March 31 is not just the last day of the financial year — it is the beginning of a critical 6-month compliance window that determines whether your company meets all statutory obligations on time, or faces penalties, interest, and regulatory action. Whether you run a Private Limited Company or a Public Limited Company, the closing of FY 2025–26 triggers a defined set of actions under the Companies Act 2013, GST law, Income Tax Act, and various labour statutes.
This checklist is designed to be used alongside your CA. Print it, share it with your finance team, and tick off each item as it is completed.
Section 01
Accounts Finalisation & Book Closure
The foundation of all year-end compliance. All other statutory filings depend on accurate, finalised accounts. This must be completed before your auditors begin their work.
Accounts Finalisation Checklist
Complete before March 31 or immediately after
Both Companies
Reconcile all bank accounts with bank statements as on March 31
Ensure outstanding cheques, deposits in transit, and bank charges are accounted for
Complete physical stock / inventory count and valuation
Stock to be valued at cost or NRV, whichever is lower (AS 2 / Ind AS 2)
Obtain balance confirmation from all debtors, creditors, loans, and advances
Send confirmations by March 15; reconcile differences before closing
Calculate and book depreciation on all fixed assets
As per Companies Act 2013 Schedule II and Income Tax Act rates where applicable
Provision for all outstanding expenses and advance income adjustments
Salary, rent, electricity, professional fees payable as of March 31
Review and write off bad debts if irrecoverable; create provision for doubtful debts
Ensure write-off is approved by Board and documented before audit
Capitalise all capital WIP that is ready for use before March 31
Transfer from CWIP to fixed assets to correctly compute depreciation
Reconcile GST liability in books with GSTR-3B filings for all 12 months
Differences must be explained or corrected before the annual return
Reconcile TDS deducted in books with Form 26AS / AIS
Ensure all TDS deducted reflects in the department records correctly
Prepare draft P&L, Balance Sheet, Cash Flow Statement, and Notes to Accounts
In format prescribed by Schedule III of Companies Act 2013
Section 02
GST Year-End Compliance
GST has its own year-end obligations that extend well beyond March 31. Several reconciliations and annual returns have deadlines running up to December of the following year.
GST Checklist
March 31 onwards
Both Companies
File GSTR-3B for March 2026 on time (April 20/22/24 based on state)
Do not delay — interest at 18% p.a. applies from the due date
File GSTR-1 for March 2026 — all outward supply invoices
Monthly filers: Apr 11; Quarterly filers: Apr 30
Reconcile GSTR-2A / 2B with purchase register — claim all eligible ITC
ITC for FY 2025-26 invoices must be claimed by November 30, 2026 (GSTR-3B)
Reverse ineligible ITC — rule 42/43 (common inputs), section 17(5) blocked credits
Reversal must be made in annual return or GSTR-3B of September 2026
File GSTR-9 (Annual Return) for FY 2025-26
Due December 31, 2026. Turnover above ₹2 crore — mandatory. Below ₹2 crore — optional but recommended
File GSTR-9C (Reconciliation Statement / Self-Certified) if turnover exceeds ₹5 crore
Auditor certification not required since FY 2020-21 — self-certified by taxpayer
Check and pay any GST on advances received but not yet invoiced as of March 31
Advances for services are taxable at the time of receipt
Review GST registration — ensure all business places are covered under Additional Place of Business
Unregistered locations can attract GST department notices
Note on E-Invoicing: If your aggregate turnover exceeded ₹5 crore in any preceding financial year, e-invoicing is mandatory for all B2B supplies. Ensure your billing software is integrated with the IRP portal before April 1, 2026.
Section 03
TDS / TCS — Deduction, Payment & Returns
TDS compliance has the most frequent penalty exposure of any year-end obligation. Late deduction, late payment, or incorrect returns all attract interest and penalties under sections 201, 234E, and 271C.
TDS / TCS Checklist
Q4 (January – March 2026)
Both Companies
Deduct TDS on all March salary payments before disbursement
Final salary TDS to account for full year tax computation — Section 192
Deduct TDS on all year-end provisions — professional fees, rent, contractor payments
TDS must be deducted at the time of credit to the account, even if not yet paid
Deposit TDS for March 2026 by April 30, 2026 (extended deadline for March)
For all other months, deposit by 7th of following month. Interest: 1.5% per month for late deposit
File Q4 TDS Returns — Form 24Q (Salary), 26Q (Non-Salary), 27Q (Foreign), 27EQ (TCS)
Due May 31, 2026 for Q4. Late filing fee: ₹200 per day under Section 234E
Issue Form 16 to all employees for FY 2025-26
Mandatory by June 15, 2026. Non-issue attracts penalty under Section 272A(2)
Issue Form 16A to all deductees (vendors, contractors, etc.) for Q4
Due within 15 days of TDS return filing — approximately June 15
Reconcile TDS deducted in books vs TDS deposited challans for all 4 quarters
Differences may cause 26AS mismatches affecting vendor ITR filings — creates disputes
Check lower TDS deduction certificates (Form 13) validity — renew if expired
Certificates issued for FY 2025-26 expire on March 31. Apply fresh for FY 2026-27
Section 04
Statutory Audit Preparation
Every company incorporated under the Companies Act 2013 must have its accounts audited by a Chartered Accountant. The audit must be completed before the Board Meeting that approves the financial statements.
