CS Lalit Rajput | Nov 7, 2021 | Views 752962

Tax Compliance Calendar November 2021

Tax Compliance Calendar November 2021

This article contains various Compliance requirements for the Month of November, 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

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. 07.11.2021
2. Due date deposit of TDS for July-Sep. 2021 u/s section 192, 194A, 194D or 194H. 07.11.2021
 3 Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB and 194M in the month of September, 2021 14.11.2021
4 Due date of TDS Certificate in case of Tax deducted in case of other than salary for the quarter ending September, 2021 15.11.2021
5 Form 3BB is the monthly statement to be furnished by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of October 2021 15.11.2021
6 Due date of furnishing of Form 24G by an office of the Government where TDS/TCS for the month of October, 2021 has been paid without the production of a challan 15.11.2021
7 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 October 30.11.2021
8 3CEAA is required to be Filed electronically with the Director General of Income Tax (Risk Assessment) 30.11.2021
9 To exercise option of safe harbour rules for International transaction by furnishing Form 3CEFA. 30.11.2021
10 To exercise option of safe harbour rules for Domestic transaction by furnishing Form 3CEFB. 30.11.2021
11 Statement of income distribution by Venture Capital Company or venture capital fund in respect of income Distributed during previous Year 2020-21 (Form No. 64) 30.11.2021
12 Due date for filing of statement of income distributed by business trust to unit holders during the financial year 2020-21. 30.11.2021
13 Statement to be furnished in Form No. 64D by Alternative Investment Fund (AIF) to Principal CIT or CIT in respect of income Distributed (during previous year 2020-21) to units holders 30.11.2021
14 Submit copy of audit of accounts to the Secretary, Department of Scientific and Industrial Research in case company is eligible for weighted deduction under section 35(2AB). 30.11.2021
15 Report to be furnished in Form 3CEB in respect of International transaction and specified domestic transaction. 30.11.2021

Income Tax Due Date – Extensions

Sl. Nature of Extension Provisions / Forms of IT Act 1961 Original Due Date Extended Due Date
 

1

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
 

 

2

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
 

 

3

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

Important Notifications – For the month of October – 2021:

Sl. Particulars of the Notification(s) File No. / Circular No. Link(s)
1. The Income-tax (31st Amendment) Rules, 2021. Notification No. 118/2021 Click Here
 

2.

Processing of returns with refund claims under section 143(1) of the Income-tax Act 1961 beyond the prescribed time limits in non-scrutiny cases – reg F. No. 225/98/2020 – ITA-II Click Here
3. Income Tax Department conducts searches in Assam, Meghalaya and West Bengal Press Release ID: 1762084 Click Here
4. Seychelles’ Tax Inspectors Without Borders (TIWB) programme launched in partnership with India Press Release ID: 1760883 Click Here
5. The Income-tax (31st Amendment) Rules, 2021. Notification No. 118/2021 Click Here
 6. Processing of returns with refund claims under section 143(1) of the Income-tax Act 1961 beyond the prescribed time limits in non-scrutiny cases – reg F. No. 225/98/2020 – ITA-II Click Here
 7 Income Tax Department conducts searches in Assam, Meghalaya and West Bengal Press Release ID: 1762084 Click Here
8 Seychelles’ Tax Inspectors Without Borders (TIWB) programme launched in partnership with India Press Release ID: 1760883 Click Here
9 Clarification regarding Section 36(1) (xvi i) of the Income-tax Act. 1961 inserted vide Finance Act. 2015 Circular No. 18 / 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
October 2021 20th November, 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
October, 2021 22nd November, 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
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

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

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

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 (October, 2021) 11.11.2021 GST monthly return for the month of October, 2021 (GSTR 1) applicable for taxpayers with Annual Aggregate Turnover more than 1.50 Crore.

