Missing income tax deadlines can lead to penalties and missed opportunities. This guide ensures you stay compliant from January to March 2025.
January 2025: Start the Year Right
January comes with important responsibilities for taxpayers, especially for those handling TDS and TCS obligations.
Did You Know As per Indian tax rules, you can claim an 80C deduction even if investments are made on March 31, the last day.
| Date | Task | Who Should Act? |
|---|---|---|
| January 7 | Deposit TDS/TCS for December 2024 | Employers and businesses deducting TDS/TCS |
| January 15 | File TCS Returns for Q3 FY 2024-25 | Businesses collecting TCS |
| January 31 | Submit TDS Returns and Issue TDS Certificates | All TDS deductors |
Action Tip for January
Ensure you double-check all entries in your TDS/TCS filings to avoid corrections or delays in the next quarter.
February 2025: The Preparation Month
This month is an excellent time to review your financials and prepare for the fiscal year-end.
| Date | Task | Who Should Act? |
|---|---|---|
| February 7 | Deposit TDS/TCS for January 2025 | All TDS/TCS deductors |
| February 15 | Issue Form 16A for Q3 FY 2024-25 | TDS deductors |
Income Tax Action Tip for February
Organize receipts and documents for tax-saving investments. This will save time when filing returns in March.
March 2025: Final Quarter for Compliance
March is the most crucial month as it marks the financial year’s close.
| Date | Task | Who Should Act? |
|---|---|---|
| March 7 | Deposit TDS/TCS for February 2025 | All TDS/TCS deductors |
| March 15 | Pay the fourth installment of Advance Tax | Taxpayers liable to advance tax |
| March 31 | File belated/revised ITR for AY 2024-25 | Late or revised ITR filers |
| March 31 | Complete tax-saving investments for FY 2024-25 | Individuals and HUFs |
Action Tip for March
Check all calculations for advance tax and investment proofs to avoid errors in your final filing.
Conclusion
January to March 2025 is a critical period for taxpayers. Meeting deadlines ensures smooth tax compliance, avoiding penalties and interest charges. Stay organized, keep a checklist, and file everything on time.
Make tax compliance simple by following this calendar and taking timely action.
Disclaimer
This article is for informational purposes only and does not constitute financial or tax advice. Tax laws are subject to amendments, and individual circumstances may vary. Readers are advised to consult a qualified tax professional or refer to the official Income Tax Department resources for personalized guidance. The author and publisher are not responsible for any decisions made based on this information.
