This article highlights key deadlines for Income Tax and MCA (Ministry of Company Affairs)/ROC (Registrar of Companies) compliances falling due on May 30th and 31st, 2024.
Income Tax Deadlines (May 30th, 2024):
- Furnishing Challan-cum-Statement for TDS: Submit challan-cum-statements for TDS deducted under sections 194IA, 194IB, 194M, and 194S (by specified person) for April 2024.
- Issue of TCS Certificates: Issue TCS certificates for tax collected at source during the fourth quarter of FY 2023-24.
Income Tax Deadlines (May 31st, 2024):
- Quarterly TDS Statement (Q4 FY 2023-24): File the quarterly statement of TDS deposited for the quarter ending March 31, 2024.
- Return of Tax Deduction from Superannuation Fund: Submit the return of tax deducted from contributions paid by the trustees of an approved superannuation fund.
- Statement of Financial Transactions (Form 61A): Furnish the statement of financial transactions for FY 2023-24 as required under section 285BA(1) of the Income Tax Act.
- E-filing of Annual Statement (Form 61B): Reporting financial institutions must e-file the annual statement of reportable accounts for calendar year 2023 by this date.
- Link Aadhar with PAN: Link your Aadhaar with PAN to avoid higher TDS/TCS rates on transactions up to March 31, 2024. Link Aadhar with PAN and make the PAN operative to have normal TDS /TCS rates (instead of higher) for transactions upto 31″ March 2024
- PAN Allotment Applications: Apply for PAN allotment if you:
- Are a non-individual resident exceeding Rs. 2,50,000 in financial transactions during FY 2023-24 without a PAN.
- Are a managing director, director, partner, etc., of a person specified in Rule 114(3)(v) and don’t have a PAN.
- Income Deferral Option (Form 9A): If you are required to file your income tax return by July 31, 2024, you can exercise the option to defer income from the previous year to the next year or future years using Form 9A.
- Income Accumulation Statement (Form 10): Submit Form 10 to accumulate income for future application under section 10(21) or section 11(1), if applicable. (For those filing returns by July 31, 2024)
- Donation Statement (Form 10BD): Reporting persons must furnish a statement of donations for FY 2023-24 in Form 10BD under section 80G(5)(iii) or section 35(1A)(i).
- Donation Certificate (Form 10BE): Issue Form 10BE to donors specifying the amount of donation received during FY 2023-24 (as per section 80G(5)(ix) or section 35(1A)(ii)).
Important Note: The income tax return filing deadline is July 31st, 2024 for non-audit cases and October 31st, 2024 for cases requiring an audit.
MCA/ROC Compliances (May 30th, 2024):
- LLP Annual Return (Form 11): Limited Liability Partnerships (LLPs) must file their annual return for FY 2023-24 using Form 11.
- Foreign Company Annual Return (Form FC-4): Foreign companies with branch or liaison offices in India must submit their annual return for FY 2023-24 using Form FC-4.
Additional Information:
- File reconciliation of Share Capital Audit Report (Form PAS-06) for the period October 2023 to March 2024, though an extension for certain forms has been granted by MCA until July 1st, 2024.
Also Read: Date Extended by MCA for these Forms till 1 July 2024
Stay informed and compliant!
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