July 2024: Important deadlines to note as per income tax calendar next month

Income Tax Return: July 2024 is a crucial month as the deadline to file the income returns falls this month. Besides this deadline, there are a couple of more critical deadlines set by the Income Tax Department. These are related to  tax deductions, certificates issuance, and quarterly statements. 

July 7 (Sunday)

July 7 is the due date to deposit of tax deducted or collected for the month of June 2024. Government offices must transfer all deducted or collected sums to the Central Government on the same day without requiring an Income-tax Challan.

TDS Deposit (Quarterly Option): July 7 also the due date for taxpayers permitted quarterly deposit of TDS under sections 192, 194A, 194D, or 194H for the period April 2024 to June 2024.

July 15 (Monday)

TDS certificate issuance for these categories: 

> TDS certificates under section 194-IA for May 2024.

> TDS certificates under section 194-IB for May 2024.

> TDS certificates under section 194M for May 2024.

> TDS certificates under section 194S (by specified person) for May 2024.

Quarterly statements:

> Quarterly statement in Form No. 15CC by authorised dealers for foreign remittances for the quarter ending June 2024.

> Quarterly statement of TCS deposited for the quarter ending June 30, 2024.

> Upload of declarations: Declarations received from recipients in Form No. 15G/15H during the quarter ending June 2024 must be uploaded.

July 30 (Tuesday)

Challan-cum-Statement (TDS)

Furnishing of challan and statement for tax deducted under section 194-IA for June 2024.

Furnishing of challan and statement for tax  deducted under section 194-IB for June 2024.

Furnishing of challan and statement for tax  deducted under section 194M for June 2024.

Furnishing of challan and statement for tax deducted under section 194S (by specified person) for June 2024.

July 31 (Wednesday)

Income Tax Returns: The income tax return for the assessment year 2024-25 must be filed by all assesses, except for corporate assesses, non-corporate assesses with audited accounts, partners of audited firms, and individuals specified under section 92E.

Quarterly Statements: Quarterly statement of TDS deposited for the quarter ending June 30, 2024.

Other Returns and Statements:

Quarterly return of non-deduction of tax at source by banking companies from interest on time deposits for the quarter ending June 30, 2024.

Statements required from scientific research associations, universities, colleges, or Indian scientific research companies if the income tax return due date is July 31, 2024.

Intimation in Form 10BBB by pension funds and Form II by Sovereign Wealth Funds for investments made in India for the quarter ending June 2024.