The first important date in this month was October 7, 2023. (Representative image)
The IT department has a number of compliance requirements for taxpayers.
Knowing the tax calendar of the Income Tax Department is important for taxpayers to stay abreast of the latest tax changes and updates. The IT department issues a number of notices and circulars during the year, which may contain important changes in tax law. Knowing the tax calendar can help taxpayers stay on top of the latest tax changes and ensure they comply with the law.
The IT department has a number of compliance requirements for taxpayers. By knowing the tax calendar, taxpayers can ensure they meet all compliance requirements on time and avoid penalties or fines.
This is what you need to know in the month of October;
The first important date in this month was October 7, 2023.
October 7, 2023.
- Due date for deposit of tax deducted/collected for the month of September 2023. However, all amounts deducted/collected by any government office shall be deposited in favor of the Central Government on the same day if the tax is paid without production. of an Income Tax Challan
- Due date for deposit of TDS for the period July 2023 to September 2023 when the Assessing Officer has allowed quarterly deposit of TDS under section 192, 194A, 194D or 194H
Other dates approaching in October 2023 are listed below;
October 15, 2023
- Due date for filing Form 24G from an office of the Government where TDS/TCS for the month of September 2023 has been paid without submitting a challan
- Due date for issuance of TDS certificate for tax deducted under section 194-IB in the month of August 2023
- Expiry date for issuance of TDS certificate for tax deducted under section 194-IA in the month of August 2023
- Due date for issuance of TDS certificate for tax deducted under section 194M in the month of August 2023
- Expiry date for issuance of TDS certificate for tax deducted under section 194S in the month of August 2023. Applicable in case of a specified person mentioned under section 194S
- Quarterly Statement of TCS filed for the quarter ended September 30, 2023
- Upload statements received from recipients in form No. 15G/15H during the quarter ending September 2023
- Expiry date for the declaration of provision in form no. 3BB by an exchange with regard to transactions where customer codes have been changed after registration in the system for the month of September 2023
- Quarterly TCS certificate in respect of tax collected by an individual for the quarter ending June 30, 2023. Due to the extension of the expiry date of the TCS declaration, the revised due date for issuing the TCS certificate will be October 15, 2023 .
- Quarterly TDS certificate (in respect of tax deducted on payments other than salary) for the quarter ending June 30, 2023. Due to the extension of the expiry date of the TDS statement, the revised due date for issuing the TDS certificate will be 15 October 2023
October 30, 2023
- Due date for filing challan-cum-declaration in respect of tax deducted under section 194-IA in the month of September 2023
- Due date for filing challan-cum-declaration in respect of tax deducted under section 194-IB in the month of September 2023
- Due date for filing challan-cum-declaration in respect of tax deducted under section 194M in the month of September 2023
- Due date for filing challan-cum-declaration in respect of tax deducted under section 194S in the month of September 2023. It is applicable in the case of a specified person mentioned under section 194S.
- Quarterly TCS certificate (in respect of tax collected by an individual) for the quarter ending September 30, 2023
October 31, 2023
- Designation by a designated constituent entity, resident in India, of an international group in form no. 3CEAB for the financial year 2022-23
- Quarterly statement of TDS filed for the quarter ending September 2023
- Due date for submission of audited accounts for each approved program under section 35(2AA)
- Quarterly declaration of non-deduction of withholding tax by a banking company on interest on time deposits for the quarter ending September 2023
- Copies of the declaration received in Form No. 60 between April 1, 2023 and September 30, 2023 to the Director/Joint Director concerned
- Due date for filing return of income for assessment year 2023-24 if the taxpayer (who has no international or specified domestic transaction) is (a) corporate assessee or (b) non-corporate assessee (whose books of accounts are to be audited) or (c) partner of a company whose accounts are subject to audit or the spouse of such partner if the provisions of section 5A apply
(The due date for filing return of income in Form ITR-7 in case of taxpayers referred to in clause (a) of Explanation 2 to Section 139(1) has been extended from October 31, 2023 to November 30, 2023)
- Audit report under section 44AB for the assessment year 2023-24 in case of an assessee who is also required to file a report in respect of international or specified domestic transactions under section 92E
- Report to be provided in Form 3CEB in respect of international transactions and specified domestic transactions.
- Due date for electronic filing of a report (in Form No. 3CEJ) by a qualifying investment fund in respect of the arm’s length price of the remuneration paid to the fund manager (if the assessor is required to file the return of income by October 31 , 2023).
- Declaration from a scientific research association, university, college or other association or an Indian scientific research company, as required by Rules 5D, 5E and 5F (if the due date for income tax filing is October 31, 2023).
- Submit a copy of the audit of accounts to the Secretary, Department of Scientific and Industrial Research if the company qualifies for weighted deduction under section 35(2AB) [if company does not have any international/specified domestic transaction]
- Information in Form 10BBB by a pension fund in respect of any investment made in India for the quarter ending September 2023.
- Information in Form II by the Sovereign Wealth Fund in respect of investments made in India for the quarter ending September 2023.
- Submission of audit report in form no. 10B/10BB by a fund, trust or institution, or a university or other educational institution, or a hospital or other medical institution.
The due date for submitting the audit report in form no. 10B/10BB has been extended from September 30, 2023 to October 31, 2023.