Key Income Tax Deadlines to Remember in February 2024

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The Income Tax (I-T) department has released a detailed tax calendar on its official website, highlighting important due dates for the month of February 2024. Let’s take a closer look at some of the tax-related deadlines individuals should keep in mind:

February 7, 2024: This marks the due date for depositing tax deducted or collected at source (TDS/TCS) for January 2024. It’s essential to note that any sum collected or deducted by a government office must be paid to the Central government on the same day as the tax is paid, minus the submission of an income-tax challan.

February 14, 2024: This is the deadline for issuing tax deducted at source (TDS) certificates for tax deducted under Sections 194-IA, 194-IB, 194M, and 194S by a specified person in December 2023.

February 15, 2024: On this date, Form 24G must be submitted by government offices where TDS/TCS for January 2024 has been paid without the production of a challan. Form 24G contains all the information related to tax deducted at source (TDS), which is submitted to the Drawing and Disbursement Officer (DDO) for further processing. Additionally, the quarterly TDS certificate for tax deducted for payments other than salary for the quarter ending December 31, 2023, must be submitted by this date.

These deadlines are crucial for ensuring compliance with tax regulations and avoiding any penalties. Taxpayers should mark these dates on their calendars and make timely submissions to fulfill their tax obligations.
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