Timely payment of taxes offers numerous benefits, such as saving money and steering clear of financial issues such as poor credit scores and penalties for non-compliance. Here, in the given compliance calendar, we detail the essential compliance obligations for July in the fiscal year 2024-25.
We have segregated the Compliance Calendar in two parts: “The Compliance Calendar of important due dates for GST Returns in the Month of July 2024” and “The Compliance Calendar of important due dates for Income Tax Compliance/PF/ESI in the Month of July 2024”.
Important due dates for GST Returns in the Month of July, 2024 |
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Due Date |
Forms to be filled |
Period |
Who should file? |
|
10.07.2024 |
GSTR-07 |
June 2024 |
To be filed by the persons who is required to deduct TDS i.e., Tax Deducted at Source under GST |
|
10.07.2024 |
GSTR-08 |
June 2024 |
To be filed by the persons who is required to deduct TCS i.e., Tax Collected at Source under GST. |
|
11.07.2024 |
GSTR-1 |
June 2024 |
Taxpayers whose aggregate turnover is > 5 crores or who have opted to file monthly return (Other than QRMP scheme) |
|
13.07.2024 |
GSTR-1 IFF (QRMP) |
June 2024 |
Taxpayers under GST with turnover limits opt for QRMP-IFF for quarterly returns and monthly invoice furnishing, aiding input tax credit. |
|
13.07.2024 |
GSTR-05 |
June 2024 |
To be filed by Non-Resident Taxable Person |
|
13.07.2024 |
GSTR-06 |
June 2024 |
To be filed by Input Service Distributors |
|
18.07.2024 |
GST-CMP-08 |
June 2024 |
To be filed by Composition Scheme Dealers |
|
20.07.2024 |
GSTR 5A |
June 2024 |
To be filed by Non-Resident Taxpayers and ODIAR service providers. |
|
20.07.2024 |
GSTR-3B |
June 2024 |
Taxpayers whose aggregate turnover is > 5 crores or who have opted to file monthly return |
|
22.07.2024 |
GSTR-3B (QRMP) |
June 2024 |
GSTR-3B under the QRMP scheme, with IFF, is for small Indian taxpayers with turnover up to Rs. 5 crores, allowing quarterly returns and monthly payments. |
Important due dates for Income Tax Compliance/PF/ESI in the Month of July, 2024 |
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|
07.07.2024 |
TDS and TCS liabilities to the Income Tax Department |
June 2024 |
To be filed by entities who are required to deduct tax at the source before making certain payments, such as salaries, interest, rent, commission, etc. |
|
15.07.2024 |
FLA Return |
FY 2023-24 |
Indian companies or LLPs receiving Foreign Direct Investment (FDI), making Outward Direct Investment (ODI) in shares, equity, or External Commercial Borrowings (ECB) are required to file the FLA Return. This obligation applies to entities with existing foreign liabilities or assets, regardless of whether new transactions occurred in the current year. |
|
15.07.2024 |
TDS Certificate (Form 16B) |
May 2024 |
Form 16B is filed by the buyer of immovable property (like land, building, apartment) if TDS is deducted on the purchase of such property. |
|
15.07.2024 |
TDS Certificate (Form 16C) |
May 2024 |
Form 16C is filed by the person who is responsible for paying any income or making any payment (other than salary) to a resident. It’s primarily related to TDS on rent. |
|
15.07.2024 |
TDS Certificate (Form 16D) |
May 2024 |
Form 16D is filed by the tenant (deductor) for TDS deducted on rent. |
|
15.07.2024 |
Professional tax returns |
June 2024 |
Filing professional tax returns typically falls on the employers or the individuals who are liable to pay professional tax |
|
15.07.2024 |
PF/ESI |
June 2024 |
Employers are required to deduct the specified amounts from employees’ salaries and contribute their share towards PF and ESI |
|
15.07.2024 |
Quarterly TCS return (Form 26EQ) |
April-June 2024 |
TCS collector need to submit a TCS return every quarter. |
|
30.07.2024 |
Quarterly TCS Certificate |
April-June 2024 |
Issuance of TCS certificate ( Form 27D) for Quarter 1 of FY 2024-25 |
|
30.07.2024 |
Challan cum TDS statement [Tax deducted under 194IA (Form 26 QB), 194IB (Form 26 QC), and 194M (Form 26 QD)] |
June 2024 |
To be filed by a contractor, an employer, or any person or entity making specified payments where TDS is required to be deducted as per the provisions of the Income Tax Act, 1961. |
|
31.07.2024 |
Deposit of quarterly TDS returns |
April-June 2024 |
Quarterly TDS returns (Form 24Q or Form 26Q) for April-June 2024 quarter
|
|
31.07.2023 |
Form No. 10BBB |
April-June 2024 |
Intimation in Form 10BBB by a pension fund in respect of each investment made in India for the quarter ending June, 2023 |
|
31.07.2024 |
ITR Filing |
FY 2023-24 |
ITR Filing for assesses other than (a) corporate filer or (b) non-corporate filer (whose books of account are required to be audited) or (c) partner of a firm whose accounts are required to be audited or the spouse of such partner if the provisions of section 5A applies or (d) a filer who is required to furnish a report under section 92E. |
Please make sure to keep a check! So you do not forget these important dates under Income Tax.
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