Tax calendar for October 2023 — Full list of activities you should complete next month
- September 26, 2023
- CA Chandan Agarwal's Office
As we approach October 2023, several critical tax-related deadlines loom on the horizon. Below, we’ve outlined the key dates you need to keep in mind.
Effective income tax planning aids in reducing tax liabilities and enhancing savings. There are several tax-related tasks that individuals should undertake in October 2023 to ensure comprehensive planning and mitigate potential consequences. The income tax department has published a comprehensive tax calendar on its website, outlining the due dates for the upcoming month, which people should be aware of.
Let’s take a look at the due dates:
October 7, 2023
It is the due date for deposit of tax deducted/collected for the month of September, 2023. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an income tax challan.
It is also the date for deposit of TDS for the period July 2023 to September 2023 when assessing officer has permitted quarterly deposit of TDS under section 192, 194A, 194D or 194H.
October 15, 2023
It is the last day of the submission of Form 24G by an office of the Government reflecting TDS/TCS payments made in September 2023 without the production of a challan. Also, this is also the deadline for issuing TDS Certificates for tax deductions made under sections 194-IB, 194M, 194S in August 2023.
Furthermore, by October 15th, the quarterly TCS statement for the quarter ending on September 30, 2023, needs to be deposited. Taxpayers are mandated to upload recipient declarations in Form No. 15G/15H for the quarter ending in September 2023 by this date.
Moreover, this deadline also applies to the submission of statement in Form No. 3BB by a stock exchange concerning transactions where client codes were modified after registration in the system during September 2023. Lastly, both the quarterly TCS certificate for tax collected by any individual and the quarterly TDS certificate (for payments other than salary) for the quarter concluding on June 30, 2023, must be completed by October 15th.
October 30, 2023
This is the due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, 194-IB, 194M and 194S in the month of September, 2023
October 30 is also the deadline for submission of quarterly TCS certificate (in respect of tax collected by any person) for the quarter ending September 30, 2023.
October 31, 2023
Intimation by a designated constituent entity, resident in India, of an international group in Form no. 3CEAB for the accounting year 2022-23 should be done by October 31. Along with this, quarterly statement of TDS deposited for the quarter ending September, 2023 should be submiited by October 31.
Also, it’s the last day for furnishing of Annual audited accounts for each approved programmes under section 35(2AA). Additionally, quarterly return of non-deduction of tax at source by a banking company from interest on time deposit in respect of the quarter ending September, 2023 should be submitted by October 31, 2023.
Moreover, it’s the deadline for filing of return of income for the assessment year 2023-24 if the assessee (not having any international or specified domestic transaction) is (a) corporate-assessee or (b) non-corporate assessee (whose books of account are required to be audited) or (c)partner of a firm whose accounts are required to be audited or the spouse of such partner if the provisions of section 5A apply.
Audit report under section 44AB for the assessment year 2023-24 should be submitted by October 31 in the case of an assessee who is also required to submit a report pertaining to international or specified domestic transactions under section 92E.
Source: https://www.cnbctv18.com/personal-finance/income-tax-calendar-october-2023-full-list-deadlines-due-dates-tds-tcs-17870661.htm
