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If you’re a charitable or religious trust or institution planning to apply your previous year’s income in the next financial year , filing Form 9A is mandatory—and the deadline is 31st May 2025 . 📌 What is Form 9A? Form 9A is a declaration form to be filed under Section 11(1) of the Income Tax Act, 1961. It allows eligible entities to carry forward income —meant for charitable or religious purposes—from the previous year and apply it in the next year or in a future year. ✅ Why is Form 9A Important? Under normal rules, income must be applied within the same financial year to claim exemption. However, if you couldn't apply the income during the year for valid reasons, Form 9A gives you the flexibility to defer the application —without losing tax benefits. Filing this form ensures: Continued tax exemption under Section 11 Avoidance of tax liability on unspent income Proper compliance with Income Tax law 🧾 Who Should File? ✔️ Charitable Trusts ✔️ Religious...

The Income Tax Department mandates all eligible entities to file Form 10BD —a donation statement—by 31st May 2025 for the financial year 2024–25. This filing is critical for institutions and trusts that receive donations and issue certificates under Section 80G(5)(iii) or Section 35(1A)(i) . 🔍 What is Form 10BD? Form 10BD is a statement of donations received by entities registered under: Section 80G – For institutions providing tax deduction benefits to donors. Section 35 – For institutions involved in scientific research or rural development. This form helps the Income Tax Department track donations and ensures transparency and authenticity of the tax benefits claimed by donors. 🧾 Who Needs to File? ✔️ Charitable institutions ✔️ NGOs ✔️ Scientific research organizations ✔️ Educational or medical trusts ✔️ Any entity registered under Section 80G or 35 that has received donations 📅 Important Deadline: 🗓️ Due Date for FY 2024–25 : 31st May 2025 Missing t...

Organizations that receive donations under Sections 80G or 35(1A)(ii) must take note of an important compliance requirement — Form 10BE . If your institution is approved under these sections and received donations during FY 2024–25 , it is mandatory to issue Form 10BE to all donors on or before 31st May 2025 . 📌 What is Form 10BE? Form 10BE is a certificate of donation that a charitable institution or research organization must issue to donors. This form: Certifies the amount of donation received Helps donors claim tax deductions under: Section 80G – for general charitable donations Section 35(1A)(ii) – for donations made to research associations/institutes Includes details of the donee organization , donor PAN , and donation amount 🗓️ Due Date: 31st May 2025 Form 10BE must be issued for the Financial Year 2024–25 by 31st May 2025 , following the financial year-end. Delay or failure to issue this form may result in: Donors being unable to claim ...

Are you managing a charitable or religious trust or an institution claiming exemption under Section 11 or Section 10(21) of the Income Tax Act? Then this is a crucial compliance update for you! 📌 What is Form No. 10? Form 10 is a mandatory form to be filed by charitable/religious trusts and institutions if they intend to accumulate or set aside income for application in future years, rather than spending 85% of it in the current financial year. This option is available under: Section 11(1) of the Income Tax Act (for charitable/religious trusts) Section 10(21) (for certain scientific research associations, institutions, etc.) 📅 Due Date: 31st May 2025 Form 10 must be electronically filed on or before 31st May 2025 for Financial Year 2024–25 , if your return of income is due by 31st July 2025 . 🧾 Why is Form 10 Important? If your trust or institution: Is unable to spend 85% of its income in FY 2024–25 Wants to accumulate income for a specific purpose (...

Form 9A is a crucial compliance form under the Income Tax Act, 1961 . It is used by certain entities like charitable and religious trusts/institutions to exercise the option under Explanation to Section 11(1) . This section allows them to apply the income of the previous year in the next financial year or in future , thereby ensuring that such income is still considered exempt from tax. This option is beneficial for organizations that are unable to apply 85% of their income during the financial year , due to unavoidable reasons, and wish to carry forward that application to a later year. 📅 Due Date for Form 9A Filing: 31st May 2025 This is within 2 months from the end of the financial year 2024–25 , which ends on 31st March 2025. 👥 Who Should File Form 9A? Any trust or institution that: Claims exemption under Section 11 Could not apply 85% of its income during FY 2024–25 Intends to apply that income in FY 2025–26 or in future Is required to file the return of inco...

