Tax alert: April 30 is the last date for TDS, Form 15H, and Vivad Se Vishwas filings, and more
The Central Board of Direct Taxes (CBDT) has established these dates as pivotal for compliance under various tax provisions.
- Apr 30, 2025,
- Updated Apr 30, 2025 2:15 PM IST
Indian taxpayers face five essential tax deadlines on April 30, impacting declarations, TDS deposits, and forms 15G and 15H. These crucial dates could influence financial compliance and planning. The Central Board of Direct Taxes (CBDT) has established these dates as pivotal for compliance under various tax provisions. Failure to meet these deadlines could have significant ramifications, as they encompass essential declarations and tax deposits.
Central to these deadlines is the Vivad Se Vishwas Scheme. Taxpayers have until April 30 to address any unresolved income-tax disputes through the Vivad Se Vishwas (VSV) 2.0 program.
The Ministry of Finance issued a notification on April 8, 2025, and stated: “In exercise of the powers conferred by clause (l) of sub-section (1) of section 89 of the Finance (No. 2) Act, 2024... the 30th day of April, 2025 as the last date.”
The implementation of VSV 2.0 took place on October 1, 2024. This version applies to unresolved disputes before appellate bodies such as CIT(A), ITAT, High Courts, and the Supreme Court that were pending as of July 22, 2024.
This initiative is designed to streamline the resolution process for disputes and expedite revenue collection. This scheme, introduced to alleviate tax disputes, mandates timely submission to benefit from the resolution process.
The previous version, VSV 1.0, successfully resolved over 146,000 tax appeals and recovered approximately Rs 1 lakh crore in revenue. The government anticipates that VSV 2.0 will deliver comparable outcomes and help reduce tax-related litigation.
Taxpayers who have unresolved disputes as of July 22, 2024, such as appeals, writ petitions, or cases before the Dispute Resolution Panel without a final assessment order, are eligible for the scheme. To avail of the scheme, taxpayers must complete Form-1 on the Income-Tax Department's website, providing details of the disputed tax amount and supporting documents like assessment orders and relevant notices.
TDS deposit
Another critical deadline involves the deposit of tax deducted at source (TDS) for the quarter spanning January to March 2025. Sections 192, 194A, 194D, and 194H outline provisions for quarterly TDS deposits, with assessing officers granting necessary permissions. Compliance with these requirements ensures adherence to regulatory norms and avoids potential penalties.
Form 15G and Form 15H
Additionally, taxpayers must pay attention to Forms 15G and 15H, with April 30 marked as the final day for uploading declarations received during the quarter ending March 2025. These forms, utilised by individuals to request non-deduction of TDS on interest income, cater to those with an annual income below the basic exemption limit. Taxpayers younger than 60 years file Form 15G, while those 60 and older use Form 15H. Tight adherence to this deadline is crucial for taxpayers seeking to optimise their tax liabilities without incurring unnecessary deductions.
Challan-cum-statements for tax deducted under section 194S
The deadline of April 30 also applies to the furnishing of challan-cum-statements for tax deducted under section 194S by specified persons for March 2025. This provision targets particular transactions, necessitating precise and timely submission to avoid compliance issues. Moreover, tax deducted under various other sections, including 194-IA, 194-IB, 194M, and again under 194S, requires deposit and documentation by this same date. These provisions collectively underscore the importance of diligent financial planning and adherence to statutory requirements.
For many taxpayers, understanding these deadlines and their implications is essential to maintaining good standing with tax authorities. The comprehensive framework set by the CBDT aims to streamline tax processes, ensuring clarity and compliance across multiple sectors. Taxpayers are encouraged to consult financial advisors to navigate these deadlines effectively, thereby minimising the risk of penalties and facilitating smoother tax management. With April 30 fast approaching, the emphasis on preparedness and timely action cannot be overstated.
Indian taxpayers face five essential tax deadlines on April 30, impacting declarations, TDS deposits, and forms 15G and 15H. These crucial dates could influence financial compliance and planning. The Central Board of Direct Taxes (CBDT) has established these dates as pivotal for compliance under various tax provisions. Failure to meet these deadlines could have significant ramifications, as they encompass essential declarations and tax deposits.
Central to these deadlines is the Vivad Se Vishwas Scheme. Taxpayers have until April 30 to address any unresolved income-tax disputes through the Vivad Se Vishwas (VSV) 2.0 program.
The Ministry of Finance issued a notification on April 8, 2025, and stated: “In exercise of the powers conferred by clause (l) of sub-section (1) of section 89 of the Finance (No. 2) Act, 2024... the 30th day of April, 2025 as the last date.”
The implementation of VSV 2.0 took place on October 1, 2024. This version applies to unresolved disputes before appellate bodies such as CIT(A), ITAT, High Courts, and the Supreme Court that were pending as of July 22, 2024.
This initiative is designed to streamline the resolution process for disputes and expedite revenue collection. This scheme, introduced to alleviate tax disputes, mandates timely submission to benefit from the resolution process.
The previous version, VSV 1.0, successfully resolved over 146,000 tax appeals and recovered approximately Rs 1 lakh crore in revenue. The government anticipates that VSV 2.0 will deliver comparable outcomes and help reduce tax-related litigation.
Taxpayers who have unresolved disputes as of July 22, 2024, such as appeals, writ petitions, or cases before the Dispute Resolution Panel without a final assessment order, are eligible for the scheme. To avail of the scheme, taxpayers must complete Form-1 on the Income-Tax Department's website, providing details of the disputed tax amount and supporting documents like assessment orders and relevant notices.
TDS deposit
Another critical deadline involves the deposit of tax deducted at source (TDS) for the quarter spanning January to March 2025. Sections 192, 194A, 194D, and 194H outline provisions for quarterly TDS deposits, with assessing officers granting necessary permissions. Compliance with these requirements ensures adherence to regulatory norms and avoids potential penalties.
Form 15G and Form 15H
Additionally, taxpayers must pay attention to Forms 15G and 15H, with April 30 marked as the final day for uploading declarations received during the quarter ending March 2025. These forms, utilised by individuals to request non-deduction of TDS on interest income, cater to those with an annual income below the basic exemption limit. Taxpayers younger than 60 years file Form 15G, while those 60 and older use Form 15H. Tight adherence to this deadline is crucial for taxpayers seeking to optimise their tax liabilities without incurring unnecessary deductions.
Challan-cum-statements for tax deducted under section 194S
The deadline of April 30 also applies to the furnishing of challan-cum-statements for tax deducted under section 194S by specified persons for March 2025. This provision targets particular transactions, necessitating precise and timely submission to avoid compliance issues. Moreover, tax deducted under various other sections, including 194-IA, 194-IB, 194M, and again under 194S, requires deposit and documentation by this same date. These provisions collectively underscore the importance of diligent financial planning and adherence to statutory requirements.
For many taxpayers, understanding these deadlines and their implications is essential to maintaining good standing with tax authorities. The comprehensive framework set by the CBDT aims to streamline tax processes, ensuring clarity and compliance across multiple sectors. Taxpayers are encouraged to consult financial advisors to navigate these deadlines effectively, thereby minimising the risk of penalties and facilitating smoother tax management. With April 30 fast approaching, the emphasis on preparedness and timely action cannot be overstated.