1. Compliance requirement under Income Tax act, 1961
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Sl. |
Compliance Particulars |
Due Dates |
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1 |
Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for previous month. |
07.01.2022 |
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2. |
Due date for deposit of TDS for the period October 2021 to December 2021 when Assessing Officer has permitted quarterly deposit of TDS under section 192, section 194A, section 194D or section 194H. |
07.01.2022 |
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3 |
Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of November, 2021. |
14.01.2022 |
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4 |
Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of November, 2021. |
14.01.2022 |
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5 |
Due date for issue of TDS Certificate for tax deducted under section 194M in the month of November, 2021. |
14.01.2022 |
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6 |
Due date for filing of audit report under section 44AB for the assessment year 2021-22 in the case of a corporate-assessee or non-corporate assessee (who was required to submit his/its return of income on October 31, 2021) – extended date |
15.01.2022 |
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7 |
Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of December, 2021 has been paid without the production of a challan. |
15.01.2022 |
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8. |
Quarterly statement of TCS for the quarter ending December 31,2021. |
15-01-2022 |
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9. |
Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending December, 2021. |
15-01-2022 |
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10. |
Due date for furnishing of Form 15G/15H declarations received during the quarter ending December, 2021. |
15-01-2022 |
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11. |
Quarterly TCS certificate in respect of quarter ending December 31, 2021. |
30-01-2022 |
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12. |
Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA in the month of December, 2021. |
30-01-2022 |
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13. |
Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of December, 2021. |
30-01-2022 |
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14. |
Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194M in the month of December, 2021. |
30-01-2022 |
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15. |
Quarterly statement of TDS for the quarter ending December 31, 2021. |
31-01-2022 |
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16. |
Quarterly return of non-deduction at source by a banking company from interest on time deposit in respect of the quarter ending December 31, 2021. |
31-01-2022 |
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17. |
Intimation under section 286(1) in Form No. 3CEAC, by a resident constituent entity of an international group whose parent is non-resident. |
31-01-2022 |
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18. |
Audit report under section 44AB for the assessment year 2021-22 in the case of an assessee who is also required to submit a report pertaining to international or specified domestic transactions under section 92E. The due date for furnishing of audit report for Assessment Year 2021-22 has been extended from October 31, 2021 to November 30, 2021 vide Circular no. 9/2021, dated 20-05-2021. The due date for furnishing of audit report for Assessment Year 2021-22 has been further extended from November 30, 2021 to January 31, 2022 vide Circular no. 17/2021, dated 09-09-2021. |
31-01-2022 |
Income Tax Due Date - Extensions
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Sl. |
Nature of Extension |
Provisions / Forms of IT Act 1961 |
Earlier Due Date |
Extended Due Date |
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1 |
The application in Form No. 10A/ Form No.10AB, for registration/ provisional registration/ intimation/ approval/ provisional approval of Trusts/ Institutions/ Research Associations etc., |
Under Section 10 (23C), 12AB, 35 (1) (ii) /(iia) / (iii) and 80G of the Act |
30.06.2021 |
31.03.2022 |
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2 |
Return of income for the assessment year 2021-22 in the case of an assessee if he/it is required to submit a report under section 92E pertaining to international or specified domestic transaction(s) |
under section 92E |
31.12.2021 |
28.02.2022 |
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3 |
Filing of belated/revised return of income for the assessment year 2021-22 for all assessee (provided assessment has not been completed before December 31, 2021). |
Belated/revised return of income for the assessment year 2021-22 |
31.01.2022 |
31.03.2022 |
Important Notifications – For the month of December - 2021
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Sl. |
Particulars of the Notification(s) |
File No. / Circular No. |
Link(s) |
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1. |
Income Tax Department conducts search operations in Rajasthan |
Press Release ID 1776742 |
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2. |
Income Tax Department conducts search operations in Pune, Maharashtra |
Press Release ID 1777165 |
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3. |
TheCentral Government hereby specifies the JeevanAkshay-VIIPlan of the LIC |
Notification No. 134/2021 |
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4. |
