Major Compliance Requirements Under Income Tax India

Monthly

1.

Monthly Deposit of TDS or TCS

ITNS-281

7th of the following month
(In case of March, 30th April)

Quarterly

2.

Payment of advance tax

ITNS-280

15th June (15% of Advance Tax), 15th September (45% of Advance Tax), 15 December (75% of Advance Tax) and 15th March (100% of Advance Tax)

Note: Due date will be 31st March for the assessee opting for presumptive taxation.

Advance tax is required to be paid in case the estimated total tax liability is Rs. 10,000 or more

3.

Filing of TDS return

24Q (Salary)

26Q (Other than salary)

27Q (Non-resident Indian)

by 30th/31st of the month following the quarter. By 31st May for quarter ending March

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4.

Issuance of TDS Certificate

Form 16 (Salary)
Form 16A (other than Salary)

by 15th of the month following the due date of filing of TDS return

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5.

Filing of TCS return

27EQ

15th of the month following the quarter

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6.

Issuance of TCS Certificate

27D

by 15th of the month following the due date of filing of TCS return

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7.

Return by banking company/ public company/ co-operative society regarding non-deduction of tax at source

26QAA

31st of the -month following the quarter

Annually

1.

Income Tax Return

By 31st October/ 30th November of the following year as applicable.

31st October: Assessee on whom Tax Audit is applicable, provided they have duly filed Tax Audit Report by 30th September

30th November: Assessee who are required to furnish transfer pricing report, provided they have duly filed their Tax Audit Report and Transfer Pricing report by 31st October

2.

Tax Audit and filing of Tax Audit report

By 30th September/ 31st October of the following year as applicable

To be done by a chartered accountant in practice if gross receipts exceed the following limits:

Rs. 1 Crore: in case of business

Rs. 50 Lacs: In case of profession

Rs. 10 Crore (applicable from AY 2022-23): For business whose aggregate of all receipts in cash does not exceed 5% of such receipts during the previous year and aggregate of all payments in cash does not exceed 5% of such payment during the previous year

3.

Preparation and filing of transfer pricing study and accountant certificate, if applicable

By 31st October of the following year.

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Others

1.

Furnishing of challan cum statement in respect of TDS under section 194-IA/IB

26QB/26QC

Within 30 days from the end of the month in which the deduction is made

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