Meeting deadlines for income tax returns is important to avoid penal interest, incurring penalties and ensure that the income tax returns (ITR) get filed timely. You can prevent tax notices and manage your finances effectively if you follow these deadlines. Read this article to learn about the important deadlines for November 2024.
Key Dates For Tax Compliance:
November 7, 2024
The TDS/TCS payment deadline is October 2024.
November 14, 2024
Issuance due dates for TDS certificates:
Form 16B for tax withheld in September 2024 under section 194-IA.
Form 16C for taxes withheld in September 2024 under section 194-IB.
Form 16D for taxes withheld in September 2024 under section 194M.
November 15, 2024
In some cases, the Income Tax Department has extended the deadline for filing income tax returns (ITR) for the fiscal year 2023-2024 (Assessment Year 2024-25) from October 21, 2024 to November 15, 2024. Certain taxpayers who must file their ITR by October 31, 2024, and submit a tax audit report by September 30, 2024, are eligible for this extension.
In case you are required to submit a tax audit report, you must also file your income tax return within the specific deadline. Both the tasks are related and should be finished successively as per their respective deadlines. You can proceed with filing your income tax return (ITR) after submitting a tax audit report.
The deadline for October 2024 PF and ESI contributions.
The deadline for filing the TCS return (Form 27EQ) for the quarter that ends in September 2024.
“The Central Board of Direct Taxes (CBDT), in exercise of its powers under section 119 of the Income-tax. Act,1961 (‘the Act’), extends the due date of furnishing of Return of Income under sub-section ( 1) of section 139 of the Act for the Assessment Year 2024-25 in the case of assessees referred to in clause (a) of Explanation 2 to sub-section ( 1) of section 13 9 of the Act, which is 31st October 2024 to 15th November, 2024,” said the Ministry of Finance via Central Board of Direct Taxes in a circular dated October 26, 2024.
November 30, 2024
Upcoming deadlines for the challan-cum-statement for tax deducted under Section 194IA, 194IB, and 194M:
Challan-cum-statement requirements under Sections 194IA (Form 26QB), 194IB (Form 26QC), and 194M are due in October 2024.
Additionally, it is important to keep in mind the deadline for submitting the income tax return (ITR) in transfer pricing cases, particularly for those who have engaged in certain domestic and international transactions in the financial year 2023–2024.
