Save Yourself from Tax Summer Heat by Filing TDS and SFT returns before 31st May

CA Umesh Sharma | Last updated: 27 May 2025

Save Share

Quick Summary

As the summer heat intensifies, so does the tax season pressure. Taxpayers must file their TDS (Tax Deducted at Source) and SFT (Statement of Financial Transactions) returns by the 31st May deadline to avoid significant penalties. Non-compliance with TDS rules can lead to late fees, penalties, interest, and even disallowance of expenses. Similarly, failing to report financial transactions accurately under SFT can result in daily penalties and notices from tax authorities.

Arjuna (Fictional Character): Krishna, everyone from small businesses, banks to corporate seem to be quite busy during the last week of May. Which tax compliance or reporting matters are keeping the taxpayers busy? Krishna (Fictional Character): Arjuna, May month is the peak of the summer season in

Daily Limit Reached

You have reached your daily limit of 2 Free Articles

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Community
Daily E-Newsletter
Unlimited Articles Access
Profile Visitors
Link Social Profiles
Featured Job Posts
Pro Badge
Expert GST Guidance
Unlimited Forum Replies
Download Content in PDF

BEST VALUE

2 YEAR PLAN

3,499

(Excl. of GST ₹629)

1 YEAR PLAN

1,999

(Excl. of GST ₹359)

3 MONTHS PLAN

999

(Excl of GST ₹179)

View all CCI PRO benfits

Already a PRO member? Login here for an ad-free experience.

348 Views 1 Likes Comment Share Income Tax Report

About the Author

CA Umesh Sharma

Partner

Name: - UMESH RAMNARAYAN SHARMA. Residential Address: - 16, Motisagar, Samarthnagar, Aurangabad. Ph :- 2332846. Mobile:9822079900. Head Office Address: - R.B.Sharma Co. Chartered Accountants. Block No 7-10, 2nd Floor, Shangri-La Complex, Samarth Nagar, Aurangabad. Ph :- 2332511,2338388. Email:- rbsha ... Read more

View Articles

Comments :