Income Tax due dates for Payment and filing in FY 2017-18 (AY 2018-19) for income tax, advance tax, self assessment tax

Latest Update on due dates

CBDT extends the due date for filing of Income Tax Returns for FY 2018-19 (AY 2019-20) from 31st July 2020 to 30th September 2020 as per the Notification No. 56/2020-Income Tax dated 29th July 2020.

You can find the official notification here.

Latest amendments on account of Covid-19

Interest on late payment of TDS/TCS/SAT/Advance tax

As per Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020,
For delayed payments of advanced tax, self-assessment tax, regular tax, TDS, TCS made between 20th March 2020 and 30th June 2020, the reduced interest rate at 9% instead of 12%, /18% per annum (i.e. 0.75% per month instead of 1/1.5 percent per month) will be charged for this period. No late fee/penalty shall be charged for delay relating to this period.

In this post, we will be talking about Income Tax due dates. We will see both payment due dates and filing due dates. The various taxes we will be discussing are income tax, advance tax, and self-assessment tax.

If you are looking for TDS due dates, visit our Saral TDS site – TDS due dates.

Latest Update

  1. IT returns for FY 2018-19 extended to 30th June 2020 and the interest is 9%
  2. Aadhaar-PAN linking date to be extended from 31st March 2020 to 30th June 2020.
  3. Vivad se Vishwas scheme (VAVS) extended from 31st March 2020 to 30th June 2020 no additional amount 10%
  4. Appeals, intimation, investments of capital gains, 80C investments, etc due dates extended to 30th June 2020.
  5. From FY 2017-19, late filing penalty will be applicable under Section 234F.

Income tax payment due dates:

The due date for Payment of Income Tax for FY 2019-20 (AY 2020-21)

The due date for Payment of Income Tax is 31st March of the Financial Year. i.e., for the financial year 2019-20, the payment due date is 31st March 2020.

Due Dates for Payment of Advance Taxes for FY 2019-20 (AY 2020-21)

The below due date for online payment of advance tax is applicable for both individual and corporate taxpayers.

Due date Advance Tax payable
On or Before 15th June 15% of Advance Tax
On or before 15th September 45% of Advance Tax
On or Before 15th December 75% of Advance Tax
On or Before 15th March 100% of Advance Tax

Due Dates for Advance Tax Payment - FY 2019-20

Due Dates for Self Assessment Tax for FY 2019-20 (AY 2020-21)

Self Assessment Tax online payment should be on or before the date of filing the return.

Income Tax filing due dates

Please note that the below due dates are applicable for AY 2020-21 or FY 2019-20.

All corporate Assessees whose accounts need to be audited u/s 44AB before 30 September 2020. Also, working partners of partnership firms whose books of accounts are audited should be done by 30 September 2020. All Assessees who are required to furnish a report u/s 92E (transfer pricing).

Due Date Tax Due
15th June 2019 Due date for the First installment of Advance Tax for the FY 2019-20
31st July 2020 Due date for filing an Income tax return for FY 2019-20 for all persons except :

i. Companies

ii. Non-Companies whose books are required to be audited

iii. Working partner of a firm whose accounts are required to be audited

15th September 2019 Due date for the Second installment of Advance Tax for the FY 2019-20
15th December 2019 The Due date for the third installment of Advance Tax for the FY 2019-20
15th March 2020 i. The fourth installment of Advance Tax due for the FY 2019-20

ii. The due date for the whole amount of Advance Tax for FY 2019-20 for taxpayers covered under the presumptive scheme of Section  44AD and 44ADA

30th Sept 2020 Due date for filing of  Audit report/Income tax return for the FY 2019-20 for the following:

i. companies

ii. Non-Companies Whose books are required to be audited

30th November 2020 i. The due date for filing Audit report for the FY 2019-20 in case of a person who is required to submit a report pertaining to international or specified domestic transactions under section 92E

ii. The due date for the report to be furnished in Form 3CEB in respect of international and specified domestic transactions

iii.The due date for filing of Income-tax Return for FY 2018-19 for the aforesaid taxpayers