Income Tax Deadline: These are the important deadlines of April for taxpayers, complete the pending work, otherwise penalty will be imposed.

Income Tax information Deadline: The new monetary yr has began. While the tax associated work begins for the new monetary yr, the pending work associated to the earlier monetary yr can be settled. In such a scenario, immediately we are going to present you details about some important deadlines which are very important for the taxpayers. If these duties are not accomplished earlier than these due dates, heavy fines can also be imposed.

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The new monetary yr 2024-25 has began from 1 April 2024. This date is very important for monetary establishments, as a result of if there’s any change in the tax system, it comes into impact from at the present time. Let us know which dates are important from the Income Tax level of view in April (Income Tax Deadline 2024).

Taxpayers ought to preserve these dates of April in thoughts

7 April

April 7 is the due date for depositing the tax collected or deducted by any authorities workplace for the earlier month i.e. March 2024. However, the quantity collected or deducted will be paid into the authorities account on the identical day the tax is paid with out producing the revenue tax challan.

14 April

April 14 is the final date for issuance of TDS certificates for tax deducted beneath sections 194-IA, 194-IB, 194M and 194S in the month of February.

fifteenth April

April 15 is the final date for furnishing quarterly assertion relating to overseas remittances in Form No. 15CC for the quarter ending March 2024. It is obtainable by registered sellers.

30 April

• This is the final and really important date. Many issues have due date on at the present time (April due date).
• This is the final date to submit Form 24G from the authorities workplace the place TDS/TCS cost for March 2024 has been made with out presenting the challan.
• This is the deadline to submit Challan-Cum-Statement in respect of tax deducted beneath sections 194-IA, 194-IB and 194M in March 2024.
• This is the final date for depositing the tax for March which has been deducted by any assessee apart from the authorities workplace.
• This is the final date for e-filing of declaration in Form No. 61 containing particulars of Form No. 60 acquired throughout the interval October 1, 2023 to March 31, 2024.
• Due date for importing Form 15G/Form 15H for the quarter January-March 2024

New tax regime will be default

For data, allow us to inform you that from April 1, 2024, the new tax regime has turn into the default possibility in the nation. Meaning that if in case you have not chosen between the new and outdated tax regime, then your revenue tax return (ITR file) will be filed beneath the new regime. Its goal is to carry extra individuals beneath its ambit by enhancing the strategies of submitting returns. It doesn’t present many deductions and exemptions, however consists of low tax charges.

And if you wish to pay tax by way of the outdated system, then you definitely will have to inform your organization about this. Otherwise he will deduct it out of your wage as per the new tax regime.

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