Individuals or businesses, be it a small scale business or a business having its operations on a large scale, are bound to adhere to the tax and statutory compliance prevailing in India. It is important for all the businesses, in any form, (Private Limited Company, Public Limited Company, Limited Liability Partnership, Partnership or Sole Proprietorship Firm) to keep a track of various compliance Due dates such as Income Tax Return Filing, GST Return Filing, ROC Compliance Due dates etc. falling in every month of the year. If we talk about May, 2022, it is an important month from a Tax and Statutory Compliance perspective. The Month of May is also important as the due date for filing LLP Annual Return in LLP Form 11 falls in this month only. Hence, for LLP owners, it is significant to mark its calendar for this important LLP Annual Filing due date i.e. Due date for LLP Form 11 for FY 2021- 22 is 30th May, 2022. Here, we have prepared a Compliance Calendar for Tax and Statutory Due Dates falling in the Month of May 2022 that includes, Compliance Calendar for GST Due Dates of May 2022 and Compliance Calendar for Income tax Return Due Dates of May 2022, that might be helpful for every registered business and professional to keep a track and be ready for the compliance well in advance.
Compliance Calendar for the Month of May 2022
| Important due dates for the GST Returns in the Month of May 2022 | |||
| Due date | Form to be filed | Period | Who should file? |
| 10.05.2022 | GSTR 7 | April 2022 | GSTR 7 is a return to be filed by the persons who is required to deduct TDS (Tax deducted at source) under GST |
| 10.05.2022 | GSTR 8 | April 2022 | GSTR-8 is a return to be filed by the e-commerce operators who are required to deduct TCS (Tax collected at source) under GST |
| 11.05.2022 | GSTR 1 | April 2022 | Taxpayers having an aggregate turnover of more than Rs. 1.50 Crores or opted to file Monthly Return |
| 13.05.2022 | GSTR 1 IFF (QRMP) | April 2022
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GST return for the taxpayers who opted for QRMP scheme (Optional) |
| 13.05.2022 | GSTR 6 | April 2022 | Input Service Distributors |
| 20.05.2022 | GSTR 5 & 5A | April 2022 | Non-Resident Taxpayers and ODIAR services provider |
| 20.05.2022 | GSTR 3B | April 2022 | The due date for GSTR-3B having an Annual Turnover of more than 5 Crores |
| 25.05.2022 | GST Challan | For all Quarterly filers | GST Challan Payment if no sufficient ITC for April (for all Quarterly Filers) |
| Important due dates for the Income Tax Compliance / PF / ESI in the Month of May 2022 | |||
| 07.05.2022 | Challan No. ITNS-281 | April 2022 | Payment of TDS/TCS deducted /collected in April 2022. |
| 15.05.2022 | TDS Certificate | March 2022 | Due date for issue of TDS Certificate for tax deducted under Serwection 194IA in the month of March, 2022 |
| 15.05.2022 | TDS Certificate | March 2022 | Due date for issue of TDS Certificate for tax deducted under Section 194IB in the month of March, 2022 |
| 15.05.2022 | TDS Certificate | March 2022 | Due date for issue of TDS Certificate for tax deducted under Section 194M in the month of March, 2022 |
| 15.05.2022 | Form No. 24G | April, 2022 | Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of April, 2022 has been paid without the production of a challan |
| 15.05.2022 | Filing of TCS Statement | Quarterly | Quarterly statement of TCS deposited for the quarter ending March 31, 2022 |
| 15.05.2022 | Electronic Challan cum Return (ECR) (PF) | April 2022 | E-payment of Provident Fund |
| 15.05.2022 | ESI Challan | April 2022 | ESI payment |
| 15.05.2022 | Form No. 3BB | April 2022 | Due date for furnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of April, 2022 |
| 30.05.2022 | TDS Challan-cum-statement | April 2022 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, 194 IB, 194M |
| 30.05.2022 | TCS Certificate | 4th quarter of FY 2021-22 | Issue of TCS certificates for the 4th Quarter of the Financial Year 2021-22 |
| 30.05.2022 | Form No. 49C | FY 2021-22 | Submission of a statement by non-resident having a liaison office in India for the financial year 2021-22 |
| 31.05.2022 | Form 24Q (TDS Return for Salary) | January to March 2022 | Quarterly Statement for TDS on salaries |
| 31.05.2022 | Form 26Q: TDS Return filing for Non Salary Deductions | January to March 2022 | Quarterly statement of TDS deposited (for the payment to non-resident not being a company, foreign company and persons who are not ordinarily resident) for the quarter ending March 31, 2022 |
| 31.05.2022 | Form 27Q: TDS Return in Case of Payments to NRI | January to March 2022 | Quarterly Statement for TDS on professional fees, interest payments, etc. |
| 31.05.2022 | TDS Return by trustees | – | TDS Return for tax deducted from contributions paid by the trustees of an approved superannuation fund |
| 31.05.2022 | Form 61A | FY 2021-22 | 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 2021-22 |
| 31.05.2022 | Form 61A | Calendar Year 2021 | Due date for e-filing of annual statement of reportable accounts as required to be furnished under section 285BA(1)(k) (in Form No. 61B) for calendar year 2021 by reporting financial institutions |
| 31.05.2022 | PAN Application | FY 2021-22 | Application for allotment of PAN in case of non-individual resident person, which enters into a financial transaction of Rs. 2,50,000 or more during FY 2021-22 and in case of person being managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer of the person referred to in Rule 114(3)(v) or any person competent to act on behalf of the person referred to in Rule 114(3)(v) and who hasn’t allotted any PAN |
| Important due dates for the LLP Annual Filing in the Month of May 2022 | |||
| 30.05.2022 | LLP Form 11 | FY 2021-22 | An annual statement for submitting details of the business of the LLP and its partners for the FY 2021-22 |
The month of May 2022, is significant for the due dates for various compliances under the Goods and Service Act, Income Tax Act, Companies Act, and LLP Act. Filing the above-mentioned forms on or before the due dates will save the taxpayers from hefty penalties. However, the due dates maybe extended from time to time by the concerned departments on the basis of various events / representations by the stakeholders.
Author Bio
Thank you Madam for letting us know the important dates. There is one mistake that I would like to point out as fellow professional i.e. you have interchanged the meaning of Form 26Q and 27Q.