COMPLIANCE CALENDAR FOR THE MONTH OF MAY 2020

S. No Particulars of Compliance Forms/returns Due Date

Compliances Calendar for GST
1. Return of outward supplies of taxable goods and/or GSTR -1 30-06-2020
services for the Month of March, 2020 to May 2020 (for
Assesses having turnover exceeding 1.5 Cr.) Monthly
Return.
2. Return of outward supplies of taxable goods and/or GSTR -1 30-06-2020
services for the Month of January-March 2020 (for
Assesses having turnover exceeding 1.5 Cr.) Quaterly
Return.
3. Summary Return of Outward and Inward Supplies along GSTR -3B 30-06-2020
with payment of Tax where the Turnover of taxpayer is
upto Rs. 5 Crores for the Month of March, April and
May 2020.
4. Summary Return of Outward and Inward Supplies along GSTR -3B 30-06-2020
with payment of Tax where the Turnover of entity is
More than Rs. 5 Crores for the Month of March, April
and May 2020.
5. A taxable person who opts for cancellation of GST GSTR-10 30-06-2020
registration has to file a final return under GST law in
form GSTR-10 within three months.
6. GST Annual Return and Reconciliation Statement for FY GSTR-9 / 9A and 30-06-2020
2018-19. GSTR-9C
7. Summary of outward taxable supplies and tax payable GSTR-5 & 30-06-2020
by Non-Resident taxable person & OIDAR. GSTR – 5A
8. Return for Input Service Distributor. GSTR – 6 30-06-2020
9. Due date for filing GSTR-7 to be filed by the person GSTR – 7 30-06-2020
who is required to deduct TDS under GST for the
month of December,2019.
10. The due date for furnishing statement by e-commerce GSTR-8 30-06-2020
companies for the Month of December 2019.
11. Return filed by composition dealer statement-cum- 30-06-2020
challan to declare the details or summary of his/her
selfassessed tax payable for a quarter ending January
2020 to March 2020.
12. Payment under Sabka Vishwas Scheme. 30-06-2020
13. Intimation in respect of opting to pay tax under 30.06.2020
composition scheme for the FY 2020-21
14. Interest for delayed GST payment will be calculated 01-07-2020
on the net tax liability. This amendment will apply
retrospectively from 1st July 2017.
15. Registered person availing the benefit provided under Form GST CMP- 07.07.2020
Notification 2/2019 – Central Tax (Rate) shall be 08
required to furnish details of self-assessed tax for
 quarter ending March 2020
16. The yearly return for 2019-20 shall be required to be Form GSTR 4 15.07.2020
filed by the Composition tax payers
17. Filed by a taxpayer who is liable to pay an amount 31.07.2020
that is equal to the input tax credit through cash
ledger or electronic credit
18. The implementation of the new GST return system 01-10-2020
has been postponed to 1st October 2020.
Compliances Calendar for ESI and PF Payments
1. PF Payment for March 2020 ECR 15-05-2020
2. ESIC Payment for March 2020 ESI Challan 15-05-2020
ESI contribution deposit due date extended to 45 days for Feb & March 2020 due to COVID 19
Compliances Calendar for Income Tax Act
1. Due date for deposit of Tax deducted by an office of the 30-06-2020
government for the month of March, 2020 to May 2020.
However, all sum deducted by an office of the
government shall be paid to the credit of the Central
Government on the same day where tax is paid without
production of an Income-tax Challan.
2. Due date for issue of TDS Certificate for tax deducted 30-06-2020
under section 194-IA in the month of March, 2020 to
May 2020.
3. Due date for issue of TDS Certificate for tax deducted 30-06-2020
under section 194-IB in the month of March, 2020 to
May 2020.
4. Due date for issue of TDS Certificate for tax deducted 30-06-2020
under section 194M in the month of March, 2020 to May
2020.
5. Quarterly statement in respect of foreign remittances (to Form No. 15CC 30-06-2020
be furnished by authorized dealers) for quarter ending
March, 2020.
6. Due date for furnishing by an office of the Government Form 24G 30-06-2020
where TDS/TCS for the month of April, 2020 has been
paid without the production of a challan
7. Quarterly statement of TCS deposited for the quarter 30-06-2020
ending March 31, 2020
8. Due date for furnishing statement by a stock exchange in Form no. 3BB 30-06-2020
respect of transactions in which client codes been
modified after registering in the system for the month of
March, 2020.
9. Submission of a statement by non-resident having a Form No. 49C 30-06-2020
liaison office in India for the financial year 2019-20
10. Due date for furnishing by an office of the Government 30-06-2020
where TDS/TCS for the month of March, 2020 has been

