Monthly (December 2022) Legal Obligations + Legal Updates for India
The taxpayer has to keep in mind certain points for every month of the calendar so that he could not forget to fulfill his obligation regarding Compliance. Experts at Legal Window have tried to simply present Latest Legal Obligations & Updates in India for the month of December for our readers so that all the important Latest Legal Obligations & Updates in India shall not be missed out.
In this write- up we will be looking into Latest Legal Obligations & updates in India for December 2022 in brief.
| Table of Content |
Short Glimpse
Citizens of India should keep in mind certain legal obligations that fall under certain legal statutes like Income Tax Act, 1961 and Companies Act, 2013, SEBI, and many more. Government day and out releases certain Obligations which is important for the individual, companies, etc so that any kind of penal action against them could be avoided. Let’s find out what are the Latest Legal Obligations & Updates in India for the month of December that one should keep in mind.
Latest Legal Obligations & Updates in India: Income Tax Act, 1961
The following are the Latest Legal Obligations & Updates in India for the month of December regarding the Income Tax Act:
| Sr. No | Event | Form/Challan | Ending Period | Frequency | Legal Obligation |
| 1 | 7th December | Challan 281 | Nov. 2022 | Monthly | Non-government deductor deposits TDS or TCS |
| 2 | 7th December | Challan 285 | Nov. 2022 | Monthly | Equalization Levy Deposit (EQL) |
| 3 | 14 December | Form 16 B | Oct. 2022 | Monthly | TDS Certificate issued under Section 194-IA |
| 4 | 14 December | Form 16 C | Oct. 2022 | Monthly | TDS Certificate issued under Section 194-IB |
| 5 | 14 December | Form 16 D | Oct. 2022 | Monthly | TDS Certificate issued under Section 194-IM |
| 6 | 14 December | Form 16 E | Oct. 2022 | Monthly | TDS Certificate issued under Section 194-S |
| 7 | 15 December | Challan 281 | N/A | Quarterly | Payment for the third payment of advance income tax |
| 8 | 15 December | Form 3 BB | Nov. 2022 | Monthly | Filing of a return by the stock exchange for a transaction in which the client’s code has been updated |
| 9 | 15 December | Form 24 G | Nov. 2022 | Monthly | Filing of a return by a government deductor in cases where TDS or TCS is paid without the issuance of a tax challan |
| 10 | 30 December | Form 26 QB | Nov. 2022 | Monthly | Filing of challan-cum-return for TDS in accordance with Section 194-IA |
| 11 | 30 December | Form 26 QC | Nov. 2022 | Monthly | Filing of challan-cum-return for TDS in accordance with Section 194-IB |
| 12 | 30 December | Form 26 QD | Nov. 2022 | Monthly | TDS challan-cum-return filing under Section 194-M |
| 13 | 30 December | Form 26 QE | Nov. 2022 | Monthly | TDS challan-cum-return filing under Section 194-S |
| 14 | 31 December | Form 1-7 | March 2022 | Annually | Filing of overdue + revised (both) returns by taxpayers whose assessment has not been completed as of the due date of 31st December. |
Latest Legal Obligations & Updates in India: CGST Act, 2017
The following are the Latest Legal Obligations & updates in India for December 2022 regarding the CGST Act, 2017:
| Sr. No | Event | Form/Challan | Ending Period | Frequency | Legal Obligation |
| 1 | 10 December | GSTR- 7 | October 2022 | Monthly | Return Filing by Tax Deductor |
| 2 | 10 December | GSTR- 8 | October 2022 | Monthly | Return submission by an E-Commerce operator |
| 3 | 11 December | GSTR- 1 | October 2022 | Monthly | Filing of returns in cases when the annual turnover exceeds INR 5 crore |
| 4 | 13 December | IFF | October 2022 | Monthly | (a) Invoice uploading under the QRMP program is not needed for the months of June, September, December, and March.
(b) Invoice uploading under the QRMP system is needed for the months of April, May, July, August, October, November, January, and February. |
| 5 | 13 December | GSTR- 6 | October 2022 | Monthly | Return submission by Input Service Distributor (ISD) |
| 6 | 20 December | GSTR- 5 | October 2022 | Monthly | Non-resident dealer filing of return |
| 7 | 20 December | GSTR- 5A | October 2022 | Monthly | OIDAR service provider filing of return |
| 8 | 20 December | GSTR- 3B | October 2022 | Monthly | Where the annual turnover exceeds INR 5 crore, a GST deposit is required. |
| 9 | 22 December | GSTR- 3B | October 2022 | Monthly | GST deposit if annual turnover does not reach 5 crores for Category I states |
| 10 | 24 December | GSTR- 3B | October 2022 | Monthly | For Category II states, a GST deposit of not more than INR 5 crore is required. |
| 11 | 25 December | GSTR- 3B | October 2022 | Monthly | GST deposit if yearly revenue does not exceed INR 5 crore + QRMP Scheme |
| 12 | 25 December | GSTR- PMT- 06 | October 2022 | Monthly | Tax Deposit for QRMP Scheme |
| 13 | 28 December | GSTR- 11 | October 2022 | Monthly | Filing of a return by a Unique Identification Number (UIN) holder, such as embassies +, etc., in order to receive a refund against ITC. |
| 14 | 31 December | GSTR- 9 | March 2022 | Annually | Filing of Returns if the turnover exceeds INR 2 crore |
| 15 | 31 December | GSTR- 9C | March 2022 | Annually | When the turnover exceeds INR 5 crore, a reconciliation statement must be filed. |
Latest Legal Obligations & Updates in India: Miscellaneous (FEMA + Company + ESI + PF + LLP) Acts
The following are the Latest Legal Obligations & updates in India for December 2022 regarding Miscellaneous (FEMA + Company + ESI + PF + LLP) Acts:
| Sr. No | Event | Form/Challan | Ending Period | Frequency | Legal Obligation | Act |
| 1 | 7 December 2022 | Form ECB- 2 | October 2022 | Monthly | Borrower’s submission of an ECB return | FEMA, 1999 |
| 2 | 15 December 2022 | ESI Challan | October 2022 | Monthly | Employer’s ESI deposit | ESI, 1948 |
| 3 | 15 December 2022 | Form ECR | October 2022 | Monthly | Filing of PF challan-cum-return | Provident Fund, 1952 |
| 4 | 31 December 2022 | Board of Director Meetings | December 2022 | Quarterly | 100% of the companies are holding their third Board of Directors meeting. | Companies Act, 2013 |
Way Forward
All individuals and taxpayers should keep in mind the above-mentioned compliance calendar so that any form of penal action could be avoided against them. Our Experts at Legal Window have tried to present these complex compliances in a simpler form. However, if you still face any difficulty or want to know the meaning and uses of these forms, you can connect to our Experts at Legal Window. Our Experts would be Happy to Help.
More on Latest News
Major Upgrade: Breaking Down GST 2.0
The 56th meeting of GST Council chaired by Union Finance Minister Mrs. Nirmala Sitaraman has now approved the next-generation GST reforms, focusing on improving…
New Income Tax Bill 2025
The Income Tax Bill, 2025, was introduced in the Lok Sabha on 13 February 2025. It tries to replace the Income Tax Act, 1961.…
Action to be taken before Closure of Books of Accounts as on 31st March, 2024
Closure of books of accounts seems like essential moment for enterprises, importance of the financial performances for a particular period. As we are closed…
Need help with this?
Talk to a Legal Window expert. Free consultation, no obligation.