Due Date Compliance Calendar for February 2021: A Complete Guide

Complying with the compliances proposed by the government is a mandatory requirement for every taxpayer or a person qualified. In this blog, we will discuss about the due date compliance calendar concerning Income Tax Return, Employee State Insurance Act, Provident Fund Act, GST Return Filing, etc.

Due Date Compliance Calendar under the GST Act

The due date compliance calendar under the GST Act can be summarised as:

GSTR 9

It is mandatory for all the registered persons, who are having an aggregate annual turnover of Rs 2 crore or more or who have opted to file Annual Return, to file GSTR 9 for the Financial Year 2019-2020 by 28.02.2021.

GSTR 9C

It is mandatory for all the registered persons, who are having an aggregate annual turnover of Rs 5 crore or more for the Financial Year 2019-2020, needs to file Reconciliation Statement between Audited Financial Statements and Annual Returns.

Also, it shall be relevant to take into consideration that, if in case, the annual turnover is more than Rs 2 crore but less than Rs 5 crore, then, in that case, it is optional to file GSTR 9C.

GSTR 3B

It is a monthly GST Return, and all the taxpayers who are generating an aggregate annual turnover up to Rs 5 crores in Category I, needs to file the same by 22.02.2021, for the month of January 2021.

However, if in case, a taxpayer has an aggregate turnover up to Rs 5 crores in category II, then, in that case, he/ she requires to file the said GST Return by 24.02.2021.

Also, it shall be noteworthy to take into consideration that, if in case the aggregate annual turnover is more than Rs 5 lakhs, then, in that case, the due date for filing is 20.02.2021.

GSTR 1

If the case of a taxpayer who is earning an aggregate turnover of Rs 5 crore or above, but has not opted for QRMP Scheme, then, in that case, the due date for filing the said GST Return for the month of January 2021 is 11.02.2021.

GST PMT 06

All the taxpayers who are opting for the QRMP Scheme needs to deposit the amount levied as tax by the 25^th of the succeeding month in the form GST PMT 06, for the first and second months quarter.

GSTR 5

All the Non Resident Taxable person need to file form GSTR 5 by 20.02.2021, for the month of January 2021.

GSTR 5A

The due date for filing Form GSTR 5A by the QIDAR, for the month of January 2021 is 20.02.2021.

GSTR 6

The due date for filing Form GSTR 6 by the Input Service Distributor for the month of January 2021 is 13.02.2021.

GSTR 7

All the person who need to deduct TDS under the provision of the GST Act, require to file Form GSTR 7 by 10.02.2021, for the month of January.

GSTR 8

All the E-commerce Operators who need to deduct TDS under the provisions of GST for the month of January 2021 need to file the said form by 10.02.2021.

Also, Read: Customs Import of Goods Amendment Rules 2021 Notified by CBIC

Due Date Compliance Calendar under the Income Tax Act

The due date compliance calendar under the Income Tax Act can be summarised as:

Annual Return for Income

All the assessee, as covered below, need to need to file the annual return for the income generated in the financial year 2019- 2020 by 15.02.2021:

• Corporate Assesse;
• Non Corporate Assesse (who need to get their books of account audited);
• Firm Partner, who need to get his/ her account audited;
• An assesse who needs to furnish a report under section 92 E of the Income Tax Act;

For Assesse other than Government

The due date for depositing Tax by an assesse other than an office of government, for the month of Jan 2021 is 07.02.2021.

Form 24 G

The Due date for furnishing of Form 24 G by an office of the Government, wherein, TDS (Tax Deducted at Source)/ TCS (Tax Collected at Source) for the month of January 2021 has been paid out without the production of a Challan is 15.02.2021.

For the Issuance of TDS Certificate under section 194 IA

The Due date for issuance of TDS Certificate concerning the tax deducted under section 194 IA (TDS on Immovable property) in the month of December 2020 is 14.02.2021.

For the Issuance of TDS Certificate under section 194 IB

The Due date for issuance of TDS Certificate concerning the tax deducted under section 194 IB (TDS on Certain Rent Payment) in the month of December 2020 is 14.02.2021.

For the Issuance of TDS Certificate under section 194 M

The Due date for issuance of TDS Certificate concerning the tax deducted under section 194 M in the month of December 2020 is 14.02.2021.

Filing of Declaration

The due date for filing declaration under VSVS has been extended from 31.01.2021 to 28.02.2021.

TDS Certificate – Quarter 3

The due date to file TDS certificate concerning the tax deducted for payments other than salary for the previous quarter (the financial year 2020 – 2021) is 15.02.2021.

Due Date Compliance Calendar under ESI and PF Act

The due date compliance calendar under ESI and PF Act can be summarised as:

ESIC Payment

The due date to make ESIC Payment for the month of January 2021 is 15.02.2021.

PF Payment

The due date to make PF Payment for the month of January 2021 is 15.02.2021.

PF Return Filing

The due date for filing PF Return for the month of January 2021 is 25.02.2021.

Due Date Compliance Calendar under Companies Act 2013

The due date compliance calendar under Companies Act 2013 can be summarised as:

Form AOC 4

The due date for filing MCA Form AOC 4, which is required for filing of Financial Statements by Corporates with ROC (Registrar of Companies), has been extended till 15.02.2021.

Conclusion

In a nutshell, we have tried to cover all the compliances relevant with respect to taxpayers or a person or entity qualified. In case of any doubt and dilemma, reach out to Swarit Advisors, we have a team of proficient and experienced Chartered Accountants, Company Secretaries, and Lawyer, who are there to cater to all your doubts and issues in an effective manner. Also, they can assist you with the ESI Registration, process of GST Registration, EPF Registration, etc., as well.

Also, Read: Advisory on Auto-Population of E-Invoice Details into Form GSTR 1