Tax Calendar - June 2024

We at Pierian services have comprehensively compiled upcoming Tax Compliances under various statutes such as Income Tax, Goods and Service Tax, Professional Tax, ESIC, etc. applicable in June 2024. Keeping track of these deadlines is crucial for maintaining business compliance and avoiding penalties:

1. 7th June: Income Tax – TDS Payment for May 2024
2. 10th June: State PT Act (Varies by state) – Professional Tax (PT) on Salaries for May 2024
3. 11th June: GST – GSTR-1 (Details of outward supplies of taxable goods and/or services)
4. 13th June: GST – GSTR-1 (IFF) – Optional filing for QRMP registered businesses with turnover less than Rs. 5 Crore
5. 15th June: Income Tax – Challan Payment (1st Installment) for April 2024 to June 2024 (Advance Tax Payment); Issuance of TDS Certificates (Form 16) for FY 2023-2024
6. 15th June: PF, PT & ESIC Act – Provident Fund (PF), Professional Tax & Employee’s State Insurance (ESI) Returns Payment for May 2024
7. 20th June: GST – GSTR-3B (Monthly return for GST with details of tax liability)
8. 25th June: GST – Challan Payment (Payment of GST for May 2024 if no sufficient Input Tax Credit)
9. 30th June: Companies Act – Form DPT-3 (Annual Return to disclose deposit information for FY 2023-24)
10. 30th June: Income Tax – TDS Payment for May 2024 on Property sales, Rent (Forms 26QB, 26QC, 26QD, 26QE)
11. 30th June: Income Tax - Filing of Form 1 for Equalisation Levy
12. 30th June: DGFT Online Renewal (Renewal of Importer-Exporter Code, IEC)

Why Timely Compliance Matters:

1. Avoid Penalties and Late Fees: Missing deadlines can result in significant financial penalties and late fees, impacting your cash flow.
2. Maintain Business Credibility: Consistent compliance demonstrates professionalism and fosters trust with regulatory authorities.
3. Minimize Risk of Audits: Timely filings reduce the chance of triggering unnecessary audits that can be time-consuming and disruptive.

Feel free to share this comprehensive list with your network! If you have any further questions or need additional details, feel free to ask. ????

Manish Aggarwal Gurunath Kanathur Chetan Venugopal Abhishek Gupta CA Badrinath Sharma