A tax statutory and compliance calendar is a valuable tool for individuals and companies to stay organised, avoid penalties, plan for cash flow, minimise the risk of an audit, and take advantage of tax-related opportunities.
In this article, we share the tax statutory and compliance calendar for May 2023:
Important Statutory Due Dates for the May 2023 GST Returns | |||
| Due date | Form to be filed | Period | Who should file? |
| 10.05.2023 | GSTR 7 | April 2023 | The GSTR 7 is a return submitted by everyone who must deduct TDS (Tax Deducted at Source) under GST. |
| 10.05.2023 | GSTR 8 | April 2023 | The GSTR-8 is a return that must be filed by e-commerce businesses that are required to deduct TCS (Tax collected at source) under GST. |
| 11.05.2023 | GSTR 1 | April 2023 | Taxpayers who filed a monthly return or had an overall turnover of more than Rs. 1.50 crores |
| 13.05.2023 | GSTR 1 IFF (QRMP) | April 2023 | GST return for taxpayers who choose the QRMP programme (Opt-in) |
| 13.05.2023 | GSTR 6 | April 2023 | Input Service Distributors |
| 20.05.2023 | GSTR 5 5A | April 2023 | Non-Resident Taxpayers and ODIAR services provider |
| 20.05.2023 | GSTR 3B | April 2023 | The deadline for GSTR-3B returns with a yearly turnover of more than $5 million |
| 25.05.2023 | GST Challan | For all Quarterly filers | If there is not enough ITC for April (for all Quarterly Filers), GST Challan Payment is due. |
Important Statutory Due Dates for the May 2023 PF, ESI, and Income Tax Compliance | |||
| 07.05.2023 | Challan No. ITNS-281 | April 2023 | In April 2023, TDS/TCS was deducted from or collected. |
| 15.05.2023 | TDS Certificate | March 2023 | March 2023 is the deadline for issuing TDS Certificates for taxes deducted under Section 194IA. |
| 15.05.2023 | TDS Certificate | March 2023 | March 2023 is the deadline for issuing TDS Certificates for taxes deducted under Section 194IA. |
| 15.05.2023 | TDS Certificate | March 2023 | The March 2023 deadline for issuing TDS Certificates for taxes deducted under Section 194 M |
| 14.05.2023 | TDS Certificate | March 2023 | Date by which TDS Certificates must be issued for taxes collected under Section 194S in the month of March 2023 (applicable only to Specified Persons as defined in Section 194S) |
| 15.05.2023 | Form No. 24G | April 2023 | Date by which a government agency must submit Form 24G if TDS/TCS for April 2023 has been paid without the production of a challan. |
| 15.05.2023 | Filing of TCS Statement | Quarterly | TCS's quarterly statement for the period ending March 31, 2023. |
| 15.05.2023 | Electronic Challan cum Return (ECR) (PF) | April 2023 | E-payment of Provident Fund |
| 15.05.2023 | ESI Challan | April 2023 | ESI payment |
| 15.05.2023 | Form No. 3BB | April 2023 | Due date for a stock exchange to submit a Form 3BB statement regarding transactions involving client codes that were changed after registering in the system for the month of April 2023. |
| 30.05.2023 | TDS Challan-cum-stament | April 2023 | Date that the challan-cum-statement required by Sections 194-IA, 194-IB, 194M, and 194S must be submitted. |
| 30.05.2023 | TCS Certificate | 4th quarter of FY 2022-23 | Making TCS certificates for the final quarter of the fiscal year 2022–2023 |
| 30.05.2023 | Form No. 49C | FY 2022-23 | Submission of a statement for the fiscal year 2022–2023 by a non-resident with a liaison office in India |
| 31.05.2023 | Statement of TDS | January to March 2023 | TDS quarterly statement for the period ending March 31, 2023, |
| 31.05.2023 | TDS Return by trustees | – | TDS Return for tax withheld from trustee contributions to an authorised superannuation fund |
| 31.05.2023 | Form 61A | FY 2022-23 | Due date for furnishing of statement of financial transaction as required to be furnished under sub-section (1) of section 285BA of the Act respect for financial year 2022-23 |
| 31.05.2023 | Form 61B | Calendar Year 2022 | Due date for reporting financial institutions to submit their annual statement of reportable accounts (in Form No. 61B) electronically for the calendar year 2022, as required by Section 285BA(1)(k). |
| 31.05.2023 | PAN Application | FY 2022-23 | If a non-resident individual transacts for Rs. 2,50,000 or more in the financial year 2022-2023, and that individual is also the managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer, or office bearer of the individual mentioned in Rule 114(3)(v), or any other qualified party able to act on the individual's behalf who hasn't been assigned any PANs. |
| 31.05.2023 | Form 9A | – | To utilise the option given by the Explanation to Section 11(1) to apply revenue from the previous year in the next year or in the future, a Form 9A application must be completed if the assessee is required to submit a return of income on or before July 31, 2023. |
| 31.05.2023 | Form 10 | – | If the assessee is required to file a return of income on or before July 31, 2023, a statement in Form No. 10 must be provided in order to accrue revenue for a future application under Section 10(21) or Section 11(1). |
Important Statutory Due Dates for the May 2023 LLP Annual Filing | |||
| 30.05.2023 | LLP Form 11 | FY 2022-23 | A yearly report detailing the LLP's and its partners' financial activity for the fiscal year 2022–2023 |
Also Check: “How To Claim Your TDS Refund”.
FILING YOUR INCOME TAX RETURN F.Y 2022-23 (A.Y. 2023-2024) WITH MYITRONLINE
Income tax filing deadline is right around the corner. If you haven’t filed yet, do it now for FREE on Myitronline! Avoid last minute rush and file your tax return today on MYITRONLINE in Just 5 mins.(www.myitronline.com)
If you are looking for eCA assistance to file your income tax return/ GST, you can opt for MYITRONLINE eCA assisted plan starting
Upload Salary Individual Form-16
If you have any questions with filing your tax return, please reply to this mail. info@myitronline.com OR call 9971055886.
Note-All the aforementioned information in the article is taken from authentic resources and has been published after moderation. Any change in the information other than fact must be believed as a human error. For queries mail us at marketing@myitronline.com
Resources from: https://www.myitronlinenews.com/in/statutory-compliance-calendar-for-may-2023
