Top Stories November 15: Important Income Tax Forms to be furnished in 2 days Know about the Income Tax Forms to be furnished on 15-11-2024 By Saagarika Gopinath – On November 13, 2024 1:52 pm – 3 mins read In 2 days time, which is on this Friday, November 15th, the following forms have to be furnished. The assessees are advised to make sure that they file their Income Tax Returns ( ITR ) on time. Form 16A Quarterly TDS certificate It is to be noted that the deadline for Form 16A Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the quarter ending September 30, 2024, is on November 15th.
It is important to observe that while Form 16 deals with ‘ Income other than Salary,’ but Form 16A, which is also known as the TDS certificate, is generally applicable for tax deducted at source ( TDS ). People eligible for From 16 A include professionals and self-employed individuals. It is generally issued quarterly, but Form 16 is filed annually. From 16 is applicable to rent, professional charges, commission agents, hired machinery, etc. To download Form 16A online, the assessee can download the form from the TRACES website by using their user ID and password. Form 24G The due date for furnishing of Form 24G by an office of the government where TDS/TCS for the month of October 2024 is on this Friday.
Every month, all Accounts Officers (AOs) must file Form 24G for all deductions and collections, including TDS-Salary, TDS-Non-Salary, TDS-Non-Salary Non-Residents, and TCS, on a single form. This electronic document is required for all Accounts Officers who process bills created by the Drawing and Disbursing Officer. In the case of state government, the District Treasury Officer will be in charge of filing Form 24G. AOs processing TDS for salaried, non-salaried, or non-resident individuals complete Form 24G in accordance with particular instructions and the prescribed format. Understanding Common Mode of Tax Evasion with Practical Scenarios, Click Here For those who wish to download the file online, Form 24G is available for free download on the www.tin-nsdl.com website. Form 3BB
The due date for furnishing a statement in Form No. 3BB by a stock exchange in respect of transactions in which client codes have been modified after registering in the system for the month of October 2024 is 15-11-2-24. A stock exchange must furnish a monthly statement on income tax form 3BB for transactions in which client codes were changed after registering in the system for the month. Form 3BC The due date for furnishing statements in Form No. 3BC by a recognized association in respect of transactions in which client codes have been modified after registering in the system for the month of October 2024 is 15-11-20204. Understanding Common Mode of Tax Evasion with Practical Scenarios, Click Here In simple terms, Form 3BC is a monthly statement that must be provided by a registered association for transactions in which client codes have been changed after registration in the system.
Thus, to keep track of any modifications to client codes, Form No. 3BC Rule 6DDC is necessary, as it guarantees that every change is accurately recorded, which is essential for internal audits as well as regulatory compliance. It is specially advised to the taxpayers to make sure that they file the above-mentioned 4 income tax forms on time. Always review each document carefully to avoid last-minute issues. It is always advised to consult a certified accountant for greater satisfaction. They will definitely assist in making sure your forms comply with tax regulations and that you are utilizing all available exemptions and deductions. It is interesting to note that certain forms require the certification of a registered accountant.
Being a responsible citizen of this county, we highly recommend the assesses to file their ITR on time, as it is our primary duty. Understanding Common Mode of Tax Evasion with Practical Scenarios, Click Here Filing ITR shows the assessee’s commitment to the nation’s financial system and contributes to the economic development of the country. By submitting your ITR on time, you are fulfilling your basic duty as a citizen of India. Also, timely filing allows you to avoid penalties and fines that may result from delays. These additional fees might become costly, affecting your finances and credit score. Making sure your taxes are submitted on time as it will help you avoid extra worry and problems, giving you peace of mind and keeping you in good legal position