Several deadlines related to personal taxation, GST are set for the month of May. Check out the listicle.
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May 2025 starts with critical tax compliance deadlines for businesses, government offices, and financial institutions. This month is the deadline for depositing Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) during April, set for 7 May 2025.
TDS certificates for deductions made in March 2025 that cover transactions under Sections 194-IA, 194M, and 194S must be issued by organizations by May 15, 2025. Government offices that processed TDS/TCS without a challan in April must submit Form 24G by May 15, 2025. Entities are required to provide their quarterly TCS statement for the quarter ending March 31, 2025.
By 30 May, organisations must fulfill key requirements, including the filing of challan-cum-statements for taxes deducted under specific sections, namely 194-IA, 194-IB, 194M, and 194S. TCS certificates for the final quarter of the financial year 2024–25 must be issued. Organisations need to submit Section 285B statements, detailing financial events from the previous fiscal year.
Quarterly TDS statements for the fourth quarter of FY 2024–25 must be submitted by May 31, 2025. This is also the last date for the return of superannuation fund deductions.
Forms 61A, which deal with financial transactions statements, and 61B, which deal with annual statements of reportable accounts, must be filed by May 31, 2025.
The key GST return filing dates for May 2025:
May 10: GSTR-7 (TDS deductors), GSTR-8 (E-commerce operators)
May 11: GSTR-1 (monthly filers, turnover > ₹5 crore)
May 13: GSTR-1A (April amendments), IFF (QRMP filers, turnover ≤ ₹5 crore), GSTR-5 (non-resident taxpayers), GSTR-6 (Input Service Distributors)
May 20: GSTR-3B (monthly summary return), GSTR-5A (OIDAR & offshore gaming services)
May 25: PMT-06 (GST payment for QRMP scheme)
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