Tax Calendar September 2023: From TDS deposit to TDS/ TCS certificates and challans to advance tax to audit report; here’s the complete list of activities you should complete in September
Tax planning is an essential part of financial management. For this, one must know the key dates for tax payments. A tax calendar helps taxpayers to stay organised and compliant with tax requirements. Here are the tax due dates for September 2023.
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September 7: TDS/ TCS Deposit
September 7, 2023, is the due date for the deposit of tax deducted/ collected for August 2023. However, all sums deducted/collected by a government office 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.
September 14: TDS Certificate
The deadline to issue a TDS certificate for tax deducted under Sections 194-IA, 194-IB, 194M and 194S in July 2023 is September 14.
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September 15: Form 24G, Advance Tax, Form 3BB
It is the last date to furnish Form 24G by a government office. It is for those who have paid TDS/ TCS for August 2023 without the production of a challan.
It is also the last date to pay the second instalment of advance tax for the assessment year 2024-25.
Apart from these, a statement in Form No 3BB needs to be furnished by a stock exchange in respect of transactions in which client codes have been modified after registering in the system for August 2023.
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September 30: TDS Challan, Audit Report, ITR, Form 9A
It is the due date to furnish challan-cum-statement in respect of tax deducted in August 2023 under Sections 194-IA, 194-IB, 194M and 194S.
By September, an audit report under Section 44AB also needs to be filed for AY 2023-24 in the case of a corporate assessee or non-corporate assessee (who is required to submit an income tax return on October 31, 2023).
It is also the deadline to submit the application in Form 9A for exercising the option available under Explanation to Section 11(1) to apply the income of the previous year in the next year or in future (if the assessee is required to submit a return of income on November 30, 2023).
Statement in Form No. 10 must also be furnished to accumulate income for future application under section 10(21) or section 11(1) (if the assessee is required to submit a return of income on November 30, 2023).
By September 30, taxpayers need to submit the quarterly statement of TCS and TDS deposited for the quarter ending June 30, 2023.
