The month of November is poised to be a pivotal period for taxpayers, with a slew of important tax-related tasks on the horizon.
The Income Tax Department has unveiled its official tax calendar for November, outlining key dates for taxpayers. It’s imperative to be well-informed about these deadlines.
November 7: Deposit of Tax Deducted or Collected
On November 7, taxpayers must deposit tax deducted or collected during October.
Notably, all taxes collected or deducted by government offices will be directly deposited into the Central Government’s account on the same day, eliminating the need for an income tax challan.
November 14: TDS Certificate Issuance
This date marks the deadline for issuing TDS certificates for tax deducted under sections 194-IA, 194-IB, 194M, and 194S in September 2023.
November 15: Quarterly TDS Certificates and More
November 15 serves as the last date for submitting quarterly TDS certificates for non-salary payments for the quarter ending on September 30, 2023.
It is also the due date for submitting Form 24G by government offices that have paid TDS without a challan for October 2023.
Additionally, taxpayers are required to provide details in Form No. 3BB to the Stock Exchange for transactions where customer codes were updated post-registration in the system for October 2023.
November 30: Crucial Deadline Day
November 30 is the due date for providing challan cum details related to tax deducted under sections 194-IA, 194-IB, 194M, and 194S in October 2023.
Moreover, if a report under section 92E is mandatory for international or certain domestic transactions, the return of income for the assessment year 2023-24 must be filed by this date.
In addition, earnings from the venture capital company or venture capital fund for the previous fiscal year 2022-23, reported in Form No. 64, should also be submitted on the same day.
Unit holders’ income on behalf of Alternative Investment Fund (AIF) must be submitted to the Principal CIT or CIT in Form No. 64D by November 30.
Furthermore, the option to avail of safe port rules for international transactions by submitting Form 3CEFA also expires on November 30.
Be sure to mark these deadlines on your calendar to stay compliant with tax regulations.
