CBDT Extends Due Dates for Furnishing of TDS/TCS Statements for 1st Quarter of FY 2023-24
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- Last Updated on 30 June, 2023
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Circular No. 9 of 2023, dated 28-06-2023
The Central Board of Direct Taxes (CBDT), exercising its powers under section 119, has extended the due dates for furnishing TDS and TCS statements.
The due date for furnishing the TDS statement for the first quarter (quarter ending June 30) of the Financial Year 2023-24 has been extended from July 31, 2023 to September 30, 2023.
It is to be noted that the date is extended only for the statements furnished in Form 26Q and Form 27Q. The benefit of the extended due date is not available for TDS Statement furnished in Form 24Q.
Further, the due date for furnishing the TCS statement in Form 27EQ for the first quarter (quarter ending June 30) of the Financial Year 2023-24 is extended from July 15, 2023, to September 30, 2023.
Click Here To Read The Full Circular
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last date for 1q for FY2023-24
24Q 31st July 2023 & 26Q 30th September 2023
tds filling 1st qtr fy 2023-24 due date
The due date for filing TDS statement in Form 26Q and Form 27Q for the quarter ending 30-06-2023 has been extended from July 31, 2023 to September 30, 2023.
Hi Sumant, The due date for filing the TDS/TCS statement in Form 26Q, Form 27Q, and Form 27EQ for the first quarter of the financial year 2023-24 is extended to September 30, 2023, vide Circular No. 09/2023, dated 28-06-2023. Consequently, the due date for furnishing the TDS/TCS certificate is also extended to October 15, 2023.
In case of “Future & option ” trading , how can I fetch my total turnover for Income Tax Purpose?
“The turnover in F&O transactions is to be determined as follows:
(a) In case of squared off transactions, total of favourable and unfavourable differences shall be taken as turnover.
(b) Premium received on the sale of options is also to be included in turnover. However, where the premium received is included for determining net profit for transactions, the same should not be separately included.
(c) In respect of any reverse trades entered, the difference thereon, should also form part of the turnover.
(d) In case of an open position as at the end of the financial year (i.e., trades which are not squared off during the same financial year), the turnover arising from the said transaction should be considered in the financial year when the transaction has been actually squared off.
(e) In case of delivery based settlement in a derivatives transaction, the difference between the trade price and the settlement price shall be considered as turnover. Further, in the hands of the transferor of underlying asset, the entire sale value shall also be considered as business turnover where the underlying asset is held as stock in trade.”
When will Form 26Q return start?
TDS DUE DATE FOR Q1 OF FY-23-24
The due date for filing TDS statement in Form 26Q and Form 27Q for the quarter ending 30-06-2023 has been extended from July 31, 2023 to September 30, 2023.