Income Tax Calendar For November 2024: Key Deadlines You Need To Know
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Staying on top of income tax deadlines is essential to avoid penalties and ensure seamless financial management. For individuals and businesses alike, November 2024 presents several important dates within India’s fiscal year (April 1 – March 31) where specific tax obligations must be met. Here’s a quick guide to keep you updated on the key tax dates for November.
# November 2024 Tax Deadlines at a Glance
Keep an eye on the following dates to remain compliant and make the most of tax-saving opportunities:
November 7, 2024
- Tax Deduction Deposit: Last date to deposit tax deducted/collected for October 2024. Government offices must remit tax to the Central Government on the day it’s deducted, without requiring an Income-tax Challan.
November 14, 2024
TDS Certificate Issuance: Due date to issue TDS certificates for tax deducted in September 2024 under sections:
- 194-IA (transfer of certain immovable property),
- 194-IB (rent by individuals/HUFs not liable to audit),
- 194M (contract, commission, brokerage),
- 194S (for specified persons on certain payments).
November 15, 2024
- Quarterly TDS Certificate: For non-salary payments for the quarter ending September 30, 2024.
- Form 24G Submission: Government offices that remitted TDS/TCS in October without a challan must file Form 24G.
- Form 3BB Filing by Stock Exchanges: Submission of the modified client code transactions for October 2024.
November 30, 2024
- Challan-cum-Statement Submission : Due date for challan-cum-statement filing for tax deducted in October 2024 under sections:
- Income Return Filing for AY 2024-25: Applicable to assessees with a section 92E report for international or specified domestic transactions.
- International Group Compliance: Entities in international groups must submit Form 3CEAA for the 2023-24 accounting year.
- Income Distribution Statements:
- Form 64D for Alternative Investment Funds (AIFs) distributing income.
- Safe Harbour Option: File Forms 3CEFA and 3CEFB for international or specified domestic transactions, respectively.
- Business Trust Income Distribution: Business trusts must submit Form 64A for income distributed during FY 2023-24.
- Scientific and Industrial Research Compliance: Companies claiming weighted deductions under section 35(2AB) must submit audit copies if engaged in specific international/domestic transactions.
- Scientific Research Reporting: Relevant institutions must submit statements per rules 5D, 5E, and 5F if the return filing deadline is November 30, 2024.
- Form 3CEJ for Investment Funds: Eligible funds must e-file reports on arm’s length remuneration prices for fund managers if income returns are due on November 30, 2024.
By keeping track of these dates, taxpayers can ensure compliance, maximize deductions, and take advantage of available financial benefits.