Corporate Compliance Calendar for the m/o October, 2021

CS Lalit Rajput | Oct 6, 2021 | Views 99587

Corporate Compliance Calendar for the m/o October, 2021

Corporate Compliance Calendar for the m/o October, 2021

ABOUT ARTICLE:

This article contains various Compliance requirements for the Month of October, 2021 under various Statutory Laws.

Compliance Requirement Under

1. Income Tax Act, 1961
2. Goods & Services Tax Act, 2017 (GST) and Important Updates / Circulars
3. Companies Act, 2013 & LLP Compliance (MCA/ROC Compliance) and Notifications
4. Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications
5. Other Statutory Laws and Updates
6. SEBI (Listing Obligations & Disclosure Requirements) (LODR) Regulations, 2015
7. SEBI Takeover Regulations 2011
8. SEBI (Prohibition of Insider Trading) Regulations, 2015
9. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
10. SEBI (Buyback of Securities) Regulations, 2018
11. SEBI (Depositories and Participants) Regulations 2018) and Circulars / Notifications
12. Insolvency and Bankruptcy Board of India (IBBI) Updates

1. COMPLIANCE REQUIREMENT UNDER INCOME TAX ACT, 1961

Sl. Compliance Particulars Due Dates
1 Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for previous month. 07.10.2021
2 Due date deposit of TDS for July-Sep. 2021 u/s section 192, 194A, 194D or 194H. 07.10.2021
3 Due date for deposit of Equalization Levy for the month of September, 2021. 07.10.2021
4 Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB and194M in the month of September 2021. 15.10.2021
5 Due date of furnishing of Form 24G by an office of the Government where TDS/TCS for the month of September, 2021 has been paid without the production of a challan. 15.10.2021
6 Quarterly statement of TCS deposited for the quarter ending September 30, 2021. 15.10.2021
7 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 August, 2021. 15.10.2021
8 Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, 194-IB, 194-IM, in the month of September, 2021. 30.10.2021
9 Quarterly TCS certificate (in respect of tax collected by any person) for the quarter ending September 30, 2021. 30.10.2021
10 Intimation by a designated constituent entity, resident in India, of an international group in Form no. 3CEAB for the accounting year2020-21. 31.10.2021
11 Quarterly statement of TDS deposited for the quarter ending September 30, 2021. 31.10.2021
12 Payment of tax under Direct Tax Vivad se Vishwas Act, 2020 with additional charge. 31.10.2021

Income Tax Due Date – Extensions

Sl. Nature of Extension Provisions / Forms of IT Act 1961 Original Due Date Extended Due Date
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
2 The Quarterly Statement in Form No. 15CC to be furnished by authorized dealer in respect of remittances made for the quarter ending on 30th June, 2021 Form No. 15CC 30.06.2021 31.12.2021
3 The Quarterly statement in Form No. 15CC to be furnished by authorized dealer in respect of remittances made for the quarter ending on 30 September, 2021 15.10.2021 31.12.2021
4 The Equalization Levy Statement in Form No. 1 for the Financial Year 2020-21 Form No. 1 30.06.2021 31.12.2021
5 Intimation by a constituent entity, resident in India, of an international group, the parent entity of which is not resident in India for the purposes of section 286 (1) Form No.3CEAC 30.11.2021 31.12.2021
6 Report by a parent entity or an alternate reporting entity or any other constituent entity, resident in India, for the purposes of section 286 (2) / 286 (4) Form No.3CEAD 30.11.2021 31.12.2021
7 Intimation on behalf of an international group for the purposes of the proviso to sub-section (4) of section 286 of the Act Form No.3CEAE 30.11.2021 31.12.2021
8 Uploading of the declarations received from recipients in Form No. 15G/15H during the quarter ending 30th June, 2021 Form No. 15G/15H 15.07.2021 30.11.2021
9 Uploading of the declarations received from recipients in Form No. 15G/15H during the quarter ending 30th September, 2021 Form No. 15G/15H 15.10.2021 31.12.2021
10 Intimation to be made by Sovereign Wealth Fund in respect of investments made by it in India in Form II SWF for the quarter ending on 30th June,2021, Form II SWF 31.07.2021 30.11.2021
11 Intimation to be made by Sovereign Wealth Fund in respect of investments made by it in India in Form II SWF for the quarter ending on 30th September,2021 Form II SWF 31.10.2021 31.12.2021
12 Intimation to be made by a Pension Fund in respect of each investment ) made by it in India in Form No. 10BBB for the quarter ending on 30th June,2021 Form No. 10BBB 31.07.2021 30.11.2021
13 Intimation to be made by a Pension Fund in respect of each investment (11) made by it in India in Form No. 10BBB for the quarter ending on 30 September, 2021 Form No. 10BBB 31.10.2021 31.12.2021

IMPORTATNT UPDATES – SEPTEMBER, 2021:

1. Income tax refunds of Rs 80,086 cr issued during this fiscal: CBDT

Refunds amounting to more than Rs 80,000 crore have been issued to the taxpayers during the current financial year, the CBDT said.

The Central Board of Direct Taxes (CBDT) frames policy for the Income Tax Department. This figure includes income tax refunds of Rs 19,699 crore in 47,53,254 cases and corporate tax refunds of Rs 60,387 crore in 1,63,021 cases.

