Income Tax Calendar 2024: Important IT, GST, TDS Dates One Must Know!

As the year 2024 unfolds, staying abreast of income tax-related deadlines becomes crucial for individuals, businesses, and financial institutions alike. Timely compliance not only ensures smooth operations but also aids in avoiding penalties and maintaining regulatory adherence. To assist in navigating the intricate landscape of tax regulations, here’s a comprehensive calendar outlining essential dates related to Income Tax (IT), Goods and Services Tax (GST), Tax Deducted at Source (TDS), and Tax Collected at Source (TCS) for the year 2024.

Also Read: List of Deadlines Extended and Not Extended Beyond 31st December 2023

Income Tax Calendar 2024: Important IT, GST, TDS Dates One Must Know!

January 2024

January kicks off the year with essential tax-related activities. The 7th of January marks the due date for depositing Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) for December 2023, while the 15th of January serves as the deadline for various TDS-related filings. Moreover, by the end of the month, on January 31st, entities need to ensure the submission of quarterly TDS statements to maintain compliance with tax regulations.

• • January 7: Due date for TDS/TCS deposits for December 2023.
  • January 15: Last date for various TDS-related filings and submissions.
  • January 31: Deadline for quarterly TDS statement filings.

February 2024

February maintains the momentum of tax-related obligations. The 7th of February stands as the due date for TDS/TCS deposits for January 2024, followed by the issuance of TDS Certificates for the previous December on February 14th. This month highlights the importance of timely deposits and certificate issuance to meet regulatory requirements.

• • February 7: Due date for TDS/TCS deposits for January 2024.
  • February 14: Issuance of TDS Certificates for December 2023.

March 2024

March signifies the end of the financial year 2023-24 and demands comprehensive attention to tax-saving exercises. By the 2nd of March, filing challan statements for January 2024 is essential. The 15th of March acts as a pivotal date, requiring the completion of advance tax payments and tax-saving exercises. Additionally, by the 31st of March, individuals and entities must finalize various tax-saving investments and expenditures to avail deductions under relevant sections of the Income Tax Act.

• • March 2: Filing challan statements for January 2024.
  • March 15: Deadline for advance tax payments and completion of tax-saving exercises for FY 2023-24.
  • March 31: Last date for various tax-saving investments and expenditures.

April 2024

April commences the new financial year and necessitates adherence to initial tax-related obligations. On April 14th, the issuance of TDS Certificates for February 2024 is imperative. Simultaneously, the month ends with a due date of April 30th for various TDS-related filings and deposits, setting the tone for consistent compliance throughout the year.

• • April 14: Issuance of TDS Certificates for February 2024.
  • April 30: Due date for various TDS-related filings and deposits.

May 2024

May emphasizes the significance of timely deposits and quarterly filings. The 7th of May marks the deadline for TDS/TCS deposits for April 2024. Moreover, the month culminates with the imperative of filing quarterly TDS statements by the 31st of May, underlining the importance of regular compliance in tax-related matters.

• • May 7: Deadline for TDS/TCS deposits for April 2024.
  • May 31: Last date for filing quarterly TDS statements.

June 2024

June emphasizes both proactive measures and filings. The 7th of June sets the deadline for TDS/TCS deposits for May 2024. Simultaneously, on June 15th, individuals and entities need to make the first instalment of advance tax payments, highlighting the necessity of staying ahead with tax obligations in the early stages of the financial year.

• • June 7: TDS/TCS deposit deadline for May 2024.
  • June 15: First instalment of advance tax due.

July 2024

July continues the pattern of regular compliance. By the 7th of July, TDS/TCS deposits for June 2024 are due, emphasizing the consistent need for timely deposits. Moreover, on July 15th, the issuance of various TDS certificates becomes essential, ensuring compliance with regulatory obligations.

• • July 7: TDS/TCS deposits for June 2024.
  • July 15: Deadline for various TDS certificate issuances.

August 2024

August initiates the latter half of the year with significant tax-related obligations. By the 7th of August, entities must complete TDS/TCS deposits for July 2024, ensuring consistent compliance. Additionally, by August 15th, issuing quarterly TDS certificates becomes crucial, emphasizing the importance of timely documentation and adherence to regulatory requirements.

• • August 7: TDS/TCS deposit due for July 2024.
  • August 15: Last date for issuing quarterly TDS certificates.

September 2024

September advances further into tax compliance requirements. By the 7th of September, the due date for TDS/TCS deposits for August 2024 must be met. Moreover, on September 15th, entities need to make the second installment of advance tax payments, reinforcing the need for proactive tax planning and compliance measures.

• • September 7: TDS/TCS deposits for August 2024.
  • September 15: Second instalment of advance tax due.

October 2024

October reinforces the importance of consistent tax-related activities. By the 7th of October, the deadline for TDS/TCS deposits in September 2024 is imperative, maintaining the rhythm of timely deposits. Additionally, October 31st marks the last date for various filings and income tax returns, emphasizing the necessity of completing tax-related documentation.

• • October 7: TDS/TCS deposits for September 2024.
  • October 31: Last date for various filings and income tax returns.

November 2024

November continues the pattern of meeting crucial tax-related deadlines. By the 7th of November, TDS/TCS deposits for October 2024 must be completed, underscoring the significance of regular and timely deposits. Simultaneously, on November 30th, the deadline for challan statements and income tax return filings becomes imperative, signaling the need for comprehensive compliance measures.

• • November 7: TDS/TCS deposits for October 2024.
  • November 30: Deadline for challan statements and income tax return filings.

December 2024

December signifies the final month of the year for tax-related activities. By the 7th of December, entities need to complete TDS/TCS deposits for November 2024, ensuring compliance and financial regularity. Furthermore, by December 15th, making the third instalment of advance tax payments is necessary, signifying the end-of-year tax planning measures. Finally, December 31st serves as the last date for belated or revised ITR filings for the FY 2023-24, marking the conclusion of the tax year with a focus on compliance and documentation.

• • December 7: TDS/TCS deposits for November 2024.
  • December 31: Final date for belated/revised ITR filings for FY 2023-24.