Staying compliant with tax regulations means keeping an eye on important deadlines. May 2025 brings several critical due dates for TDS, TCS, and statutory filings. This guide breaks down what you need to know to avoid penalties and ensure smooth financial planning.
Important Tax Compliance Deadlines in Early May
May 7, 2025: This is the due date for depositing tax deducted or collected at source (TDS/TCS) for April 2025. Government offices must pay taxes without a challan on the same day of deduction. It’s also the final day to upload declarations in Form 27C received from buyers in April.
May 15, 2025: Tax deductors must issue TDS certificates under Sections 194-IA, 194-M, and 194S for March 2025. Additionally, government offices are required to furnish Form 24G if April TDS/TCS was paid without a challan. The deadline also applies to:
- Quarterly TCS deposit statements for Q4 FY 2024–25
- Form No. 3BB submissions by stock exchanges for April 2025
- Statements from recognized associations for modified client codes in April
Mid to End of May: Reporting, Certificates, and Returns
May 30, 2025: Entities must submit the challan-cum-statement for tax deducted under Sections 194-IA, 194-IB, 194M, and 194S for April 2025. TCS certificates for Q4 FY 2024–25 must also be issued. In addition, companies involved in event organization or film production must file disclosures under Section 285B.
May 31, 2025: The final day of the month brings a heavy compliance load:
| Form | Purpose |
|---|---|
| Form 26Q/27Q/27EQ | Quarterly TDS statements for Q4 (ending March 31, 2025) |
| Form 3CEAD | Country-by-Country report by Indian subsidiaries of multinational enterprises |
| Form 67 | To claim foreign tax credit for AY 2022–23 (Updated ITR) |
| Form 61A | Statement of financial transactions (SFT) for FY 2024–25 |
| Form 61B | Annual reportable account filings by financial institutions (CY 2024) |
Meanwhile, trustees of approved superannuation funds must also file their annual return of tax deducted from contributions by this date.
Final Thoughts on May’s Tax Schedule
May 2025’s tax calendar features a blend of recurring obligations and critical reporting deadlines. Individuals, corporations, and government entities should proactively prepare and cross-check submissions to avoid last-minute rushes. Staying ahead of these compliance checkpoints supports smoother audits and strengthens financial transparency.
For official forms and updates, visit the Income Tax Department’s website.