Your May 2025 Compliance & Productivity Update – With Two Powerful New Tools in WebLedger

Message from CEO’s Desk

As a founder, I’m deeply grateful for the love and support our readers and users have shown for our products. I warmly welcome all new users and readers and truly appreciate your presence. To our long-time and consistent users, thank you for being with us on this journey.

We remain committed to delivering the most customized features tailored to your needs, and we assure you of our continued dedication to excellence.

This May 2025 edition brings you a comprehensive overview of compliance due dates for May and June 2025 in India. Additionally, we are excited to announce the launch of two new features — ‘Team Chat’ and ‘Drive’ — in our WebLedger Office product.

I extend my heartfelt thanks to our team for their hard work in building these solutions. A sincere thank you also goes out to our partners and sales team for helping us expand our reach across the country.

My warmest wishes to all our stakeholders for your continued trust and support.”

– CA Ajit Bhansali, Founder and CEO, WebLedger Solutions Private Limited

Newsletter Highlight

We are truly grateful for the overwhelming love and support you've shown for our products on social media. In just the first week, we gained 300 subscribers to the WebLedger newsletter on LinkedIn — and the numbers are still growing!

With a strong commitment to serving our clients in the best possible way, we at WebLedger have introduced two powerful new features.

In our product WebLedger Office, we’ve launched the “Team Chat” feature, which enables seamless internal communication with your team — allowing you to share messages, images, and documents with ease.

Secondly, we’ve introduced the “Drive” feature, which allows you to upload and securely store documents on our cloud-based platform, and share them directly with your clients. Both features are highly secure, reliable, and significantly improve collaboration and communication.

We sincerely thank our users for embracing these new additions so warmly. We also extend a warm welcome to new users joining our platform.

At WebLedger, we’re committed to delivering the best features for office, loan, and compliance management — tailored especially for professionals like CAs, CPAs, CSs, CMAs, Tax Consultants, and Law Practitioners. Further, we provide cloud-based accounting solutions for business owners and accountants.

WebLedger Insights: May 2025 Financial Updates You Need to Know!

Greetings from the WebLedger community!

1. Taxation & Compliance Deadlines (In May 2025)

• TDS/TCS Deposits: Was Due by May 7, 2025, for April transactions.
• Quarterly TCS Return (Form 27EQ): The Filing deadline for Q4 (Fourth Quarter) FY (Financial Year) 2024-25 was May 15, 2025.
• Quarterly TDS Returns (Form 24Q/26Q/27Q): Filing deadline for Q4 FY 2024-25 was May 31, 2025.
• Statement of Financial Transactions (Form 61A): Was Due by May 31, 2025.
• Statement of Reportable Accounts (Form 61B): FATCA/CRS compliance deadline was May 31, 2025.

 2) Accounting Standards Amendments

Indian Accounting Standards (Ind AS) Amendment Rules 2025:

1. Ind AS 21 – The Effects of Changes in Foreign Exchange Rates gives clear guidance on how to determine if one currency can be exchanged for another. It also explains what to do when a currency is not exchangeable. The standard provides a way to estimate the spot exchange rate when it is difficult to exchange currencies due to economic issues or government rules. Companies must now provide more detailed information about any restrictions, the methods they used for estimating rates, and the possible financial effects. These changes aim to improve transparency and consistency in financial reporting.
2. Ind AS 101 – First-time Adoption of Indian Accounting Standards now includes updates for situations with severe hyperinflation or currencies that cannot be exchanged. These updates make it easier for companies to switch to these standards without comparative FS restatement. Instead, they can make adjustments directly to their retained earnings or foreign currency translation reserves.
3. GSTR-1 - Table 12 which displays HSN-wise summary of outward supplies, is now divided into two parts: 

1. B2B (Business-to-Business) Supplies

2. B2C (Business-to-Consumer) Supplies

This change helps to provide clearer and more detailed HSN (Harmonized System of Nomenclature) information for each type of transaction. When using the GST portal, you must now enter HSN details separately for B2B and B2C invoices

4. ITR Filing due date has been extended from July 31, 2025 to September 15, 2025, for Individuals, HUF (Hindu Undivided Family), AOP (Association of Persons), and BOI (Body of Individuals).

Upcoming due-dates for June 2025

GST Returns Due-Dates in June 2025

New update: 

1. Starting June 1, 2025, IRP (Invoice Registration Portal) will treat invoice numbers as case-insensitive when generating unique IRNs (Invoice Reference Number). This means all invoice numbers will be changed to uppercase to prevent duplication and maintain consistency.

We hope you enjoyed reading our new May edition of newsletter. If you have any further queries regarding our products, please feel free to contact us. Your feedback and inquiries are always welcome. Thank you for trusting us with our products.

Legal Name: Webledger Solutions Private Limited

Corporate Office at Surat (GJ), India: 802, 8th Floor, 21st Century Business Centre, Ring Road, Surat -395002.

Mobile: +91-7572886642

Email Address: contact@webledger.in

Website: https://webledger.in/

Disclaimer:

This newsletter is designed for your personal use. It offers valuable insights on topics of interest. We strongly recommend that you consult a professional before taking any action based on the information provided. WebLedger shall not be held liable for any decisions made based on this content.