December 31, 2024, marks several critical compliance deadlines for individuals and businesses. For Income Tax, belated or revised returns for AY 2024-25 must be filed by this date. Under GST, annual returns for FY 2023-24 need submission in GSTR-9 if turnover exceeds ₹2 crores and in GSTR-9C if turnover exceeds ₹5 crores. Entities with overseas investments must file their Annual Performance Report (APR) under FEMA regulations in ODI Part II by December 31. Companies meeting the criteria under Section 135 of the Companies Act, 2013, must file their Corporate Social Responsibility (CSR) report in Form CSR-2 by the same date. Additionally, NBFCs are required to file the Statutory Auditor Certificate (DNBS-10) with the RBI by December 31, following the Master Direction guidelines. These annual compliance tasks are vital to avoid penalties and maintain regulatory adherence.
Compliances to be done by the end of December
Compliance: Compliance means to act in accordance with a set of rules, laws, or standards.
| Due Date | Applicable Act | Compliance |
| 31-12-2024 | Income Tax | Belated/ Revised Income Tax returns can be filed for AY 24-25 till 31st December, 2024. |
| 31-12-2024 | Goods and Services Tax | Annual Return of GST for F.Y. 2023-24 needs to be filed (in GSTR-9) by 31st December, 2024 if Turnover exceeds Rs. 2 cr. |
| 31-12-2024 | Goods and Services Tax | Annual Return of GST for F.Y. 2023-24 needs to be filed (in GSTR-9C) by 31st December, 2024 if Turnover exceeds Rs. 5 cr. |
| 31-12-2024 | FEMA | Annual Performance Report (APR) needs to be filed by all entities (in ODI Part II) by 31st December if having investment outside India. |
| 31-12-2024 | Companies Act | A report on Corporate Social Responsibility (in CSR-2) needs to be filed by 31st December by Companies if covered u/s 135 of the Companies Act, 2013. |
| 31-12-2024 | Master Direction – RBI | Statutory Auditor Certificate (in DNBS-10) needs to be filed by 31st December by all NBFCs. |
We often tend to forget the Compliances which are to be done once in a year only. So, here’s a list of Compliances to be done by the end of December.
Author Name – CS Shivani Khurana
Address – New Delhi
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