Attention LLPs! The deadline for filing the Annual Return – Form LLP 11 for the financial year 2024–25 is approaching fast. As per the compliance norms laid out under the Limited Liability Partnership Act, 2008 , every LLP registered in India is required to file Form LLP 11 annually, irrespective of business activity. 🗓️ Due Date: 30th May 2025 This form must be filed within 60 days from the close of the financial year, i.e., by 30th May 2025 , for the financial year ending 31st March 2025. Missing this deadline may attract heavy penalties and compliance issues with the Ministry of Corporate Affairs (MCA). ✅ What is Form LLP 11? Form LLP 11 is the Annual Return of a Limited Liability Partnership (LLP). It contains important details regarding: The partners/designated partners of the LLP Registered office address Business activities carried out during the year Contribution and other relevant disclosures Note: This is not the financial return. Filing of fi...

Attention GST-registered taxpayers! If you're required to reverse or pay Input Tax Credit (ITC) under specific circumstances, it's time to take action. Form ITC-03 must be filed by 30th May 2025 to remain compliant under the GST law. 🧾 What is Form ITC-03? Form ITC-03 is used to reverse ITC already claimed on: ✅ Inputs held in stock ✅ Inputs contained in semi-finished or finished goods ✅ Capital goods or machinery This applies in scenarios where Input Tax Credit needs to be reversed , particularly when: A taxpayer opts for the Composition Scheme under Section 10. A taxpayer’s supply of goods/services becomes exempt . The reversal ensures that taxpayers do not continue to benefit from ITC once their eligibility for it has changed. 📆 Due Date: Form Name: GST ITC-03 For taxpayers opting into Composition Scheme or becoming exempt Deadline to File: 30th May 2025 🔍 Why Is Filing ITC-03 Important? Failure to file ITC-03 on time can l...

As we move into the final stretch of compliance for the Financial Year 2024–25, it’s crucial for businesses and collectors of tax at source (TCS) to take note of an important upcoming deadline — issuance of TCS certificates for the 4th Quarter (January to March 2025) . 🔍 What is a TCS Certificate? A Tax Collected at Source (TCS) Certificate is a document issued by a seller who has collected tax while receiving payments from the buyer for certain specified goods or services. This certificate serves as proof for the buyer to claim credit for the TCS amount against their income tax liability. The certificate is issued in Form 27D and must be provided quarterly. 📅 Key Deadline: Certificate Period: January – March 2025 (Q4 of FY 2024–25) Due Date for Issuance: 30th May 2025 Failure to issue the TCS certificate on or before this date could result in non-compliance , penalties , and unnecessary scrutiny during audits or assessments. 🧾 Who Must Issue TCS Certificates? T...

Timely TDS compliance is essential to avoid unnecessary penalties, interest, and scrutiny from the Income Tax Department. Here's everything you need to know about the upcoming TDS payment deadline for the month of April 2025 . 📆 Due Date: 30th May 2025 – This is the last date to pay and furnish your challan-cum-statement for TDS deducted under specific sections. 🧾 Applicable Sections: Section 194-IA – TDS on the purchase of immovable property (above ₹50 lakhs). Section 194-IB – TDS on rent payments by individuals/HUF (above ₹50,000 per month). Section 194M – TDS on payments to contractors/professionals by individuals (if amount > ₹50 lakhs). Section 194S – TDS on payments for the transfer of Virtual Digital Assets (e.g., crypto). 🚨 Why Timely Filing Matters: Interest under Section 201(1A) for late deposit of TDS. Late filing fees under Section 234E at ₹200 per day. Penalty under Section 271H up to ₹1,00,000 for delayed filing. ✅ What Yo...

Filing your Income Tax Return (ITR) accurately is essential to ensure compliance and avoid penalties. For the Assessment Year 2025–26 , the Income Tax Department has introduced some significant updates to ITR-1 (Sahaj) and ITR-4 (Sugam) . At Taxla Services , we bring you a quick breakdown of the changes and how they might affect your filing. ✅ 1. LTCG Under Section 112A Now Allowed in ITR-1 and ITR-4 Taxpayers reporting Long-Term Capital Gains (LTCG) on equity shares and mutual funds under Section 112A can now do so in ITR-1 and ITR-4 , provided the gains: Do not exceed ₹1 lakh , and Are exempt under specific conditions . This is a welcome relaxation, especially for salaried taxpayers or small traders who otherwise had to shift to ITR-2 or ITR-3 for such disclosures. ✅ 2. Mandatory Filing of Form 10-IEA Opting out of the new tax regime ? It is now mandatory to submit Form 10-IEA if a taxpayer wants to switch back to the old tax regime . This applies to individuals...

