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The exemption limit for Annual Return varies depending on the type of entity and the Act governing it.
Here are some common exemption limits: - Under the Companies Act, 2013: -
Small companies (turnover < ₹2 cr): exempt from filing annual return (Form MGT-7) - Private companies (turnover < ₹100 cr): can file a simplified annual return (Form MGT-7A) - Under the Income-tax Act, 1961:
- Individuals (income < ₹2.5 lakh): exempt from filing income tax return (ITR) -
Hindu Undivided Families (HUFs) and Association of Persons (AOPs) (income < ₹2.5 lakh): exempt from filing ITR -
Under the Goods and Services Tax (GST) Act: - Taxpayers with turnover < ₹2 cr: exempt from filing annual return (Form GSTR-9) -
Taxpayers with turnover < ₹5 cr: can file a simplified annual return (Form GSTR-9A)
Please note that these exemption limits are subject to change, and additional conditions may apply.
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