Regarding Statutory Obligations for the Month of November

Nov, 06 2020
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This is to remind that the following statutory obligations have to be complied by our group companies/ individuals to the extent as applicable:

INCOME TAX

  1. Extended last date to file Belated Income Tax Return for assesse who has not filled their return or audit for FY 2018-19 is 30.11.2020.
  2. 31.12.2020 is the due date to file Tax Audit Report in case of Tax Audit Assessees for the Financial year 2019-20.
  3. 31.12.2020 is the due date to file Income Tax Return in case of Non-audit assesse for FY 2019-20.

(Note: - Interest u/s 234A shall be charged for taxpayers whose self-assessment tax liability is more than Rs. 1 Lakh.)

TDS

  1. TDS for the Month of October-2020 to be deposited on or before 07-11-2020.

GST

  1. Due date for filing GSTR-3B for the month of October-2020 is as follows:-
  • If Annual Turnover is Rs. 5 Cr. Or more in Previous Financial Year – 20.11.2020
  • If Annual Turnover is upto Rs. 5 Cr. in Previous Financial Year and Registered in Madhya Pradesh, Maharashtra, Karnataka and Telangana – 22.11.2020
  • If Annual Turnover is upto Rs. 5 Cr. in Previous Financial Year and Registered in Haryana. Delhi, Rajasthan and Uttar Pradesh – 24.11.2020.
  1. The annual return of GST for the period 01.04.2018 to 31.03.2019 and 01.04.2019 to 31.03.2020 is required to be filed along with statutory GST audit report, if Turnover for the period is Rs. 5 Crore or more, till 31.12.2020.\
  2. The annual return of GST for the period 01.04.2018 to 31.03.2019 and 01.04.2019 to 31.03.2020 is required to be filed if Turnover for the period is Rs. 2 Crore or more, till 31.12.2020.

 ESI / PF

 

  1. 15.11.2020 is due date for payment of Provident Fund Contribution for the month of October 2020.
  2. 15.11.2020 is due date for payment of ESI Contribution for the month of October 2020.

 

AUDIT

  1. UDIN: - As per new guidelines issued by ICAI effective from 01.07.2019 every statutory auditor shall upload particulars of audit report on UDIN portal of ICAI. It cannot be generated after 15 days of the date of balance sheet. The Balance Sheet date cannot go beyond 05.12.2020.

    So it is advisable to update your books of accounts for the Financial Year 2019-20 and get them audited as early as possible for timely Compliance and to avoid last minute rush.

Thanking you,

Yours Faithfully,

Kila & Co.

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