Proper tax planning is a crucial aspect of managing your finances effectively. To navigate this, being aware of the essential tax payment dates is paramount. A tax calendar is a helpful tool that assists individuals in staying organized and compliant with their tax obligations. Here are the key tax due dates for September 2023:
September 7: TDS/TCS Deposit On September 7, 2023, you're required to deposit the tax deducted or collected for August 2023. It's important to note that any sums deducted or collected by a government office must be credited to the central government on the same day as the tax payment, even without an income tax challan.
September 14: TDS Certificate By September 14, you should issue a TDS certificate for tax deductions made under Sections 194-IA, 194-IB, 194M, and 194S in July 2023.
September 15: Form 24G, Advance Tax, Form 3BB This is the deadline for submitting Form 24G by a government office, particularly for those who made TDS/TCS payments for August 2023 without an accompanying challan. It's also the final date for paying the second instalment of advance tax for the assessment year 2024-25. Additionally, a statement in Form No. 3BB needs to be filed by a stock exchange for transactions involving modified client codes after system registration in August 2023.
September 30: TDS Challan, Audit Report, ITR, Form 9A The last day to provide the challan-cum-statement for tax deducted in August 2023 under Sections 194-IA, 194-IB, 194M, and 194S. Also, by September 30, an audit report under Section 44AB must be submitted for AY 2023-24 for corporate and non-corporate assesses, who are required to file an income tax return by October 31, 2023.
For those required to file a return of income by November 30, 2023, September 30 marks the deadline to submit an application in Form 9A for exercising the option available under Explanation to Section 11(1) to apply the income of the previous year in the next year or in future. A statement in Form No. 10 also needs to be furnished to accumulate income for future application under section 10(21) or section 11(1) by the same date.
Lastly, taxpayers need to submit the quarterly statement of TCS and TDS deposited for the quarter ending June 30, 2023, by September 30.
Staying attentive to these dates ensures you remain compliant and well-prepared on your tax journey.
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