Income Tax Planning: In order to avoid issues later, these tax-related duties must be completed before January 31

 Income Tax Planning: In order to avoid issues later, these tax-related duties must be completed before January 31

Income Tax Planning: In order to avoid issues later, these tax-related duties must be completed before January 31

Income Tax Planning: Planning for income taxes lowers tax obligations and boosts savings. You have a lot of tax-related activities to do before January 2024. A list of those works that deal with taxes may be found here. To ensure that you have no issues at all, these tasks must be finished in January.

January 7th

The deadline for depositing withheld taxes is this date. On the other hand, the tax department said that any funds received or withheld by government agencies would be deposited into the central government account on the same day as taxes are paid, even if an income tax challan is not presented.

This date also serves as the deadline for the quarterly TDS deposits permitted under sections 192, 194 A, D, or H of the assessment for the months of October 2023 through December 2023.

January 14

This is the deadline for November 2023 TDS certificate issuance for taxes deducted under sections 194-IA, 194-IB, 194M, and 194S.

January 15,

This is the deadline for submitting Form 24G to the government office that has received payment for TDS/TCS for December 2023 without the need to show the challan. By this date, TCS quarterly data for the quarter ending in December 2023 must also be supplied. Additionally, Form 15G/15H declarations received during the quarter ending in December 2023 must be submitted by this date.

Additionally, Form No. 49BA contains the statement required by Rule 114AAB for the quarter ending in December 2023.

January 30

By January 30, the quarterly TCS certificate for the quarter ending in December 2023 must be filed.

By December 2023, challan statements for taxes withheld under sections 194-IA, 194-IB, 194M, and 194S must be sent in.

By January 30, the quarterly TDS information for the quarter ending in December 2023 must also be supplied.

January 31st

The banking company's TCS quarterly return on interest on FD must be submitted by January 31 for the December 2023 quarter. By January 31, information from pension funds and sovereign wealth funds on their investments in India for the quarter ending in December 2023 must also be submitted.