# LanceIQ: product and compliance-guide facts

LanceIQ is an AI compliance operations platform for Indian private companies. Its current product coverage is MCA and GST compliance monitoring, counterparty Deep Reports, and evidence preparation for professional review. LanceIQ does not make regulated final judgments or sign or submit statutory filings: those remain the responsibility of an appropriately authorised Chartered Accountant, Company Secretary, or lawyer.

## Current product coverage

- **MCA and GST monitoring:** helps a company organise its relevant MCA and GST obligations and identify work requiring attention.
- **Counterparty Deep Report:** a staff-assisted report, normally delivered in about three hours. It brings together available GST status, MCA company/director/charge information, court-record searches, and MCA financial information where available.
- **Professional-review preparation:** prepares and organises evidence for a qualified professional. The professional remains responsible for advice, final decisions, signatures, and filings.

LanceIQ does not claim a live connection to every government registry or to any named accounting, CRM, email, or other external system. For coverage beyond the current product scope, contact LanceIQ to discuss whether partner-professional support is available.

## Compliance guides

The public compliance pages are educational summaries, not legal, tax, or professional advice. Applicability, dates, forms, and consequences vary by company facts and by current notifications. A qualified professional should confirm the requirement before action.

### MCA / Companies Act

- An annual general meeting is generally governed by section 96 of the Companies Act, 2013.
- Financial statements are generally filed in Form AOC-4 within 30 days of the AGM, and the annual return is generally filed in Form MGT-7 within 60 days of the AGM. Exceptions and extensions can apply.
- Section 164(2) can create director-disqualification consequences after defaults in filing financial statements or annual returns for three continuous financial years. Its application is fact-specific and should be assessed by a professional.

### GST

- GSTR-1 and GSTR-3B obligations and dates depend on registration, return scheme, tax period, and notifications.
- Input-tax-credit eligibility includes statutory conditions. Invoice reporting by a supplier and reflection in the recipient's GSTR-2B are relevant to section 16(2)(aa), but eligibility must be assessed on the full facts and current law.

### Direct tax

- Under sections 208 and 211 of the Income-tax Act, advance tax generally applies when estimated tax liability after TDS/TCS is at least ₹10,000. The standard corporate instalment percentages are 15%, 45%, 75%, and 100% by 15 June, 15 September, 15 December, and 15 March respectively, subject to statutory exceptions.
- Section 234F late-filing fee is generally ₹1,000 where total income does not exceed ₹5 lakh and ₹5,000 in other cases. Interest and loss-carry-forward consequences need a fact-specific review.
- Forms 15CA and 15CB apply only in the situations prescribed under the Income-tax Rules; a non-resident payment does not automatically require both forms.

### FEMA

- Form FC-GPR is generally filed not later than 30 days from the date of issue of equity instruments to a person resident outside India, where applicable.
- The annual FLA return is relevant to Indian companies and LLPs with outstanding foreign assets or liabilities as at the end of March, subject to RBI's current criteria. It is generally due by 15 July.

## Primary sources

- Companies Act and MCA forms: https://www.mca.gov.in/
- GST law and portal guidance: https://www.gst.gov.in/
- Income Tax Department: https://www.incometax.gov.in/
- RBI FEMA and FLA guidance: https://www.rbi.org.in/

## Contact

For current product coverage, a company-specific compliance discussion, or coordination with a partner professional, contact LanceIQ at support@lanceiq.com.