As we approach the first quarter of the year, it’s essential for businesses to stay on top of crucial financial and tax-related deadlines. Below is a list of key upcoming events and dates that every company should be aware of to ensure compliance and avoid any penalties.

1. GST Filing Deadlines:

• GST Return (GSTR-1) Filing: The due date for filing GSTR-1 for businesses with an aggregate turnover above ₹5 crores is the 11th of every month. For businesses with a turnover below ₹5 crores, the due date is 13th of every month.
• GSTR-3B Filing: Businesses must file GSTR-3B returns by the 20th of every month. This is the monthly summary of outward and inward supplies.
• Annual GST Return (GSTR-9): The deadline for filing GSTR-9, which is the annual return for GST, is 31st December of the following financial year.

2. Income Tax Return (ITR) Filing Deadlines:

• ITR for Companies (Form ITR-6): The due date for filing the income tax return for companies is typically 30th September of the assessment year. However, extensions may apply depending on the circumstances.
• Tax Audit Reports: If your company requires a tax audit, the audit report needs to be filed along with ITR by 30th September.
• TDS Returns: Ensure timely filing of TDS (Tax Deducted at Source) returns. These are generally due on the 7th of the following month after the deduction.

3. Annual Return Filing for Companies (ROC Returns):

• Form AOC-4 (Financial Statement Filing): Companies are required to file their financial statements with the Registrar of Companies (ROC) within 30 days from the date of the Annual General Meeting (AGM).
• Form MGT-7 (Annual Return): This needs to be filed with ROC within 60 days from the date of AGM. The AGM must be held within 6 months from the end of the financial year.

4. Tax Payment Deadlines:

• Advance Tax: Companies must pay advance tax in installments on 15th June, 15th September, 15th December, and 15th March for the respective financial year.
• Self-Assessment Tax: Any outstanding tax after the regular filings should be paid before filing the final income tax return.

5. Other Key Compliance Deadlines:

• Transfer Pricing Documentation: Companies involved in international transactions must ensure their transfer pricing documentation is ready by 31st October.
• ESI and PF Contributions: Companies should ensure timely remittance of Employee State Insurance (ESI) and Provident Fund (PF) contributions, typically due by 15th of each month.

It’s crucial for businesses to stay organized and adhere to these deadlines to avoid unnecessary fines and penalties. Be sure to consult with your tax professionals or finance team to ensure all filings are completed on time.

Stay proactive, and make sure your company is on top of these important dates to ensure smooth financial and tax compliance throughout the year.