Knowing the important thing dates associated to taxation is essential for taxpayers to keep away from penalties, handle their funds, file their returns on time, and keep up to date with any modifications in tax legal guidelines and rules. By understanding the due dates of tax funds, reminiscent of advance tax funds and self-assessment tax funds, taxpayers can plan their funds accordingly and keep away from any authorized or monetary penalties.
Filing tax returns on time can even assist taxpayers keep away from penalties and curiosity prices that may accumulate rapidly. Additionally, staying up to date with any modifications in tax legal guidelines and rules is crucial to adjust to tax legal guidelines and rules successfully. Overall, understanding key dates associated to tax may help taxpayers keep compliant with tax legal guidelines, keep away from monetary and authorized penalties, and handle their funds successfully.
Due Dates For May 2023
According to the tax calendar given on the official web site of the Income Tax Department, following are the vital dates for the month of May;
May 07, 2023
Due date for deposit of Tax deducted/collected for the month of April, 2023. However, all sum deducted/collected by an workplace of the federal government shall be paid to the credit score of the Central Government on the identical day the place tax is paid with out manufacturing of an Income-tax Challan
May 15, 2023
​Due date for situation of TDS Certificate for tax deducted below part 194-IA within the month of March, 2023
May 15, 2023
Due date for situation of TDS Certificate for tax deducted below part 194-IB within the month of March, 2023​
May 15, 2023
​Due date for situation of TDS Certificate for tax deducted below part 194M within the month of March, 2023
May 15, 2023
Due date for situation of TDS Certificate for tax deducted below part 194S within the month of March, 2023
Note: Applicable in case of specified individual as talked about below part 194S
May 15, 2023
​Due date for furnishing of Form 24G by an workplace of the Government the place TDS/TCS for the month of April, 2023 has been paid with out the manufacturing of a challan
May 15, 2023
​Quarterly assertion of TCS deposited for the quarter ending March 31, 2023
May 15, 2023
​Due date for furnishing assertion in Form no. 3BB by a inventory change in respect of transactions during which consumer codes have been modified after registering within the system for the month of April, 2023
May 30, 2023
​Submission of an announcement (in Form No. 49C) by non-resident having a liaison workplace in India for the monetary 12 months 2022-23
May 30, 2023
Due date for furnishing of challan-cum-statement in respect of tax deducted below part 194-IA within the month of April, 2023​
May 30, 2023
​Due date for furnishing of challan-cum-statement in respect of tax deducted below part 194M within the month of April, 2023​
May 30, 2023
​Due date for furnishing of challan-cum-statement in respect of tax deducted below part 194-IB within the month of April, 2023
May 30, 2023
Due date for furnishing of challan-cum-statement in respect of tax deducted below part 194S within the month of April, 2023
Note: Applicable in case of specified individual as talked about below part 194S
May 30, 2023
​Issue of TCS certificates for the 4th Quarter of the Financial Year 2022-23
May 31, 2023
​Quarterly assertion of TDS deposited for the quarter ending March 31, 2023
May 31, 2023
​Return of tax deduction from contributions paid by the trustees of an accredited superannuation fund​
May 31, 2023
​Due date for furnishing of assertion of economic transaction (in Form No. 61A) as required to be furnished below sub-section (1) of part 285BA of the Act respect for monetary 12 months 2022-23
May 31, 2023
​Due date for e-filing of annual assertion of reportable accounts as required to be furnished below part 285BA(1)(okay) (in Form No. 61B) for calendar 12 months 2022 by reporting monetary establishments
May 31, 2023
​Application for allotment of PAN in case of non-individual resident individual, which enters right into a monetary transaction of Rs. 2,50,000 or extra throughout FY 2022-23 and hasn’t been allotted any PAN
May 31, 2023
​Application for allotment of PAN in case of individual being managing director, director, associate, trustee, creator, founder, karta, chief government officer, principal officer or workplace bearer of the individual referred to in Rule 114(3)(v) or any individual competent to behave on behalf of the individual referred to in Rule 114(3)(v) and who hasn’t allotted any PAN​
May 31, 2023
​Application in Form 9A for exercising the choice accessible below Explanation to part 11(1) to use earnings of earlier 12 months within the subsequent 12 months or in future (if the assessee is required to submit return of earnings on or earlier than July 31, 2023)
May 31, 2023
​Statement in Form no. 10 to be furnished to build up earnings for future software below part 10(21) or part 11(1) (if the assessee is required to submit return of earnings on or earlier than July 31, 2023)​
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