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 paid without the production of a challan.
11. Due date for furnishing of challan-cum-statement in 30-06-2020
respect of tax deducted under section 194-IA in the
month of March, 2020 to May 2020.
12. Due date for furnishing of challan-cum-statement in 30-06-2020
respect of tax deducted under section 194-IB in the
month of March, 2020 to May 2020.
13. Due date for furnishing of challan-cum-statement in 30-06-2020
respect of tax deducted under section 194M in the month
of March, 2020 to May 2020.
14. Quarterly statement of TDS deposited for the quarter 30-06-2020
ending March 31, 2020
15. Return of tax deduction from contributions paid by the 30-06-2020
trustees of an approved superannuation fund
16. Due date for furnishing of statement of financial 30-06-2020
transaction (in Form No. 61A) as required to be furnished
under sub-section (1) of section 285BA of the Act respect
of a financial year 2019-20
17. Due date for e-filing of annual statement of reportable Form No. 61B
accounts as required to be furnished under section
285BA(1)(k) for calendar year 2019 by reporting
financial institutions*
18. Due date for deposit of Tax deducted by an assessee 30-06-2020
other than an office of the Government for the month of
March, 2020.
19. Due date for e-filing of a declaration in Form No. 61 30-06-2020
containing particulars of Form No. 60 received during the
period October 1, 2019 to March 31, 2020.
20. Due date for uploading declarations received from Form. 15G/15H 30-06-2020
recipients in form during the quarter ending March, 2020.
21. Due date for deposit of TDS for the period January 2020 30-06-2020
to March 2020 when Assessing Officer has permitted
quarterly deposit of TDS under section 192, 194A, 194D
or 194H.
22. The due date for linking of PAN with Aadhaar as 30-06-2020
specified under sub-section 2 of Section 139AA of the
Income-tax Act,1961 has been extended from 31st
December, 2019 to 31st March, 2020 and further
extended to 30th June, 2020 due to COVID – 19
outbreaks.
23. The date for making investments & payments for 30-06-2020
claiming deduction under Section 80C (LIC, PPF, NSC
etc.), 80D (Mediclaim), 80G (Donations), extended to
30th June 2020 for FY 2019-20.
24. All delayed payments of advance tax, self assessment 30-06-2020
tax, TDS, TCS, equalization levy, STT, CTT made

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 between 20/03/2020 and 30/06/2020 will be charges at
reduced interest rate i.e., 9% p.a instead of 12% p.a.
25. The due date for issue of notice, intimation, order, 30-06-2020
investment in tax saving instruments, investments for
rollover benefit of capital gains under Income Tax has
been extended to 30th June 2020.
26. Application for allotment of PAN in case of non- 30-06-2020
individual resident person, which enters into a financial
transaction of Rs. 2,50,000 or more during FY 2019-20
and hasn't been allotted any PAN
27. Application for allotment of PAN in case of person being 30-06-2020
managing director, director, partner, trustee, author,
founder, karta, chief executive officer, principal officer
or office bearer of the person referred to in Rule 114(3)
(v) or any person competent to act on behalf of the
person referred to in Rule 114(3)(v) and who hasn't
allotted any PAN
28. Filing of revised return for the Assessment Year 2019-20 30-06-2020
29. Filing of belated return for the Assessment Year 2019-20 30-06-2020
Compliances Calendar for LODR/SEBI
1. Submission of Statement of Investor complaints Regulation 13(3) 15-05-2020
2. Submission of Submission of Corporate Governance Regulation 27(2) 15-05-2020
report
3. Submission of Shareholding Pattern Regulation 31 15-05-2020
4. SEBI has decided to exempt the requirement of - 15-05-2020
publication of advertisements in newspapers as required
under the LODR, for information such as notice of the
board meeting, financial results, etc., till 15th May, 2020.
5. Regulation 40(9) relating to Certificate from Practicing 31-05-2020
Company Secretary on timely issue of share certificates
6. Submission of Compliance certificate on share transfer Regulation 7(3) 31-05-2020
facility
7. Extension of the due date of filing disclosures, in terms 01-06-2020
of Regulations 30(1), 30(2) and 31(4) of the SAST
Regulations for the financial year ending March 31, 2020
8. Submission of Financial Results- 45 days from end of the Regulation 52 30-06-2020
Half year
9. Submission of Financial Results- 60 days from end of the Regulation 52 30-06-2020
financial year
10. Submission of Secretarial Compliance report Regulation 24A 30-06-2020
11. Submission of Financial Results Regulation 33 30-06-2020
12. The board of directors and Audit Committee of the listed Relaxation of -
entity are exempted from observing the maximum time gap between
stipulated time gap between two meetings for the two board / Audit
meetings held or proposed to be held between the period Committee

