Income tax

Deadlines for Income Tax and GST Compliance: January 2025

In January 2025, be ahead of your tax and GST responsibilities. In order to ensure timely filings and prevent penalties, this thorough guide assists taxpayers and businesses in keeping track of the important deadlines for income tax and GST compliance. Find out when TDS deposits, ITR filings, GST returns, and other important dates are due.

Businesses and taxpayers must synchronize their compliance with statutory duties at the start of the year. A number of significant dates pertaining to India's income tax and goods and services tax (GST) are approaching in January 2025. These due dates are described in detail in this blog, which also offers a thorough guidance to guarantee adherence and prevent fines.

Income Tax Compliance Deadlines

Date	Compliance
7th January	Due date for TDS deposit for December 2024.
15th January	Quarterly TDS Certificate (Form 27D) for tax collected at source for Q3 FY 2024-25. Submission of Form 15G/15H declarations for Q3 FY 2024-25.
30th January	Quarterly statement of TDS/TCS deposited (Forms 24Q, 26Q, 27Q, 27EQ) for Q3 FY 2024-25.
31st January	Audit report for specified entities (Form 3CEB) for AY 2024-25. Belated or revised ITR filing for AY 2024-25. Submission of Form No. 10-IC for companies opting for concessional tax rates under Section 115BAA.

GST Compliance Deadlines

Date	Compliance
10th January	Filing of GSTR-7 (TDS under GST) and GSTR-8 (TCS by e-commerce operators) for December 2024.
11th January	GSTR-1 filing for taxpayers with turnover above ₹5 crore for December 2024.
13th January	Invoice Furnishing Facility (IFF) for B2B invoices under QRMP scheme for December 2024.
20th January	GSTR-3B filing for taxpayers with turnover above ₹5 crore for December 2024.
22nd January	GSTR-3B filing (QRMP scheme) for taxpayers in specific states (Chhattisgarh, Madhya Pradesh, etc.).
24th January	GSTR-3B filing (QRMP scheme) for taxpayers in other states not covered on 22nd January.
31st January	GSTR-9 (Annual Return) for taxpayers with turnover above ₹2 crore for FY 2023-24. GSTR-9C (GST Audit and Reconciliation Statement) for FY 2023-24.

Important Things to Keep in Mind

Make Sure Payments Are Made on Time: Pay bills and file returns well in advance of the due dates to avoid interest and penalties.
Cross-Verify Data: Prior to submitting returns, confirm that invoices and other transactional information are accurate.
Keep Up: Keep an eye out for any updates or extensions from the Income Tax Department and the GST portal on a regular basis.
Engage Experts: For guidance on complicated compliance needs, engage tax consultants or chartered accountants.

In Conclusion

For corporate operations to run smoothly and fines to be avoided, tax deadline compliance is essential. Taxpayers must carefully prepare and firmly adhere to the January 2025 deadlines for both income tax and GST. Meeting these responsibilities can be made easier by utilizing technology, such as tax software and automated reminders.

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Note-All the aforementioned information in the article is taken from authentic resources and has been published after moderation. Any change in the information other than fact must be believed as a human error. For queries mail us at marketing@myitronline.com

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Krishna Gopal Varshney

An editor at apnokaca

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Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.

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