A D K S & Company

Fo. 10Notes & toolsA D K S & Company

Glossaryterms used on this site.

49 terms, defined plainly. Statutory terms reflect the law as checked on 25 September 2026. General information, not advice.

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A

ADT-1
The form a company files to tell the Registrar of Companies that it has appointed or reappointed its auditor, within 15 days of the meeting.
Agency audit
An independent check of an agency acting for a lender, such as a collection, repossession or field-verification agency, against the mandate the lender gave it.
Aggregate turnover (GST)
Turnover across all GST registrations held on the same PAN, all-India. It decides, among other things, whether the annual GST return and reconciliation are required.
Annual general meeting (AGM)
The yearly meeting of a company’s members. Most companies must hold it within six months of the end of the financial year; several filings run from its date. See also: AOC-4, MGT-7 and MGT-7A, ADT-1.
AOC-4
The form for filing a company’s financial statements with the Registrar of Companies, within 30 days of the AGM.

B

Branch office
An office of a foreign company in India that may carry on specified activities, such as export and import, consultancy and research, and remit profits after tax. See also: Liaison office, Wholly owned subsidiary.

C

Challan
The form or online record by which tax is paid to the government, such as TDS deducted in a month.
CMP-08
The quarterly statement-cum-payment filed by taxpayers in the GST composition scheme.
Composition scheme (GST)
A simplified GST scheme for smaller taxpayers who pay tax at a fixed rate on turnover and file a quarterly statement.
CSR-1
The registration a non-profit files with the Ministry of Corporate Affairs before it can receive corporate social responsibility funds from companies.

D

Data fiduciary
Under the Digital Personal Data Protection Act, 2023, the person or organisation that decides why and how personal data is processed.
Data principal
The individual to whom personal data relates. The DPDP Act gives the data principal rights to information, correction, erasure, nomination and grievance redress.
Data Protection Board of India
The body set up under the DPDP Act that hears complaints and can impose penalties for breaches of the Act.
DIN
Director Identification Number: the unique number every company director must hold.
DIR-3 KYC
The director’s know-your-customer filing. From 31 March 2026 it is due once every three financial years, by 30 June, with changes in contact details reported within 30 days.
DPDP Act
The Digital Personal Data Protection Act, 2023, with the Digital Personal Data Protection Rules, 2025: India’s law on processing digital personal data.
DPT-3
A company’s yearly return of deposits and of money received that is not treated as a deposit, due by 30 June.

F

FC-4
The annual return of foreign contribution received and used, due within nine months of the end of the financial year.
FCRA
The Foreign Contribution (Regulation) Act, 2010. It controls how organisations in India accept and use money and articles from foreign sources. See also: Foreign contribution, FCRA account, Prior permission (FCRA).
FCRA account
The designated bank account at the State Bank of India, New Delhi Main Branch, where every foreign contribution must first be received.
Foreign contribution
Money, articles or securities given by a foreign source, which includes a foreign donor or a company in India that is majority foreign-owned.
Form 10B and Form 10BB
Audit reports of trusts and institutions registered for income-tax exemption, filed one month before the return is due.
Form 10BD and Form 10BE
The statement of donations received (10BD) and the certificate given to each donor (10BE) by institutions approved for donor deductions, due by 31 May.

G

GSTR-1
The GST return of outward supplies: by the 11th of the next month for monthly filers, or the 13th of the month after the quarter under QRMP.
GSTR-3B
The GST summary return with payment of tax: by the 20th of the next month for monthly filers, or the 22nd or 24th after the quarter under QRMP, depending on the state.
GSTR-9 and GSTR-9C
The GST annual return (GSTR-9) and reconciliation statement (GSTR-9C), due by 31 December after the year. GSTR-9 is optional up to ₹2 crore aggregate turnover; GSTR-9C applies above ₹5 crore.

I

Income-tax Act, 2025
The law that replaced the Income-tax Act, 1961 from 1 April 2026. It uses a single “tax year” and renumbers sections and forms.
Internal audit
A review, for management, of how an organisation’s offices, branches and processes actually operate against its own rules and controls.

L

Liaison office
An office of a foreign company in India that only represents its parent. It cannot earn income in India; its expenses are paid by the parent. See also: Branch office, Wholly owned subsidiary.
LLP
A limited liability partnership under the Limited Liability Partnership Act, 2008: a partnership whose partners’ liability is limited.
LLP Form 11
An LLP’s annual return, due by 30 May.
LLP Form 8
An LLP’s statement of account and solvency, due by 30 October.

M

MGT-7 and MGT-7A
A company’s annual return, filed within 60 days of the AGM. MGT-7A is the shorter version for small companies and one person companies.
MIS
Management information system: the regular reports management uses to run the business, such as budgets against actuals.
MSME-1
A company’s half-yearly return of amounts owed to micro and small enterprises, due by 30 April and 31 October.

P

Physical verification
Counting or inspecting assets or stock to confirm that what the books show actually exists and is in the condition recorded.
Prior permission (FCRA)
Permission from the Ministry of Home Affairs to receive a specific foreign contribution from a named donor for a stated purpose, used by organisations not yet registered.

Q

QRMP scheme
Quarterly Return Monthly Payment: a GST option for smaller taxpayers to file returns every quarter while paying tax every month.

R

Repossession agency
An agency a lender engages to take back an asset, such as a vehicle, when a loan is in default, under the lender’s rules and the law.

S

Section 8 company
A company formed for charitable or similar objects under section 8 of the Companies Act, 2013, with a licence that bars it from paying dividends to its members.
Small company
A private company within the limits of paid-up capital and turnover set under the Companies Act. From 1 December 2025 the limits are ₹10 crore and ₹100 crore.
Society
A member-based body registered under the Societies Registration Act, 1860, with at least seven founding members, often run by an elected committee.

T

Tax year
Under the Income-tax Act, 2025, the financial year from 1 April to 31 March for which income is taxed. It replaces “previous year” and “assessment year”.
TCS
Tax collected at source: tax a seller collects from the buyer on specified sales and pays to the government.
TDS
Tax deducted at source: tax the payer deducts from specified payments and deposits with the government, generally by the 7th of the next month (30 April for March).
TDS and TCS statements
Quarterly statements of tax deducted or collected. From tax year 2026-27: Form 138 (salary), 140 (other residents), 144 (non-residents) and 143 (TCS), due 31 July, 31 October, 31 January and 31 May.
Trust (public charitable)
A charitable body created by a trust deed and controlled by its trustees. In Delhi the deed is registered with the Sub-Registrar.

U

Utilisation account (FCRA)
A bank account in a scheduled bank to which foreign contribution may be moved from the FCRA account for use in the organisation’s own activities.

W

Wholly owned subsidiary
An Indian company fully owned by a foreign parent. It can run any business its objects allow, subject to the foreign investment rules for its sector. See also: Liaison office, Branch office.