Upcoming Tax Deadlines for March 2025: Income Tax & GST Filing Guide

Introduction

For both people and corporations to avoid fines and maintain efficient financial operations, tax compliance is an essential duty. There are a number of income tax and goods and services tax (GST) obligations that must be met in March 2025. To assist taxpayers in staying on track, this blog offers a thorough analysis of important tax compliance dates.

Deadlines for Income Tax Compliance: March 2025

1. The date by which the Challan-cum-Statement for TDS Deducted Under Section 194-IA must be furnished

• Date of Due: March 2, 2025
• Details: Taxpayers who deducted TDS on payments associated with the purchase of immovable property in January 2025 under Section 194-IA are required to submit their challan-cum-statement by this date.

2. Challan-cum-Statement for TDS Deducted Under Section 194-IB Due Date

• Date of Due: March 2, 2025
• Details: Taxpayers are required to submit the appropriate challan-cum-statement if they have deducted TDS under Section 194-IB (on rent payments exceeding certain limitations) in January 2025.

3. The date by which the Challan-cum-Statement for TDS Deducted Under Section 194M must be furnished

• Date of Due: March 2, 2025
• Details: By this date, taxpayers who are deducting TDS under Section 194M (for payments made to professionals or contractors by individuals or HUFs) in January 2025 must finish their filing.

4. The February 2025 TDS Payment Due Date

• Deadline: March 7, 2025
• Details: TDS that was withheld from salaries, interest, professional fees, and other items in February 2025 must be deposited by employers and other deductors.

5. Deadline for Advance Tax Payment (Q4 FY 2024–25)

• Deadline: March 15, 2025
• Details: For the fiscal year 2024–2025, this is the final advance tax payment. Businesses and salaried people who are required to pay advance tax are among the taxpayers who must make sure that payments are made on time.

6. The February 2025 TDS filing

• Deadline: March 30, 2025
• Details: In February 2025, deductibles must submit their TDS returns, which must include payments to professionals, vendors, and workers.

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Deadlines for GST Compliance: March 2025

1. February 2025 GSTR-1 Filing (For Monthly Filers)

• Deadline: March 11, 2025
• Details: Companies that choose to file monthly or have an annual turnover of more than Rs. 5 crore are required to submit GSTR-1 for outgoing supply.

2. GSTR-3B February 2025 Filing

• Deadline: March 20, 2025
• Details: Businesses with a revenue of more than Rs. 5 crore have until this date to file GSTR-3B, the summary report for GST obligations.

3. Filing GSTR-5 and GSTR-5A (For OIDAR Services and Non-Resident Taxable Persons)

• Deadline: March 20, 2025
• Details: Online Information and Database Access or Retrieval (OIDAR) service providers and non-resident taxable people are required to file their returns.

4. FY 2023–2024 GSTR-9 & GSTR-9C

• Deadline: March 31, 2025
• Details: The annual reports (GSTR-9) and reconciliation statements (GSTR-9C) for FY 2023–2024 must be filed by this date.

5. Composition Taxpayers' CMP-08 (Quarterly Filing)

• Deadline: March 31, 2025
• Details: In accordance with the composition scheme, taxpayers are required to file CMP-08 for the January–March 2025 quarter and make the appropriate tax payments.

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Important Lessons for Taxpayers

• Put significant tax due dates on your calendar to prevent last-minute scrambling and fines.
• By timely submitting and depositing returns, you may guarantee TDS compliance.
• Businesses that are GST-registered are required to follow the filing guidelines, particularly for GSTR-1, GSTR-3B, and yearly reports.
• To prevent interest costs, advance tax payments should be scheduled in advance.

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Conclusion

Businesses and individuals may guarantee seamless financial operations and steer clear of needless fines by adhering to tax laws. For a hassle-free experience, use online tax filing platforms or seek expert advice if you want assistance with tax filing.

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