Tax calendar for November 2023 — Full list of activities you should complete next month
- October 31, 2023
- CA Chandan Agarwal's Office
As we are just few days away from November 2023 now, a lot of tax-related deadlines await us. Here we list key ones that you should be aware of
Effective income tax planning helps in reducing tax liabilities and enhancing savings. There are several tax-related tasks that individuals should undertake in November 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:
November 7
This is the due date for depositing tax deducted/collected for the month of October, 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.
November 14
It is the due date for issuing TDS certificate for tax deducted under section 194-IA, section 194-IB, section 194M and section 194S in the month of September, 2023.
November 15
This is the deadline for submitting quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the quarter ending September 30, 2023. It is also the due date for furnishing of Form 24G by an office of the government where TDS/TCS for the month of October, 2023 has been paid without the production of a challan.
Additionally, taxpayers should furnish statement in Form number 3BB by a stock exchange in respect of transactions in which client codes have been modified after registering in the system for the month of October, 2023.
November 30
This is the due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, section 194-IB, section 194M and section 194S in the month of October, 2023.
Return of income for the assessment year 2023-24 should be submitted by November 30 in case the assessee is required to submit a report under section 92E pertaining to international or specified domestic transaction(s). Statement of income distribution by Venture Capital Company or venture capital fund in respect of income distributed during previous year 2022-23 (Form No. 64) should be submitted by this date as well.
Additionally, statement should be furnished in Form number 64D by Alternative Investment Fund (AIF) to Principal CIT or CIT in respect of income distributed (during previous year 2022-23) to units holders by November 30.
Besides, November 30 is the due date to exercise option of safe harbour rules for international transaction by furnishing Form 3CEFA and safe harbour rules for specified domestic transaction by furnishing Form 3CEFB
It is also the deadline for filing of statement of income distributed by business trust to unit holders during the financial year 2022-23 and for furnishing of return of income in Form ITR-7 for the assessment year 202324 in case assessees are referred to in clause (a) of Explanation 2 to section 139(1).
Source: https://www.cnbctv18.com/personal-finance/income-tax-calendar-november-2023-full-list-deadlines-itr-filing-tds-tcs-18190761.htm