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

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 20.11.2021
GSTR -6 Every Input Service Distributor (ISD) 13th of succeeding month 13.11.2021
GSTR -7 Return for Tax Deducted at source to be filed by Tax Deductor 10th of succeeding month 10.11.2021
GSTR -8 E-Commerce operator registered under GST liable to TCS 10th of succeeding month 10.11.2021

f. GSTR – 1 QRMP monthly return

Form No. Compliance Particulars Timeline  Due Date
Details of outward supply-IFF GST QRMP monthly return due date for the month of October, 2021 (IFF). Applicable for taxpayers with Annual aggregate turnover up to Rs. 1.50 Crore. 13th of succeeding month 13.11.2021

g. GST Refund:

Form No. Compliance Particulars Due Date
RFD -10 Refund of Tax to Certain Persons 18 Months after the end of quarter for which refund is to be claimed

Other Returns:

Form No. Compliance Particulars Timeline  Due Date
CMP-08 GST Challan Payment for taxpayer, with aggregate turnover of less than INR 5 Crores during preceeding year, who has opted for quarterly filing of returns. GST Challan payment if No sufficient ITC available 25.11.2021
GST return for pending Period-Amnesty Scheme Filing of Pending GST return with reduced penalty under Amnesty Scheme. July, 2017 to April, 2021 From 01.6.2021 to 30.11.2021

(earlier due date was 31.08.2021)

Major Update:

  • The taxpayers, who have registered at GST portal but have not yet furnished their Bank Account details, are required to update it at GST Portal through non-core amendment, within 45 days of first login henceforth.
  • GSTR-2B will be available in the afternoon of 14th as its generation commences after end of due date of GSTR-1/IFF filing on 13th.

GST UPDATES from 01.10.2021 to 31.10.2021:

Sl. Notification Particulars Notification No. Link (s)
1.

 

Resumption of Blocking of E-Way Bill (EWB) generation facility. GSTN Circular No. 507 Click Here
2. Clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 45th meeting held on 17th September, 2021 at Lucknow – reg. 163/19/2021-GST Click Here
3. Clarifications regarding applicable GST rates & exemptions on certain services. 164/2020/2021-GST Click Here
4. Availability of Input Tax Credit (ITC) for FY 2020-21 GSTN Circular No. 509 Click Here
5. Ahmedabad, Surat becoming bogus GST billing hubs: Govt News Article Click Here
6 Seeks to amend Notification No 1/2017- Central Tax (Rate) dated 28.06.2017. 13/2021-Central Tax (Rate), dt. 27-10-2021 Click Here
7 Seeks to amend Notification No 1/2017- Integrated Tax (Rate) dated 28.06.2017. 13/2021- Integrated Tax (Rate), dt. 27-10-2021 Click Here
8 Clarifications regarding applicable GST rates & exemptions on certain services. 164/2020/2021-GST Click Here
9 Advisory for taxpayers on Form GSTR-2B GSTN Circular No. 510 Click Here

3. Compliance Requirement UNDER Companies Act, 2013 and Rules made thereunder;

Applicable Laws/Acts Due Dates Compliance Particulars Forms / Filing mode
Companies Act, 2013 First declaration within 90 days from the date of notification Dt. 08.02.2019 A person having Significant beneficial owner shall file a declaration to the reporting company

http://www.mca.gov.in/Ministry/pdf/CompaniesOwnersAmendmentRules_08020219.pdf

i.e. within 90 days of the commencement of the Companies (Significant Beneficial Owners) Amendment Rules, 2019 i.e. 08.02.2019

In case Subsequent Acquisition of the title of Significant Beneficial Owner / Any Change therein a declaration in Form No. BEN-1 required to be filed to the reporting company, within 30 days of acquiring such significant beneficial ownership or any change therein.

Form BEN-1

Draft Format available at

LINK

Companies Act, 2013 within 30 days of acquiring beneficial interest Filing of form BEN-2 under the Companies (Significant Beneficial Owners) Rules, 2018.

(the date of receipt of declaration in BEN-1 )

CLICK HERE

Form BEN – 2

(e-form deployed by Ministry (ROC)) on 01.07.2019

Companies Act, 2013 Annual Compliance

(30.09.2021)

*DIN KYC through DIR 3 KYC Form is an Annual Exercise.

Last date for filing DIR-3 KYC for Financial year 2020-21 is 30th September, 2021

Annual Exercise: CLICK HERE

Penalty after due date is Rs. 5000/-(one time)

E-Form DIR – 3 KYC

(Web Based and E-form)

Companies Act, 2013 Within 270 days from the date of deployment of this Form Annual Return To Be Filed By Auditor With The National Financial Reporting Authority

CLICK HERE

CLICK HERE

Click Here

Note on NFRA -2 Click Here

NFRA-2

(NFRA-2 e-Form live since 9th December 2019.)

