Accounting & Tax in Mumbai
Ind AS books, ITR-6, GST, and transfer pricing — India CFO function as a service. irpr.network manages all Maharashtra state compliance — Maharashtra Shops and Commercial Establishments Act 1948 applies (same as Pune a...
At a Glance
Timeline
Books live in 10 working days; tax filings on statutory deadlines
City
Mumbai, Maharashtra
State PT
Maharashtra Professional Tax applies identically to Pune: ₹0 for salary up to ₹7,500/month; ₹175/month for ₹7,501–₹10,000; ₹200/month for 11 months and ₹300 in February (total ₹2,500/year) for salary above ₹10,000
Compliance
Companies Act 2013 · Income Tax Act · Ind AS
Ind AS
Accounting standard
22%
Base corporate tax rate
30 Nov
ITR-6 deadline
Form 3CEB
TP certification required
Deliverables
What irpr.network handles for Accounting & Tax in Mumbai
Monthly bookkeeping under Ind AS (converged IFRS standards)
Chart of accounts aligned to parent company reporting
Accounts payable and receivable management
Bank reconciliation and monthly MIS reports
Statutory audit coordination with Big-4 or Tier 1 CA firm
Annual ITR-6 filing (corporate income tax) by 30 November
Advance tax computation and payment (4 instalments: June, Sept, Dec, March)
Transfer Pricing: Local File, Master File, Form 3CEB
GST returns: GSTR-1, GSTR-3B, GSTR-9 annual return
TDS returns: Form 24Q (salary), Form 26Q (vendor), Form 27Q (foreign payments)
Form 15CA and 15CB for foreign remittances
Cost centre reporting and inter-company reconciliation with parent
Maharashtra Compliance
Maharashtra Shops and Commercial Establishments Act 1948 applies (same as Pune above). Mumbai-specific: BMC (Brihanmumbai Municipal Corporation) issues trade licenses, which must be renewed annually for commercial establishments in Mumbai. The Maharashtra Pollution Control Board (MPCB) clearance is …
Full Maharashtra guide →Professional Tax — Maharashtra
Maharashtra Professional Tax applies identically to Pune: ₹0 for salary up to ₹7,500/month; ₹175/month for ₹7,501–₹10,000; ₹200/month for 11 months and ₹300 in February (total ₹2,500/year) for salary above ₹10,000. PT enrollment with the Maharashtra State Professional Tax authority is mandatory.
IT Zones in Mumbai
- BKC
- Navi Mumbai SEZ
- Andheri MIDC
- Mindspace Business Parks Malad/Airoli
Process
How Accounting & Tax works in Mumbai
Books setup
Chart of accounts created in Tally, Zoho Books, or QuickBooks (aligned to parent's reporting). Opening balances migrated.
Monthly accounting
Vendor invoices posted, bank reconciled, payroll entries booked, depreciation computed. Monthly MIS report delivered by the 10th.
GST compliance
GSTR-1 and GSTR-3B filed monthly. Input Tax Credit reconciled. LUT renewed annually for zero-rated IT exports.
Tax planning & filing
Advance tax computed and paid in 4 instalments. Annual ITR-6 with tax audit (Form 3CD) filed by 30 November.
Transfer Pricing
Benchmarking study (TNMM or CUP method), Local File, Master File (if applicable), and Form 3CEB certified by a CA by 30 November.
Why irpr.network
Accounting & Tax in Mumbai — why choose irpr.network
Mumbai is the mandatory GCC location for financial services firms requiring proximity to Indian regulatory bodies (RBI, SEBI, IRDAI), stock exchanges (BSE, NSE), and the deepest concentration of banking, insurance, and capital markets domain experts in India - a combination no other Indian city can replicate.
Local expertise
Maharashtra Shops Act, PT, and state-specific compliance
Zero penalties
All statutory deadlines met — SLA-backed
Fast setup
Books live in 10 working days; tax filings on statutory deadlines
Full compliance
Companies Act 2013 · Income Tax Act
Mumbai Snapshot
Talent pool
Large financial services talent pool - 400,000+ BFSI professionals
Salary band
₹8–60 LPA for BFSI tech roles
Top sectors
FAQ
Accounting & Tax in Mumbai — common questions
How does Accounting & Tax work in Mumbai?
irpr.network handles accounting & tax in Mumbai end-to-end — from Maharashtra state registrations to ongoing monthly compliance. Chart of accounts created in Tally, Zoho Books, or QuickBooks (aligned to parent's reporting). Opening balances migrated. Books live in 10 working days; tax filings on statutory deadlines.
What Maharashtra compliance is required for Accounting & Tax?
In Mumbai, the primary state compliance requirements are: Maharashtra Shops and Commercial Establishments Act 1948 applies (same as Pune above). Maharashtra Professional Tax applies identically to Pune: ₹0 for salary up to ₹7,500/month; ₹175/month for ₹7,501–₹10,000; ₹200/month for 11 months and ₹300 in February (total ₹2,500/year) for salary above ₹10,000. irpr.network manages all state-level registrations and filings as part of the Accounting & Tax service.
What is the corporate income tax rate for a GCC?
The base rate is 22% (effective 25.17% including surcharge and cess). New manufacturing entities set up after 1 October 2019 qualify for 15% (effective 17.01%). Most GCCs pay at the 25.17% effective rate.
What is the advance tax schedule?
Advance tax is required if annual tax liability exceeds ₹10,000. Instalments: 15% by 15 June, 45% by 15 September, 75% by 15 December, 100% by 15 March. Shortfall attracts interest under Section 234B and 234C.
What is Transfer Pricing for GCCs?
TP rules require inter-company transactions (management fees, cost-plus margins) to be at arm's length. GCCs typically use TNMM cost-plus (8–15% markup). Form 3CEB must be certified by a CA and filed by 30 November.
Does a GCC need a statutory audit?
Yes. Every Indian company must have accounts audited by a CA under Section 139 of the Companies Act. Tax audit under Section 44AB also applies for most GCCs. Audit report (Form 3CA/3CB and 3CD) must be completed before filing ITR-6.
Get started
Accounting & Tax in Mumbai — talk to our team
irpr.network handles Maharashtra compliance end-to-end. Books live in 10 working days; tax filings on statutory deadlines.