Statutory And Tax Compliance Due Dates For The Month Of May 2023

List of Statutory And Tax Compliance For The Month Of May 2023

Individuals and businesses, large and small, are required in India to comply with tax and statutory compliance requirements. It is critical for all businesses (Private Limited Company, Public Limited Company, Limited Liability Partnership, Partnership, or Sole Proprietorship Firm) to keep track of various compliance Due dates that fall in each month of the year, such as Income Tax Return Filing, GST Return Filing, ROC Compliance Due dates, and so on.

It is important for Startups & businesses to stay compliant with various compliance during the month.

Please refer to various due dates for the month of May 2023

07th June

• Due Date for Payment of TDS for the month of May 2023
  

10th June

• ‍‍Due Date for filling GSTR 7 & GSTR 8 for the month of May 2023

11th June

• ‍‍GSTR 1 for May 2023 - Taxpayers having an aggregate turnover of more than Rs.5 Crores or opted to file Monthly Return‍

13th June

• GSTR 1 IFF (Optional) (May 2023) for QRMP
• GSTR 6 for the month of May 2023 for ISD (Input Service Distributor)

14th June

• Due date for issue of TDS Certificate for tax deducted undersection 194-IA in the month of April 2023
• Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of April 2023‍

15th June

• ‍‍Payment of PF & ESIC for the month of May 2023
• First instalment of advance tax (15%) for the assessment year 2024-25
• Quarterly TDS certificates (in respect of tax deducted for payments other than salary) for the quarter ending March 2023
• Certificate of tax deducted at source to employees in respect of salary paid and tax deducted during Financial Year 2022-23

20th June

• ‍‍GSTR 3B for the month of May 2023 for a taxpayer other than QRMP taxpayers
• Filing GSTR 5 & 5A for May 2023‍

25th June

• Due date for payment of GST under QRMP scheme 

30th June

• Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA in the month of May 2023
• Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of May 2023
• Form DPT-3 (Return of Deposits) for FY 2022-23
• PT Return for the month of May 2023 (Monthly Filer)
• Form 10BD - This signifies that all eligible trusts, organizations, and institutions need to file the donation return in Form 10BD on or before 30 June in the following financial year in which they received the donation.
• Deadline for linking PAN with Aadhaar to avoid PAN becoming inoperative (Note: The deadline has been extended from March 31, 2023 to June 30, 2023 vide press release, dated 28-03-2023)

The month of June 2023 is crucial 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. 

Do contact J&S Team in case you would require any clarification on the same.

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