Income Tax Due Date Calendar for November 2023

Taxpayers and companies need to stay up to date about some of the income tax deadlines in November.

According to the Income Tax calendar, there are some important dates in November to ensure comprehensive planning to avoid potential consequences.

To meet these needs on time, one needs to stay organized and plan accordingly. The tax calendar outlines some dates that taxpayers as well as businesses should be aware of.

Important dates for income tax payer:

November 7, 2023

The due date for the deposit of tax deducted/collected for October 2023. The government offices need to pay the sum deducted/collected to the central government on the same day without the production of income-tax challan.

November 14, 2023

Tax Deducted at Source (TDS) certificates need to be issued by November 14, 2023, for tax deducted under sections 194-IA, 194-IB, 194M, and 194S in September 2023.

November 15, 2023

The Quarterly TDS certificate (in respect of tax deducted for payments other than salary) needs to be submitted by November 15 for the quarter ending September 30, 2023.

In addition, Form 24G needs to be furnished by the government offices where TDS/TCS for October 2023 has been paid without producing challan.

Furthermore, stock exchanges need to submit statements in form no. 3BB for transactions in which client codes have been modified after registering in the system for October 2023.

November 30, 2023

This is the most important date for all the taxpayers:

1. Last date to furnish challan-cum-statement in respect of tax deducted under sections 194-IA, 194-IB, 194M, and 194S for the month of October 2023.

2. Due date to file income tax return for the assessment year 2023-24 under section 92E relating to international or specified domestic transactions.

3. For companies that are eligible for weighted deduction under section 35(2AB), a copy of the audit of accounts needs to be submitted to the Secretary, Department of Scientific and Industrial Research.

4. A statement needs to be submitted as required under rules 5D, 5E, and 5F by Scientific research associations, colleges, universities, and Indian scientific research companies.

5. Submitting details for income tax in Form ITR-7 for the assessment year 2023-2 in case of assessments as referred to in clause (a) of Explanation 2 to section 139(1).