May 2025 tax filing & compliance deadlines: What's due, when, and by whom

From TDS/TCS filings to Form 61A/B submissions: know what's due, when, and who must act. Stay compliant to avoid penalties

May is a month of tax deadlines for individuals, employers, financial institutions and other organisations. Here’s a role-wise breakdown of each deadline set by the Income-Tax Department.

May 7, 2025

What’s due

• Deposit of TDS/TCS for April 2025 
• Uploading Form 27C declarations for April

Who must act

• Employers and other deductors: Ensure all tax deducted or collected in April is deposited to the government account by May 7. Late payment attracts interest at 1.5 per cent per month. 
• Buyers (Form 27C declarants): Submit any lower-withholding declarations (Form 27C) to your seller or collector; sellers/collectors must upload these declarations to the department’s portal by this date.

May 15, 2025

What’s due

• Issue TDS certificates for March deductions under Sections 194-IA (property), 194M (contractors), and 194S (specified persons) 
• Furnish Form 24G for government offices (April’s TDS/TCS paid without challan) 
• Quarterly TCS statement for January–March quarter 
• Form 3BB by stock exchanges/recognised associations (April trades with modified client codes)

Who must act

• Specified deductors (property buyers, contractors, designated persons): Issue March TDS certificates to payees. 
• Government offices: File Form 24G if April’s TDS/TCS was deposited without production of a challan. 
• Collectors of TCS: Submit Q4 (January-March) TCS statement. 
• Stock exchanges and recognized associations: Report April transactions with altered client codes via Form 3BB.

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May 30, 2025

What’s due

• Challan-cum-statement for April TDS under Sections 194-IA, 194-IB, 194M, 194S 
• Issue TCS certificates for Q4 FY25 
• Section 285B statement for FY25

Who must act

• All deductors under the above sections: File your challan-cum-statement for April deductions. 
• TCS collectors: Provide Q4 certificates to buyers to help them claim credits. 
• Applicable deductors (e.g., NRE bank branches): Furnish the annual statement under Section 285B.

May 31, 2025

What’s due

• Quarterly TDS statement for January-March quarter 
• Trustee return for approved superannuation fund contributions 
• Form 61A (SFTR) and Form 61B (CRS)

Who must act

• Employers & other deductors: Submit Q4 TDS statement. 
• Trustees of superannuation funds: File returns of tax deducted on employee contributions. 
• Reporting financial institutions

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Form 61A: Statement of reportable transactions for FY25

 

Form 61B: Annual CRS account statement for calendar year 2024