By adhering to these Income Tax Compliance deadlines for September 2024, taxpayers can ensure they remain compliant with the law and avoid last-minute financial stress.
Income Tax Calendar for September 2024: Adhering to tax compliance in the month of September 2024 is essential for both individuals and businesses to avoid legal issues and support the economy. Taxpayers can ensure smooth compliance by keeping accurate financial records, staying updated on tax regulations, filing returns on time, and leveraging technology for easier management. By following these practices, taxpayers can minimize errors, reduce stress, and avoid penalties while fulfilling their civic duties responsibly.
For September 2024, taxpayers must adhere to specific deadlines established by the Income Tax Department to avoid penalties and ensure smooth tax compliance.
Here’s a comprehensive guide to the important tax deadlines for September 2024:
September 7, 2024:
- Last date for the deposit of Tax Deducted at Source (TDS) or Tax Collected at Source (TCS) for August 2024.
Note: Government offices must pay the TDS/TCS to the credit of the Central Government on the same day if no challan is produced.
September 14, 2024:
Deadline for issuing TDS certificates for the following:
- TDS deducted under section 194-IA in July 2024
- TDS deducted under section 194-IB in July 2024
- TDS deducted under section 194M in July 2024
- TDS deducted under section 194S (by specified persons) in July 2024
September 15, 2024:
- Last date to furnish Form 24G for Government offices where TDS/TCS for August 2024 was paid without a challan.
- Second instalment due for advance tax for the assessment year 2025-26.
- Deadline for submitting Form 3BB by stock exchanges for transactions with modified client codes for August 2024.
September 30, 2024:
- Deadline for submitting challan-cum-statements for TDS under sections 194-IA, 194-IB, 194M, and 194S (for specified persons) for August 2024.
- Deadline for filing audit reports under section 44AB for the assessment year 2024-25 for corporate and non-corporate taxpayers (required to submit returns by October 31, 2024).
- Deadline for submitting Form 9A to apply income of the previous year in future years under section 11(1) (for taxpayers required to file returns by November 30, 2024).
- Deadline for filing statements in Form 10 to accumulate income for future application under section 10(21) or section 11(1) (for taxpayers with returns due by November 30, 2024).
- Last date to furnish audit reports in Form 10B/10BB for trusts, funds, educational institutions, and medical institutions.
Importance of Meeting These Deadlines
Maintaining compliance with these tax deadlines is vital for avoiding interest, fines, or penalties. Effective tax planning helps in managing finances better and ensures timely submission of forms and returns.
By adhering to these deadlines, taxpayers can ensure they remain compliant with the law and avoid last-minute financial stress.
To Access the Income Tax Compliance Calendar in the I-T portal Click Here
Also Read: CBDT Forms Committee to Revise Income Tax Act 1961, Plans to Eliminate ‘Sunset’ Clauses
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