In the realm of financial planning, tax planning takes centre stage as a pivotal strategy to minimise liabilities and bolster savings. A number of tax-related works should be done in September 2023 which people should know to do thorough planning and avoid any consequences. The income tax department has unveiled a comprehensive tax calendar on its website, detailing the pivotal due dates for the month ahead.
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Let's take a look at the due dates:
September 7, 2023
This is the due date for the deposit of tax deducted/collected for August 2023. However, all sums deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day when tax is paid without the production of an income tax challan.
September 14, 2023
This is the due date for the issue of the TDS certificate for tax deducted under sections 194-IA, 194-IB, 194M and 194S in the month of July 2023
September 15, 2023
This is the due date for furnishing Form 24G by an office of the Government where TDS/TCS for the month of August 2023 has been paid without the production of a challan. Also, the second instalment of advance tax for the assessment year 2024-25 should be paid by this date.
It is also the deadline for furnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes have been modified after registering in the system for August 2023.
September 30, 2023
This is the deadline for furnishing challan-cum-statement in respect of tax deducted under sections 194-IA, 194-IB, 194M and 194S in the month of August 2023.
It is also the due date for filing of audit report under section 44AB for the assessment year 2023-24 in the case of a corporate assessee or non-corporate assessee (who is required to submit a return of income on October 31, 2023).
Application in Form 9A must be submitted by September 30 for exercising the option available under Explanation to Section 11(1) to apply the income of the previous year in the next year or in future (if the assessee is required to submit a return of income on November 30, 2023).
Statement in Form no. 10 must also be furnished to accumulate income for future application under section 10(21) or section 11(1) (if the assessee is required to submit a return of income on November 30, 2023).
September 30 is also the last day to submit the quarterly statement of TCS and TDS deposited for the quarter ending June 30, 2023.
First Published: Aug 28, 2023 12:22 PM IST
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