Know all Income Tax and GST compliance due dates for month of January 2021
Adhering to tax-related compliance proposed by the Indian government is mandatory for taxpayers in India. Non-compliance with due dates of GST return filing as well as income tax-related rules may result in imposing of heavy penalties by the government for taxpayers in India. Tax compliances have been difficult especially in the COVID period where importance for foremost given to human health and safety. Given below are all the GST and Income Tax related compliances for January 2021. This article will aid in providing information of all the required forms to be filed, thus making your life a little bit easier this new year.
Income Tax Compliances for January 2021
| Due Date | Particulars |
| 7thJanuary | Due date for deposit of tax deducted/collected for the month of December 2020 |
| 7thJanuary | Due date for deposit of TDS for the period October 2020 to December 2020 when Assessing Officer has permitted quarterly deposit of TDS under section 192, section 194A, 194D or 194H |
| 10th January | Return of income for AY 2020-21 for all assessee other than: corporate-assessee ornon-corporate assessee (whose books of account are required to be audited) orpartner of a firm whose accounts are required to be audited oran assessee who is required to furnish a report under section 92E. |
| 14thJanuary | Due date for issue of TDS Certificate for tax deducted under Section 194-IB, Section 194-IA and Section 194M in the month of November, 2020 |
| 15thJanuary | Due date for furnishing of various audit reports including tax audit report and report in respect of international/specified domestic transaction for AY 2020-21 |
| 15thJanuary | Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of December, 2020 has been paid without the production of a challan |
| 15thJanuary | Quarterly statement of TCS for the quarter ending December 31, 2020 |
| 15thJanuary | Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending December, 2020 |
| 15thJanuary | Due date for furnishing of Form 15G/15H declarations received during the quarter ending December, 2020 |
| 30thJanuary | Due date for furnishing of challan-cum-statement in respect of tax deducted under Section 194-IB, Section 194-IA and Section 194M in the month of December, 2020 |
| 30thJanuary | Quarterly TCS certificate in respect of quarter ending December 2020 |
| 31st January | Quarterly statement of TDS for the quarter ending December 2020 |
| 31st January | Quarterly return of non-deduction at source by a banking company from interest on time deposit in respect of the quarter ending December 2020 |
| 31st January | Intimation under section 286(1) in Form No. 3CEAC, by a resident constituent entity of an international group whose parent is non-resident |
| 31st January | Furnishing of declaration to opt for Vivad se Vishwas Scheme. |
GST Compliances for January 2021
| Due Date | Particulars |
| 10th January | Monthly GSTR 7 (Summary of Tax Deducted at Source (TDS) and deposited) for December 2020 |
| 10th January | Monthly GSTR 8 (Summary of Tax Collected at Source (TCS) and deposited by e-commerce operators) for December 2020 |
| 11th January | Monthly GSTR 1 for December 2020 (Summary of outward supplies where turnover exceeds Rs 1.5 crore) |
| 13th January | Quarterly Filing of GSTR-1 by registered person with an aggregate turnover up to Rs 1.5 crore for October to December 2020 |
| 13th January | Filing of GSTR-6 by Input Service Distributors for the Month December 2020. |
| 18th January | Filing of CMP-08 for quarter of October to December 2020 |
| 20th January | Form GSTR 3B for December 2020 for taxpayers having an aggregate turnover of more than Rs 5 crores |
| 20thJanuary | GSTR 5 (Non-Resident Foreign Taxpayers) Monthly Filing Due Date for December 2020 |
| 20thJanuary | GSTR 5A (Non-Resident OIDAR Service Provider) Monthly Filing Due Date for December 2020 |
| 22nd January | Form GSTR 3B for December 2020 for Group 1* taxpayers having an aggregate turnover up to Rs 5 crores |
| 24thJanuary | Form GSTR 3B for December 2020 for Group 2* taxpayers having an aggregate turnover up to Rs 5 crores |
*Note:
Group 1 includes Taxpayers whose principal place of business is in Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands or Lakshadweep.
Group 2 includes Taxpayers whose principal place of business is in Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha, the Union territories of Jammu and Kashmir, Ladakh, Chandigarh or Delhi.
Some Other Compliances:
| Due Date | Particulars |
| 15th January | ESIC Payment for December 2020 |
| 15th January | PF Payment for December 2020 |
| 29th January | AOC-4 if the Annual General Meeting (AGM) of FY 2019-20 was held 31.12.2020 |
