on Compliance
Remember, this is a long-term process. The fees mentioned are just given for an idea.

Patent Filling

#The cost of filing a patent depends on the type of applicant and the stage of the patent process. The standard filing fee for different entities is ₹1,999 for individuals, startups, MSMEs, and educational institutions, and ₹9,999 for large entities. The patent office also charges additional fees for early publication, examination requests, extra sheets, and extra claims. 
  • Novelty search: ₹12,000–₹15,000
  • Patent drafting: ₹30,000–₹35,000
  • Professional services: ₹1,000–₹5,000

Content Marketing

# The cost of content marketing in India can range from a few thousand rupees to several lakhs per month, depending on the project’s complexity and the level of expertise required. Here are some average costs for different content marketing components:
  • Content strategy: ₹10,000–₹25,000 (one time)
  • Content creation: ₹15,000–₹50,000 per month
  • Graphic design: ₹5,000–₹20,000 per month
  • Tools like plagiarism checkers and Grammarly: ₹2,000–₹10,000 per month
  • Promotion on social media and PPC: ₹10,000–₹30,000 per month
  • A basic social media management package might cost ₹15,000–₹30,000, while a full-fledged SEO and content marketing strategy could cost ₹30,000–₹50,000 per month.

Social media marketing

#Social media marketing (SMM) in India can cost between INR 10,000–50,000 or more per month, depending on several factors:
  • Platforms managed
  • Frequency of posting
  • Additional services
  • Scope of the project
  • Level of expertise required
  • Services included
SMM packages typically include services like:

strategy development, content creation, community management, social media advertising, analytics tracking, and reporting. 

Here are some examples of SMM package prices:
  • INR 12,000 per month for small businesses, INR 24,000 per month for advanced businesses, and INR 35,000 per month for enterprise businesses. 

Business Branding

#A basic branding package starts from ₹50,000 and ₹2,00,000 or more. This may include services like Logo design,  Website development, and initial marketing materials.
#Big branding Package Starts ₹10,00,000–₹50,00,000, which may include strategy and global brand identity

Link Building

#Link-building costs can vary widely depending on the quality and volume of links, as well as the industry. In 2024, link building prices can range from₹10000/- per month, or ₹10000–₹1,5000/- per link. Medium-quality links from a website with a Domain Rating of 50 to 70 might cost around ₹25,000.00

Average prices per link range from ₹99/- to ₹999/- for the low end ₹1,999–₹49,999/- for the medium end, and ₹59,999/- to ₹1,99,999/- for the high end.

Pay per click

#The cost of pay-per-click (PPC) range starts from ₹10,000/-to ₹1,000,000/- per month. The cost can include agency management fees and advertising budgets. For example,

We are always available to answer your queries that may arise. 

Feel free to revert to us whenever you require any assistance by Calling, WhatsApp, or Email.

Penalty and Late Fee on Compliance