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Tax Compliance Calendar

To the uninitiated, the Indian tax structure can seem confusing. However, for the most part, it follows a pre-set schedule that clearly outlines the liabilities and the dates by which they must be paid.

Here is the Indian tax compliance calendar for your reference.

COMPLIANCES FREQUENCY DUE DATES EXPLAINED
Income Tax
TDS payment Monthly By 7th of following month. Exception – for March month the due date is April 30th Payer obligated to withhold taxes on certain payments such as salary, rent, contractual, professional, commission, interest etc and pay the same by due dates
TDS returns Quarterly By end of month following the end of quarter. Exception – for Q4 (Jan-Mar), due date is May 31st Requirement to file a quarterly tax withholding return in the prescribed form within the prescribed time for tax deducted
Issue of TDS certificates Quarterly/ Annual 15 days after the due date for TDS returns. TDS certificates are issued to employees annually by 15th June following end of financial year
Requirement to issue certificate of the taxes withheld in the prescribed form i.e., Form 16A (for payments other than salary) to Payees
Requirement to issue certificate of the taxes withheld in the prescribed form i.e., Form 16 (for salary payments) to employees
Advance tax payment Quarterly 15th June, Sept, Dec, Mar Requirement to determine and deposit estimated tax liability on quarterly basis in advance
Corporate tax return Annual 30th November following end of the financial year (where transfer pricing is applicable). Others – 31st Oct Company is required to file annual return of income with the Revenue Authorities by 30 November (where Transfer Pricing is applicable, else 31st October) following end of financial year
Tax audit Annual 31st October following end of the financial year (where transfer pricing is applicable). Others – 30th Sept Company is required to file the Tax audit report with the Revenue Authorities if the turnover of the company exceeds the threshold limit of INR 50 million (INR 10 million in certain cases), by 31st October (where Transfer Pricing is applicable, else 30th September) following end of financial year
Filing of Master file Annual 30th November following end of the financial year. Depending on facts of the case detailed filing may be required. Where certain conditions are satisfied, Master file is required to be filed with the tax authorities. Depending on certain prescribed thresholds the same may be descriptive.
Transfer Pricing Certificate and documentation Annual 31st October following end of the financial year Company is required to file the Transfer Pricing Certification with the Revenue Authorities by 31st October following end of financial year and also collate the prescribed documentation for records before such due date. A formal Transfer Pricing Study is required where the aggregate of international transaction is in excess of INR 10 million.
Form 3CEAC – Intimation of entity filing CbCR Annual The due date shall be 10 months from the end of the relevant accounting period of the parent entity. Depending on facts of the case, detailed CbCR filing may be required Where certain conditions are satisfied, Company is required to intimate the group entity filing the CbCR report. However, where there is no group entity doing CbCR filing the Indian entity may be required to do an elaborate reporting of the Group.
Statement of Financial Transactions (Form 61A) Annual 31st May following end of the financial year. Applicable for specified transactions undertaken Company is required to file the Statement of Financial Transaction with the Revenue Authorities by 31st May following end of financial year
GST
GST payment Monthly 20th to 24th of following month Payer obligated to pay taxes on certain supply of goods / service or on receipt of certain specified goods / service under reverse charge basis by the due dates
GST returns Monthly/ Quarterly GSTR 1 – 11th of following month. Where the turnover is below INR 15 million, GSTR 1 is filed quarterly by the end of the month following the quarter Requirement to file two monthly returns (GSTR 1 and GSTR 3B) in the online mode within the prescribed time i.e. for GSTR 1 by 11th of the following month and for GSTR3B by 20th of the following month
GSTR 3B – 20th to 24th of following month Depending on the facts of the case, other returns may be required to be filed.
GST audit / Annual Return Annual 31st December following end of the financial year. Audit applicable if annual turnover is in excess of INR 20 million GST audit has to be done when the annual turnover exceeds the threshold limit of INR 20 million by the due date. Annual return to be filed in all cases
Letter of Undertaking Annual At the start of the year. This undertaking is required to export goods / services without payment of tax.

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