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February 15, 2021

Know Income Tax and GST Due dates for Year 2021

by CA Shivam Jaiswal in GST, Income Tax

Know Income Tax & GST Due dates for Year 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 FY 2021-22. This article will aid in providing information of all the required compliances, thus making your life a little bit easier this year.

Income Tax Compliances for FY 2021-22

CompliancePeriodDue Date
Income Tax Return (ITR)Annual31st July of the next FY
Tax Audit ReportAnnual30th September of the next FY
Belated ITRAnnual31st December of the next FY
Revised ITRAnnual31st December of the next FY
Monthly deposit of tax deducted/collected (TDS/TCS)Monthly7th of the next month
Details of TCS (27EQ)Q115th July
Details of TCS (27EQ)Q215th October
Details of TCS (27EQ)Q315th January
Details of TCS (27EQ)Q415th May
Details of TDS (24Q/26Q)Q131st July
Details of TDS (24Q/26Q)Q231st October
Details of TDS (24Q/26Q)Q331st January
Details of TDS (24Q/26Q)Q431st May
Payment of 15% Advance TaxQ115th June
Payment of 45% Advance TaxQ215th September
Payment of 75% Advance TaxQ315th December
Payment of 100% Advance TaxQ415th March
Statement of Financial TransactionsAnnual31st May of the next FY

GST Compliances for FY 2021-22

CompliancePeriodDue Date
Taxpayers who opted for Monthly GSTR 1 (Summary of outward supplies where turnover exceeds Rs 1.5 crore)Monthly11th of next month
Taxpayers who opted for Monthly GSTR-3B having principal place of business in All States and UTsMonthly20th of the next month
Taxpayers who opted for Quarterly GSTR-3B having principal place of business in States of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana and Andhra Pradesh, the Union territories of Daman and Diu, Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and LakshadweepQuarterly22nd of the month following the quarter
Taxpayers who opted for Quarterly GSTR-3B having principal place of business in States of Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha, the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and DelhiQuarterly24th of the month following the quarter
Taxpayers who have opted for quarterly filing have to upload details in Invoice Furnishing Facility (IFF)Monthly13th of the next month
Taxpayers who opted for Quarterly GSTR 1Quarterly13th of the month following the quarter
Payment of GST in PMT – 6 (only if tax is payable monthly)Monthly25th of next month
Annual Return in GSTR 9 with reconciliation for those having turnover exceeding Rs 2 croreAnnual31st of December of the following financial year
Filing of GSTR-6 by Input Service DistributorsMonthly13th of the next month
GSTR 7 (Summary of Tax Deducted at Source (TDS) and deposited) Monthly10th of the next month
GSTR 8 (Summary of Tax Collected at Source (TCS) and deposited by e-commerce operators)Monthly10th of the next month
GSTR 5 (Non-Resident Foreign Taxpayers) Monthly FilingMonthly20th of the next month
GSTR 5A (Non-Resident OIDAR Service Provider) Monthly FilingMonthly20th of the next month
Filing of CMP-08 by Composition DealerQuarterly18th of the month following the quarter
Filing of Annual Return by Composition Dealer in GSTR 4Annual30th of April of the following financial year

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