The due date for issue of TDS certificate for tax deducted under section 194-IA in the month of March, 2023 was May 15 (Representational Image)
Income Tax Dates: Knowing the key tax related dates can help taxpayers to comply with tax laws, avoid financial and legal consequences.
Staying in the loop with important tax deadlines is essential for individuals to avoid penalties, handle their finances effectively, meet filing requirements promptly, and keep up with any changes in tax law. By understanding the important dates for tax payment including advance payment and self-assessment, taxpayers can proactively strategize their financial affairs and stay away from any potential legal or monetary implications.
filing on time Tax Returns Can save taxpayers from accumulating speedy penalties and interest charges. Furthermore, an understanding of dynamic tax laws and regulations is critical to effective compliance. Ultimately, being well versed with important tax dates empowers taxpayers to comply with the rules, avoid financial and legal repercussions, and manage their finances efficiently.
Due Dates for May 2023
According to the tax calendar given on the official website of the Income Tax Department, the important dates for the month of May are as follows. Some of the dates listed below have expired.
May 07, 2023
- Due date for deposit of tax deducted/collected for the month of April, 2023. However, all amounts deducted/collected by any office of the Government shall be paid into the account of the Central Government on the same day the tax is paid without production. of an income tax invoice
May 15, 2023
- Due date for issue of TDS certificate for tax deducted under section 194-IA in the month of March, 2023
- Due date for issue of TDS certificate for tax deducted under section 194-IB in the month of March, 2023
- Due date for issue of TDS certificate for tax deducted under section 194M in the month of March, 2023
- Due date for issue of TDS certificate for tax deducted under section 194S in the month of March, 2023
Comment: Applicable in the case of specified person mentioned under section 194S
- Due date for furnishing of Form 24G by Government Office where TDS/TCS has been paid without production of challan for the month of April, 2023
- Quarterly statement of TCS deposited for the quarter ending March 31, 2023
- Due date for submission of statement in Form no. 3BB by the Stock Exchange in respect of transactions where the Client Code is modified after registration in the system for the month of April, 2023
May 30, 2023
- Furnishing of a statement (in Form No. 49C) by a non-resident having a liaison office in India for the financial year 2022-23
- Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA in the month of April, 2023
- Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194M in the month of April, 2023
- Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of April, 2023
- Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194S in the month of April, 2023
Comment: Applicable in the case of specified person mentioned under section 194S
- Issuance of TCS Certificate for Q4 FY 2022-23
May 31, 2023
- Quarterly statement of TDS deposited for the quarter ending March 31, 2023
- Refund of tax deducted from contributions paid by trustees of approved superannuation fund
- Due date for furnishing of statement of financial transactions (in Form No. 61A) required under sub-section (1) of section 285BA of the Act in respect of the financial year 2022-23
- Due date for e-filing of annual statement of reportable accounts to be furnished under section 285BA(1)(k) (in Form No. 61B) by Reporting Financial Institutions for the calendar year 2022
- Application for allotment of PAN in the case of a non-individual resident individual who enters into a financial transaction of Rs. 2,50,000 or more during FY 2022-23 and no PAN has been allotted to him
- Application for allotment of PAN in case the person referred to in rule 114(3)(v) is a managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer or in rule 114(3) (v) any person competent to act on behalf of the person referred to in and who has not been allotted a PAN
- Application in Form 9A for exercising the option available under Explanation to section 11(1) to apply the income of the previous year to the next year or future (if the assessee filed the return of income on or before the 31st day of July, 2023) need to do)
- Statement in Form No. 10 for accumulated income to be furnished for future application under section 10(21) or section 11(1) (if the assessee is required to submit the return of income on or before 31st July, 2023)
