Income Tax Calendar 2024: Know these important tax-related dates
It is important to meet deadlines especially when it comes to income tax as it can help avoid paying penalties, penal interest, and file income tax return (ITR).
Abhishek Soni, the CEO of Tax2Win.in—an ITR filing website—details the significant income tax-related deadlines from January to December 2024.
January 7: It is the due date for deductors to deposit Tax Deducted at Source and Tax Collected at Source for December 2023. January 7 is also the due date for deductors to deposit TDS for the period October-December 2023 under Section 192 (for Salaries paid), Section 194A (on Interest other than interest on securities), 194D (on Insurance commission), and 194H (on Commission and brokerage).
January 14: It is the due date for issuing TDS certificates under Section 194-IA (TDS on payment made for buying immovable property excluding agricultural land), 194-IB (on monthly rent of a house exceeding Rs 50,000), and 194M (on payment made for contractual work).
January 15: It will be the last date for filing the quarterly statement of TCS deposited for quarter ending December 31, 2023.
January 30: The last date for issuing TCS certificates regarding the tax collected for the quarter ending December 31, 2023, is January 30, 2024. Also, it is the due date for filing the challan statement for TDS deducted under Section 194-IA, Section 194-IB, and Section 194M for December 2023.
January 31: The last date for filing the quarterly statement of TDS deposited for the quarter ending December 31, 2023, is January 31, 2024.
February 7: For January 2024, this is the due date to deposit TDS/TCS.
February 14: To issue TDS certificate under Section 194-IA, Section 194-IB, and Section 194M for the tax deducted in December 2023, this is the due
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