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1. Compliance requirement under Income Tax act, 1961

Corporate Compliance Calendar for the m/o November, 2021

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Compliance Particulars

Due Dates

1

Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for previous month.

07.11.2021

2.

Due date deposit of TDS for July-Sep. 2021u/s section 192, 194A, 194D or 194H.

07.11.2021

3

Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB and 194M in the month of September, 2021

14.11.2021

4

Due date of TDS Certificate in case of Tax deducted in case of other than salary for the quarter ending September, 2021

15.11.2021

5

Form 3BB is the monthly statement to be furnished by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of October 2021

15.11.2021

6

Due date of furnishing of Form 24G by an office of the Government where TDS/TCS for the month of October, 2021 has been paid without the production of a challan

15.11.2021

7

Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, 194-IB, 194-IM, in the month of October

30.11.2021

8

3CEAA is required to be Filed electronically with the Director General of Income Tax (Risk Assessment)

30.11.2021

9

To exercise option of safe harbour rules for International transaction by furnishing Form 3CEFA.

30.11.2021

10

To exercise option of safe harbour rules for Domestic transaction by furnishing Form 3CEFB.

30.11.2021

11

Statement of income distribution by Venture Capital Company or venture capital fund in respect of income Distributed during previous Year 2020-21 (Form No. 64)

30.11.2021

12

Due date for filing of statement of income distributed by business trust to unit holders during the financial year 2020-21.

30.11.2021

13

Statement to be furnished inForm No. 64Dby Alternative Investment Fund (AIF) to Principal CIT or CIT in respect of income Distributed(during previous year 2020-21)to units holders

30.11.2021

14

Submit copy of audit of accounts to the Secretary,Department of Scientific and Industrial Research in case company is eligible for weighted deduction under section35(2AB).

30.11.2021

15

Report to be furnished in Form 3CEB in respect of International transaction and specified domestic transaction.

30.11.2021

Income Tax Due Date - Extensions

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Nature of Extension

Provisions / Forms of IT Act 1961

Original Due Date

Extended Due Date

1

Uploading of the declarations received from recipients in Form No. 15G/15H during the quarter ending 30th June, 2021

Form No. 15G/15H

15.07.2021

30.11.2021

2

Intimation to be made by Sovereign Wealth Fund in respect of investments made by it in India in Form II SWF for the quarter ending on 30th June,2021,

Form II SWF

31.07.2021

30.11.2021

3

Intimation to be made by a Pension Fund in respect of each investment ) made by it in India in Form No. 10BBB for the quarter ending on 30th June,2021

Form No. 10BBB

31.07.2021

30.11.2021

Important Notifications – For the month of October - 2021

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Particulars of the Notification(s)

File No. / Circular No.

Link(s)

1.

The Income-tax(31st Amendment) Rules, 2021.

Notification No. 118/2021

Click Here

2.

Processing of returns with refund claims under section 143(1) of the Income-tax Act 1961 beyond the prescribed time limits in non-scrutiny cases - reg

F. No. 225/98/2020 - ITA-II

Click Here

3.

Income Tax Department conducts searches in Assam, Meghalaya and West Bengal

Press Release ID: 1762084

Click Here

4.

Seychelles’ Tax Inspectors Without Borders (TIWB) programme launched in partnership with India

Press Release ID: 1760883

Click Here

5.

TheIncome-tax(31st Amendment) Rules, 2021.

Notification No. 118/2021

Click Here

6.

Processing of returns with refund claims under section 143(1) of theIncome-tax Act 1961 beyond the prescribed time limits in non-scrutiny cases - reg

F. No. 225/98/2020 - ITA-II

Click Here

7

Income Tax Department conducts searches in Assam, Meghalaya and West Bengal

Press Release ID: 1762084

Click Here

8

Seychelles’ Tax Inspectors Without Borders (TIWB) programme launched in partnership with India

Press Release ID: 1760883

Click Here

9

Clarification regarding Section 36(1)(xvi i) of the Income-tax Act. 1961 inserted vide Finance Act. 2015

Circular No. 18 / 2021

Click Here

2. Compliance Requirement under GST, 2017

Filing of GSTR - 3B

A. Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY

Tax period

Due Date

No interest payable till

Particulars

October, 2021

20thNovember,

2021

-

Due Date for filling GSTR - 3B return for the month of June, 2021 for the taxpayer with Aggregate turnover exceeding INR 5 crores during previous year

B. Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group A)

Tax period

Due Date

No interest payable till

Particulars

October, 2021

22nd November,

2021

Due Date for filling GSTR - 3B return for the month of June, 2021 for the taxpayer with Aggregate turnover upto INR 5 crores during previous year and who has opted for Quarterly filing of GSTR-3B

Group A States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep

C. Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group B)

Tax period

Due Date

No interest payable till

Particulars

October, 2021

24thNovember,

2021

Group B States: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi

D. Filing Form GSTR-1

Tax period

Due Date

Remarks

Monthly return

(October, 2021)

11.11.2021

GST monthly return for the month of October, 2021 (GSTR 1) applicable for taxpayers with Annual Aggregate Turnover more than 1.50 Crore.

GST monthly return for the month of October, 2021 (GSTR 1) applicable for taxpayers with Annual Aggregate turnover less than 1.50 Crore and opted to file monthly Return.

E. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers

Form No.

Compliance Particulars

Timeline

Due Date

GSTR-5 & 5A

Non-resident ODIAR services provider file Monthly GST Return

20th of succeeding month

20.11.2021

GSTR -6

Every Input Service Distributor (ISD)

13th of succeeding month

13.11.2021

GSTR -7

Return for Tax Deducted at source to be filed by Tax Deductor

10th of succeeding month

10.11.2021

GSTR -8

E-Commerce operator registered under GST liable to TCS

10th of succeeding month

10.11.2021

F. GSTR - 1 QRMP monthly return

Form No.

Compliance Particulars

Timeline

Due Date

Details of outward supply-IFF

GST QRMP monthly return due date for the month of October, 2021 (IFF). Applicable for taxpayers with Annual aggregate turnover up to Rs. 1.50 Crore.

13th of succeeding month 

13.11.2021

G. GST Refund

Form No.

Compliance Particulars

Due Date

RFD -10

Refund of Tax to Certain Persons

18 Months after the end of quarter for which refund is to be claimed

Other Returns

Form No.

Compliance Particulars

Timeline

Due Date

CMP-08

GST Challan Payment for taxpayer, with aggregate turnover of less than INR 5Crores during preceeding year, who has opted for quarterly filing of returns.

GST Challan payment if No sufficient ITC available

25.11.2021

GST return for pending Period-Amnesty Scheme

Filing of Pending GST return with reduced penalty under Amnesty Scheme.

July, 2017 to April, 2021

From 01.6.2021 to 30.11.2021

(earlier due date was 31.08.2021)

 

Major Update

  • The taxpayers, who have registered at GST portal but have not yet furnished their Bank Account details, are required to update it at GST Portal through non-core amendment, within 45 days of first login henceforth.
  • GSTR-2B will be available in the afternoon of 14th as its generation commences after end of due date of GSTR-1/IFF filing on 13th.

GST UPDATES from 01.10.2021 to 31.10.2021

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Notification Particulars

Notification No.

Link(s)

1.

Resumption of Blocking of E-Way Bill (EWB) generation facility.

GSTN Circular No. 507

Click Here

2.

Clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 45th meeting held on 17th September, 2021 at Lucknow – reg.

163/19/2021-GST

Click Here

3.

Clarifications regarding applicable GST rates & exemptions on certain services.

164/2020/2021-GST

Click Here

4.

Availability of Input Tax Credit (ITC) for FY 2020-21

GSTN Circular No. 509

Click Here

5.

Ahmedabad, Surat becoming bogus GST billing hubs: Govt

News Article

Click Here

6

Seeks to amend Notification No 1/2017- Central Tax (Rate) dated 28.06.2017.

13/2021-Central Tax (Rate), dt. 27-10-2021

Click Here

7

Seeks to amend Notification No 1/2017- Integrated Tax (Rate) dated 28.06.2017.

13/2021- Integrated Tax (Rate), dt. 27-10-2021

Click Here

8

Clarifications regarding applicable GST rates & exemptions on certain services.

164/2020/2021-GST

Click Here

9

Advisory for taxpayers on Form GSTR-2B

GSTN Circular No. 510

Click Here

 

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