June 2024 Income Tax Deadlines: Key Dates to Remember

Income Tax Deadlines

India’s tax system includes a series of deadlines throughout the fiscal year (April 1 to March 31) for various tax-related activities. The Income Tax Department’s calendar is essential for compliance, financial management, and optimizing tax liabilities.

Following the tax calendar helps individuals and businesses meet legal requirements, avoiding penalties and legal issues. Being aware of tax deadlines supports effective financial planning and budgeting, ensuring funds are available for tax payments.

Understanding key dates also allows taxpayers to plan effectively and maximize deductions, exemptions, and other tax benefits.

Here are the key tax deadlines for June 2024 according to the Income Tax Department:

June 7, 2024

The due date for the deposit of tax deducted/collected for May 2024. However, all sums deducted/collected by an office of the government shall be paid to the credit of the central government on the same day when tax is paid without the production of an income-tax challan

June 14, 2024

The deadline for releasing the TDS certificate for taxes withheld (by designated person) under sections 194-IA, 194-IB, 194M, and 194S is April 20, 2024.

June 15, 2024

1. The deadline for government offices to file Form 24G in cases where TDS/TCS for May 2024 has been paid without a challan being produced is approaching.

2. For the quarter ending in March 2024, quarterly TDS certificates (pertaining to tax deducted for payments other than salary) will be provided.

3. Employee certificate of tax withheld at source for salary received and tax withheld during Financial Year 2023–2024

4. Deadline for stock exchanges to provide statements in form no. 3BB regarding transactions where client codes were changed after registration in the system for the month of May 2024

5. Providing the unit bearer with a statement (in form No. 64D) detailing the revenue paid or credited by the investment fund for the preceding year 2023–24

June 29, 2024

The deadline for a qualified investment fund to electronically file a statement (in form no. 3CEK) regarding its operations for the 2023–2024 fiscal year under section 9A

June 30, 2024

1. The deadline for submitting a challan-cum-statement by a designated person in May 2024 on taxes deducted under sections 194-IA, 194-IB, 194M, and 194S

2. Return about the securities transaction tax for the 2023–2024 fiscal year

3. Quarterly report of a banking company’s failure to  tax deducted at source from interest earned on time deposits for the quarter ending March 31, 2024

4. Statement on income granted to unitholders in the preceding year 2023–24 to be provided by Alternative Investment Fund (AIF) in form No. 64C

5. Date by which the business trust must provide the income statement that was given to the unit holders for the 2023–2024 fiscal year. The unit holders must receive this statement in form 64B.

6. The Equalization Levy statement for the fiscal year 2023–2024 is delivered.

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