| Form to be filed | Due date | Period |
| TDS Certificate-TDS Certificate for tax deducted under section 194-IB | 15.10.2024 | August 2024 |
| TDS Certificate-TDS Certificate for tax deducted under section 194S in the month of August 2024 Note: Applicable in case of a specified person as mentioned under section 194S | 15.10.2024 | August 2024 |
| TDS Certificate-TDS Certificate for tax deducted under section 194M | 15.10.2024 | August 2024 |
| TDS Certificate-TDS Certificate for tax deducted under section 194-IA | 15.10.2024 | August 2024 |
| Form No. 3BB | 15.10.2024 | September 2024 |
| Provident Fund (PF) | 15.10.2024 | September 2024 |
| Provident Tax (PT) | 15.10.2024 | September 2024 |
| TCS Certificate | 30.10.2024 | July to September 2024 |
| TDS Challan-cum-statement | 30.10.2024 | September 2024 |
| ITR (Income Tax Return) | 31.10.2024 | AY 2024-25 |
| Audit Report | 31.10.2024 | AY 2024-25 |
| Copies of Form No. 60 | 31.10.2024 | April to September 2024 |
| Non-TDS Return | 31.10.2024 | July to September 2024 |
| Annual Audited Account | 31.10.2024 | FY 2023-24 |
| Form no. 3CEAB for the accounting year 2023-24 | 31.10.2024 | FY 2023-24 |
| TDS Payment | 31.10.2024 | July to September 2024 |
| Form 3CEB in respect of international transactions and specified domestic transactions. | 31.10.2024 | AY 2024-25 |
Author: CA
GST COMPLIANCE CALENDAR FOR THE MONTH OF OCTOBER
| Forms to be filled | Due Date |
| GSTR-7 | 10-10-2024 |
| GSTR-8 | 10-10-2024 |
| GSTR-1-Other than QRMP | 11-10-2024 |
| GSTR-1-QRMP ( Furnishing Facility) | 13-10-2024 |
| GSTR-5 (Non-Resident Taxable Person) | 13-10-2024 |
| GSTR-6 (Input Service Distributor) | 13-10-2024 |
| GST-CMP-08 (Composition Scheme) | 18-10-2024 |
| GSTR-3B-(Other than QRMP ) | 20-10-2024 |
| GSTR-5A | 20-10-2024 |
| GSTR-3B(QRMP-Invoice Furnishing Facility) | 22-10-2024 |
| ITC-04 (PFY Turnover < Rs. 5 Crores) | 25-10-2024 |
Digital Accounting
Digital accounting refers to the use of digital tools and technologies to manage and process accounting tasks. This can include a variety of software solutions and systems that automate traditional accounting functions, making them more efficient and accurate. Here are some key aspects of digital accounting:
1. Accounting Software
- ERP Systems: Enterprise Resource Planning systems like SAP, Oracle, and Microsoft Dynamics integrate accounting with other business processes.
- Cloud Accounting: Software such as QuickBooks Online, Xero, and FreshBooks offer cloud-based solutions that allow for remote access and real-time updates.
2. Automation
- Automated Data Entry: Scanning and uploading invoices and receipts which are then automatically processed.
- Recurring Transactions: Automation of regular transactions such as payroll, rent, and utilities.
3. Data Analytics
- Financial Reporting: Tools that provide detailed financial reports and dashboards for better decision-making.
- Predictive Analytics: Using historical data to forecast future financial trends and outcomes.
4. Compliance and Security
- Regulatory Compliance: Ensuring that all financial activities adhere to local and international laws.
- Cybersecurity: Protecting sensitive financial data through encryption, access controls, and secure data storage.
5. Integration
- Bank Integration: Direct connections with bank accounts for real-time transaction updates.
- Third-party Apps: Integration with other business tools such as CRM systems, e-commerce platforms, and payment processors.
6. Collaboration
- Multi-user Access: Allowing multiple users to work on the same accounting data simultaneously.
- Remote Work: Enabling accountants and bookkeepers to work from anywhere, enhancing flexibility and productivity.
Benefits of Digital Accounting:
- Accuracy: Reduced human error through automated data entry and calculations.
- Efficiency: Faster processing of transactions and financial reporting.
- Cost Savings: Lower operational costs by reducing the need for physical storage and manual labor.
- Real-time Data: Instant access to up-to-date financial information for timely decision-making.
Challenges:
- Learning Curve: Initial training and adaptation to new software.
- Cybersecurity Risks: Protecting against data breaches and cyber-attacks.
- Dependence on Technology: Ensuring system reliability and dealing with potential downtime or technical issues.
Digital accounting is transforming the accounting profession by leveraging technology to enhance efficiency, accuracy, and decision-making. By adopting digital tools, businesses can streamline their financial processes, gain better insights into their financial health, and stay competitive in a rapidly evolving marketplace.