Protocol amending the Agreement between the Government of the Republic of India and theGovernment of the Kyrgyz Republic for the Avoidance of Double Taxation and for the Prevention of Fiscal Evasion with respect to taxes on income signed at New Delhi on 13th April, 1999. |
Notification No. 135/2021/ |
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5. |
TheIncome-tax (33rd Amendment)Rules, 2021 |
Notification No. 136/2021 |
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6. |
Thee-Verification Scheme, 2021. |
Notification No. 137 /2021 |
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7 |
TheIncome-tax (34th Amendment)Rules, 2021 |
Notification No. 138/2021 |
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8 |
TheFaceless Appeal Scheme, 2021. |
Notification No. 139/2021 |
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9 |
TheIncome-tax (35th Amendment)Rules, 2021 |
Notification No. 140/2021 |
2. Compliance Requirement under GST, 2017
A. Filing of GSTR 3B
a) Taxpayers having aggregate turnover >Rs. 5 Cr. in preceding FY
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Tax period |
Due Date |
No interest payable till |
Particulars |
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December, 2021 |
20thJanuary, 2022 |
- |
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 uptoRs. 5 crores in preceding FY (Group A)
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Tax period |
Due Date |
No interest payable till |
Particulars |
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December, 2021 |
22nd January, 2022 |
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 |
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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 |
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c) Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group B)
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Tax period |
Due Date |
No interest payable till |
Particulars |
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December, 2021 |
24thJanuary, 2022 |
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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 |
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B. Filing Form GSTR-1
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Tax period |
Due Date |
Remarks |
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Monthly return (December, 2021) |
11.01.2022 |
"1. GST Filing of returns by registered person with aggregate turnover exceeding INR 5 Crores during preceeding year. 2. Registered person, with aggregate turnover of less then INR 5 Crores during preceeding year, opted for monthly filing of return under QRMP" |
C. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers
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Form No. |
Compliance Particulars |
Timeline |
Due Date |
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GSTR-5 & 5A |
Non-resident ODIAR services provider file Monthly GST Return |
20th of succeeding month |
20.01.2022 |
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GSTR -6 |
Every Input Service Distributor (ISD) |
13th of succeeding month |
13.01.2022 |
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GSTR -7 |
Return for Tax Deducted at source to be filed by Tax Deductor |
10th of succeeding month |
10.01.2022 |
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GSTR -8 |
E-Commerce operator registered under GST liable to TCS |
10th of succeeding month |
10.01.2022 |
D. GSTR - 1 QRMP monthly / Quarterly return
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Form No. |
Compliance Particulars |
Timeline |
Due Date |
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Details of outward supply-IFF& Summary of outward supplies by taxpayers who have opted for the QRMP scheme. |
a) GST QRMP monthly return due date for the month of December, 2021 (IFF). Applicable for taxpayers with Annual aggregate turnover up to Rs. 1.50 Crore. b) Summary of outward supplies by taxpayers who have opted for the QRMP scheme. |
13th of succeeding month - Monthly Quarterly Return |
13.01.2022 |
E. GST Refund
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Form No. |
Compliance Particulars |
Due Date |
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RFD -10 |
Refund of Tax to Certain Persons |
18 Months after the end of quarter for which refund is to be claimed |
F. Other Returns
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Form No. |
Compliance Particulars |
Timeline |
Due Date |
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CMP - 08 |
Quarterly challan-cum-statement to be furnished by composition taxpayers. Oct-Dec’21. |
Quarterly – Oct. to Dec 2021 |
18.01.2022 |
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ITC - 04 |
GST ITC-04 is to be filed to provide details of goods sent to Job Worker or received back. |
Quarterly – Oct. to Dec 2021 |
25.01.2022 |
G. Annual Returns
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Form No. |
Compliance Particulars |
Due Date |
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GSTR - 9 |
GSTR-9 is Annual Return applicable for registered person with aggregate turnover exceeding INR 2 Crores during the F.Y. 2020-21. However, registered person with aggregate turnoberupto INR 2 Crores have option to file GSTR-9. |
28.02.2021 |
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GSTR – 9C |
GSTR-9C is reconciliation statement applicable for registered person with aggregate turnover exceeding INR 5 Crores during the F.Y. 2020-21. |
28.02.2021 |
Major Update
- Taxpayers can now withdraw their application for cancellation of registration (filed in Form REG-16) unless the tax officer has initiated action on it.
- Aadhaar authentication of registered person is mandatory for filing of Refund/Revocation of cancelled registration applications w. e. from 1.1.2022.
