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📅 Due Date : 15th June 2025 📂 Applicable Period : For TDS/TCS payments made without challan in May 2025 📌 What is Form 24G? Form 24G is a monthly statement that must be filed by government offices where TDS (Tax Deducted at Source) or TCS (Tax Collected at Source) has been deposited without producing a challan , i.e., through book adjustments. This form helps the Pay and Accounts Office (PAO)/District Treasury Office (DTO)/Cheque Drawing and Disbursing Officer (CDDO) report TDS/TCS details correctly to the Income Tax Department for centralized processing. ⚠️ Why is Form 24G Important? Failing to submit Form 24G on time can lead to: Delays in crediting TDS/TCS to deductees Mismatch in 26AS or AIS Compliance issues with the Income Tax Department Unwanted scrutiny or penalties ✅ Who Should File It? This is mandatory for all Government offices who: Deducted TDS/TCS during May 2025 Deposited it without challan (i.e., through book adjustment) Exam...

In the dynamic world of taxation and compliance, staying up to date with due dates is critical to avoid penalties and ensure smooth financial operations. One such key deadline for taxpayers and deductors is fast approaching. 🧾 TDS Certificate Due Date for April 2025 The due date for issuing TDS certificates for tax deducted under the following sections is 14th June 2025 : Section 194-IA – TDS on the transfer of immovable property Section 194-IB – TDS on rent paid by individuals/HUF (not liable to tax audit) Section 194M – TDS on payments made to contractors, professionals, etc. by individuals/HUF (not liable to tax audit) Section 194S – TDS on payment for the transfer of virtual digital assets (VDAs or cryptocurrencies) This deadline applies for TDS deducted during the month of April 2025 . ✅ Why Issuing TDS Certificates Is Crucial TDS certificates are formal documents that confirm the deduction of tax at source and its subsequent deposit with the government. ...

As the income tax filing season picks up pace, certain regulatory filings become critical for investment funds. One such important compliance requirement is the filing of Form No. 64D under the Income Tax Act, 1961. The due date for filing Form 64D for FY 2024-25 is 15th June 2025 . In this article, we’ll break down what Form 64D is, who needs to file it, the consequences of missing the deadline, and how Taxla Services can assist you in staying compliant. 📌 What is Form No. 64D? Form 64D is a statement of income paid or credited by an investment fund to its unit holders , submitted to the Income Tax Department under Section 115UB of the Income Tax Act. It provides details such as: Income earned by the fund during the financial year, Income distributed to unit holders, Tax deducted at source (TDS), if applicable, And other relevant information. 👥 Who Needs to File Form 64D? Form 64D is to be filed by the investment fund , which includes: Category I & ...

GST compliance is essential—not just for avoiding penalties, but for maintaining smooth business operations. As we approach 13th June 2025 , here are two important filing deadlines you should not miss: 📌 GSTR-5 Filing for May 2025 Who should file? 🔸 Non-resident taxable persons (NRTPs) who have conducted taxable transactions in India during May 2025. What it includes: Details of outward taxable supplies Tax liability and payments Any amendments from previous tax periods 💡 Note: Since NRTPs do not have a fixed place of business in India, timely filing of GSTR-5 is mandatory before leaving the country or monthly by the due date—whichever is earlier. 📌 GSTR-6 Filing for May 2025 Who should file? 🔸 Input Service Distributors (ISDs) Purpose: Declare inward supplies received Distribute eligible Input Tax Credit (ITC) to respective branches or units Benefits of Timely GSTR-6 Filing: ✔ Ensures accurate ITC distribution across your company’s GSTINs ✔ Help...

For many small businesses, managing GST compliance can feel like a constant race against the clock. If you're a small taxpayer registered under the Quarterly Return Monthly Payment (QRMP) scheme , there's a crucial deadline approaching that you absolutely need to be aware of: June 13th, 2025 , for filing your Invoice Furnishing Facility (IFF) for May 2025. What is the IFF? The Invoice Furnishing Facility (IFF) is a mechanism provided to taxpayers under the QRMP scheme. It allows them to upload their Business-to-Business (B2B) invoice details on a monthly basis, even though they file their main GSTR-1 return quarterly. The primary benefit of using the IFF is that it enables your recipients to claim Input Tax Credit (ITC) on a monthly basis, improving cash flow and reducing their compliance burden. Why is the IFF Important for QRMP Taxpayers? While the QRMP scheme simplifies compliance by requiring GSTR-1 and GSTR-3B to be filed quarterly, the IFF ensures that your buyers don...

As part of your monthly GST compliance responsibilities, it’s time to file GSTR-1 for the month of May 2025 . The due date is 11th June 2025 , and all eligible taxpayers are urged to ensure timely submission to avoid late fees and compliance issues. Let’s break down the key information: 🧾 What is GSTR-1? GSTR-1 is a monthly/quarterly return that contains details of all outward supplies (sales) made by a registered taxpayer under GST. It is mandatory for most businesses and serves as the basis for the recipient to claim Input Tax Credit (ITC). 📌 Who Needs to File GSTR-1 for May 2025? You are required to file GSTR-1 for May 2025 by 11th June 2025 if: 🔹 Your aggregate annual turnover exceeds ₹5 crore , OR 🔹 You have not opted for the QRMP (Quarterly Return Filing and Monthly Payment) scheme for the quarter April–June 2025. 📊 Why Timely Filing is Crucial? Timely filing of GSTR-1 ensures: ✔️ Proper reflection of sales in your buyer's GSTR-2A/2B ✔️ Sm...

The Ministry of Corporate Affairs (MCA) has announced a major digital transition in its compliance ecosystem with the final rollout of 38 company forms on the V3 Portal , scheduled for 14th July 2025 . This move aims to simplify and digitize corporate filings, promoting greater transparency and efficiency for businesses across India. Here’s a complete breakdown of what to expect and how you can prepare. 🗓️ Key Transition Dates You Shouldn't Miss To ensure a smooth shift from the older V2 system to the newer V3 platform, the MCA has laid out a clear transition timeline: 🔸 8th June 2025: The “Pay Later” option on the V2 portal will be disabled . Users must complete payments during filing to avoid disruptions. 🔸 17th June 2025: Deadline to upload investor/subsidiary details as mandated under the new filing requirements. 🔸 18th June 2025: All filings on the V2 Portal will cease . Companies must transition to V3 for future filings. 🔸 9th to 13th July 2025: ...