Failure to fulfill tax deadlines might lead to late cost charges and penalties. (Representative picture)
Understanding the tax calendar is important for upholding monetary self-discipline, evading penalties, and adhering to the tax legal guidelines and laws
The tax calendar offered by the Income Tax Department (IT division) in outlines essential deadlines regarding taxes, together with the submission of earnings tax returns, cost of advance tax, and tax deductions at supply. Failure to fulfill these deadlines might lead to late cost charges and penalties.
Understanding the tax calendar is important for upholding monetary self-discipline, evading penalties, and adhering to the tax legal guidelines and laws set forth by the IT Department. It allows people and companies to strategise successfully, deal with funds proficiently, and meet their tax tasks promptly.
Here’s the tax calendar for March 2024:
Upcoming Dates
March 7, 2024
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The due date for the deposit of Tax deducted/collected for February 2024. However, all sum deducted/collected by an workplace of the federal government shall be paid to the credit score of the central authorities on the identical day when tax is paid with out the manufacturing of an earnings-tax challan.
March 15, 2024
- ​Fourth instalment of advance tax for the evaluation yr 2024-25
- ​The due date for cost of the entire quantity of advance tax in respect of the evaluation yr 2024-25 for the assessee lined underneath the presumptive scheme of part 44AD / 44ADA
- ​The due date for furnishing of Form 24G by an workplace of the federal government the place TDS/TCS for the month of February 2024 has been paid with out the manufacturing of a challan
March 16, 2024
- The due date for concern of TDS certificates for tax deducted underneath part 194-IA within the month of January 2024
- The ​​due date for concern of TDS certificates for tax deducted underneath part 194-IB within the month of January 2024​
- ​​The due date for concern of TDS certificates for tax deducted underneath part 194M within the month of January 2024​
- ​The due date for concern of TDS certificates for tax deducted underneath part 194S (by specified individual) within the month of January 2024
March 30, 2024
- ​The due date for furnishing of challan-cum-assertion in respect of tax deducted underneath part 194-IA within the month of February 2024
- ​​The due date for furnishing of challan-cum-assertion in respect of tax deducted underneath part 194-IB within the month of February, 2024​
- ​The due date for furnishing of challan-cum-assertion in respect of tax deducted underneath part 194M within the month of February, 2024
- ​The due date for furnishing of challan-cum-assertion in respect of tax deducted underneath part 194S (by specified individual) within the month of February, 2024
March 31, 2024
- ​Country-by-nation report in Form No. 3CEAD for the earlier yr 2022-23 by a mum or dad entity or the alternate reporting entity, resident in India, in respect of the worldwide group of which it’s a constituent of such group
- ​Country-by-nation report in Form No. 3CEAD for a reporting accounting yr (assuming reporting accounting yr is April 1, 2022 to March 31, 2023) by a constituent entity, resident in India, in respect of the worldwide group of which it’s a constituent if the mum or dad entity shouldn’t be obliged to file report underneath part 286(2) or the mum or dad entity is resident of a rustic with which India doesn’t have an settlement for trade of the report and many others.
- ​Uploading of assertion [Form 67], of international earnings supplied to tax and tax deducted or paid on such earnings within the earlier yr 2022-23, to say international tax credit score [if the return of income has been furnished within the time specified under section 139(1) or section 139(4)
- ​Furnishing of an updated return of income for the assessment year 2021-22.
Past Date
March 1, 2024​
- The due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA​ in January 2024
- The due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in January 2024​
- ​The due date for furnishing of challan-cum-statement in respect of tax deducted under section 194M in January 2024
- The due date for furnishing challan-cum-statement in respect of tax deducted under section 194S (by specified person) is January 2024.
