Months Compliance

Income Tax Compliance Calendar For July 2023

Here is the comprehensive income tax compliance schedule for July 2023. It is crucial to keep track of the deadlines to prevent incurring avoidable penalties. The deadline for filing Income Tax Returns (ITR) without any fines is July 31st, 2023.

Krishna Gopal Varshney

An editor at Myitronline

Apr 30, 2024
5 min read
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Income Tax Compliance Calendar For July 2023

April is a significant month for all taxpayers and businesses to complete all the vital compliance filing before the due dates. All businesses regardless of the business structure held onto statutory compliance and completed all the critical filings before the due dates.

For all business transactions, there are some essential compliances that a business owner must fulfill as a moral duty. These compliances are timely framed and must be completed within the given deadlines. So here we are with the tax and compliance calendar for the due dates falling in April 2023 including GST return filing, RoC Filing, income tax filing, etc.

Sr.no.	Compliance Particular	Due Dates
1.	The deadline for depositing the tax deducted/collected for the month of June 2023 is the due date.	7th July 2023
2.	When the Assessing Officer has granted permission for quarterly deposit of TDS under sections 192, 194A, 194D, or 194H, the due date for depositing TDS for the period April 2023 to June 2023 is applicable.	7th July 2023
3.	The due date for furnishing the TDS Certificate for tax deducted u/s 194-IA in May 2023	15th July 2023
4.	The due date for furnishing the TDS Certificate for tax deducted u/s 194-IB in May 2023	15th July 2023
5.	The due date for furnishing the TDS Certificate for tax deducted u/s 194M in the month of May 2023	15th July 2023
6.	The deadline for issuing the TDS Certificate for tax deducted under section 194S in the month of May 2023 is the due date. Please note that this applies to specified persons as mentioned under section 194S.	15th July 2023
7.	Authorized dealers must submit a quarterly statement, in the form of Form No. 15CC, regarding foreign remittances for the quarter ending June 2023.	15th July 2023
8.	Quarterly statement of TCS deposited for the quarter ending 30 June 2023	15th July 2023
9.	Please upload the declarations received from recipients in Form No. 15G/15H for the quarter ending June 2023.	15th July 2023
10.	The stock exchange is required to provide a statement in Form No. 3BB for transactions where client codes have been modified after registration in the system. The due date for furnishing this statement is for the month of June 2023.	30th July 2023
11.	The due date for providing the challan-cum-statement for tax deducted u/s 194-IA in June 2023 is approaching.	30th July 2023
12.	The due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of June 2023	30th July 2023
13.	The due date for submitting the challan-cum-statement for tax deducted u/s 194M in the month of June 2023 is approaching.	30th July 2023
14.	The deadline for submitting the challan-cum-statement for tax deducted under section 194S in the month of June 2023 is the due date. Please note that this applies to specified persons as mentioned under section 194S.	30th July 2023
15.	A statement of Tax Deducted at Source (TDS) deposited for the quarter ending June 30, 2023, needs to be provided on a quarterly basis.	31st July 2023
16.	The income tax return for the assessment year 2023-24 should be filed by all taxpayers, excluding: (a) Corporations (b) Non-corporate individuals whose accounts need to be audited (c) Partners of audited firms or their spouses (if section 5A provisions apply) (d) Assesses who must submit a report under section 92E.	31st July 2023
17.	The banking company is obligated to submit a quarterly return indicating non-deduction of tax at source from interest on time deposits for the quarter ending on June 30, 2023.	31st July 2023
18.	If the due date for the submission of the income tax return is July 31, 2023, the scientific research association, university, college, or other association, as well as Indian scientific research companies, are required to provide a statement in accordance with rules 5D, 5E, and 5F.	31st July 2023
19.	The pension fund must provide an intimation using Form 10BBB for each investment made in India during the quarter ending June 2023.	31st July 2023
20.	The Sovereign Wealth Fund is required to submit Form II notification regarding investments made in India for the quarter ending June 2023.	31st July 2023

The following due dates have been determined by the Income Tax Department based on a predefined calendar. Any further deadlines will be announced subsequently, in accordance with relevant Income Tax notifications.

Also Read: Changes in Income Tax Return Forms for FY 2022-23 (AY2023-24) impacting ITR filing: 3 key updates

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Note-All the aforementioned information in the article is taken from authentic resources and has been published after moderation. Any change in the information other than fact must be believed as a human error. For queries mail us at marketing@myitronline.com

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Krishna Gopal Varshney

An editor at Myitronlinenews

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