Let’s face it—you didn’t start a business to become an expert in GST, TDS, or MCA deadlines. But as a founder, you are responsible for them. And in today’s regulatory landscape, one missed return or ignored notice can snowball into tens of thousands in penalties, interest, or worse—a frozen bank account.

Here’s the good news: you don’t need to be a finance nerd to stay compliant. You just need the right checklist, the right mindset, and (sometimes) the right partner.

Let’s break this down.

Why Compliance Matters (Even If You’re Small)

You might think, “We’re just a startup, why would the government care?”
Here’s why:

• Penalties don’t scale down with your revenue. A ₹5 crore business and a ₹5 lakh business can face the same ₹10,000 penalty.

• Non-compliance kills trust. Investors, banks, and even vendors are starting to check financial hygiene before committing.

• Once you fall behind, catching up is a nightmare. The longer you wait, the more the penalties and notices pile up.

That’s why we created this business compliance checklist for lazy founders—simple, actionable, and built for people who hate red tape.

GST Compliance (Monthly/Quarterly)

Key Forms: GSTR-1, GSTR-3B, GSTR-9 (Annual)

Even if you’re not earning big, if you have a GST number, you must file. And no, “I didn’t have any sales this month” isn’t an excuse to skip.

• Deadlines:

  • GSTR-1: 11th of the month

  • GSTR-3B: 20th or 22nd depending on your state

  • GSTR-9: Annually by Dec 31

• Penalty if missed: ₹50/day (₹25 CGST + ₹25 SGST), capped at ₹10,000 per return

Lazy Tip: Automate GST filings with a CA or accounting software. You only need to reconcile once a month.

TDS Payments & Quarterly Returns

What is TDS? Tax Deducted at Source, applicable on salaries, contractor payments, rent, etc.

• TDS Payment Due: 7th of every following month

• Quarterly Return Filing:

  • Q1: Jul 31 | Q2: Oct 31 | Q3: Jan 31 | Q4: May 31

• Penalty if missed: ₹200 per day under Section 234E, and interest up to 1.5%/month

Lazy Tip: If your accountant isn’t reminding you of this, switch. A single missed return = thousands in interest + late fees.

Advance Tax Payments

Applicable if your total tax liability exceeds ₹10,000/year. Freelancers, consultants, and small business owners often forget this.

• Deadlines:

  • 15 June – 15%

  • 15 Sept – 45%

  • 15 Dec – 75%

  • 15 March – 100%

• Penalty if missed: Interest under Sections 234B and 234C (1% per month)

Lazy Tip: Even salaried founders with side income should check this. An Excel sheet + a CA review quarterly is enough.

Books of Accounts & Reconciliation

Even if you aren’t ready for full-fledged auditing, your books must:

• Match your bank transactions

• Match your GST and income filings

• Track receivables/payables

Failing to reconcile = wrong tax filings + blocked ITC + wrong reporting.

Lazy Tip: Reconcile every month instead of once a year. It takes 20 minutes and saves 20 hours of pain in March.

ROC & MCA Filings (For Pvt Ltds & LLPs)

• Important Forms:

  • DIR-3 KYC

  • AOC-4 (Financials)

  • MGT-7 (Annual Return)

• Due Dates:

  • Usually between Sept–Nov (post AGM)

• Penalties: ₹100 per day, no cap

Lazy Tip: Set reminders in August to begin this process with your CA. Don’t wait until the last week.

Income Tax Filing (Salaried + Business)

Every founder—whether earning from salary, consultancy, or business—needs to file ITR by:

• Deadline: July 31 (for individuals), Oct 31 (for audit cases)

• Penalty if missed: ₹5,000 under Section 234F (₹1,000 if income < ₹5L)

Lazy Tip: Don’t wait for Form 16/26AS. Start collecting docs in June. And if you’re unsure about presumptive taxation—ask.

Bonus: 3 Common Excuses That Could Cost You Big

“My accountant handles it.”
→ But are they proactive or reactive? Have they given you a compliance calendar?

“We’re too small to be noticed.”
→ That’s exactly what most non-compliant businesses think—until the notice shows up.

“I’ll fix it at year-end.”
→ Year-end is for wrapping up, not cleaning up.

How to Stay Compliant Without Losing Your Mind

Here’s a founder-first workflow to stay on top of compliance:

1. Create a shared compliance calendar.
   Add all due dates with reminders a week before.

2. Hire a proactive CA or team.
   Not just someone who files forms, but someone who tells you what’s due next.

3. Use accounting software.
   Zoho Books, QuickBooks, or even a well-designed Excel tracker can reduce chaos.

4. Monthly 15-minute finance check-ins.
   Block time on your calendar. Review reports, cash flow, and upcoming deadlines.

5. Outsource what you hate.
   At Upyugo Global, we help you stay compliant across accounting, GST, TDS, and tax filing—so you can stay focused on growing, not Googling.

Final Thoughts

Compliance isn’t about being perfect—it’s about being consistent.

As a founder, your job isn’t to file returns. It’s to make sure they’re filed. And when you put systems in place, the “lazy” approach becomes the smart one.

Avoid the ₹50,000 surprises. Build a checklist. Stick to it. Or let someone do it for you.