Income Tax Due Dates in May 2023: Check deadlines for this month's ITR filing

With the new changes in the Income Tax Act coming into effect from April 2023, it is time when people need to start worrying about tax deadlines that are due in May 2023 as the month is about to commence. A number of due dates related to taxation are lined up for the upcoming month and thus people need to know about these dates to stay in compliance with the tax laws and avoid any legal consequences or penalties. Speaking of which, the Income Tax Department on its official website has issued a tax calendar that states the important due dates for the month of May. Tax due dates For May 2023:

7 May

It is the due date for depositing the taxes that were deducted/collected for April 2023.

15 May

It is the due date for the issue of the TDS Certificate for tax deducted under sections 194-IA, 194-IB, 194M, and 194S in the month of March 2023.

It is also the due date for furnishing Form 24G by a government office where the TDS/TCS for the month of April 2023 has been paid without the production of a challan.

The quarterly statement of TCS is to be deposited on this date for the quarter ending on 31 March, 2023.  

It is the due date to furnish 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 April 2023.

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30 May

It is the due date of submission of a statement (in Form No. 49C) by a non-resident having a liaison office in India for the financial year 2022-23.  

​It is the due date for furnishing challan-cum-statement in respect of tax deducted under sections 194-IA, 194M, 194-IB, and 194S in the month of April 2023.  

It is due date to issue TCS certificates for the 4th Quarter of the Financial Year 2022-23

It is the due date to deposit the ​quarterly statement of TDS for the quarter ending 31 March 2023.

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31 May

It is the due date for returning tax deductions from contributions paid by the trustees of an approved superannuation fund.

​It is the due date for furnishing of statement of financial transaction (in Form No. 61A) as required to be furnished under sub-section (1) of section 285BA of the Act for FY 2023-24.  

It is the ​due date for the e-filing of the annual statement of reportable accounts as required to be furnished under section 285BA(1)(k) (in Form No. 61B) for the calendar year 2022 by reporting financial institutions.

It is the due date for ​applying for the allotment of PAN in case of a non-individual resident person or in case of a person being managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer of the person referred to in Rule 114(3)(v) or any person competent to act on behalf of the person referred to in Rule 114(3)(v) and who haven’t been allotted any PAN.  

31 May is the last date for applying in Form 9A for exercising the option available under Explanation to Section 11(1) to apply for the income of the previous year in the next year or in the future.  

It is the last date to furnish the statement in Form No. 10 to accumulate income for future application under section 10(21) or section 11(1).