Happy Diwali

BySunshine Accountancy ® 16 November 202416 April 2026

Published on: 16 November 2024 at 1:50 PM IST

On the occasion of Diwali, the entire team at Sunshine Accountancy and Co. extends its warmest wishes to our clients, partners, and associates across Hyderabad and the rest of India. May the festival of lights bring prosperity, good health, and steady progress to your businesses and families. Serving Indian entrepreneurs and enterprises since 1994, our firm is deeply grateful for the trust you have placed in us year after year.

Diwali and the Indian Financial Calendar

Diwali traditionally marks the beginning of a new accounting year for many Indian businesses, especially in trade and retail. It is also a cultural moment of fresh starts, when ledgers are opened, commitments are renewed, and promoters take stock of the year gone by. This makes it an ideal time to review your books, set compliance priorities for the balance of the financial year, and make sure your GST, income tax, and TDS affairs are in good order.

A Gentle Reminder on Festive Season Compliance

The Diwali season often overlaps with multiple statutory due dates. For businesses under GST, this includes monthly GSTR 1 and GSTR 3B filings along with GSTR 2B reconciliation. For employers, TDS deposits and returns continue as usual. Year end planning items such as advance tax, investment declarations, and Form 15G or 15H submissions also fall around this period. We encourage clients to treat the festive season as a planning window rather than a compliance gap.

Advance Tax and Year End Considerations

Second and third instalments of advance tax for the financial year fall in the period around Diwali. This is the right time to estimate your projected income, factor in any one time gains or losses, and review investment and deduction opportunities under Chapter VI A. A small amount of planning now often translates into a meaningful tax saving at year end.

GST Housekeeping Before Year End

Diwali is also a good moment to reconcile your books with GSTR 2B for the year so far, follow up with vendors who have not uploaded invoices, and close out any credit notes or amendments. The earlier these items are cleaned up, the smoother your annual return and GSTR 9C will be.

Our Diwali Wish to You

As you light up your offices and homes, we hope this Diwali brings clarity in every decision, prosperity in every venture, and peace of mind in every compliance obligation. From all of us at Sunshine Accountancy and Co., a sincere Happy Diwali.

Need Support This Festive Season

If you would like help with GST reconciliation, income tax planning, or any other financial services matter this Diwali season, our team is happy to assist. You can reach us at +91 9676313137 or write to hello@sunshineaccountancy.com.

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