May 2025 tax deadlines: What every taxpayers need to remember this month

As May 2025 approaches, businesses, government offices, and financial institutions in India must prepare for a series of critical tax compliance deadlines. These deadlines encompass a range of requirements, from tax deduction and collection to certificate issuance and financial statement submissions, aimed at ensuring adherence to tax laws and avoiding penalties. The month kicks off with the deadline for depositing tax deducted or collected at source during April, set for 7 May 2025. 

This applies to both Tax Deducted at Source (TDS) and Tax Collected at Source (TCS), with a specific note for government offices that make payments without a challan, requiring deposits on the deduction day itself. Additionally, declarations received in Form 27C from buyers in April must also be uploaded by this date.

By 15 May 2025, organisations must issue TDS certificates for deductions made in March 2025. This requirement is particularly pertinent for transactions under Sections 194-IA, 194M, and 194S, which cover transfers of immovable property, payments to contractors or professionals, and digital asset transactions, respectively. During this period, the submission of Form 24G by government offices that handled TDS/TCS without a challan in April is also due. Furthermore, entities must file their quarterly TCS statement for the quarter ending 31 March 2025, ensuring comprehensive compliance reporting. 

The closing days of May 2025 bring additional deadlines. By 30 May, several key requirements must be fulfilled. These include the filing of challan-cum-statements for taxes deducted under specific sections, namely 194-IA, 194-IB, 194M, and 194S. Equally critical is the issuance of TCS certificates for the final quarter of the financial year 2024–25, ensuring that buyers receive their respective documents for taxes collected at source. Furthermore, organisations need to submit Section 285B statements, detailing any specified financial events occurring in the previous fiscal year. 

The very last day of May 31,2025, mandates the submission of quarterly TDS statements for the fourth quarter of FY 2024–25, covering deductions from January to March 2025. This day also serves as the deadline for the return of superannuation fund deductions, requiring trustees to file returns on contributions made. 

Additionally, forms 61A and 61B, which cover statements of financial transactions and annual statements of reportable accounts, respectively, must be filed. These submissions are crucial for maintaining transparent and accurate financial reporting, aligning with the Income Tax Department's regulations.

GST return filing deadlines for May 2025

Businesses must stay on top of GST deadlines to avoid penalties, interest, and delayed credit claims. Here are the key GST return filing dates for May 2025:

May 10: GSTR-7 (TDS deductors), GSTR-8 (E-commerce operators)

May 11: GSTR-1 (monthly filers, turnover > ₹5 crore)

May 13: GSTR-1A (April amendments), IFF (QRMP filers, turnover ≤ ₹5 crore), GSTR-5 (non-resident taxpayers), GSTR-6 (Input Service Distributors)

May 20: GSTR-3B (monthly summary return), GSTR-5A (OIDAR & offshore gaming services)

May 25: PMT-06 (GST payment for QRMP scheme)

With these deadlines in mind, compliance remains critical for entities across sectors. As the tax calendar for May 2025 illustrates, timely adherence to submission dates plays a vital role in maintaining regulatory integrity. By ensuring all required documents and payments are completed by the stipulated deadlines, organisations can avoid penalties and contribute to a streamlined tax administration process.