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February 5, 2021

Know Income Tax and GST Due Dates for the month of February 2021

by CA Shivam Jaiswal in GST, Income Tax

Know Income Tax and GST Due Dates for the month of February 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 February 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 month.

Income Tax Compliances for February 2021

Due DateParticulars
7thFebruaryDue date for deposit of tax deducted/collected for the month of January 2021
14thFebruaryDue date for issue of TDS Certificate for tax deducted under Section 194-IB, Section 194-IA and Section 194M in the month of December, 2020
15thFebruaryDue date for filing of return of income for the assessment year 2020-21 if the assessee is: 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 orrequired to submit a report under section 92E pertaining to international or specified domestic transaction(s)
15thFebruaryDue date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of January, 2021 has been paid without the production of a challan
15thFebruaryQuarterly statement of TDS (in respect of tax deducted for payments other than salary) for the quarter ending December 31, 2020

GST Compliances for February 2021

Due DateParticulars
10thFebruaryMonthly GSTR 7 (Summary of Tax Deducted at Source (TDS) and deposited) for January 2021
10th FebruaryMonthly GSTR 8 (Summary of Tax Collected at Source (TCS) and deposited by e-commerce operators) for January 2021
11thFebruaryMonthly GSTR 1 for January 2021 (Summary of outward supplies where turnover exceeds Rs 1.5 crore)
13thFebruaryFiling of GSTR-6 by Input Service Distributors for the Month January 2021.
20thFebruaryForm GSTR 3B for January 2021 for taxpayers having an aggregate turnover of more than Rs 5 crores
20th FebruaryGSTR 5 (Non-Resident Foreign Taxpayers) Monthly Filing Due Date for January 2021
20th FebruaryGSTR 5A (Non-Resident OIDAR Service Provider) Monthly Filing Due Date for January 2021
22ndFebruaryForm GSTR 3B for January 2021 for Group 1* taxpayers having an aggregate turnover up to Rs 5 crores
24thFebruaryForm GSTR 3B for January 2021 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

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