Audit Readiness Checklist
Prepare before engaging auditors
Both Companies
Confirm statutory auditor appointment / reappointment is in order
Auditor must be appointed at AGM for a 5-year term. Ensure Form ADT-1 was filed with ROC
Prepare complete trial balance, schedules, and all ledger print-outs as of March 31
Hard or soft copy — as per auditor's preference
Compile all board minutes, shareholder resolutions, and statutory registers
Register of Members, Directors, Charges, Contracts — all must be up to date
Provide all bank statements, loan agreements, fixed deposit receipts to auditors
Include all overdraft/CC accounts with full year statements
Ensure all related party transactions are documented and disclosed
Section 188 — related party contracts must be approved by Board; disclosed in notes to accounts
Prepare Management Representation Letter for auditors
Standard requirement — confirms management's responsibility for financial statements
Tax Audit (if applicable) — turnover above ₹1 crore (business) / ₹50 lakh (profession)
Form 3CD/3CA to be submitted before income tax return. Due September 30, 2026
Secretarial Audit — mandatory for public companies and large private companies
Paid-up capital ≥ ₹10 cr OR turnover ≥ ₹250 cr — Form MR-3 by Practicing CS
Section 05
ROC Filings — Companies Act 2013
The Registrar of Companies (ROC) requires every company to file annual financial statements and annual returns after each financial year. Non-filing attracts heavy penalties under the Companies Act 2013.
ROC Filing Checklist
Post-AGM filings — due October/November 2026
Both Companies
File Form AOC-4 — Financial Statements with ROC
Due within 30 days of AGM (Oct 29 if AGM held Sep 30). Penalty: ₹100 per day after due date
File Form MGT-7 / MGT-7A — Annual Return with ROC
Due within 60 days of AGM (Nov 29 if AGM Sep 30). MGT-7A for small companies and OPCs
File Form MGT-14 — Board resolutions for approving financial statements
Within 30 days of Board meeting passing the resolution
File Form DPT-3 — Return of Deposits / Outstanding Loans
Due June 30 each year. Applies to companies with loans from directors, shareholders, or public
File Form MSME-1 — Outstanding dues to MSME vendors exceeding 45 days
Half-yearly: April 30 (Oct–Mar period) and October 31 (Apr–Sep period)
File Form BEN-2 — Significant Beneficial Ownership if applicable
Any change in beneficial ownership must be reported within 30 days
Update KYC of all directors — Form DIR-3 KYC due September 30 each year
Failure to file deactivates DIN. Fine: ₹5,000 for late filing
Section 06
Board Meetings & Annual General Meeting (AGM)
Board & AGM Checklist
Section 96, 134, 173 of Companies Act 2013
Both Companies
Hold minimum 4 Board Meetings in FY 2025-26 — gap between two meetings not exceeding 120 days
Section 173 — One meeting must be held in each quarter
Hold Board Meeting to approve Draft Financial Statements and Board's Report
Must happen before the AGM. Board signs the financials after auditor's report
Prepare Board's Report with all mandatory disclosures — Section 134
Must include: CSR report, related party disclosures, risk management, internal controls, and Directors' Responsibility Statement
Hold AGM within 6 months of year end — i.e., by September 30, 2026
First AGM within 9 months of year end. Extension possible with ROC permission
Issue AGM Notice 21 clear days in advance (or shorter with consent of 95% shareholders)
Notice must be accompanied by Annual Report — audited financials + Board's Report
Declare dividend (if any) at AGM — ensure adequate profits and compliance with Section 123
Transfer to Investor Education and Protection Fund (IEPF) if unpaid for 7 years
Section 07
Income Tax — Advance Tax, ITR & Assessments
Income Tax Checklist
FY 2025-26 / AY 2026-27
Both Companies
Pay 4th instalment of Advance Tax by March 15, 2026
100% of tax liability. Interest u/s 234B / 234C if short-paid
Review books for any Deemed Income — loan to shareholders, interest-free loans, etc.
