Newsletter
July, 2021

Hello Friends, we’re already 6 months into 2021 and while everyone was just waiting for 2020 to end, it seems that 2021 has also brought about the same feelings with the kind of rise in cases that we saw in the last 2-3 months. Thankfully, this wave seems to be subsiding and with the vaccination drive in full swing I expect a far milder third wave (hopefully no wave at all!!).

Please be safe and get vaccinated. This awareness needs to spread amongst our staff, co-workers and all the people around us – including our milkman, newspaper vendor, etc. etc.. On the Income Tax side there was a major change that came into force from 1st July 2021 – with the onus of deducting double TDS in case IT returns have not been filed by the vendor and also with respect to TDS on Purchases on Goods replacing TCS on Sales of Goods for certain class of people. I do not know the entire wisdom behind both of these, as this just adds a lot more compliance without really creating any material inflow of funds to the Exchequer. I suppose it is with the intention of ensuring that everyone is compliant and therefore we as customers will only be doing business with people who are compliant. I suppose an even better provision could have been that you can only transact on your PAN if you filed your returns for the last 2 years!

RealBooks adhered to both these compliances in a timely manner and does not require customers to calculate TDS or TCS manually. Additionally, some new releases came about in the form of TDS enhancements for recording all details for TDS with respect to BSR Code, Challan No. etc so that generating TDS returns is truly a single click activity. There are some features with respect to TDS deduction automation that have also gone live which you may ask our support team for assistance.

As always, I would like to thank the existing customers who keep referring us to new customers to join the RealBooks platform. Notable additions this month have been Poddar Car World – Maruti’s largest dealer in Assam, and Chennai based NTC Group. We are working on some largescale changes, which would be going live in the next 3-4 months. Keep watching this space for more details!

Tip of the month :

Upload declarations from your suppliers w.r.t specified persons u/s 206 AB on RealBooks
What's New :

Set up TDS u/s 194Q and automate the calculation
www.realbooks.in | hello@realbooks.in | +91-99108-22099
  • 7TDS Payment for June
  • 11GSTR 1 for June
  • 13GSTR-1 (April-June 2021) for QRMP
  • 15TCS return filing for April-June Quarter
  • 15ESI Contribution payment for June
  • 15 Issuance of Form 16 to Employee
  • 15Providend Fund (PF) Payment for June
  • 15TCS Payment for April-June Quarter
  • 18CMP 08 for April to June (Composition)
  • 20GSTR 3B for June (all except quarterly filers)
  • 30 Quarterly TCS certificate for the quarter ending June 30
  • 31TDS Filing for April to June
  • 31DPT 3 Form for companies
  • 31Form 11 for LLP
  • 31INC 22A Filing for Companies


“I am Rajeesh Rajan, founder and director of Finova Solutions S.P.C, Kingdom of Bahrain. We are one of the leading business consultants in the Kingdom.

We have been using the Realbooks for over a year, it's very simple and very user‐friendly has features has made our work much easier than the time we were using the traditional ERP.

As it is cloud‐based software, we can use it from anywhere especially during this work from home circumstances. We never faced a server downtime during this period. Features like document management save time and effort taken for physical document maintenance.

We can generate some excellent report that provides the branch wise and company performance. The scheduled report gives the management on time information effortlessly. We are very happy the customer service from the customer support team.

Overall we are very happy we migrated to Realbooks "

Rajeesh Rajan

(Director - Finova Solutions S.P.)C




Details of filing of GSTR 3B and Payment of Tax (pursuant to relief provided by the Government as per notifications dt. May 1, 2021 and as modified by notifications dt. June 1, 2021) for the months of March, April and May are as follows:
Late Fees for delay in filing of GSTR 3B (Summary of outward and inward supplies and tax liability):
To whom applicable Period Due date
1. Taxpayers having an aggregate turnover of more than Rs. 5 crores in the preceding FY March, April and May 2021 March - 20th April 2021, April - 20th May 2021 and May - 20th June 2021

No Late Fees for 15 days from the due date of furnishing return (Notification No. 19/2021-Central Tax dated 01.06.2021)
2. Taxpayers having an aggregate turnover of up to Rs. 5 crores in the preceding FY (Monthly filers) March, April and May 2021 March – Due date - 20th April 2021; No Late Fees for delay of 60 days
April – Due date - 20th May 2021 ; No Late Fees for delay of 45 days
May – Due date - 20th June 2021; No Late Fees for delay of 30 days

(Notification No. 19/2021-Central Tax dated 01.06.2021)
3. Assessees having turnover upto 5 Cr opted for Quarterly filing Jan – Mar 2021 22nd April 2021 (Note 1 States/ UTs)
24th April 2021 (Note 2 States/ UTs)
No Late Fees for 60 days from the due date of furnishing return

(Notification No. 19/2021-Central Tax dated 01.06.2021)
Rate of Interest for delay in payment of tax during filing of GSTR 3B:
To whom applicable Period Due date
1. Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year March, April and May 2021 Interest payable - 9% for the first 15 days from the due date and 18% thereafter.

(Notification No. 18/2021-Central Tax dated 01.06.2021)
2. Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial Year (monthly filers and QRMP) March, April and May 2021 March – Due date - 20th April 2021 - Interest payable - Nil for the first 15 days from the due date, 9 per cent for the next 45 days, and 18 per cent thereafter.
April – Due date - 20th May 2021 - Interest payable – Nil for the first 15 days from the due date, 9 per cent for the next 30 days, and 18 per cent thereafter.
May – Due date - 20th June - Interest payable – Nil for the first 15 days from the due date, 9 per cent for the next 15 days, and 18 per cent thereafter.

(Notification No. 18/2021-Central Tax dated 01.06.2021)
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