Taxpayers should complete these 12 income tax related tasks immediately, the deadline is ending

Deadlines for new tax-related work have been set in May. It is important to complete them on time. Otherwise, there may be problems later.

Income Tax Calendar May 2025: The month of May has started. This time is very special for taxpayers, employers and financial institutions. Because the last date for many income tax related tasks is about to end. If these are not dealt with on time, then problems may also have to be faced. Here such tasks and their related deadlines are explained.

The last date for depositing TDS or TCS for April 2025 is 7 May. Employers and other deductors have to ensure that it is deposited in the government account before the deadline ends. After the deadline, 1.5% interest will be charged per month. Apart from this, this is the last chance to upload Form 27C declarations till this day. This work is necessary for sellers.

These 3 tasks must be completed by May 15

  • This is the last date for issuing TDS certificates for March deductions under sections 194-IA, 195M and 194S.
  • May 15 is also the deadline for government offices to submit Form 24G.
  • Stock exchanges or recognized associations will have to report April transactions with revised client codes through Form 3BB.
  • Quarterly TCS statements for the January to March quarter will have to be submitted to the collector.

It is also important to complete these tasks in May

  • The last date for filing challan cum statement for April TDS under sections 194-IA, 194B, 195M and 194S is May 30, 2025.
  • The deadline for submitting section 285B details for FY 2025 is May 30. It is necessary to issue TCS certificate for the fourth quarter of FY 2025 by this date.
  • The deadline for submitting quarterly TCS statement for January to March quarter for employers and other deductors is May 31.
  • Trustees of superannuation funds can file returns of tax deducted on employee contributions by May 31.
  • The last date for submitting Form 61A and Form 61B for financial institutions is also May 31, 2025.

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