December 2023 Income Tax Deadlines calendar

As the year concludes, it is crucial for all taxpayers to stay informed about the significant deadlines for their income tax responsibilities in December 2023. Let’s delve into the income tax calendar for this month.

December 7, 2023:

This marks the deadline for depositing tax deducted or collected for November 2023. Sums deducted or collected by a government office should be credited to the Central Government on the same day if paid without the production of an Income-tax challan.

December 15, 2023:

  • This date is the deadline for filing Form 24G by a government office, required if TDS/TCS for November 2023 has been paid without the production of a challan.

  • The third installment of advance tax for the assessment year 2024-25 is also due on this date.

  • TDS certificates for tax deducted in October 2023, under sections 194-IA, 194-IB, 194M, and 194S, need to be issued by this date.

  • Stock exchanges must submit a statement in Form no. 3BB regarding transactions with modified client codes after registration for November 2023.

December 30, 2023:

Remember the due date for furnishing challan-cum-statement for tax deducted under sections 194-IB, 194M, 194-IA, and 194S. Timely submission is essential for compliance and avoiding penalties.

December 31, 2023:

This is the final opportunity for filing income tax returns for the assessment year 2023-24, applicable to all assessments not completed before December 31, 2023. This includes both filing belated returns and revising previously filed returns.

By noting these dates and staying proactive with tax obligations, taxpayers can smoothly navigate the tax season, minimizing the risk of penalties or complications.

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