Due Date of Income Tax Archives

Compliance Calendar For The Month of January 2025 As we enter 2025, businesses and individuals must stay on top of their compliance obligations. A compliance calendar helps track important deadlines for GST filings, Income Tax returns, and other statutory requirements, ensuring smooth operations and avoiding penalties. Timely compliance promotes regulatory adherence, financial discipline, and sets a proactive tone for the year ahead. Important Due Dates for GST Returns in January 2025 Due Date Form to be Filed Period Who Should File? Significance 10.01.2025 GSTR 7 December 2024 Persons required to deduct TDS (Tax Deducted at Source) under GST. Ensures compliance with GST TDS regulations, critical for businesses engaging in specified transactions. 10.01.2025 GSTR 8 December 2024 E-commerce operators required to collect TCS (Tax Collected at Source) under GST. Vital for e-commerce platforms to report and remit TCS, ensuring accountability in online transactions. 11.01.2025 GSTR 1 December 2024 Taxpayers with an aggregate turnover exceeding ₹ 1.50 Crores or opting for monthly returns. Facilitates accurate reporting of outward supplies for high-turnover taxpayers. 13.01.2025 GSTR 1 (IFF) October-December 2024 Taxpayers under the QRMP scheme (Optional). Allows small taxpayers to furnish invoice details for better credit flow to recipients. 13.01.2025 GSTR 5 & 5A December 2024 Non-resident taxpayers and ODIAR service providers. Ensures that non-resident and digital service providers remain compliant with Indian tax regulations. 13.01.2025 GSTR 6 December 2024 Input Service Distributors. Helps distribute eligible input tax credit to the respective recipients, maintaining tax chain continuity. 18.01.2025 CMP-08 October-December 2024 Composition taxpayers. Simplifies tax payment for small taxpayers under the composition scheme, reducing compliance burden. 20.01.2025 GSTR 3B December 2024 Taxpayers with an annual turnover exceeding ₹ 5 Crores. Critical for declaring summary GST liabilities and claiming input tax credit for large taxpayers. 22.01.2025 GSTR 3B October-December 2024 Taxpayers in South India under the QRMP scheme (Optional). Enables regional QRMP taxpayers to comply with GST payment and reporting obligations. 24.01.2025 GSTR 3B October-December 2024 Taxpayers in North India under the QRMP scheme (Optional). Allows regional QRMP taxpayers to manage GST compliance with staggered deadlines for ease of filing. Also read: Due Dates in February, 2025 Important Due Dates for Income Tax Compliance / PF / ESI in January 2025 Due Date Form / Action Period Description Penalties for Non-Compliance 07.01.2025 Challan No. ITNS-281 December 2024 Payment of TDS/TCS deducted/collected in December 2024. Interest at 1.5% per month and penalty equal to TDS/TCS amount for delayed payment. 14.01.2025 TDS Certificate November 2024 Issue of TDS Certificate under Section 194IA for November 2024. Fine of ₹ 200 per day of delay until certificate is issued, subject to a maximum of the TDS amount. 14.01.2025 TDS Certificate November 2024 Issue of TDS Certificate under Section 194IB for November 2024. Same as above. 14.01.2025 TDS Certificate November 2024 Issue of TDS Certificate under Section 194M for November 2024. Same as above. 14.01.2025 TDS Certificate November 2024 Issue of TDS Certificate under Section 194S (specified person) for November 2024. Same as above. 15.01.2025 Professional Tax December 2024 Payment of Professional Tax on salaries for December 2024. Late payment fee and penalty as prescribed by the respective state’s tax laws. 15.01.2025 TCS Certificate October-December 2024 Issue of TCS Certificates in Form 27EQ. Fine of ₹ 200 per day of delay until certificate is issued, subject to a maximum of the TCS amount. 15.01.2025 Form 24G by the Government December 2024 Filing by government offices for TDS/TCS paid without a challan. Late filing fee as per IT Act provisions. 15.01.2025 PF & ESI Payment December 2024 Payment of Provident Fund & ESI for December 2024. Penalty and interest on late payments as per EPF and ESI regulations. 15.01.2025 Form 15CC December 2024 Quarterly statement on foreign remittances by authorized dealers. Penalty under Section 271H for delay in filing specified statements. 15.01.2025 Form 15G/15H December 2024 Submission of Form 15G/15H declarations received during October-December 2024. Penalty for non-filing or late submission as applicable. 15.01.2025 Form No. 49BA December 2024 Filing of Form No. 49BA for specified funds. Penalty for late submission as prescribed under relevant rules. 30.01.2025 TDS Challan-cum-statement December 2024 Filing under Sections 194IA, 194IB, and 194M. Same as penalties for TDS payment delays. 30.01.2025 TDS Certificate December 2024 Issue of TDS Certificate under Section 194S for December 2024. Same as above. 30.01.2025 TCS Certificate October-December 2024 Issue of TCS Certificates in Form 27D. Same as penalties for TCS delays. 30.01.2025 TDS Payment December 2024 TDS payment for December 2024 under Forms 26QB, 26QC, and 26QD. Interest at 1.5% per month for delayed payment and penalty equal to TDS amount for non-payment. 31.01.2025 TDS Return Payment October-December 2024 Filing TDS Returns in Forms 24Q, 26Q, and 27Q. Late filing fee of ₹ 200 per day up to ₹ 10,000 and potential prosecution in severe cases. The compliance calendar in January 2025 marks the start of the new financial year's compliance cycle. Staying updated with GST filings, TDS/TCS payments, and other statutory returns is crucial to avoid penalties and ensure smooth operations. Businesses and individuals should plan to meet these obligations efficiently. PDF Download of Compliance Calendar January 2025 Suggested Read : Compliance Calendar February, 2025 GST return of GSTR 1 and GSTR 3B GST Payment for Businesses GST Nil Return What is ITR Form 7?

Due Date of Income Tax

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