Income Tax Deadline 2024: In India staying informed about deadlines is more than just a necessity
As the year winds down, December becomes a pivotal month for taxpayers to fulfill their financial and compliance responsibilities. With critical deadlines for tax deductions, advance tax payments and filing returns, proactive planning is essential to avoid penalties and ensure smooth compliance. Whether you’re an individual, a business, or part of a government office, this December 2024 tax calendar provides a clear roadmap of important dates and obligations.
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In India, where the fiscal year runs from April 1 to March 31, staying informed about these income tax deadlines is more than just a necessity—it’s an opportunity. By keeping track of key dates, you can not only meet your obligations but also optimise your tax strategy, maximising deductions and benefits while turning year-end tax planning into a smart financial move.
Income Tax Deadlines In December 2024
December 07, 2024
- The due date for the deposit of Tax deducted/collected for November 2024. 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
December 15, 2024
- The due date for furnishing of Form 24G by an office of the Government where TDS/TCS for November 2024 has been paid without the production of a challan
- Third instalment of advance tax for the assessment year 2025-26
- The due date for issuing of TDS Certificate for tax deducted under section 194-IA in October 2024
- The due date for issuing of TDS Certificate for tax deducted under section 194-IB in October 2024
- The due date for issuing of TDS Certificate for tax deducted under section 194M in October 2024
- The due date for the 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 November 2024
- The due date for issuing of TDS Certificate for tax deducted under section 194S (by a specified person) in October 2024
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December 30, 2024
- The due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in November 2024
- The due date for furnishing of challan-cum-statement in respect of tax deducted under section 194M in November 2024
- The due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA in November 2024
- Furnishing of report in Form No. 3CEAD for a reporting accounting year (assuming the reporting accounting year is January 1, 2023 to December 31, 2023) by a constituent entity, resident in India, in respect of the international group of which it is a constituent if the parent entity is not obliged to file report under section 286(2) or the parent entity is resident of a country with which India does not have an agreement for exchange of the report etc.
- The due date for furnishing of challan-cum-statement in respect of tax deducted under section 194S (by specified person) in November 2024
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December 31, 2024
- Filing of belated/revised return of income for the assessment year 2024-25 for all assessee (provided assessment has not been completed before December 31, 2024).
