In general, compliance means conforming to a rule, such as a specification, policy, standard, or law. Regulatory compliance describes the goal that organizations aspire to achieve in their efforts to ensure that they are aware of and take steps to comply with relevant laws, policies, and regulations.
Maintaining compliance for a business has been very complex as various filings have to be completed at different due dates. Failure or delay in maintaining compliance leads to penalties in lakhs.
Timely compliance with all the relevant laws, regulations, and policies can benefit the organizations by keeping things running smoothly, reducing fines & penalties, and also maintaining its position in the industry.
There are different compliances as per the Laws applicable to different entities. i.e.
- ROC Compliances
- RBI Compliances
- SEBI Compliances
- IRDA Compliances
- Stock Exchange Compliances
- GST Compliances
- Income Tax Compliances