Income Tax Calendar for December 2023: Key Deadlines You Should Not Miss This Month

As we are approaching the end of the year 2023, all taxpayers must be mindful of important deadlines related to their income tax responsibilities. December 2023 presents several key dates that require attention. Here's a simple breakdown:

7 December 2023:

Deadline to deposit tax deducted or collected for November 2023.

Government offices must ensure timely crediting to the Central Government.

15 December 2023:

Government offices must file Form 24G if TDS/TCS for November 2023 was paid without a challan.

The third installment of advance tax for the assessment year 2024-25 is due.

TDS certificates for tax deducted in October 2023 must be issued by this date (sections 194-IA, 194-IB, 194M, and 194S).

Stock exchanges should submit Form no. 3BB for transactions where client codes were modified after system registration in November 2023.

December 30, 2023:

Do not forget the due date for submitting challan-cum-statements for tax deducted under various sections (194-IB, 194M, 194-IA, and 194S). Timely submission is crucial to stay compliant and avoid penalties.

December 31, 2023:

For those who have not filed their income tax return for the assessment year 2023-24, here is your chance. This applies to all assessments not completed before December 31, 2023. It includes filing belated returns and revising previously filed returns.

December 2023 holds key deadlines. Mark these dates on your calendar, stay proactive with your tax responsibilities, and sail through the tax season smoothly without facing unnecessary penalties or complications.