As the year comes to a close, all taxpayers must be aware of the critical dates for their income tax responsibilities. December 2023 brings several critical dates that should not be overlooked. Let's take a deeper look at the December 2023 income tax calendar.
7th of December, 2023
The deposit of tax deducted or collected for the month of November 2023 is due on this day. It should be noted that all sums deducted or collected by a government office should be paid to the credit of the Central Government on the same day, unless tax is paid without the provision of an Income-tax challan.
15th of December, 2023
For starters, this day is the deadline for submitting Form 24G to a government office. If the TDS/TCS for the month of November 2023 was paid without the production of a challan, this form should be filled. On this date, the third installment of advance tax for the assessment year 2024-25 is also due.
Furthermore, multiple TDS certificates for taxes deducted in October 2023 must be issued by the 15th of December 2023. TDS certificates for tax deducted under sections 194-IA, 194-IB, 194M, and 194S are included, depending on the precise provisions used.
A stock exchange is also required to provide a statement in Form no. 3BB on the same day regarding transactions in which client codes were amended after registration in the system for the month of November 2023.
30th of December, 2023
It is critical to note the deadline for submitting challan-cum-statements for taxes deducted under various sections. This section comprises sections 194-IB, 194M, 194-IA, and 194S. It is critical to submit these challan-cum-statements on time in order to assure compliance and avoid penalties.
December 31, 2023
Finally, people who have not yet filed their income tax return for the fiscal year 2023-24 have the opportunity to do so. This applies to all assessments as long as they are not completed by December 31, 2023. It is crucial to note that this applies to both late filings and revisions to previously filed returns.
There are several crucial deadlines in December 2023 that taxpayers must not miss. You may manage the tax season efficiently and prevent any unnecessary penalties or hassles by marking these dates in our calendars and being proactive with your obligations.
