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A Handy Checklist of Various Compliances to Be Completed Till 31 July 2021

Due to the disastrous second wave of the Covid-19 pandemic, in order to reduce the compliance burden, the Income Tax Department, in accordance with the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TLA Act, 2020) has extended various due dates of compliances multiple times. Because of these notifications and circulars, many due dates have changed now. We are giving you a list of compliances that have to be completed on or before 31 July 21.

Income tax compliances

Exercising of option to withdraw the pending application

The Income-tax Settlement Commission has been abolished by the Finance Act 2021 with effect from 1st February 2021 and no application for settlement will be accepted from that date. Therefore option to withdraw pending application u/s 245M(1) before settlement commission to be in Form No. 34BB which is required to be exercised on or before 27th June 2021, may be exercised on or before 31st July 2021

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Annual Statement required to be furnished under sub-section (5) of section 9A of the Act

The Annual Statement is required to be furnished under sub-section (5) of section 9A of the Act by the eligible investment fund in Form No. 3CEK for the Financial Year 2020-21, which is required to be filed on or before 29th June 2021, may be furnished on or before 31st July 2021. 

Equalization Levy Statement in Form No. 1

The Equalization Levy Statement u/s 167 of Finance Act 2016 in Form No. 1 for the Financial Year 2020-21, which was required to be filed on or before 30th June 2021, may be furnished on or before 31st July 2021.

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Various Compliance Calendar in India

Quarterly Statement in Form No. 15CC

The Quarterly Statement in Form No. 15CC to be furnished by an authorized dealer in respect of foreign remittances made for the quarter ending on 30th June 2021, required to be furnished on or before 15th July 2021 under Rule 37 BB of the Income-tax Rules,1962, maybe furnished on or before 31st July 2021.

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Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64C

The Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64C for the Previous Year 2020-21, required to be furnished on or before 30th June 2021 under section 115UB read with Rule 12CB of the Income-tax Rules,1962, was extended to 15th July 2021 vide Circular No.9 of 2021, maybe furnished on or before 31st July 2021.

Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64D

The Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64D for the Previous Year 2020-21, required to be furnished on or before 15th June 2021 under Rule 12CB of the Income-tax Rules,1962, was extended to 30th June 2021 vide Circular No.9 of 2021, maybe furnished on or before 15th July 2021.

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Certificate of Tax Deducted at Source in Form No.16

The Certificate of Tax Deducted at Source in Form No.16, required to be furnished to the employee by 15th June 2021 under section 203 read with Rule 31 of the  Income-tax Rules,1962, was extended to 15th July 2021 vide Circular No.9 of 2021, maybe furnished on or before 31st July 2021.

Statement of Deduction of Tax for the last quarter of the Financial Year 2020-21

The Statement of Deduction of Tax for the last quarter of the Financial Year 2020-21, required to be furnished on or before 31st May 2021 under section 200 read with Rule 31 A of the Income-tax Rules,1962, was extended to 30th June 2021 vide Circular No.9 of 2021, maybe furnished on or before 15th July, 202

Compliance is the byproduct of doing things right, at the right time

Some more due dates in various laws

S No. Compliance particulars Due Date
1 Due date of depositing TDS/ TCS deducted/ collected for the previous month in challan form ITNS 281 7.7.21
2 Due date of depositing TDS/ TCS deducted/ collected for the quarter ended June 21 u/s 192,194A,194D,194H, 206(C) in challan form ITNS 281 7.7.21
3 Submission of declaration for no TCS u/s 206C(1A) obtained from manufacturer to the Commissioner/Chief Commissioner of Income Tax as the case may be in form No. 27C 7.7.21
4 Payment on transfer of certain immovable property other than agricultural land in form No. 26QB 7.7.21
5 Extended Due date of filing of TDS return for TDS deducted during Q4 of FY 2020-21. The due date for furnishing the quarterly statement of TDS has been extended from May 31, 2021, to June 30, 2021 (vide Circular no. 9/2021, dated 20-05-2021), now it is again changed to July 15, 2021 15.7.21
6 The due date for the issue of the TDS Certificate for tax deducted under sections 194-IA, 194-IB, and 194M in the month of April 2021 15.7.21
7 TDS certificate to employees in respect of salary paid (extended date vide Circular no. 9/2021, dated 20-05-2021) 15.7.21
8 Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for the quarter ending June 2021 15.7.21
9 Quarterly statement of TCS deposited for the 1st Quarter 15.7.21
10 The due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, 194-IB, 194M for the month of June 2021 31.7.21
11 The due date for issuance of TCS Certificate for Q1 of FY 2020-21 31.7.21
12 Quarterly statement of TDS deposited 31.7.21
13 Certificate of TDS in respect of tax deducted for payments 

other than salary (Further extension of due date from July 15, 2021, to July 31, 2021)

