Tax Calendar For September 2023: Things You Must Complete Before These Due Dates

September month is about the start and there are certain important dates pertaining to the tax work that you must be aware of. Why? Because it is essential in tax planning and to avoid further consequences. 

The income tax department has introduced the latest tax calendar for September 2023 on its official portal including essential due dates. The due dates are as follows:

7th September 2023

This is the due date for the deducted/collected tax in August 2023. All the sums collected or deducted by the Government offices shall be paid to the Central Government on the same day of tax paid without the income tax challan.

14th September 2023

This is the due date for the issuance of the TDS deducted u/s 194-IA, 194-IB, 194M & 194S in July 2023

15th September 2023

This is the due date to submit Form 24G by a Government office that has paid TDS/TCS for August 2023 without a challan. Additionally, the second advance tax installment for the assessment year 2024-25 should be paid by this date.

Similarly, It is also the due date for submitting statement Form no. 3BB by a stock exchange regarding transactions where client codes were changed after registration in the system for August 2023.

30th September 2023

This is the due date for submitting the challan-cum-statement for taxes deducted under sections 194-IA, 194-IB, 194M, and 194S during the month of August 2023.

30th September 2023

The due date to submit a challan-cum-statement for tax deducted under sections 194-IA, 194-IB, 194M, and 194S for the month of August 2023 is September 30.

Audit Report Filing: For the assessment year 2023-24, corporate assesses or non-corporate assesses who need to file their income tax return by October 31, 2023, have to submit their audit report under section 44AB by September 30.

Option to Apply Income of Previous Year: If you're an assessee required to submit a return of income on November 30, 2023, you must apply for the option available under Explanation to Section 11(1) to use the income of the previous year in the next year or future. The application in Form 9A must be submitted by September 30.

If you are an assessee required to submit a return of income on November 30, 2023, you need to furnish a Statement in Form No.10 to accumulate income for future application under section 10(21) or section 11(1) by September 30.

September 30 is also the deadline to submit the quarterly statement of TCS and TDS deposited for the quarter ending June 30, 2023.

Ensure to meet these deadlines to fulfill your tax-related responsibilities. 

Also Read: The Late Fee To Pay: If You Fail To e-verify Your Tax Returns Before 31st August