By Admin 
4 Deadlines In December: The month of December has started. Being the last month of the year, there are many important tasks that need to be completed this month. That is why it becomes the most useful month for taxpayers. ITR, TDS, advance tax and many other important filings take place in this month. Missing a date brings problems like penalty, interest and late refund.
Therefore, it would be a mistake to take the December deadline lightly. There are four important deadlines looming this December also. Missing them can be heavy on your pocket. Let us tell you about those four top deadlines of this month, if you miss them, you may face problems.
10th December is the most important day for those with audited accounts.
If your business comes under the scope of audit or you are a partner of a firm which is audited. So 10th December is an important date for you. Earlier this deadline was 31 October. But it has been extended to December 10. So that there can be some time to file ITR after audit. Husband and wife covered under Section 5A are also included on this date.
This is the last chance for assessment year 2025-26. Missing this can lead to problems like penalty, interest and notice in future. If the audit report is ready, it is best to file ITR on the same day. Because if there is delay, fine may have to be paid and further filing may also be stopped.
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Form, TDS and advance tax till 15th December
Many tax duties fall simultaneously on 15th December. Therefore it is considered to be the busiest day of the tax calendar. Form 27C for the month of November has to be uploaded on this day. Government departments are required to report unchallaned TDS or TCS for November through Form 24G. The third installment of advance tax has to be deposited on this day. Which applies to all individuals, professionals and businesses.
Certificates of TDS deducted in October are also to be issued on this day. Which come under 194IA, 194IB, 194M and 194S. Along with this, stock exchanges have to upload Form 3BB related to client code change. As soon as you miss this date, many things start going wrong like a chain. Therefore, it is important to mark it in the calendar in advance.
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TDS and Client Code Statement till 30th December
30th December is also not a light day. Recognized associations have to submit the Client Code Modification Statement for the month of November on this day. Many times, due to delay in this work, the compliance record gets spoiled. It is necessary to submit the challan-cum-statement for TDS of November on this date. So that the entire month can be updated in the system. Leaving this aside can lead to problems like payment errors, credit not appearing or certificate being issued late.
31st December is the last but most important cutoff
The last day of the year is most important in another sense. This is the last date to submit billed or updated ITR for assessment year 2025-26. You can file this return only if the Income Tax Department has not already completed your assessment. If you miss this date, there is no option left except appeal and you may have to face long delay in penalty, interest and refund. Before the end of the year, check whether your filing status is complete or not.
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