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Filing your full financial audit annual return accurately is a critical statutory requirement for corporate entities and large-scale traders. Present Consultants Private Limited streamlines your D-03 comprehensive self-assessment submission, ensuring absolute Tax Compliance in Nepal.
₨ 5,000.00
For incorporated private and public companies, registered partnerships, and high-turnover natural persons, the D-03 return serves as the mandatory, comprehensive tax declaration framework. Under the regulatory protocols of Tax Compliance in Nepal, this detailed return requires declaring your actual global or territory-sourced income, matching input credits, and claiming legitimate business deductions. The procedural method requires adjusting net commercial profits according to statutory tax rules, completing specific financial schedules (Annexures 5, 7, and 10) via the IRD Integrated Tax System (ITS) portal, and backing the submission with a certified independent audit report.
Pursuant to Section 96 of the Income Tax Act, 2058, all entities—including Private Limited and Public Limited companies, registered partnerships, trusts, and permanent establishments—must mandatorily file an annual income tax return using Form D-03. Furthermore, the Inland Revenue Department’s directives state that any resident natural person whose annual business turnover crosses Rs. 50 Lakhs (NPR 5,000,000) or whose net business profit crosses Rs. 5 Lakhs (NPR 500,000), as well as specialized professional consultants (such as lawyers, doctors, auditors, and engineers), are strictly barred from presumptive schemes and must file Form D-03. According to the law, this return must be accompanied by audited financial statements and submitted within three months from the end of the income year (by Ashoj end/mid-October).
Delaying or misreporting a comprehensive D-03 submission exposes your organization to severe financial and legal liabilities. Pursuant to Section 117(1)(Ga) of the Income Tax Act, 2058, failure to submit the D-03 income tax return within the prescribed timeline results in an administrative fee calculated at 0.1% per annum of the gross turnover or Rs. 100 per day, whichever is higher. Additionally, under Section 119, any unpaid tax balance incurs an interest rate of 15% per annum, compounded monthly from the original due date. Most critically, if the return contains false or misleading figures, Section 120 empowers the IRD to slap a penalty of 50% of the tax deficit for negligent misstatements, rising to 100% of the tax deficit for intentional tax evasion.
