CW · GLOSSARY

The compliance dictionary.

Every acronym and form you’ll meet running a business in India, defined in a sentence or two. Search for a term or browse the A–Z.

A B C D E F G H IJKL M N O PQR S T UVWXYZ

15CA / 15CBCross-border: A declaration (15CA) and an accompanying CA certificate (15CB) required for certain foreign remittances.

ADT-1Entity & ROC: Form filed with the ROC to notify the appointment of a company's auditor, due within 15 days of the AGM.
Advance TaxTax & TDS: Income tax paid in instalments during the year, rather than at year-end, when your annual liability exceeds ₹10,000.
AGM (Annual General Meeting)Entity & ROC: The yearly meeting of shareholders where accounts are adopted, auditors appointed and dividends declared.
AIS (Annual Information Statement)Tax & TDS: A comprehensive statement of a taxpayer's financial transactions reported to the Income Tax Department, used while filing the return.
AoA (Articles of Association)Entity & ROC: The internal rulebook that governs how a company is run and managed.
AOC-4Entity & ROC: The MCA form used to file a company's audited financial statements each year.
Assessment Year (AY)Tax & TDS: The year in which the income of the previous financial year is assessed and taxed.

Belated ReturnTax & TDS: An income-tax return filed after the due date but within the window the law still allows.

CIN (Corporate Identification Number)Entity & ROC: The unique 21-character number assigned to every company registered in India.
Composition SchemeGST: A simplified GST scheme for small taxpayers offering a fixed, lower tax rate and fewer returns, at the cost of not claiming ITC.

DIN (Director Identification Number)Entity & ROC: A unique number every individual must hold to be appointed as a director of a company.
DPIIT RecognitionEntity & ROC: Recognition as a startup by the Department for Promotion of Industry and Internal Trade, unlocking tax and regulatory benefits.
DPT-3Entity & ROC: An annual return companies file with the ROC for deposits and outstanding loans.
DSC (Digital Signature Certificate)Entity & ROC: An electronic signature used to authenticate filings on government portals like the MCA and GST.
DTAA (Double Taxation Avoidance Agreement)Cross-border: A treaty between two countries that prevents the same income from being taxed twice.

e-InvoicingGST: Reporting B2B invoices to the GST portal to obtain an Invoice Reference Number (IRN), mandatory above a turnover threshold.
e-Way BillGST: An electronic document required for the movement of goods above a specified value.
ESI (Employees' State Insurance)Payroll: A health-insurance and social-security scheme for employees earning below a wage threshold, funded by employer and employee.

FC-GPRCross-border: The RBI form filed when an Indian company issues shares to a foreign investor.
FEMACross-border: The Foreign Exchange Management Act, which governs cross-border transactions and foreign investment in India.
Financial Year (FY)Tax & TDS: India's accounting and tax year, running from 1 April to 31 March.
FLA ReturnCross-border: The annual Foreign Liabilities and Assets return filed with the RBI by companies with foreign investment.
Form 16Tax & TDS: The TDS certificate an employer issues to an employee, summarising salary paid and tax deducted.
Form 26ASTax & TDS: A consolidated annual tax statement showing TDS, TCS and taxes paid against your PAN.

GST (Goods and Services Tax)GST: The unified indirect tax on the supply of goods and services across India.
GSTINGST: The 15-digit GST Identification Number assigned to a registered taxpayer.
GSTR-1GST: The return of outward supplies (sales), filed monthly or quarterly.
GSTR-3BGST: The summary GST return through which tax is paid, filed monthly or quarterly.
GSTR-9 / 9CGST: The annual GST return (9) and reconciliation statement (9C) consolidating the year's filings.

HSN CodeGST: The Harmonized System of Nomenclature code that classifies goods for GST.

Input Tax Credit (ITC)GST: Credit for the GST paid on purchases, which is set off against the GST payable on sales.

LLP (Limited Liability Partnership)Entity & ROC: A hybrid structure combining the flexibility of a partnership with the limited liability of a company.

MCA (Ministry of Corporate Affairs)Entity & ROC: The government body that regulates companies and LLPs in India.
MGT-7 / 7AEntity & ROC: The annual return filed with the ROC; 7A is the abridged version for small companies and OPCs.
MoA (Memorandum of Association)Entity & ROC: The charter document that defines a company's objects and the scope of its activities.
MSMEEntity & ROC: A Micro, Small or Medium Enterprise, as classified under the Udyam registration by investment and turnover.

Nil ReturnGST: A return filed for a period with no transactions or tax — still mandatory even when there is nothing to report.

OPC (One Person Company)Entity & ROC: A company with a single shareholder, giving a solo entrepreneur the benefit of limited liability.

PAN (Permanent Account Number)Tax & TDS: The ten-character tax identification number issued by the Income Tax Department.
PF / EPF (Provident Fund)Payroll: A retirement savings scheme funded by matching employer and employee contributions.
Professional Tax (PT)Payroll: A state-level tax on income earned from a profession, trade or employment.

RepatriationCross-border: The transfer of funds or profits from India to an account abroad, subject to FEMA conditions.
ROC (Registrar of Companies)Entity & ROC: The MCA office with which companies file their statutory returns and forms.

SAC CodeGST: The Services Accounting Code that classifies services for GST.
SPICe+Entity & ROC: The integrated MCA web form for incorporating a company — covering name, DIN, PAN, TAN, GST and EPFO in one flow.

TAN (Tax Deduction Account Number)Tax & TDS: The number required by anyone who deducts or collects tax at source.
TCS (Tax Collected at Source)Tax & TDS: Tax that a seller collects from the buyer on certain specified transactions.
TDS (Tax Deducted at Source)Tax & TDS: Tax deducted at the point of payment — salary, rent, contractor fees and more — then deposited with the government.
TurnoverTax & TDS: The total sales or revenue of a business in a period, used to set registration and audit thresholds.

Udyam RegistrationEntity & ROC: The government registration that certifies a business as an MSME.

Showing 51 of 51 terms. Definitions are simplified for general understanding and aren’t a substitute for professional advice.

CW · STILL UNSURE?

A term is one thing. Your situation is another.

If you'd rather have someone apply all this to your actual business, our CAs, CSs and lawyers are a call away.