2. ITR filing due date for AY 2021-22 extended! Check new deadline to file income tax return

CBDT has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22.

Keeping in view the difficulties reported by taxpayers and other stakeholders in filing of Income Tax Returns as well as the various reports of audit for the Assessment Year 2021-22 under the Income-Tax Act, 1961, the Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22.

  • The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 31st July, 2021 under sub-section (1) of section 139 of the Act, as extended to 30th September, 2021, is now further extended to 31st December, 2021.
  • The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which is 30th September, 2021, as extended to 31st October, 2021, is now further extended to 15th January, 2022.
  • The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st October, 2021 under sub-section (1) of section 139 of the Act, as extended to 30th November, 2021 is now further extended to 15th February, 2022.
  • The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 30th November, 2021 under sub-section (1) of section 139 of the Act, as extended to 31st December, 2021 is now further extended to 28th February, 2022.

IMPORTANT NOTIFICATIONS – For the month of September – 2021:

Sl.  Particulars of the Notification(s) File No. / Circular No. Link(s)
1 Order under section 119(2)(b) of the Income Tax Act, 1961 for filing applications for settlement before the Interim Board for Settlement F. No. 299/22/ 2021 -Dir (Inv. III)/174 Click Here
2 ​Processing of returns claims under section 143(1) of the Income-tax Act, 1961 beyond the prescribed time limits in non-scrutiny cases F. No. 225/98/2020 – ITA-II Click Here
3 The Income-tax (31st Amendment) Rules, 2021 Notification No. 118/ 2021 Click Here
4 The Income-tax (30th Amendment) Rules, 2021 Notification No. 117 /2021 Click Here
5 Extension of time lines for electronic filing of various Forms under the Income-tax Act, 1961 Circular No. 16 /2021 Click Here
6 Notification No. 94/2021 [F.No.IT(A)/01/2020-TPL (Part-I)-(Part- I)] / S.O. 3536(E) Notification No. 94/2021 Click Here
7 The Income-tax (25th Amendment) Rules, 2021 Notification No. 95/2021 Click Here
8 Constitution of Board for Advance Rulings under the section 245-OB Income-tax Act, 1961 Notification No. 96/2021 Click Here
9 Notification of the appointed date to give effect to the amendments made by the Finance Act, 2021 to the Chapter XIX-B of the Income tax Act, 1961 Notification No. 97/2021 Click Here
10 Notification No. 98/2021 [F. No. 370142/11/2021-TPL] / SO 3595(E) Notification No. 98/2021 Click Here
11 The Income-tax (26th Amendment) Rules, 2021 Notification No. 99/2021 Click Here
12 the Central Government hereby notifies for the purposes of the said clause, ‘District Mineral Foundation Trust’ Notification No. 103/ 2021 Click Here
13 Extension of time lines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22- reg. Circular No. 17/2021 Click Here
14 The Income-tax (26th Amendment) Rules, 2021 Notification No. 101/ 2021 Click Here
15 The Income-tax (26th Amendment) Rules, 2021 – CORRIGENDUM Notification No. 102 /2021 Click Here
16 Income Tax Department conducts searches in Ahmedabad Release ID: 1753861 Click Here
17 CBDT extends due dates for filing of Income Tax Returns and various reports of audit for Assessment Year 2021-22 Release ID: 1753603 Click Here
18 e-Filing portal of the Income Tax Department – updates Release ID: 1753272 Click Here
19 The Income-tax (29th Amendment) Rules, 2021. Notification No. 109/ 2021 Click Here
20 The Central Government hereby specifies the pension fund Notification No. 111/ 2021 Click Here

2. COMPLIANCE REQUIREMENT UNDER GST, 2017

Filing of GSTR –3B

A. Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY

Tax period Due Date No interest payable till Particulars
September, 2021 20th October, 2021 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 upto Rs. 5 crores in preceding FY (Group A)

Tax period Due Date No interest payable till Particulars
September, 2021 22nd October, 2021 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

C. Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group B)

Tax period Due Date No interest payable till Particulars
September, 2021 24th October, 2021
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

D. Filing Form GSTR-1:

Tax period Due Date Remarks
Monthly return

(September, 2021)

11.10.2021 GST monthly return for the month of September, 2021 (GSTR 1) applicable for taxpayers with Annual Aggregate Turnover more than 1.50 Crore.

GST monthly return for the month of September, 2021 (GSTR 1) applicable for taxpayers with Annual Aggregate turnover less than 1.50 Crore and opted to file monthly Return.

Quarterly Return

(July-September Quarter 2021)

13.10.2021 Due Date of GSTR-1 for tax period July-September Quarter 2021.

E. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers

Form No. Compliance Particulars Timeline   Due Date 
GSTR-5 & 5A Non-resident ODIAR services provider file Monthly GST Return 20th of succeeding month 20.10.2021
GSTR -6 Every Input Service Distributor (ISD) 13th of succeeding month 13.10.2021
GSTR -7 Return for Tax Deducted at source to be filed by Tax Deductor 10th of succeeding month 10.10.2021
GSTR -8 E-Commerce operator registered under GST liable to TCS 10th of succeeding month 10.10.2021

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