Income tax planning can help you reduce your tax bills and increase your savings. Individuals should do many tax-related chores in November 2023 to guarantee comprehensive preparedness and prevent potential repercussions. The income tax agency has released a complete tax calendar on its website, highlighting the important due dates for the month.
Essential Tax Dates for November 2023
November 7
This is the deadline for submitting the tax deducted/collected for the month of October 2023. However, any sums deducted/collected by a government office must be remitted to the credit of the Central Government on the same day tax is paid, even if no income tax challan is produced.
November 14
It is the deadline to issue TDS certificates for taxes deducted under sections 194-IA, 194-IB, 194M, and 194S in the month of September 2023.
November 15
This is the deadline for filing a quarterly TDS certificate (for tax deducted on non-salary payments) for the fiscal quarter ending September 30, 2023. It is also the deadline for submitting Form 24G by a government agency when TDS/TCS for the month of October 2023 was paid without the submission of a challan.
Furthermore, taxpayers must provide a stock exchange with a declaration in Form 3BB for transactions in which client codes were amended after enrolling in the system for the month of October 2023.
November 30
This is the deadline for submitting challan-cum-statements for taxes deducted under sections 194-IA, 194-IB, 194M, and 194S in the month of October 2023.
If the assessee is obliged to make a report under section 92E related to foreign or specified domestic transaction(s), the return of income for the assessment year 2023-24 must be submitted by November 30. Statement of income distribution by Venture Capital Company or Venture Capital Fund for the preceding year 2022-23 (Form No. 64) must also be provided by this date.
Furthermore, by November 30, an Alternative Investment Fund (AIF) must provide a statement in Form 64D to the Principal CIT or CIT in respect of revenue distributed (during the preceding fiscal year 2022-23) to unit holders.
Furthermore, the deadline for exercising the option of safe harbour rules for international transactions by submitting Form 3CEFA and safe harbour rules for specified domestic transactions by submitting Form 3CEFB is November 30.​