GST UPDATES - from 01.12.2021 to 31.12.2021
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Sl. |
Notification Particulars |
Notification No. |
Link(s) |
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1. |
Module wise new functionalities deployed on the GST Portal for taxpayers |
GSTN 496 |
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2. |
Seeks to make amendments (Ninth Amendment, 2021) to the CGST Rules, 2017. |
37/2021-Central Tax dated 01.12.2021 |
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3. |
GST on service supplied by restaurants through e-commerce operators – reg. |
167/23/2021-GST |
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4. |
Mandatory Aadhaar authentication for registered person |
GSTN Update: 514 |
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5. |
Seeks to bring sub-rule (2) and sub-rule (3), clause (i) of sub-rule (6) and sub-rule (7) of rule 2 of the CGST (Eighth Amendment) Rules, 2021 into force w.e.f. 01.01.2022. |
38/2021-Central Tax dated 21.12.2021 |
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6 |
Seeks to notify 01.01.2022 as the date on which provisions of section 108, 109 and 113 to 122 of the Finance Act, 2021 shall come into force. |
39/2021-Central Tax dated 21.12.2021 |
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7 |
GST on service supplied by restaurants through e-commerce operators – reg. |
CBIC-190354/207/2021-TRU Section-CBEC |
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8 |
Payment of GST compensation to States in times of COVID-19 pandemic |
Press Release ID: 1778931 |
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9 |
Seeks to make amendments (Tenth Amendment, 2021) to the CGST Rules, 2017. |
40/2021-Central Tax dated 29.12.2021 |
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10 |
Seeks to amend Notification No 1/2017- Central Tax (Rate) dated 28.06.2017. |
18/2021-Central Tax (Rate),dt. 28-12-2021 |
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11 |
Seeks to amend Notification No 2/2017- Central Tax (Rate) dated 28.06.2017. |
19/2021-Central Tax (Rate), dt. 28-12-2021 |
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12 |
Seeks to amend Notification No 21/2018- Central Tax (Rate) dated 26.07.2018 |
20/2021-Central Tax (Rate), dt. 28-12-2021 |
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13 |
Seeks to supersede notification 14/2021- CT(R) dated 18.11.2021 and amend Notification No 1/2017- CT (Rate) dated 28.06.2017. |
21/2021-Central Tax (Rate), dt. 28-12-2021 |
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14 |
Seeks to supersede notification 15/2021- CT(R) dated 18.11.2021 and amend Notification No 11/2017- CT (Rate) dated 28.06.2017. |
22/2021-Central Tax (Rate), dt. 28-12-2021 |
3. Key Compliances under FEMA / RBI
|
Applicable Laws/Acts |
Due Dates |
Compliance Particulars |
Forms / (Filing mode) |
|
FEMA ACT 1999 |
Not later than 30 days from the date of issue of Capital instrument |
FC-GPR is a form filed when the Indian company receives the Foreign Direct Investment and the company allots shares to a person resident outside India. |
Form FC-GPR |
|
FEMA ACT 1999 |
With in 60 days of receipt/ remittance of funds or transfer of capital instruments whichever is earlier. |
Reporting of transfer of shares and other eligible securities between residents and non-residents and vice- versa is to be made in Form FC-TRS. The onus of reporting shall be on the resident transferor/ transferee. |
Form FC-TRS. |
|
FEMA ACT 1999 |
within 30 days from the date of receipt of the amount of consideration. |
A Limited Liability Partnership receiving amount of consideration and acquisition of profit shares is required to submit a report in the Form FDI LLP-1 |
Form FDI LLP-I |
|
FEMA ACT 1999 |
within 60 days from the date of receipt of funds in |
A Limited liability Partnership shall report disinvestment/ transfer of capital contribution or profit share between a resident and a non resident (or vice versa) |
Form FDI LLP-II |
|
FEMA ACT 1999 |
within 30 days from the date of allotment of capital instruments |
The domestic custodian shall report the issue/ transfer/ of sponsored/ unsponsored depository receipts |
Downstream statement -Form DI& reporting at FIFP too |
Entities which are filing FLA return for the first time/ with revised UIN (Unique identification number) are required to register themselves first for generating login credentials and afterwards they can file FLA return. However, the entities which have already registered earlier may submit FLA-2021 using their earlier login credentials.
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