December 2024 Income Tax Deadlines: Know date for filing ITR, TDS, advance tax

As the year comes to a close, December is a crucial month for taxpayers to meet their financial and compliance obligations. With important deadlines for tax deductions, advance tax payments, and filing returns approaching, proactive planning is vital to avoid penalties and ensure smooth compliance. Whether you are an individual, a business owner, or part of a government office, this December 2024 tax calendar outlines key dates and responsibilities.

In December 2024, important deadlines for income tax filings in India are as follows:

Income Tax Return Filing Deadline: The Central Board of Direct Taxes (CBDT) has extended the deadline for filing income tax returns for the financial year 2023-24 (assessment year 2024-25) to December 15, 2024. This extension specifically applies to taxpayers who are required to furnish reports under Section 92E of the Income Tax Act, which pertains to international transactions.

Form 24G Submission: Government offices must submit Form 24G where TDS/TCS for November 2024 has been paid without a challan.

Third Instalment of Advance Tax: The deadline for the third instalment of advance tax for the assessment year 2025-26.

Issuance of TDS Certificates:

TDS certificates for tax deducted under Section 194-IA for October 2024 must be issued.
TDS certificates for tax deducted under Section 194-IB for October 2024 must be issued.
TDS certificates for tax deducted under Section 194M for October 2024 must be issued.
TDS certificates for tax deducted under Section 194S (by a specified person) for October 2024 must be issued.

Form No. 3BB Submission: Stock exchanges are required to submit the statement in Form No. 3BB regarding transactions with modified client codes registered in the system for November 2024.

General Filing Deadline: For most taxpayers, the original deadline for filing income tax returns was November 30, 2024. However, those who missed this date and are not subject to the special reporting requirements can still file a belated return by December 31, 2024.

Revised Returns: Taxpayers who need to file revised returns can do so until December 31, 2024.