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 December 1, 2019 and June 30, 2020. meetings
However, the board of directors / Audit Committee shall
ensure that they meet atleast four times a year, as
stipulated under regulations 17(2) and 18(2)(a) of the
LODR
13. The Nomination and Remuneration Committee, 30-06-2020
Stakeholders Relationship Committee & The Risk
Management Committee shall meet at least once in a year
14. Regulation 44(5) relating to holding of AGM by top 100 30-09-2020
listed entities by market capitalization for FY 19-20
15. SEBI had issued Standard Operating Procedure (“SOP”)
dated 22ndJanuary, 2020, on imposition of fines and
other enforcement actions for non-compliances with
provisions of the LODR, the effective date of operation
of which was to be for compliance periods ending on or
after 31st March, 2020. The said SOP will now come into
force with effect from compliance periods ending on or
after 30th June, 2020.
Compliances Calendar for RBI (FEMA)
1. “The Company / reporting entity shall take approval from FLAIR -
the RBI in case of submission of FLA Return of 2019 /
revision of FLA Return of 2019 after due date i.e July 31,
2019.

Further, submission of FLA returns for previous years

will be activated only after September 01, 2019 (as per
FLAIR Portal)
2. Borrowers are required to report all ECB transactions to ECB 2 Return 07-04-2020
the RBI on a monthly basis through an AD Category – I
Bank in the form of ‘ECB 2 Return’.
Compliance Calendar for Companies Act, 2013
1. Funds may be spent for various activities related to Spending of CSR -
COVID-19 under item nos. (i) and (xii) of Schedule VII Funds for
relating to promotion of health care, including preventive COVID-19
health care and sanitation, and, disaster management. It
has clarified that spending of CSR funds for COVID-19
shall be considered as an eligible CSR activity.
2. LLP Settlement 01-04-2020 to
Modified LLP Settlement Scheme, 2020 Scheme, 2020 30-09-2020
The defaulting LLPs may themselves avail of the scheme
for filing documents which have not been filed or
registered in time on payment of fee as payable for filing
of such document /return.

This Scheme shall not apply to LLPs which has made an

application in Form 24 to the Registrar, for striking off
its name from the register as per provisions of Rule 37(1)

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 of the LLP Rules, 2009.
3. Companies Fresh Start Scheme, 2020 (CFSS-2020)

Any Eligible Company can file any form, statement or

return etc., which was required to be filed under the Act
but the Company has defaulted in filing the said form,
return etc. Such belated forms can be filed on payment of 01-04-2020 to
normal fees as prescribed under the Companies 30-09-2020
(Registration Offices and Fees) Rules, 2014.