Companies Act, 2013 Within 15 days of appointment of an auditor. The Ministry in its General Circular No. 12/2018 dated 13th December, 2018 clarified that filing of Form NFRA-1 is applicable only for Bodies Corporate and ruled out filing by Companies as defined under sub-section (20) of Section 2 the Act. E – Form

NFRA -1

Companies Act, 2013 Within 30 days of the board meeting Filing of resolutions with the ROC regarding Board Report and Annual Accounts. The details of the resolutions passed should be filed. MGT-14

(Filing of resolution with MCA)

Companies Act, 2013 Within 60 (sixty) days from the conclusion of each half year. Reconciliation of Share Capital Audit Report (Half-yearly)

Pursuant to sub-rule Rule 9A (8) of  Companies (Prospectus and Allotment of Securities) Rules, 2014

To be filed all unlisted companies, deemed public companies

Till further clarification to be filled in GNL-2

E-Form PAS – 6
Companies Act, 2013 (Half Yearly basis)

31.10.2021

Form for furnishing half yearly return with the registrar in respect of outstanding payments to Micro or Small Enterprise, can be filed delayed without any Additional Fee E-Form MSME-1
Companies Act, 2013 One Time compliances Registration of Entities for undertaking CSR activities- Trust/ Society/ Section 8 Company need to file before Acceptance of Donation as CSR w.e.f. 01st April 2021 E-Form CSR-1
Companies Act, 2013 within a period of 60 days after the holding of AGM IEPF Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2019 Statement of unclaimed and unpaid amounts.

This e-form shall be filed within a period of 60 days after the holding of AGM or the date on which it should have been held as per the provisions of section 96 of the Act, whichever is earlier

IEPF -2

LLP Compliance:

Applicable Laws/Acts Due Dates Compliance Particulars Forms / Filing mode
LLP Act, 2008 30.12.2021 (extended) Statement of Account and Solvency for Financial Year 2020-21

Within 30 days from the end of 6 months of the financial year to which the statement relates.

Form LLP-8

Due dates of ROC Return Filings

Sl. No. Particulars Due Date E- Form
1 Appointment of Auditor Within 15 days from the conclusion of AGM ADT-1
2 Filing of financial statement and other documents with the ROC 31.12.2021 – due date extended for all Companies including OPC

Within 30 days from the conclusion of the AGM, other than OPC

(In case of OPC within 180 days from the close of the financial year)

AOC-4
3 Filing of annual return by a company. 31.12.2021 – due date extended for all Companies including OPC

Within 60 days from the conclusion of AGM

MGT-7
4 Filing of annual return by a company. 31.12.2021 – due date extended for all Companies including OPC

Within 60 days from the conclusion of AGM – Applicable in respect of Annual Return for the F.Y. 2020-21 and onwards of OPC and small companies.

MGT-7A
5. Filing of Cost Audit Report with the Central Government 31.11.2021 – due date extended

Within 30 days from the receipt of Cost Audit Report

CRA-4

Important Updates – October, 2021

MCA Monthly Update Calendar: October, 2021

Sl.  Particulars of the Circulars Link
1 Engagement of Media Advisor on contract in contract in IEPF Authority Click Here
2 Advertisement Notice in Form No. 63 for invitation of claims in the matter of M/s. Blue Crystal Agro Chemicals Ltd., (in Liquidation) issued by the OL, Bengaluru Click Here
3 Dissolution Notice of various Companies (in liqn) issued by the OL Chandigarh Click Here
4 Extension of last date of filing of Cost Audit Report to the Board of Directors under Rule 6(5) of the Companies (Cost Records and Audit) Rules, 2014-reg. Click Here
5. Form MGT-7/MGT-7A is likely to be revised on MCA21 Company Forms Download page w.e.f 14th October, 2021. Stakeholders are advised to check the latest version before filing. Click Here
6. Expression of Interest (EOI) in the matter of M/s.Sirsilk Ltd. Click Here
7 ROC Annual Filing: Quick Referencer for All Companies Click Here
8 Relaxation on levy of additional fees in filing of e-forms AOC-4, AOC-4 (CFS), AOC-4, AOC-4 XBRL AOC-4 Non-XBRL and MGT-7/MGT-7A for the financial year ended on 31.03.2021 under the Companies Act, 2013 Click Here
9 Extension of last date of filing of Cost Audit Report to the Board of Directors under Rule 6(5) of the Companies (Cost Records and Audit) Rules, 2014-reg Click Here
10 Relaxations in paying additional fees in case of delay in filing Form 8 (the Statement of Account and Solvency) by Limited Liability Partnerships upto 30th December, 2021.- reg Click Here

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