Income Tax Calendar: This article is going to be very important for taxpayers. For your information, let us tell you that the Income Tax Department has released its tax calendar. Information about the due dates of this month is given in this calendar. Most taxpayers are not aware of this. Let us know…
New Delhi: Income tax planning helps in increasing savings by reducing tax liability. Meanwhile, in the last month of the current year, proper planning and many tax related work will have to be done to avoid possible consequences.
The Income Tax Department has released a tax calendar on its website, which lists the due dates of this month, which people should be aware of.
7 December- This date is the date for deposit of tax deducted or collected in the month of November 2023. However, all payments of tax deducted or taken by any office of the Government shall be credited to the account of the Central Government on the same day on which the tax is paid without producing the income tax challan.
15 December- This is the due date of submission of Form 24G by the government office where TDS/TCS has been paid for the month of November 2023 without submitting the challan.
This date is also the deadline for payment of the third installment of advance tax for the assessment year 2024-25.
It is also the due date for issuance of TDS certificate for tax deducted under section 194-IA, 194-IB, 194S and 194M in the month of October 2023.
This is also the due date of furnishing the statement in Form No. 3BB, where the client code has been modified after registration in the system by a stock exchange in respect of transactions for the month of November 2023.
30 December- This is the due date for furnishing challan-cum-statement in respect of tax deducted under sections 194-IB, 194M, 194S and 194-IA in the month of November 2023.
31 December- This is the deadline for all assessees to file belated/revised Income Tax Returns (ITR) for assessment year 2023-24 (provided the assessment is not completed before December 31, 2023).
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