31.7.21
14 Due Date for filing GSTR – 3B return for the month of June 2021 for the taxpayer with Aggregate turnover exceeding INR 5 crores during the previous year 20.7.21
15 Due Date for filing GSTR – 3B return for the quarter ending June 2021 for the taxpayer with Aggregate turnover up to INR 5 crores during the previous year and who has opted for Quarterly filing of GSTR-3B

(Group A  states)

22.7.21
16 Due Date for filing GSTR – 3B return for the quarter ending June, 2021 for the taxpayer with Aggregate turnover up to INR 5 crores during the previous year and who has opted for Quarterly filing of GSTR-3B

(Group B states)

24.7.21
17 1. Filing of GSTR 1 returns by a registered person with aggregate turnover exceeding INR 5 Crores for the month of June

2.Filing of GSTR 1 returns by a registered person, with aggregate turnover of less than INR 5 Crores, opted for monthly filing of return under QRMP for the month of June

11.7.21
18 Non-resident ODIAR services provider file Monthly GST Return

GSTR 5 and 5A

20.7.21
19 Every Input Service Distributor (ISD) GSTR 6 13.7.21
20 Return for Tax Deducted at source(GST) to be filed by Tax Deductor

GSTR 7

10.7.21
21 E-Commerce operators registered under GST liable to TCS 

GSTR 8

10.7.21
22 Details of the outward supply made. (IFF)Invoice furnishing facility is available for the registered person with turnover less than INR 5 Crores and opted for quarterly filing of return for the quarter ending June 21. 13.7.21
23 Due date of filing of GST CMP-08 for dealers opted for composition scheme.

Quarterly – April to June 2021

GST-CMP-08

The date was extended from 15.7.21 to 18.7.21

18.7.21
24 Annual return for dealers opted for Composition Scheme

GSTR 4

For F/y 20-21

31.7.21
25 Filing of Pending GST return with reduced penalty under Amnesty Scheme

July 2017 to April 2021

From 01.6.2021 to 31.08.2021
26 EPF (The Employees’ Provident Funds And Miscellaneous Provisions Act, 1952)  PF Payment in form ECR 15.7.21
27 ESIC (Employees’ State Insurance Act, 1948)

ESIC payment in ESIC challan

15.7.21
28 Annual Return on Foreign liabilities and assets.

The FLA return is required to be submitted by the companies who have received Foreign direct investment (FDI) and/or made Foreign direct investment abroad in the previous year(s) including the current year.

Under FEMA Act  FLA return through the Flair portal

15 July every year

SEBI compliances

Compliance Requirement under SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015

no. Regulation reference (Reg.) Compliance Particulars Timeline / Due Dates Quarter 1 (For the Quarter Ended June) Due Dates
1 27(2) Corporate Governance Report 21 days from the end of the quarter 21.7.21
2 13(3) Statement of Investor Complaints 21 days from the end of the quarter 21.7.21
3 31 (1) (b) Shareholding Pattern 21 days from the end of the quarter 21.7.21
4 32 & 33 Financial Results & Statement of deviation 45 days/60 days from the end of the quarter 14.8.21

 

SEBI (Depositories and Participants) Regulations 2018)

 

S No. Compliance Particulars Due date
1 Regulation 76 (Quarter, January – March 2021)

Reconciliation of Shares and Capital Audit

31.07.2021
2 Regulation 74 (5): Processing of Demat requests form by Issuer/RTAs – Certificate Received from Registrar 31.07.2021

 

LLP Compliance:

 

Applicable Laws/Acts Compliance Particulars Forms / Filing mode Due date
LLP Act, 2008 LLP Annual Filing- An annual statement for submitting details of the business of the LLP and its partners for the FY 2020-21 Form LLP-11 within 60 days from the closure of the financial year

(date extended till 31.07.2021)

 

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