To minimise tax deduction and maximise the advantage of authorities Tax saving schemes it is very important be punctual and full submitting and documentation earlier than the Revenue Tax division’s deadline. In Might, the IT division laid out 4 vital dates associated to revenue tax.
The IT division has talked about due dates for duties like submitting TDS for April, making use of for PAN playing cards for NRIs, submitting TCS certificates for the quarter ending in March of FY23, and so forth.
7 Might
As per the IT division’s calendar, it is very important deposit tax deducted or collected for the previous month. Therefore, individuals must mandatorily submit their TDS for April by Might 7. Failure to take action may result in the imposition of penalties.
15 Might
It’s the due date for the issuance of the TDS Certificates for tax deducted beneath part 194-IA in March is Might 15. The date can be essential for the issuance of the TDS certificates for tax deducted beneath part 194-IB, 194M, 194S, of March month. The final date for the submission of the quarterly assertion of TCS deposited for the March quarter lies on Might 15.
30 Might
It is vital for the taxpayers to furnish their challan-cum-statement in respect of tax deducted beneath sections 194-IA, 194M, 194-IB, and 194S, in April month. It’s also the final date to situation TCS certificates for the March quarter of FY23.
31 Might
It is very important deposit a quarterly assertion of the deposited TDS for the March quarter of FY23 by Might 31, 2023. It’s also necessary to furnish an announcement of economic transaction in Type No. 61A), as per the format laid beneath sub-section (1) of part 285BA of the IT Act, 1961, for the monetary 12 months 2022-23 by Might 31, 2023.
It’s the final date to use for the allotment of PAN in case of a non-individual resident individual. After the date, non-individual individuals with monetary transactions of Rs. 2,50,000 or extra throughout FY 2022-23 will not be allotted any PAN card.