Key Compliance Deadlines for October 2024 What’s Critical to Know

It is important for both individuals and businesses to monitor important compliance dates in October to
ensure that there are no fines and that everything goes as planned. These are some important dates for
October 2024 income tax and goods and services tax (GST) compliance.

1. Major Income Tax Compliance Dates

• 1.1 October 7, 2024
  Due Date for Tax Deducted at Source (TDS) Deposits:
  • Deposit for TDS deducted in September 2024.
  • Quarterly deposit for TDS under sections 192, 194A, 194D, or 194H, if permitted by the Assessing
    Officer.
• 1.2 7th October, 2024 Audit Report:
  • Submit the audit report under Section 44AB for Assessment Year 2024-25 for both corporate and
    non-corporate assessees.
  • Form 10B/10BB for specified institutions to be furnished on this date.
• 1.3 15th October, 2024
  • TDS Certificates Notified under section 203
  • Issue TDS certificates for tax deducted under sections 194-IB, 194-IA, 194M, and 194S for August
    2024.
• 1.4 October 30, 2024
  • Challan-cum-Statements:
    Give challan-cum-statements for tax deducted under sections 194-IA, 194-IB, 194M and 194S for
    September 2024.
  • Quarterly TCS Certificate:
    Submit the quarterly TCS certificate for the quarter ending September 30, 2024.
• 1.5 October 31, 2024:
  • Filing of Income Tax Returns:
    • Corporate assessees.
    • Non-corporate assessees whose accounts require audit.
    • Inter-connected enterprises/parents and their subsidiaries, etc., with audited accounts,
      inter alia.
  • Various Reports:
    • Audit reports in respect of international or specified domestic transactions.
    • Form 3CEB reports on international transactions.
    • Pension funds and sovereign wealth funds to intimate investments made in India for the
      quarter ending September 2024

2. GST Compliance Dates:

• 2.1 11 October 2024
  • GSTR-1 Filing: Monthly return for registered taxpayers with aggregate turnover
    exceeding ₹5 crores.
• 2.2 13 October 2024
  • GSTR-6 Filing:
    Input Service Distributors (ISD) return.
• 2.3 October 20, 2024
  • GSTR-3B Filing (turnover > ₹5 crores):
    Due date for the monthly return for September 2024 for taxpayers with aggregate turnover
    exceeding ₹5 crores.
• 2.4 October 22, 2024
  • GSTR-3B Filing (Group A States):
    Due date for taxpayers with aggregate turnover up to ₹5 crores who opted for quarterly filing.
• 2.5 October 24, 2024
  • GSTR-3B Filing (Group B States):
    Due date for taxpayers with aggregate turnover up to ₹5 crores who opted for quarterly filing.
• 2.6 October 25, 2024
  • GST Payment:
    Last date for payment of GST for taxpayers with aggregate turnover up to ₹5 crores opting for
    quarterly filing.
• 2.7 October 28, 2024
  • GSTR-11 Filing:
    Statement of inward supplies for Unique Identity Number (UIN) holders.
• 2.8 October 30, 2024
  • GST Refund Claims:
    Submission of refund claims for tax paid on inward supplies.

3. How can Plutus’s VCFO services help you?

Our VCFO services can improve your financial decision-making and assist you in achieving your corporate goals. We offer the financial insights you need to promote long-term success and growth, together with professional assistance in budgeting, cash flow management, and compliance.

To ensure that your company stays fully compliant with regulatory standards, our staff oversees the compliance process and keeps an eye on all relevant dates.

4. Conclusion:

Indeed, October has a lot of compliance dates. Being well-organized and aware of the dates can help you stay out of trouble and, as a result, streamline your financial procedures. Document preparation and advance planning are essential. A requirement that will increase the efficiency and legal foundation of your company is a compliance check-up. On your calendar, note these significant dates. This month, be sure to adhere to the compliance dates.

To know more about our detailed plans please get in touch with us.
https://plutusco.com/