As the new year begins, it’s crucial to stay updated on important tax deadlines to effectively manage your finances and avoid penalties. The Income Tax Department has released its calendar for the first quarter of 2025, covering key tax-related tasks for January, February, and March. This calendar will help you plan your tax savings and fulfill your tax liabilities with ease. Here’s an overview of the Income Tax Calendar 2025 for the first three months:
January 2025
- 14th January
Last date to issue the TDS certificate for tax deducted under Section 194-IA in November 2024.
- 15th January
Deadline for submitting Form 24G by government offices.
Last date to submit the quarterly statement of TCS for the quarter ending December 31, 2024.
Deadline for submitting the quarterly statement of foreign remittances in Form No. 15CC for the quarter ending December 2024.
- 30th January
Deadline for furnishing challan-cum-statement for tax deducted under Section 194S (by specified persons) in December 2024.
- 31st January
Reporting deadline for Sovereign Wealth Funds for investments made in India during the quarter ending December 2024.
February 2025
- 7th February
Last date to deposit tax deducted in January 2025.
- 14th February
Deadline to issue the TDS certificate for tax deducted under Section 194-IA in December 2024.
- 15th February
Deadline for submitting Form 24G by government offices.
Last date for submitting the quarterly TDS certificate for the quarter ending December 31, 2024.
March 2025
- 2nd March
Deadline for depositing challans for taxes deducted under Sections 194-IA and 194-IB in January 2025.
- 7th March
Last date to deposit tax deducted or collected in February 2025.
- 15th March
Deadline for depositing the fourth installment of advance tax for Assessment Year 2025–26.
Last date for full payment of advance tax under the presumptive taxation scheme (Section 44AD/44ADA).
Deadline for furnishing Form 24G for February 2025 without submitting a challan.
- 17th March
Deadline for issuing TDS certificates for taxes deducted in January 2025 under Sections 194-IA, 194-IB, and 194S.
- 30th March
Deadline for furnishing challan-cum-statements for taxes deducted under Sections 194-IA and 194-IB in February 2025.
- 31st March
Last date to file updated returns for Assessment Year 2022–23.
Deadline for reporting foreign income and taxes for claiming foreign tax credit for the previous year.
Final date to make tax-saving investments for the financial year ending March 31, 2025.
Why Is a Tax Calendar Important?
A tax calendar simplifies financial planning and ensures timely compliance with tax obligations. By following the key dates, you can avoid penalties, save taxes effectively, and maintain financial discipline throughout the year. Stay organized and make the most of your tax-saving opportunities in 2025!