Section 2(22)(e) — deemed dividend provisions; Section 36(1)(iii) — interest disallowance risk
Verify all deductions claimed — Section 80G donations, 80IC, 10AA (SEZ) etc. have supporting documents
Ensure 80G receipts, approval certificates, and 10A/10AA registrations are in order
File Income Tax Return — Form ITR-6 for companies
Due October 31, 2026 (without tax audit); November 30, 2026 (with transfer pricing)
Respond to any pending income tax notices / scrutiny assessments for earlier years
Check income tax portal for e-proceedings regularly — deemed service within 24 hours of upload
Check applicability of Minimum Alternate Tax (MAT) — Section 115JB
If tax payable is less than 15% of book profits, MAT applies. MAT credit can be carried forward 15 years
Section 08
Labour Law, PF, ESI & Professional Tax
Labour Compliance Checklist
Monthly + annual obligations
Both Companies
Deposit PF (Provident Fund) contributions for March by April 15, 2026
Employee + Employer share. Delay attracts interest at 12% p.a. and damages up to 25%
Deposit ESI contributions for March by April 15, 2026
Applicable if employee count ≥ 10 and salary ≤ ₹21,000/month
File Annual PF Return — Form 3A and 6A for FY 2025-26
Submit via EPFO unified portal. Ensure UAN mapping is correct for all employees
Pay and file Professional Tax returns (Tamil Nadu / state specific)
Annual return in most states — due March 31 or as per state schedule
Ensure Gratuity provision is made for eligible employees
5 years+ employees — provision to be booked annually. Actuarial valuation if required under Ind AS
Issue salary slips, Form 16, and investment proof collection for all employees
Collect investment proofs by March 10 to compute correct TDS for March salary
Section 09
Additional Obligations — Public / Listed Companies Only
Listed / Public Company Compliance
SEBI LODR 2015, Companies Act special provisions
Public / Listed Only
Submit Quarterly Financial Results (Q4) to stock exchange within 45 days — Regulation 33 LODR
Audited annual results within 60 days of year end (May 30, 2026). Board must approve before submission
Ensure Audit Committee meets to review annual financial results before board approval
Regulation 18 — Audit Committee mandatory for listed companies. Must include independent directors
File Corporate Governance Report for Q4 with stock exchange
Regulation 27 — within 21 days of quarter end. Includes board composition, committee meetings
Submit Annual Secretarial Compliance Report — Regulation 24A LODR
By Practicing Company Secretary — due May 30, 2026 (within 60 days of year end)
Ensure Business Responsibility & Sustainability Report (BRSR) is prepared — Top 1,000 listed companies
SEBI circular — mandatory BRSR disclosure as part of Annual Report
Comply with CSR spending obligations — Section 135, Companies Act
Net profit ≥ ₹5 cr / net worth ≥ ₹500 cr / turnover ≥ ₹1,000 cr — 2% of average net profits
Disclose all material events / price sensitive information on stock exchange immediately
Regulation 30 LODR — no delay permitted. UPSI to be managed under Insider Trading Code
File with SEBI — Any change in promoter shareholding, creeping acquisition, or open offer obligations
SEBI SAST Regulations 2011 — threshold triggers at 5% / 25% / 26% shareholding levels
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Section 10
Master Deadline Table — FY 2025–26
A single reference table of all key deadlines. Print this and track your company's progress.
| Due Date | Filing / Action | Applies To | Penalty for Delay |
|---|---|---|---|
| Mar 15 | 4th Advance Tax Instalment | All Companies | Interest u/s 234B/234C |
| Mar 31 | Financial Year Closes — Book all provisions, depreciation, stock count | All Companies | Incorrect financials |
| Apr 11/30 | GSTR-1 for March 2026 | All GST Registered | ₹50–₹200/day late fee |
| Apr 20–24 | GSTR-3B for March 2026 | All GST Registered | Interest 18% p.a. + late fee |
| Apr 15 | PF & ESI deposit for March | All Employers | Interest 12% p.a. + damages |
| Apr 30 | TDS deposit for March 2026; MSME-1 return | All Companies | Interest 1.5%/month; ₹25,000 penalty |
| May 30/31 | Q4 TDS Returns (24Q, 26Q); Listed company Q4 results | All / Listed | ₹200/day (TDS); SEBI action |
| Jun 15 | Form 16 / 16A to employees and deductees | All Employers | ₹100/day penalty |
| Jun 30 | DPT-3 (outstanding loans/deposits) | All Companies | ₹5,000 + ₹500/day |
| Sep 30 | AGM; Tax Audit; DIR-3 KYC; Secretarial Audit | All Companies | ₹1 lakh + ₹500/day (AGM default) |
| Oct 29 | Form AOC-4 — Financial Statements with ROC | All Companies | ₹100/day (no limit) |
| Oct 31 | Income Tax Return — Form ITR-6 | All Companies | ₹10,000 late fee + interest |
| Nov 29 | Form MGT-7 / 7A — Annual Return with ROC | All Companies | ₹100/day (no limit) |
| Dec 31 | GSTR-9 Annual Return; GSTR-9C Reconciliation | All GST Registered | ₹200/day (0.25% of turnover max) |
Important: All due dates above assume AGM is held on September 30, 2026. If AGM is held earlier, ROC filing deadlines move earlier proportionally. Dates are subject to any extensions notified by MCA, CBDT, or GSTN during the year — always verify with your CA.
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