Deadlines for December 2024 Compliance: An All-Inclusive Guide to Income Tax and GST
Businesses and taxpayers need to be on the lookout for important income tax and GST compliance deadlines in December 2024 as the year draws to a close. Financial stability may be impacted by penalties and interest for missing deadlines. To help you stay organized and avoid penalties, this blog offers a comprehensive chart of all significant compliance dates.
As the year draws to a close, businesses and taxpayers must remain informed about the many Income Tax and Goods and Services Tax (GST) compliance deadlines for December 2024. Missing certain dates can lead to penalties and interest, impacting financial stability. To help you stay on track, this guide lists the crucial compliance dates for December 2024.
December 2024 Compliance Deadlines: Income Tax & GST
| Compliance Type | Description | Due Date | Applicable To |
|---|---|---|---|
| TDS/TCS Deposit | Deposit of Tax Deducted or Collected at Source for November 2024. | 7th December 2024 | All entities required to deduct/collect TDS/TCS. |
| GSTR-7 Filing | Filing of GST TDS return for November 2024. | 10th December 2024 | GST deductors. |
| GSTR-8 Filing | Filing of GST TCS return for November 2024. | 10th December 2024 | E-commerce operators. |
| GSTR-1 Filing | Filing of monthly GST outward supplies return for November 2024. | 11th December 2024 | Monthly GST taxpayers. |
| GSTR-3B Filing (Monthly) | Filing of GST summary return and payment of tax for November 2024. | 20th December 2024 | Monthly GST taxpayers. |
| GSTR-3B Filing (Quarterly - IFF) | Quarterly filers using Invoice Furnishing Facility (IFF) for outward supplies in November 2024. | 13th December 2024 | Small GST taxpayers under QRMP scheme. |
| CMP-08 Filing | Filing of quarterly GST statement-cum-challan for composition scheme taxpayers. | 18th December 2024 | Composition scheme taxpayers. |
| Advance Tax (3rd Installment) | Payment of 3rd installment (75%) of advance tax for FY 2023–24. | 15th December 2024 | All taxpayers with tax liability over ₹10,000. |
| ITR Filing (Revised/Belated) | Filing of revised or belated Income Tax Returns for FY 2023–24. | 31st December 2024 | Taxpayers who missed or revised original ITRs. |
Key Notes
- Timely Compliance: Ensure compliance with these deadlines to avoid penalties and interest under the relevant acts.
- Technology Use: Utilize online portals (Income Tax e-filing and GSTN) for seamless submission.
- Professional Help: Seek assistance from tax consultants or chartered accountants if needed.
Stay informed and compliant to secure your financial stability as the year ends.
FILING YOUR INCOME TAX RETURN F.Y 2023-24 (A.Y. 2024-2025) WITH MYITRONLINE
Income tax filing deadline is right around the corner. If you haven’t filed yet, do it now for FREE on Myitronline! Avoid last minute rush and file your tax return today on MYITRONLINE in Just 5 mins.(www.myitronline.com)
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Note-All the aforementioned information in the article is taken from authentic resources and has been published after moderation. Any change in the information other than fact must be believed as a human error. For queries mail us at marketing@myitronline.com
Krishna Gopal Varshney
An editor at apnokacaKrishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.
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Krishna Gopal Varshney
An editor at Myitronline
Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.
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