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.
Income tax Payment due dates:
Due date for Payment of Income Tax for FY 2018-19 (AY 2019-20)
The due date for Payment of Income Tax is 31st March of the Financial Year. i.e., for the financial year 2018-19, payment due date is 31st March 2019.
Due Dates for Payment of Advance Taxes for FY 2018-19 (AY 2019-20)
The below due date for 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 Self Assessment Tax for FY 2018-19 (AY 2019-20)
Self Assessment Tax 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 2019-20 or FY 2018-19.
All corporate Assessees whose accounts needs to be audited u/s 44AB before 30 September 2019. Also, working partners of partnership firms whose books of accounts are audited should be done by 30 September 2019. All Assessees who are required to furnish a report u/s 92E (transfer pricing)
| Sl no | Category | Due dates |
|---|---|---|
| 1. | All Assessees whose accounts need not be audited u/s 44AB
Note: Any non-corporate (Individual/HUFs/Firms etc) assessees having total income below the following limit does not come under audit:
|
31 July 2019 |
| 2. | All non corporate Assessees whose accounts need to be audited u/s 44AB
Individual, Hindu undivided family (HUFs), Body of Individuals (BOI), Associate of persons (AOP) etc |
30 September 2019 |
| 3. | All corporate Assessees whose accounts need to be audited u/s 44AB | 30 September 2019 |
| 4. | Working partners of partnership firms whose books of accounts are audited | 30 September 2019 |
| 5. | All Assessees who are required to furnish a report u/s 92E (transfer pricing) | 30 November 2019 |
I wanna know about standard deduction. Can it applicable on Honorarium taken persons please
Hi Sanjeev,
The standard deduction is applicable only for salary payment. It is not applicable for Honorarium payment as it is considered as a service payment
i wanna know if any corporate organition payment tax two day after due date so he has any penalty or not.for example – due date in 31/03/2019.but he has payment in 02/04/2019.has he give any penalty ???
Hi Rajat,
No, you will not be having any penalty. But, interest u/s 234B & 234C will be applied on the due amount.
Hello,
I own a small business which not comes under gst
I want to pay tax for that under
Self assessment tax as local accountant said
But now he is telling we can’t pay tax for 2018-19 as it attract penalty
Only 2019-20 is payable.
So y can’t I pay 18-19 tax now if so what is the due date to pay that
Hi Mr.Likith,
Self assessment tax is to be paid with required late payment interest which is 1% of tax amount per month delay. The payment has to be made before the return filing.
Sir,
My mother who is a super senior citizen has income from family pension and some savings bank interest only. Which ITR she is required to file for the AY 2019-20?
In ITR1 for AY 2019-20…..In Part A (General Information) a column “Nature of Employment”…..Govt. PSU, Pensioners, Others has been added which is mandatory to fill in online efiling. But my mother is a family pensioner which is included in “Income from other sources”. Unlike previous years there is no option like “not applicable” under “Nature of Employment”. Which option she should chose?
Hi Mr.Bikas,
She has to file ITR 1. Please check the Tools again, as the income tax dept given structure consists of NOT APPLICABLE option.