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January 2, 2024
Compliance Calendar For The Month of January 2024
Introduction
As we embark on the journey of 2024, businesses and individuals must be prepared for the various compliance requirements and deadlines that the new year will bring. One of the key aspects of compliance is the filing of GST returns and Income Tax Returns (the issuance of TDS & TCS certificates). In this blog, we will provide an overview of these important deadlines in the compliance calendar for the month of January to ensure a smooth and compliant business operation.
Compliance Calendar for the Month of January 2024
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Important due dates for the GST Returns in the Month of January, 2024 |
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Due date |
Form to be filed |
Period |
Who should file? |
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10.01.2024 |
GSTR 7 |
December 2023 |
GSTR 7 is a return to be filed by the persons who is required to deduct TDS (Tax deducted at source) under GST. |
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10.01.2024 |
GSTR 8 |
December 2023 |
GSTR-8 is a return to be filed by the e-commerce operators who are required to deduct TCS (Tax collected at source) under GST. |
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11.01.2024 |
GSTR 1 |
December 2023 |
Taxpayers having an aggregate turnover of more than Rs. 1.50 Crores or opted to file Monthly Return. |
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13.01.2024 |
GSTR 1 (IFF) |
October- December 2023 |
GST return for the taxpayers who opted for the QRMP scheme (Optional). |
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13.01.2024 |
GSTR 5&5A |
December 2023 |
Non-Resident Taxpayers and ODIAR services provider |
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13.01.2024 |
GSTR 6 |
December 2023 |
Input Service Distributors |
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18.01.2024 |
CMP-08 |
October- December 2023 |
CMP 08 for October- December 2023 (Composition). |
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20.01.2024 |
GSTR 3B |
December 2023 |
The due date for GSTR-3B has an Annual Turnover of more than 5 Crores. |
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22.01.2024 |
GSTR 3B |
October- December 2023 |
GST return for the taxpayers of South India who opted for the QRMP scheme (Optional) |
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24.01.2024 |
GSTR 3B |
October- December 2023 |
GST return for the taxpayers of North India who opted for the QRMP scheme (Optional) |
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Important due dates for the Income Tax Compliance / PF / ESI in the Month of January, 2024 |
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07.01.2024 |
Challan No. ITNS-281 |
December 2023 |
Payment of TDS/TCS was deducted /collected in December 2023. |
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14.01.2024 |
TDS Certificate |
November 2023 |
The due date for issuing of TDS Certificate for tax deducted under Section 194IA in the month of November, 2023. |
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14.01.2024 |
TDS Certificate |
November2023 |
The due date for issuing of TDS Certificate for tax deducted under Section 194IB in the month of November, 2023. |
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14.01.2024 |
TDS Certificate |
November 2023 |
The due date for issuing of TDS Certificate for tax deducted under Section 194M in the month of November, 2023. |
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14.01.2024 |
TDS Certificate |
November 2023 |
The due date for issuing of TDS Certificate for tax deducted under section 194S (by specified person) in the month of November, 2023 |
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15.01.2024 |
Professional Tax |
December 2023 |
Professional Tax (PT) on salaries for the month of December, 2023 |
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15.01.2024 |
TCS Certificate |
October- December 2023 |
TCS Return from the month of October to December 2023 in Form 27EQ. |
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15.01.2024 |
Form 24G by Government officer |
December 2023 |
Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of December, 2023 has been paid without the production of a challan. |
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15.01.2024 |
PF & ESI Payment |
December 2023 |
Provident Fund & ESI Returns for the month of December, 2023. |
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15.01.2024 |
Form 15CC |
December 2023 |
Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for the quarter ending December, 2023. |
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15.01.2024 |
Form 15G/15H |
December 2023 |
Due date for furnishing of Form 15G/15H declarations received during the quarter ending December, 2023. |
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15.01.2024 |
Form No. 49BA |
December 2023 |
Furnishing of statement in Form No. 49BA under Rule 114AAB (by specified fund) for the quarter ending December 31, 2023. |
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30.01.2024 |
TDS Challan-cum-statement |
December 2023 |
The due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA, 194IB, 194M. |
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30.01.2024 |
TDS Certificate |
December 2023 |
Due date for issuing of TDS Certificate for tax deducted under section 194S in the month of December, 2023. Note: Applicable in case of a specified person as mentioned under section 194S. |
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30.01.2024 |
TCS Certificate |
October-December 2023 |
Issue of TCS Certificates in Form 27D from October to December 2023. |
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30.01.2024 |
TDS Payment |
December 2023 |
TDS Payment for the month of December 2023 in Forms 26QB (Property), 26QC (Rent), and 26QD (Contractor Payments). |
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31.01.2024 |
TDS Return Payment |
October-December 2023 |
TDS Return Payment in Form 24Q,26Q,27Q from October to December 2023. |
Conclusion
The compliance calendar for January 2024 is important for taxpayers. It involves the filing of GST returns and the issuance of TDS & TCS certificates. Taxpayers must ensure timely compliance to avoid penalties. The due dates for the issue of TDS certificates for tax deducted under various sections are significant, such as sections 194-IA, 194-IB, 194M, and 194S of the Income Tax Act,1961. Additionally, the calendar includes important dates for GST challan payments, TDS/TCS payments, etc.
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