Income Tax calendar for December 2023; Check all important deadlines that you should not miss this month


As the year comes to a close, it is essential for all taxpayers to stay aware of the important deadlines that they must meet for their income tax obligations. December 2023 brings along several crucial dates that should not be missed. Let’s take a closer look at the income tax calendar for December 2023.

7 December, 2023

This date marks the due date for the deposit of tax deducted or collected for the month of November 2023. It is important to note that all sums deducted or collected by a government office should be paid to the credit of the Central Government on the same day, where tax is paid without production of an Income-tax challan. 

15 December, 2023

Firstly, this date is the due date for furnishing Form 24G by a government office. This form should be filed if the TDS/TCS for the month of November 2023 has been paid without the production of a challan. Additionally, the third instalment of advance tax for the assessment year 2024-25 is also due on this date.

Furthermore, several TDS certificates for tax deducted in October 2023 are also required to be issued by 15th December 2023. This includes TDS certificates for tax deducted under section 194-IA, section 194-IB, section 194M, and section 194S, depending on the specific provisions applied.

On the same date, a stock exchange is also required to furnish a statement in Form no. 3BB regarding transactions in which client codes have been modified after registering in the system for the month of November 2023. 

30 December, 2023

It is essential to remember the due date for furnishing challan-cum-statement in respect of tax deducted under various sections. This includes section 194-IB, section 194M, section 194-IA, and section 194S. Timely submission of these challan-cum-statements is crucial to ensure compliance and avoid any penalties.

31 December, 2023

Lastly, there is an opportunity for those who have not yet filed their income tax return for the assessment year 2023-24 to do so. This applies to all assessments, provided that the assessment has not been completed before 31st December 2023. It is important to note that this is for both filing belated returns and revising previously filed returns. 

December 2023 has several important deadlines that taxpayers must not miss. By marking these dates in our calendars and staying proactive with tax obligations, you can navigate the tax season smoothly and avoid any unnecessary penalties or complications.

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