TDS Rate Chart For Assessment Year 2024-25
| Nature of Payment | Section | Threshold | Rate of TDS |
| Salary Payment | 192 | Taxable Income that is liable to tax | Normal slab rates or New Tax Regime Slab Rate as opted by the employee(Basic exemption limit for employees) |
| Premature Withdrawal from EPF | 192A | 50,000 | 10% |
| Interest on Securities | 193 | 2,500 | 10% |
| Dividend | 194 | 5,000 | 10% |
| Interest other than interest on securities (Bank Deposit/Post Office Deposit/Banking Co-Society Deposit) | 194A | 5,000 | 10% |
| (a) Senior Citizens | 50,000 | ||
| (b) Others | 40,000 | ||
| Winnings from lotteries, crossword puzzles, card games and other games | 194B | 10,000 | 30% |
| Income earned from winning in horse races | 194BB | 10,000 | 30% |
| Winning from Online Games | 194BA | _ | 30% |
| Payment of Contractors and sub-contractors | 194C | Single Transaction: 30,000/ Aggregate of Transactions: 1,00,000 | 1% (individual/HUF) 2% (others) |
| Insurance Commission | 194D | 15,000 | 5% (Individual) 10% (Companies) |
| Payment in respect of life insurance policy | 194DA | 1,00,000 | 5% |
| Payment to non-resident sportsmen/sports association | 194E | _ | 20% |
| Payments in respect of deposits under National Savings Scheme | 194EE | 2,500 | 10% |
| Payments on account of re-purchase of Units by Mutual Funds or UTI | 194F | _ | 20% |
| Commission, prize etc., on sale of lottery tickets | 194G | 15,000 | 5% |
| Commission or brokerage | 194H | 15,000 | 5% |
| Rent for plant and machinery | 194-I(a) | 2,40,000 | 2% |
| Rent for immovable property | 194-I(b) | 240000 | 10% |
| Payment for acquisition of immovable property other than agriculture land | 194-IA | 50 Lakhs | 1% |
| Payment of rent by individual or HUF | 194-IB | 50,000 per Month | 5% |
| Payment for Joint Development Agreements | 194-IC | _ | 10% |
| Fee for Professional or Technical Services (FTS), Royalty, etc. | 194J | 30,000 | 2% (FTS, certain royalties, call center) 10% (others) |
| Payment of dividend by Mutual Funds | 194K | _ | 10% |
| Payment of Compensation on acquisition of immovable property | 194LA | 2,50,000 | 10% |
| Payment of income by Business trust | 194LBA(1) | _ | 10% |
| Payment of income by Investment fund | 194LBB(i) | _ | 10% |
| Income by securitization trust | 194LBC(1) | _ | 25% (Individual/HUF) 30% (Others) |
| Payment to commission, brokerage etc. by Individual and HUF | 194M | 50 Lakhs | 5% |
| TDS on e-commerce participants | 194-O | 5 Lakhs | 1% |
| TDS on Senior Citizen above 75 Years | 194S | _ | 1% |
| Purchase of goods (applicable w.e.f 01.07.2021) | 194Q | 20,000 | 0.1% |
| TDS on benefit or perquisite of a business or profession | 194R | _ | 10% |
HAPPY INDEPENDENCE DAY
ROC Compliance Calendar -2024-2025
| Due Date | Forms to be filled |
| FLA | 30-09-2024 |
| KYC of Directors | 30-09-2024 |
| PAS-6 | 29-11-2024 (Apr 24-Sept 24) |
| MSME | 31-10-2024 |
| MGT-7/ MGT-7A- Annual Return | Within 30 days of AGM |
| MGT-14-Financials & Directors Report | Within 30 days from the date the resolution is duly passed and approved by the board members |
| AOC-4/AOC-4 (XBRL)-Financial Statement | Within 30 days of AGM |
What is Form DPT-3? Filing process and Document Requires for Form DPT-3
The DPT-3 form is a mandatory compliance form for companies in India under the Companies Act, 2013. It is used for filing returns of deposits or particulars of transactions not considered deposits or both, by companies. Here’s a detailed look at the form, filing process, and documents required
FORM DPT-3
Purpose:
To provide information regarding the loans, deposits, and outstanding receipts of money that are not considered deposits as per the Companies Act, 2013.
Filing Process for DPT-3
a. Gather Required Documents and Information:
- Financial statements for the relevant financial year.
- Details of loans, advances, or any amount received that is not considered a deposit.
- Auditor’s certificate, if required.
b. Preparation:
- Prepare the necessary data and ensure all details are accurate. This includes details of deposits, amounts not considered deposits, and particulars of receipts.
c. Form Filling:
- Access the Ministry of Corporate Affairs (MCA) portal.
- Download the DPT-3 form.
- Fill in the required information, such as company details, net worth, total outstanding money or loan received, and the amount not considered as deposits.
d. Attachment of Documents:
Attach all necessary documents such as:
- Audited financial statements.
