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.
The due date for 3rd instalment of Advance Tax payment for FY (financial year) 2019-20 is extended from Dec 15, 2019 to Dec 31, 2019 for the North Eastern Region, as per CBDT.
For businesses who have opted for Presumptive Taxation Scheme 100% of advance tax is payable by 31st March.
Late filing fee Rs 5,000 is payable for submission of ITR late return by December 31, but after December 31 and before 31st of March it will be Rs 10,000.
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, 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 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 Income tax return for FY 2019-20 for all persons except :
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:
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