The month of March is here, and with it, the end of the financial year 2024-25 (FY25) is approaching. As the month wraps up, so do the deadlines for various tax-related obligations, including TDS payments, ITR filings, and others. To avoid any last-minute technical glitches and potential penalties, it's crucial to ensure timely compliance with all tax requirements.
For a smoother experience, taxpayers can stay organised by keeping track of important tax deadlines on the calendar. This simple step helps you manage tax payments efficiently, meet obligations on time, and avoid last-minute hassles.
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March is full of important tax deadlines. Take a look at the upcoming deadlines during the month.
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Upcoming Tax Deadlines In March 2025
March 15: Advance Tax & Form 24G
Taxpayers are required to pay the fourth and final installment of the advance tax for the assessment year 2025-26 by this date. Those under the presumptive taxation scheme (Section 44AD/44ADA) must pay their entire advance tax liability for the year by Mar. 15.
Further, government offices that deducted TCS/TDS in February without a challan must submit Form 24G by this deadline.
March 17: TDS Certificate
This is the last day to issue TDS certificates for January 2025 for taxes deducted under Sections 194-IA, 194-IB, and 194S.
March 30: Challan-Cum-Statement for February
Tax deducted under Sections 194-IA, 194-IB, 194M and 194S for February 2025 has to be reported through the challan-cum-statement by this date.
March 31: Form 3CEAD, Form 67 & Updated ITR for AY 2022-23
Form 3CEAD: Multinational organisations are required to file their Country-By-Country Report for 2023-24 by the end of this month. The report has to be submitted by the parent entity or an alternate reporting entity in India. If the parent entity is exempt from filing under Section 286(2) or is based in a country without an exchange agreement with India, the constituent entity can submit it instead.
Form 67: Taxpayers claiming a foreign tax credit for 2022-23 have to submit this form by March 31 in case their income tax return was filed within the timelines under Section 139(1) or 139(4).
Updated Income Tax Return (ITR): March 31 is also the last date to file an updated return for the assessment year 2022-23.
With these deadlines approaching, taxpayers should ensure timely compliance to avoid penalties.
Past Deadlines In March 2025
March 2: Challan-Cum-Statement for January
The window to submit challan-cum-statement for tax deducted under Sections 194-IA, 194-IB, 194M, and 194S for January 2025 closed on Mar. 2.
March 7: Deposit of TDS & TCS
This is the deadline for depositing Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) for February 2025. Government offices that deducted or collected tax without a challan must also remit the tax by this date.
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