The month of May is about to start and some important dates are coming our way from the income tax department. Thus, every taxpayer needs to pay attention to these dates to not miss any important task falling on the dates. We will share details about the Income Tax calendar for May 2024 below. Paying taxes plays a crucial role for every business following ethics. Thus, these four dates below are important for May 2024.
Important Tax Dates In May 2024
- 7 May 2024: The date is important for the deposit of tax deducted in April 2024. The central government must receive the credit on the day.
- 15 May 2024: The date is important for the issuance of TDS certificates. Thus, all the tax amount deducted in March 2024 under sections 194-IA, 194-IB, 194M, and 194S will come under this category. Apart from that, it will also be the last date for filling the quarterly statements of TCS deposit for Q4 ending March 31, 2024.
- 30 May 2024: There will be a last date for filling the Chalan statement of TDS for Q4 ending March 31, 2023. The date is also the last day to collect the TCS certificate. Collection of TCS certificates can be beneficial for you in case you visit an international trip and pay TCS. It will also help you during the filling of your ITR.
- 31 May 2024: File your quarterly statement for the quarter ending in March 2024. If you are active in donations, it will help in the filling of Form 10BE. You can also donate under Section 80G. Apart from that, June will also have some special dates like 7 June, 14 June, 15 June, and 30 June.
Remembering these dates will help you overcome the tax penalties. Otherwise, it becomes difficult for everyone to cope with these increasing penalties. There are a lot of times when these dates often skip from our minds. Thus, it is better to remember these dates earlier. Therefore, the process becomes easy.
Income Tax plays a crucial role in the development of the country. It also contributes to a lot of factors like the growth of the country and infrastructural development as well. The number of individuals filling an ITR increases every year. The young generation is focused more on such things and taking part actively in the tax paying.
The current year had some minor changes in its taxation. Thus, do mark these dates to not forget your important taxation tasks on these days. Stay tuned for more information on our website.