India’s tax system is structured with multiple deadlines throughout the fiscal year, which runs from April 1 to March 31. Adhering to these deadlines is crucial for both individuals and businesses to remain compliant with the Income Tax Department’s regulations, manage their finances efficiently, and optimize their tax liabilities.
Staying updated with the tax calendar helps taxpayers fulfill their legal obligations, avoid penalties, and mitigate any potential legal issues. Moreover, it aids in better financial planning and budgeting, ensuring that adequate funds are allocated for timely tax payments.
Being aware of these key dates allows taxpayers to plan effectively and take full advantage of available deductions, exemptions, and other tax benefits.
Here are the important tax deadlines for September 2024 as per the Income Tax Department:
For non-government deductors, this is the deadline to deposit TDS/TCS. Government offices must deposit the tax to the central government on the same day the tax is paid, without the production of an Income-tax Challan.
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