Tax Calendar by TRUEवित्त

TRUEवित्त Tax Calendar

Sun

Mon

Tue

Wed

Thu

Fri

Sat

Indian Tax Calendar 2025: GST, ITR, TDS Due Dates & Penalties Guide

A Guide to Indian Tax Penalties & Due Dates 2025

Understand the cost of delaying GST, ITR, TDS & PF payments with this complete guide to Indian tax compliance, late fees, and penalties.

Indian Tax Calendar 2025: Key Due Dates

A monthly and quarterly overview of crucial statutory compliance deadlines.

Monthly Statutory Due Date Timeline

7th

Monthly TDS/TCS Deposit

Due date to deposit tax deducted or collected in the previous month.

11th

Monthly GSTR-1 Filing

Last date for filing GSTR-1 for monthly filers (turnover > ₹5 Cr).

15th

PF & ESI Contribution Payment

Last date to deposit PF & ESI contributions for the previous month.

20th

Monthly GSTR-3B Filing

Last date for summary return and tax payment for monthly filers.

Annual & Quarterly Deadlines

Income Tax Return (ITR) Last Dates: Sep 15 (Non-Audit, AY 25-26), Oct 31 (Audit), Nov 30 (TP Cases).
Advance Tax Payment Due Dates: 15th of June, Sep, Dec, and March.

1. GST Due Dates and Late Filing Penalties

Understanding GST’s Domino Effect on Input Tax Credit (ITC)

The Ultimate Consequence: Loss of ITC

The most severe penalty for non-payment of GST is your customer’s inability to claim Input Tax Credit, directly damaging business relationships.

GST Penalties for Late Filing & Payment

Interest on Delayed GST Payment

18% per annum calculated on the outstanding tax for each day of delay.

Late Fee for GSTR-1 & GSTR-3B

₹50 per day, per return (CGST & SGST). A flat penalty that accumulates quickly.

Recipient’s Input Tax Credit is Blocked

Your customer cannot claim ITC until you deposit the tax, as per Section 16(2)(c) of the CGST Act.

2. TDS/TCS Penalties: Interest & Expense Disallowance

The Double Penalty of TDS: Direct Interest and Business Expense Disallowance

TDS Interest Rates: A Comparison

The law differentiates between failing to deduct and failing to pay after deducting. The penalty is higher for holding government funds.

How TDS Non-Compliance Impacts Your P&L

Non-compliance with TDS rules means you cannot claim the full business expense under Section 40(a)(ia), directly increasing your taxable profit.

Illustration based on a ₹1,00,000 expense where TDS was not deducted.

3. PF & ESI Due Dates and Late Payment Penalties

The Strict Rules of PF & ESI Compliance

PF Late Payment Damages

Beyond the standard 12% interest, EPFO imposes damages that increase based on the length of the delay in payment.

🚨

Immediate Loss of Business Deduction

Crucially, if you miss the PF/ESI payment due date (**15th of the month**), you permanently lose the ability to claim the employer’s contribution as a business expense under Section 43B. There is no grace period.

The Non-Compliance Cascade

How a Single Delay Triggers a Chain Reaction of Penalties

🗓️

Step 1: Due Date Missed

The statutory deadline for payment and/or filing is crossed.

📈

Step 2: Penalties Begin

On Day 1, mandatory interest and daily late fees start to accrue automatically.

⚠️

Step 3: Business Impact

Immediate consequences like loss of ITC for customers or disallowance of expenses hit your business’s bottom line.

⚖️

Step 4: Long-Term Risk

Prolonged delays can lead to departmental notices, scrutiny, audits, and even prosecution in severe cases.

Frequently Asked Questions

Common Questions About Indian Tax Compliance

What is the penalty for late filing of ITR?

If you miss the ITR filing due date, you can file a belated return under Section 139(4) until December 31st of the assessment year. However, a late filing fee under Section 234F of up to ₹5,000 applies. You also lose the ability to carry forward certain business losses and will be liable for interest on any tax due.

Can I claim Input Tax Credit (ITC) if my supplier has not paid GST?

No. As per Section 16(2)(c) of the CGST Act, a crucial condition for claiming ITC is that the tax charged by your supplier must have been actually paid to the government. If your supplier defaults, your ITC can be denied, making it essential to verify your vendors’ compliance.

What is the penalty for not deducting TDS on payments?

There are severe consequences. Firstly, interest at 1% per month is levied from the date tax was supposed to be deducted. Secondly, and more critically, the entire expense on which TDS was not deducted is disallowed under Section 40(a)(ia) of the Income Tax Act, which drastically increases your taxable profit and tax liability.

Is there a penalty for late payment of employer’s PF contribution?

Yes. If the employer’s contribution to PF and ESI is not deposited by the due date (15th of the next month), it is disallowed as a business expense under Section 43B. This rule is very strict and offers no grace period. Additionally, interest at 12% and damages up to 25% per annum are levied for the delay.