Businesses and taxpayers must adhere to several tax and compliance deadlines in February 2025 to avoid penalties and ensure smooth financial operations. The income tax department has published a tax calendar outlining the key due dates for this month.
These obligations include tax deduction at source (TDS) and tax collection at source (TCS) deposits, provident fund (PF) and employee state insurance (ESI) contributions, and the issuance of tax deduction certificates under various sections of the Income Tax Act.
Here is a list of tax deadlines for February 25:
Key Deadlines:
February 7: Last date to deposit TDS and TCS liabilities for January 2025.
February 14: Deadline for issuing TDS certificates (Form 16B, 16C, and 16D) for tax deducted under Sections 194-IA, 194-IB, and 194M in December 2024.
February 15:
– Due date for depositing PF and ESI contributions for January 2025.
– This is also the deadline for issuing quarterly TDS certificates (Form 16A) for non-salary payments made between October and December 2024.
Meeting these deadlines is crucial for individuals to stay compliant with tax regulations and avoid interest or penalties. Employers and taxpayers should verify their financial records and ensure timely submission of taxes and statutory contributions. Proactive compliance with these tax obligations can prevent legal complications and ensure a hassle-free tax filing process.