As we go through the financial year 2025–26, May 2025 has significant tax and regulatory deadlines for individuals and companies in India. It is essential to be updated with the Income Tax and GST Compliance Calendar to avoid penalties and ensure a smooth run. Regardless of whether you are an employee, business owner or a startup founder, compliance with ITR and GST on time is essential to fulfill legal requirements. This is a brief recap of the most significant deadlines and tips to handle your compliance properly.
Income Tax and GST Compliance Calendar in May 2025
Below is a concise summary of key deadlines that you need to remember this month.
Income Tax Compliance for May 2025
May 7, 2025 – Due date for TDS/TCS Payment
This is the payment due date for tax deducted or collected during April 2025. Employers and deductors are required to deposit TDS/TC/ under the relevant section of the Income Tax Act.
May 15, 2025 – Quarterly Statement of TDS/TCS (Jan-Mar 2025)
The quarterly TDS return for Q4 of FY 2024-25 is required to be submitted. This includes Form 24Q, 26Q, and 27Q based on the nature of payment and recipient.
May 30, 2025 – TCS Certificate Issue Date
The deadline for issuing TCS certificates (Form 27D) to customers or buyers for Q4 (Jan-Mar 2025).
May 31, 2025 – Filing of Statement of Financial Transactions (SFT)
Authorized persons have to file high-value transactions done during FY 2024-25, such as cash deposits, credit card transactions, buying of securities, etc.
Advance Planning for ITR Filing
Although the ITR filing due date for most taxpayers is July 31, 2025, May is an excellent time to start preparing your documentation. Early ITR filing helps avoid last-minute errors and gives ample time for correction if needed.
GST Compliance for May 2025
May 10, 2025 – GSTR-7 & GSTR-8
GSTR-7: Filed by persons required to deduct TDS under GST.
GSTR-8: Filed by e-commerce operators who collect TCS under GST.
May 11, 2025 – GSTR-1 (Monthly)
Companies with turnover over ₹5 crore or those who have opted for monthly filing under QRMP are required to file GSTR-1 for April 2025.
May 13, 2025 – IFF (Invoice Furnishing Facility) for QRMP Scheme
Taxpayers under QRMP can upload their B2B invoices for April through the IFF by this date.
May 20, 2025 – GSTR-3B Filing (Monthly and Quarterly)
Monthly filers: Return for April 2025.
QRMP scheme taxpayers: File return for Jan-March 2025.
May 25, 2025 – Payment of GST via PMT-06 (for QRMP)
Individuals under the QRMP scheme are required to pay GST for April under challan PMT-06.
GST Registration
May is a good month for new business people and expanding businesses to register for GST if they have exceeded the specified turnover limit. Early GST registration provides timely tax credits and prevents legal complications.
Other Regulatory Compliances in May 2025
✅ Deadlines for Trademark Registration
Though Trademark Registration is not like a monthly calendar of tax compliances, the company should be aware that deadlines for replying to examination reports or renewals (based on individual filing dates) are carefully watched. In case your company has made a trademark application in November 2024, you may receive an examination report sometime this month.
✅ MCA/ROC Compliances
- DIR-3 KYC: For directors who haven’t done their KYC in the last year, May is an ideal time to change contact information before the rush.
- Form MSME-1 (Half-yearly): Companies that deal with MSMEs have to file this form reporting outstanding dues to MSME vendors for Oct 2024 – Mar 2025.
Practical Tips to Handle May 2025 Compliances
Keep a Checklist
Prepare a compliance tracker for due dates of income tax, GST, ROC filings, and IP-related activities.
Automate Reminders
Utilize calendar tools, email reminders, or accounting software to keep track of deadlines.
Work with Professionals
Seek the advice of tax consultants, CAs, and company secretaries to prevent filing errors and stay current on recent amendments.
Early ITR Preparation
Start arranging your income documents, Form 16, investment proofs, and bank statements for ITR filing. This is particularly helpful for salaried professionals and freelancers.
Update Business Registrations
In case your turnover has grown, register for GST to prevent penalty. Also, make timely renewal or objection replies in case of trademark registration issues from the authorities.
Consequences of Missing May 2025 Compliance Deadlines
- Income Tax: Delayed TDS deposits incur interest @ 1.5% per month, and delayed filing of TDS returns could lead to ₹200/day penalties.
- GST: Late GSTR filings incur late fees and interest. Non-filing can hinder e-way bills and affect business processes.
- Trademark: Failure to reply within time can lead to abandonment of applications or rejection of trademarks.
- ROC Filings: Default can attract fines and director disqualifications.
Conclusion
The May 2025 Income Tax and GST Compliance Calendar is filled with several important deadlines that all professionals and business entities need to be aware of. From preparing ITR filings to GST registration and even tracking the status of your Trademark registration, compliance is best served proactively.