No additional fee shall be payable. Thus, filing related

defaults can be made good irrespective of duration of
default.
4. DIN holders of DINs marked as ‘Deactivated’ due to
non-filing of DIR-3KYC/DIR-3 KYC-Web and those
Companies whose compliance status has been marked as
“ACTIVE non-compliant” due to non-filing of Active
Company Tagging Identities and Verification(ACTIVE)
eform are encouraged to become compliant once again in 01-04-2020 to
pursuance of the General Circular No. 11 dated 24th 30-09-2020
March, 2020 & General Circular No.12 dated 30th March
2020 and file DIR-3KYC/DIR-3KYC-Web/ACTIVE as
the case may be between 1st April, 2020 to 30th
September, 2020 without any filing fee of INR 5000/INR
10000 respectively.
5. MCA has notified the Companies (Appointment and Rules are
Qualification of Directors) Fifth Amendment Rules, effective from
2019, and the Companies (Accounts) Amendment Rules, December 01,
2019 with effective from December 01, 2019. 2019
If a person is already appointed as Independent Director
(ID) in a Company, on 01.12.2019 (the commencement &
of these rules) shall within period of five months from
such commencement i.e. 30th April, 2020 apply online to Registration
the institute for inclusion of his name in the data bank. on
Independent
After inclusion of the name in data bank shall pass an Directors’
online proficiency self-assessment test conducted by the Databank
institute within a period of one year from the date of commenced
inclusion of his name in the data bank, (i.e. 1 year from from 2nd
30th April, 2020 or any other date of inclusion of name in December,
data bank). Failing which, his name shall stand removed 2019 onwards.
from the databank of the institute.
Individuals who have served for a period of 10 years as
on date of inclusion of his name in databank as director
or Key Managerial Personnel (KMP) in listed public
company or unlisted public company having paid up
capital of Rs. 10 crore or more or Body Corporate listed
on the recognised Stock exchange shall not be required to
pass online proficiency self-assessment test.
The Databank, which was launched by the Ministry of
Corporate Affairs, can be accessed at www.mca.gov.in

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 or www.independentdirectorsdatabank.in.
6. The mandatory requirement of holding meetings of the
Board of the companies within the prescribed interval
provided in section 173 of the Companies Act, 2013
(i.e.120 days) stands extended by a period of 60 days till
next two quarters i.e. till 30th September.
Accordingly, as a one-time relaxation the gap between
two consecutive meetings of the Board may extend to
180 days till the next two quarters, instead of 120 days as
required in the Companies Act, 2013.
7. The Companies (Auditor’s Report) Order, 2020 shall be
made applicable from financial year 2020-21, instead of
being applicable from the financial year 2019-20 as
notified earlier. This will significantly ease the burden on
companies & their auditors for the financial year 2019-
20.
8. Newly incorporated companies are required to file a
declaration for Commencement of Business within 180
days of incorporation under section 10A of the
Companies Act, 2013.
An additional period of 180 more days is allowed for this
compliance.
9. Non-compliance of minimum residency in India for a
period of at least 182 days by at least one director of
every company, under Section 149 of the Companies
Act, 2013 shall not be treated as non-compliance for the
financial year 2019-20
10. Requirement under section 73(2)(c) of Companies Act 30-06-2020
2013, to create the deposit repayment reserve of 20% of
deposits maturing during the financial year 2020-21
before 30th April, 2020 shall be allowed to be complied
with till 30th June 2020.
11. Requirement under rule 18 of the Companies (Share 30-06-2020
Capital & Debentures) Rules, 2014 to invest or deposit at
least 15% of amount of debentures maturing in specified
methods of investments or deposits before 30th April
2020, may be complied with till 30th June 2020.
12. As per Para VII (1) of Schedule IV to the Companies
Act, 2013, the Independent Directors of the company are
required to hold at least one meeting in a financial year,
without the attendance of non-independent directors and
members of management. For the financial year 2019-20,
if the Independent Directors of a company have not been
able to hold such a meeting, the same shall not be viewed
as violation. The independent Directors, however, may
share their views amongst themselves through telephone
or e-mail or any other mode of communication, if they
deem it to be necessary.
Compliance Calendar for others

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 1. Issue of Diligence Report for Banks in case of ICSI 01-07-2020
Consortium Lending / Multiple Banking Arrangements
by Peer Reviewed Units.
2. The ICSI Auditing Standards is mandatorily applicable ICSI Auditing 01-10-2020
for Audit Engagements accepted by the Auditor on or Standards
after 1st October, 2020.
3. Debit card holders can now withdraw cash from any bank Banking Laws -
without any additional charges for next 3 months.
4. There will be a complete waiver of fees charged by the Banking Laws -
banks for not maintaining the minimum balance.
5. There will be reduction of bank charges for digital trade Banking Laws -
transactions for all trade finance consumers.

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