Income tax planning helps in reducing tax liabilities and enhancing savings. There are several tax-related tasks that individuals should undertake in March 2024 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 month, which people should be aware of.
Let's take a look at the due dates:
March 1, 2024
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 (by specified person) in the month of January, 2024
March 7, 2024
This is the due date for deposit of tax deducted/collected for the month of February, 2024.
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.March 15, 2024
Fourth instalment of advance tax for the assessment year 2024-25 is to be paid by this date.
This is also the due date for payment of whole amount of advance tax in respect of assessment year 2024-25 for assessee covered under presumptive scheme of section 44AD / 44ADA.
Additionally, it is the deadline for furnishing of Form 24G by an office of the government where TDS/TCS for the month of February, 2024 has been paid without the production of a Challan
March 16, 2024
This is the deadline for issue of TDS certificate for tax deducted under section 194-IA, section 194-IB, section 194M and section 194S (by specified person) in the month of January, 2024
March 30, 2024
This is the deadline for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, section 194-IB, section 194M and section 194S (by specified person) in the month of February, 2024.
March 31, 2024
Statement should be submitted by March 31 , of foreign income offered to tax and tax deducted or paid on such income in previous year 2022-23, to claim foreign tax credit if return of income has been furnished within the time specified under section 139(1) or section 139(4)
