📢 Income Tax Compliance Alert: Equalisation Levy Statement – FY 2024–25

🗓️ Due Date: 30th June 2025

As part of ongoing efforts to ensure fair taxation in the digital economy, the Government of India mandates the filing of the Equalisation Levy Statement for the Financial Year 2024–25. This applies particularly to companies and individuals receiving digital services or e-commerce transactions from non-resident entities.

🔍 What is the Equalisation Levy?

The Equalisation Levy was introduced under the Finance Act, 2016, with the intention of taxing digital transactions or services provided by non-resident entities.
It is applicable under two key sections:

  • Section 165: Levy @6% on specified services (like online advertisements) received by Indian businesses from non-resident service providers.

  • Section 165A: Levy @2% on the amount of consideration received or receivable by an e-commerce operator from e-commerce supply or services provided to Indian residents.

📌 Who Should File?

  • Indian businesses (companies, LLPs, individuals, etc.) availing services from non-resident digital service providers.

  • E-commerce operators liable under Section 165A.

  • Any assessee who has deducted and paid Equalisation Levy during FY 2024–25.

Filing is mandatory for all those to whom the provisions apply, even if there are no transactions during the year (in some cases, a NIL return may be required).

📝 Form to Be Filed

  • Form No. 1: This is the statement of specified services that must be submitted online via the Income Tax Portal.

  • Ensure all payment challans are correctly reconciled and reported.

🕒 Key Deadline

  • Form 1 must be filed by 30th June 2025 for FY 2024–25.

  • Late filing or non-filing attracts penalties under the Income Tax Act.

⚠️ Consequences of Non-Compliance

  • Penalty of ₹100 per day for delay in filing.

  • Interest on delayed payment of the levy.

  • Risk of disallowance of expenditure and further scrutiny by tax authorities.

✅ How Taxla Services Can Help

Navigating digital tax compliance can be technical and time-sensitive. With Taxla Services, you receive:

  • End-to-end assistance in preparation and filing of Form 1.

  • Review and verification of transaction details and levy payments.

  • Timely reminders and expert guidance to ensure 100% compliance.

📞 Get in Touch

Let us handle your compliance, while you focus on your business growth.

📱 Call/WhatsApp: +91 9600076134 / 6374812546
📧 Email: auditsiva2@gmail.com
🌐 Website: www.taxlaservices.com
📍 Visit Us: 19, SBI Colony 3rd Street, Saligramam, Chennai – 600093

#EqualisationLevy #IncomeTaxIndia #DueDateAlert #TaxFiling #TaxCompliance #TaxlaServices #ChennaiTaxExpert #DigitalTax #Section165A #OnlineTaxFiling #BusinessCompliance #DigitalEconomy





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