These Income Tax & GST due dates will help you in keeping track of the compliances for January 2021.
As the new year arrives, we make resolutions mostly related to our health which we aim to achieve in that year. Having stating that, from this New Year of 2021, make an extra resolution to abide by all the compliances and regulations. Doing so will not just keep your health good but will also keep your future secured by not paying extra penalties and fines.
Income tax compliances for January, 2021
Income Tax compliances for January involve the following:
– Firstly, payment & collection of TDS/TCSÂ
– Secondly, filing of Income Tax Returns for taxpayers not requiring tax audit
– Thirdly, filing of audit report
– Fourthly, filing of quarterly statement of TCS deposited for the quarter ending December 31, 2021
– Fifthly, filing of quarterly statement of TDS deposited for the quarter ending December 31, 2021
– Lastly, the last date for making declaration under Vivad Se Vishwas Scheme.
Income Tax Due Dates for January, 2021
The due dates for various compliances under Income Tax for the first month – January 2021 are as follows:
| Period | Form to be filed | Particulars | Due Date |
|---|---|---|---|
| December 2020 | Challan No. ITNS-281 | Payment of TDS/TCS deducted /collected in May 2021. | 07.01.2021 |
| AY 2020-2021 | Income Tax Return | Income Tax Return for taxpayers not requiring audit | 10.01.2021 |
| AY 2020-21 | Self Assessment Tax | Self assessment tax for small & middle taxpayers for tax liability upto Rs. 1 lac | 10.01.2021 |
| AY 2020-21 | Audit Report | Filing of Audit Report | 15.01.2021 |
| December 2020 | TCS | Quarterly statement of TCS deposited for the quarter ending December 31, 2020 | 30.01.2021 |
| – | Vivaad Se Vishwas Scheme | Last date for making declaration under Vivaad Se Vishwas Scheme | 31.01.2021 |
| December 2020 | TDS Certificate | Quarterly statement of TDS deposited for the quarter ending December 31, 2020 | 31.01.2021 |
GST compliances for January, 2021
The GST compliances for January, 2021 are as follows:
– Firstly, GST Return for TDS
– Secondly, GST return for e-commerce operator required to deduct TCS.
– Thirdly, GST return for taxpayers having an aggregate turnover of more than Rs. 1.50 crore or who have opted to file monthly returns
– Fourthly, GST return for taxpayers who have opted for QRMP scheme.
– Fifthly, GST return for Input Service Distributor
– Sixthly, GST return for those who have opted for composition scheme
– Seventhly, GST return for NRI and registered persons providing ODIAR services
– Eighthly, GST return for taxpayers having annual turnover of more than Rs. 5 crores.
– Ninthly, filing of quarterly GST return for
taxpayers falling in Part A states
– Lastly, filing of GST return for taxpayers falling in Part B states.
Also Read: Qualifications for GST Registration
GST due dates
Keeping in view, the above compliances, the due dates for GST compliances are as follows:
| Period | Form to be filed | Description | Due date |
|---|---|---|---|
| December 2020 | GSTR-7 | GSTR 7 is a return to be filed by the persons who is required to deduct TDS (Tax deducted at source) under GST | 10.01.2021 |
| December 2020 | GSTR-8 | GSTR-8 is a return to be filed by the e-commerce operators who are required to deduct TCS (Tax collected at source) under GST. | 10.01.2021 |
| December 2020 | GSTR-1 | Taxpayers having an aggregate turnover of more than Rs. 1.50 Crores or opted to file Monthly Return | 11.01.2021 |
| October – December 2020 | GSTR-1 | Taxpayers having an aggregate turnover of less than Rs. 1.50 Crores or opted to file Quarterly Return | 13.0.2021 |
| December 2020 | GSTR-6 | GSTR-6 is to be filed by Input Service Distributors | 13.01.2021 |
| October – December 2020 | GSTR-4 | GSTR-4 is to be filed by Composition Scheme holders | 18.01.2021 |
| December 2020 | GSTR 5 & 5A | Non-Resident Taxpayers and ODIAR services provider | 20.01.2021 |
| December 2020 | GSTR-3B | Taxpayers having an aggregate turnover of more than Rs. 3 Crores or opted to file Monthly Return | 20.01.2021 |
| December 2020 | GSTR-3B | Taxpayers falls in Part A States | 22.01.2021 |
| December 2020 | GSTR-3B | Taxpayers falls in Part B States | 24.01.2021 |
Part A states under GST are Chhattisgarh, Madhya Pradesh, Gujarat, Daman & Diu, Dadra & Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman & Nicobar Islands, Andhra Pradesh and Telangana
Whereas, States under Part B are Jammu & Kashmir, Ladakh, Himachal Pradesh, Punjab, Chandigarh, Delhi, Haryana, Rajasthan, Uttar Pradesh, Uttarakhand, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha.
So mark your calendar for the month of January!
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