Due dates under Income Tax – Due dates for TDS/Filing of Return/Advance Payment of Tax

There are different due dates under income tax for payment of TDS/TCS/ filing of TDS/TCS return, for filing of income tax return, and for advance payment of tax.

1)      Payment of TDS/TCS – for every assessee who is required to deduct TDS/TCS under the provision of Income tax Act, 1961 has to pay amount of TDS/TCS to revenue department up to 7^th day of next month from the month of TDS/TCS belongs. But for the month of March due date for payment of TDS/TCS shall be 30^th of next month i.e. 30^th April.

2)      Quarterly filing of TDS/TCS Return – every assessee who deduct TDS/TCS under the provision of Income Tax Act, 1961 have to file their TDS/TCS Return on Quarterly Basis. i.e. up to the 15^th day of next month from the quarter of TDS/TCS belongs. But for the last quarter i.e. from Jan to March, due date shall be 15^th of May.

3)      Filing of Income Tax Return – due date for filing of return of income tax is 30/07 of every assessment year for all assessee except all corporate assessee and  those non corporate assessee whose books of accounts are required to be audited under Income Tax Act and partners of firm if firms covered under audit norms. For these assessee due date shall be 30/09 of every assessment year. But if it is submitted electronically then due date shall be 30/10 of assessment year.

4)      Filing of Tax Audit Report- due date for filing of tax audit report is 30/09 if it is filed manually but if audit report is filed electronically then the due date shall be 30/10 of every assessment year.

5)      Advance tax payment- there is a provision under income tax act, 1961 for advance payment of tax during the financial year. And due dates for advance payment is 15^th of June, 15^th September, 15^th December and 31^st march for companies. But for individual and non corporate assessee due dates of advance tax will be 15^th of September, 15^th December and 31^st march.

Summary of due dates under Income Tax for TDS/Filing of Return/Advance Payment of Tax