Compliance Calendar for the month of May 2021

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Recent scenario is worse and even getting more worse by each passing day. It is important for the businesses to stay compliant and fulfilling all the compliances related to business during the year. Considering statutory compliance and Tax compliance, every month is significant. Due dates related to ROC filing, GST return filings and Income Tax filing falls in the month of May, 2021 related to various tax compliance and statutory compliance, apart from this LLP Annual Compliance also need to be take care of. The due date for LLP form 11 for the financial year 2020-2021 shall be 30th May, 2021.

Table of Content

Importance of Compliance for Business

  • Helps in decision making
  • Improves efficiency and productivity
  • Helps organizing within the company
  • Reduces risks
  • Helps preventing criminal charges
  • Helps in building a positive reputation

Important due dates in the Month of May, 2021 for the GST Returns

Due Date Form to be filed Period Who should file?
10.05.2021 GSTR 7 April 2021 Filed by the person who is required to deduct TDS under GST.
10.05.2021 GSTR 8 April 2021 Filed by the e-commerce operators who is required to deduct TCS under GST.
11.05.2021 GSTR 1 April 2021 Taxpayers having an aggregate turnover of more than Rs. 1.50 Crores or opted to file monthly return.
13.05.2021 GSTR 1 IFF (QRMP) April 2021 Taxpayers who opted for QRMP scheme has to file this GST Return
13.05.2021 GSTR 6 April 2021 Input Service Distributors
20.05.2021 GSTR 5 & 5A April 2021 Non-Resident Taxpayers and ODIAR services provider 
20.05.2021 GSTR 3B April 2021 The due date for GSTR-3B having an Annual Turnover  
25.05.2021 GST Challan For all Quarterly filers GST Challan Payment if no sufficient ITC for April (For all quarterly filers)

Important due dates in the Month of May, 2021 for the Income Tax Compliance/PF/ESI

Due Date Form to be filed Period Who should file?
07.05.2021 Challan No. ITNS-281 April 2021 Payment of TDS/TCS deducted/collected in April, 2021
15.05.2021 TDS Certificate March 2021 Due date for issue of TDS Certificate for tax deducted under Section 194IA in the month of March, 2021
15.05.2021 TDS Certificate March  2021 Due date for issue of TDS Certificate for tax deducted under Section 194IB in the month of March, 2021
15.05.2021 TDS Certificate March  2021 Due date for issue of TDS Certificate for tax deducted under Section 194M in the month of March, 2021
15.05.2021 Filing of TCS Statement Quarterly Quarterly statement of TCS deposited for the quarter ending March 31, 2021
15.05.2021 Electronic Challan cum Return (ECR) (PF) April 2021 E-payment of provident fund
15.05.2021 ESI Challan April 2021 ESI Payment
15.05.2021 Form No. 3BB April 2021 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, 2021
30.05.2021 TDS Challan-cum-statement April 2021 Due date for furnishing of challan cum statement in respect of tax deducted under section 194-IA, 194-IB, 194M
30.05.2021 TCS Certificate 4th quarter of FY 2020-21 Issue of TCS certificates for the 4th Quarter of the Financial Year 2020-2021
31.05.2021 Form 24Q (TDS Return for Salary) January to March 2021 Statement for TDS from salaries
31.05.2021 Form 26Q (Filing of TDS statement) Quarterly Quarterly statement of TDS deposited for the quarter ending March 31, 2021

Important due dates in the Month of May, 2021 for the LLP Annual Filing

Due Date Form to be filed Period Who should file?
30.05.2021 LLP Form 11 FY 2020-21 LLP Annual Filing- An annual statement for submitting details of the business of the LLP and its partners for the FY 2020-21

If the Taxpayers file the above mentioned forms on or before due dates will save hefty penalties. The month of May is important for the due dates for various compliances under GST Act, Income Tax Act, 1961, Companies Act, 2013 and LLP Act, 2008.

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