- Auditor’s certificate.
- Copy of the board resolution authorizing the filing.
- Other relevant documents, if any.
e. Verification and Certification:
- Ensure that the form is properly verified and certified by the authorized signatory.
- The form may need to be digitally signed by the director or the company secretary.
f. Upload and Payment:
- Upload the filled and signed form on the MCA portal.
- Pay the requisite fee for filing the form.
g. Submission:
- After successful payment, submit the form.
- Ensure to receive an acknowledgment for the filing.
Documents Required for Form DPT-3 Filing
a. Financial Statement:
Audited financial statements for the relevant financial year.
b. Auditor’s Certificate:
A certificate from the auditor of the company certifying the particulars provided in the form.
c. Board Resolution:
A copy of the board resolution authorizing the filing of the form.
d. Details of Outstanding Receipts:
Detailed information about the amounts received by the company that are not considered deposits.
e. Other Relevant Documents:
Any other documents that support the information provided in the DPT-3 form.
NOTE:
- Due Date: The DPT-3 form must be filed annually and within the prescribed time limit as per the MCA guidelines.
- Penalties: Failure to file the DPT-3 form within the stipulated time may result in penalties and fines as per the Companies Act, 2013.
- Applicability: This form is applicable to all companies except Government companies.
COMPLIANCE CALENDAR FOR THE MONTH OF JULY, 2024
GST Returns in the Month of July, 2024
| Form to be Filed | Due Date | Period |
| GSTR-3B | 20-07-2024 | June 2024 |
| GSTR 5A | 20-07-2024 | June 2024 |
| GSTR-3B (QRMP) | 22-07-2024 | June 2024 |
Income Tax Compliance/ESI/PF in the month of July, 2024
| Form to be Filed | Due Date | Period |
| Challan cum TDS statement [Tax deducted under 194IA (Form 26 QB), 194IB (Form 26 QC), and 194M(Form 26 QD)] | 30-07-2024 | June 2024 |
| Quarterly TCS Certificate | 30-07-2024 | April-June 2024 |
ITR FILING LAST DATE FY 2023-2024 (AY 2024-2025)
ITR filing last date for Financial Year 2023-24 (AY 2024-25) is July 31, 2024. If you miss filing within the due date, you can still file a belated return before Dec- 31 2024.
ROC Due Dates For Filing of Forms-Company FY 2023-24 Annual Return, DIR-KYC, ADT-1, MSME/Company/ LLP Filing Due Dates
| FORM | PERIOD | COMPLIANCE | DUE DATE |
| MSME-01 | 1st Oct 2023 to 31st Mar 2024 | For furnishing half yearly return with the registrar respect of outstanding payments to Micro or small Enterprises. | 30th Apr 2024 |
| MSME-01 | 1st Apr 2024 to 30th Sept 2024 | For furnishing half yearly return with the registrar respect of outstanding payments to Micro or small Enterprises. | 31st Oct 2024 |
| PAS-06 | 1st Oct 2023 to 3st Mar 2024 | Reconciliation of Share Capital Audit Report (Half-Yearly) | 30th May 2024 |
| PAS-06 | 1st Apr 2024 to 30th Sept 2024 | Reconciliation of Share Capital Audit Report (Half-Yearly) | 29th Nov 2024 |
| DPT-03 | FY 2023-2024 | Form DPT-3 shall be used for filing return of deposit or particulars of transaction not considered as deposit or both by every company other than Government company | 30th Jun 2024 |
| DIR-03 KYC | FY 2023-2024 | Form No. DIR-3-KYC is used for filing application for KYC of Directors | 30th Sept 2024 |
| AGM | FY 2023-2024 | AGM for FY 2023-24 can be done upto 30th Sept 2024 | 30th Sept 2024 |
| ADT-01 | FY 2023-2024 | Form-ADT-01 is filed for informing ROC about Appointment of the Auditor. Filed in 15days from the conclusion of AGM. | 14th Oct 2024 |
| AOC-04 | FY 2023-2024 | Form for filling financial statement and other documents with the Registrar. Filed in 30days from the conclusion of AGM. | 30th Oct 2024 |
| AOC-04 | FY 2023-2024 | Form for filling financial statement and other documents with the Registrar. Filed in 180days from the end of FY | 27th Sept 2024 |
| MGT-7A /MGT-07 | FY 2023-2024 | Form for Filling Abridged Annual Return for OPCs and Small Companies. Filed in 60days from the conclusion of AGM. | 29th Nov 2024 |
| Form-11 | FY 2023-2024 | Annual Return of LLP | 30th May 2024 |
| DIR-03 KYC | FY 2023-2024 | Form No. DIR-3 KYC is used for filing application for KYC of Directors. | 30th Sept 2024 |
| Form-08 | FY 2023-2024 | Statement of Account & Solvency and Charge filing | 30th Oct 2024 |
