Adhering to tax-related rules set by the Indian government is a must for taxpayers in India. Regardless, it’s essential for any responsible citizen to pay their taxes promptly and follow all the significant tax-related guidelines proposed by the government. This is crucial for the overall betterment of the economy. When taxpayers stick to the compliance calendar, it enables the government to manage administrative tasks related to tax collection efficiently.
Filing Income Tax returns on time is not only a civic duty but also helps taxpayers steer clear of hefty penalties and fines imposed by the government. By fulfilling these obligations, individuals contribute to the smooth functioning of the nation’s financial systems and support various public services. It’s a collective effort that ensures resources are appropriately allocated for the betterment of society.
December 2023 Compliance Calendar of Income Tax
| Due Date | Description | Section |
| 07-12-2023 | “Due date for deposit of Tax deducted/collected for the month of November 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” | Income-tax Challan |
| 15-12-2023 | “Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of November, 2023 has been paid without the production of a challan” | Form 24G |
| 15-12-2023 | Third instalment of advance tax for the assessment year 2024-25 | Advance Tax |
| 15-12-2023 | “Due date for issue of TDS Certificate for tax deducted under section 194-IA, 194-IB, 194M and 194S in the month of October, 2023”
“Note: Applicable in case of specified person as mentioned under section 194S” |
Section 194-IA, 194-IB, 194M and 194S |
| 15-12-2023 | “Due date for furnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of November 2023” | Form no. 3BB |
| 30-12-2023 | “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 November 2023”
“Note: Applicable in case of specified person as mentioned under section 194S” |
Section 194-IA, 194-IB, 194M and 194S |
| 30-12-2023 | “Furnishing of report in Form No. 3CEAD for a reporting accounting year (assuming reporting accounting year is January 1, 2022 to December 31, 2022) by a constituent entity, resident in India, in respect of the international group of which it is a constituent if the parent entity is not obliged to file report under section 286(2) or the parent entity is resident of a country with which India does not have an agreement for exchange of the report etc.” | Form No. 3CEAD |
| 31-12-2023 | “Filing of belated/revised return of income for the assessment year 2023-24 for all assessee (provided assessment has not been completed before December 31, 2023)” | Belated/Revised Return |
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Authored by Arghya Sen, 3rd year BALLB Student at Amity University, Kolkata
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