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Due Dates in May 2023 for TDS, TCS & Income Tax Challan

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By Arpit Kulshrestha
Income Tax Challan, TDS, & TCS Due Dates in May 2023

Keeping aware of the key dates regarding taxation is important for taxpayers. It can save them from unnecessary penalties, help them manage their finances, file their returns on time, and stay updated with any changes in tax laws and regulations. By keeping the due dates of tax payments like advance tax payments and self-assessment tax payments, taxpayers can plan their finances accordingly and avoid any legal or financial issues.

Filing tax returns on time also helps taxpayers in saving money from interest charges. Moreover, keeping aware of the update with any amendments in tax laws and regulations is necessary to satisfy tax laws and provisions constructively. Keeping the key dates in mind related to tax can assist taxpayers to stay compliant with the tax laws, avoid hefty penalties and other charges, and maintaining finances effectively.

Important Tax Due Dates in May 2023

Following the tax calendar provided by the official website of the Income Tax Department, below are the important dates for the May month-

7th May 2023

The due for submitting Tax deducted/collected for the month of April 2023 is May 07, 2023. But all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan.

15th May 2023

Under section 194-IA, the due date for generating a TDS certificate for tax deducted is May 15, 2023, in the month of March 2023.

15th May 2023

Under section 194-IB, the due date for generating a TDS certificate for tax deducted is May 15, 2023, in the month of March 2023.

15th May 2023

Under section 194M, the due date for generating a TDS certificate for tax deducted is May 15, 2023, in the month of March 2023.

15th May 2023

Under section 194S, the due date for generating TDS certificates for tax deducted is May 15, 2023, in the month of March 2023.

Note: Relevant in the case of the stated person as referred under section 194S.

Read also: Due Dates for E-Filing of TDS & TCS Returns for FY 2022-23

15th May 2023

The due date is May 15, 2023, and the furnishing of Form 24G by any government office where TDS/TCS for the month of April 2023 has been paid without the production of a challan.

15th May 2023

TCS's quarterly report for the quarter ending March 31, 2023, was deposited.

15th May 2023

The due date for stock exchanges to submit Form No. 3BB statements about transactions involving altered client codes following system registration for the month of April 2023 is May 15, 2023.

30th May 2023

submission of a statement (in Form No. 49C) for the fiscal year 2022–2023 by a non-resident with a liaison office in India.

30th May 2023

The due date for submitting the challan-cum-statement of tax for the month of April 2023 which was deducted under section 194-IA is May 30, 2023.

30th May 2023

The April 2023 deadline for submitting challan-cum-statements related to tax deductions under section 194 M is May 30, 2023.

30th May 2023

The date by which the challan-cum-statement about the tax deduction under section 194-IB is May 30, 2023, and it must be provided in the month of April 2023.

30th May 2023

The April 2023 due date for submitting challan-cum-statements related to tax deductions under section 194S is May 30, 2023.

Note: Applicable in the event of the named individual as mentioned in Section 194S.

30th May 2023

Creating TCS certificates for the fourth quarter of the 2022–23 fiscal year.

31st May 2023

For the quarter ending March 31, 2023, the quarterly statement of TDS deposited.

31st May 2023

Tax deduction return from the trustee's contribution to the approved superannuation fund.

31st May 2023

​The due date for filing the statement of financial transaction (in Form No. 61A) as needed to be filed under sub-section (1) of section 285BA of the Act with respect to the financial year 2022-23

31st May 2023

The last date for e-filing of the yearly statement of the reportable accounts as needed to get filed under section 285BA(1)(k) (in Form No. 61B) for the calendar year 2022 by reporting financial institutions.

31st May 2023

​Application for allotment of PAN in case of the non-individual resident individual, which enters into a financial transaction of Rs. 2,50,000 or more in the FY 2022-23 and does not been allotted any PAN

31st May 2023

PAN allotment application for the case of the individual being the 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 doesn't allot any PAN​

31st May 2023

Application in Form 9A to exercise the option provided by Explanation to Section 11(1) to use income from the previous year in the subsequent year or in the future (where the taxpayer is obliged to file an income tax return on or before July 31, 2023).

31st May 2023

​Statement in Form No. 10 to be filed to collect income for future application under section 10(21) or section 11(1) (if the taxpayer would need to submit an income return on or before July 31, 2023)​

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