📌 What is Form 49C? Form 49C is a crucial compliance requirement for non-residents operating liaison offices in India . As per Indian tax regulations, every liaison office of a foreign company must submit Form No. 49C to the Director General of Income Tax (International Taxation) . This form is essentially a statement of activities carried out by the liaison office during the financial year. It helps the Income Tax Department monitor the nature of operations and ensure that the liaison office is not engaged in commercial or trading activities, which are outside its permitted scope. 🗓️ Who Needs to File? If you're a non-resident entity with a liaison office in India , you are mandated to file Form 49C for the Financial Year 2024–25 by 30th May 2025 . 📃 Key Details Required in Form 49C: Complete details of the liaison office Nature of liaison activities Details of employees and their salaries Statement of receipts and payments Any other relevant disclosure...

Filing your Income Tax Return (ITR) on time isn’t just about avoiding penalties — it's about securing your financial compliance, claiming refunds without delays, and maintaining a strong track record with the Income Tax Department. As the new Assessment Year 2025–26 approaches, here’s a clear breakdown of the important ITR due dates to keep on your radar. 🗓️ Important ITR Filing Deadlines – AY 2025–26 ✅ 1️⃣ 31st July 2025 Applicable to : Individuals Hindu Undivided Families (HUFs) Firms not requiring audit This is the most common due date for salaried individuals, freelancers, and small businesses that don't need to get their accounts audited. Filing before this date helps avoid late fees under Section 234F and ensures timely processing of refunds. ✅ 2️⃣ 31st October 2025 Applicable to : Companies Firms LLPs Other businesses required to get their accounts audited under the Income Tax Act Businesses under audit must ensure that their financ...

  🧾 GST Due Date Alert – PMT-06 for April 2025 📌 Deadline: 25th May 2025 For businesses under the Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme, staying on top of compliance deadlines is crucial. One such important deadline is for Form PMT-06 , which applies to taxpayers who file GSTR-3B on a quarterly basis. 🔍 What is Form PMT-06? Form PMT-06 is used by taxpayers to make the monthly payment of GST liabilities — including tax, interest, late fees, and penalties — for the first two months of a quarter under the QRMP scheme. So, for the month of April 2025 , taxpayers opting for quarterly filing must deposit their GST dues using PMT-06 on or before 25th May 2025 . ✅ Who Needs to File PMT-06? This form is mandatory for: GST-registered businesses under the QRMP scheme Taxpayers who are not eligible for NIL liability Businesses required to pay tax based on either: Fixed Sum Method (pre-filled challan), or Self-Assessment Method (based...

  📢 GST Filing Alert – GSTR-3B Due Date for April 2025 Stay Compliant and Avoid Penalties – File Before 20th May 2025 Under the Indian GST regime, timely return filing is essential for every registered taxpayer to remain compliant and avoid penalties. One of the most critical returns in this structure is GSTR-3B . For the month of April 2025 , the due date to file GSTR-3B is: 🗓️ 20th May 2025 This filing is mandatory for taxpayers with: Annual turnover exceeding ₹5 crore in FY 2024–25 OR those who have not opted for the QRMP (Quarterly Return Monthly Payment) scheme 🧾 What is GSTR-3B? GSTR-3B is a monthly summary return introduced by the GST Council to facilitate easier compliance. It is used to report: Outward taxable supplies Input Tax Credit (ITC) claimed Tax liability and payments Reverse charge liabilities , if any Unlike GSTR-1, GSTR-3B does not require invoice-level details but must accurately summarize the tax position of the taxpa...

  📌 GSTR-5A Filing Due Date for April 2025 – Everything You Need to Know! The GST landscape requires timely compliance to avoid penalties and ensure seamless operations, especially for businesses and service providers operating across borders. One such critical return under the GST regime is GSTR-5A , applicable specifically to non-resident service providers offering OIDAR (Online Information and Database Access or Retrieval) services in India. 🗓️ What is the Due Date for GSTR-5A for April 2025? The due date for filing GSTR-5A for the month of April 2025 is: 20th May 2025 (Monday) This deadline is applicable to all non-resident OIDAR service providers who supply taxable services to individuals or entities in India and are registered under GST. 🧾 What is GSTR-5A? GSTR-5A is a monthly return that needs to be filed by non-resident online service providers (without a physical presence in India) who offer OIDAR services such as: Online advertisements Cloud-base...