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
- IT returns for FY 2018-19 extended to 30th June 2020 and the interest is 9%
- Aadhaar-PAN linking date to be extended from 31st March 2020 to 30th June 2020.
- Vivad se Vishwas scheme (VAVS) extended from 31st March 2020 to 30th June 2020 no additional amount 10%
- Appeals, intimation, investments of capital gains, 80C investments, etc due dates extended to 30th June 2020.
- 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 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 |
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.
Sir,
I am a salaried Govt. Employee. I have income from salary and other sources like Bank F.D. interest from which TDS is deducted.
Now in ITR1 for AY 2019-20 I have to report Total Taxes Paid which includes…. Total TDS claimed+ Self assessment tax+ Advance tax paid. Now what is this “Total TDS claimed”? Is it the sum total of TDS from salary as per Form 16 (Schedule TDS1)+ TDS on the Bank F.D. interest as per Form 16A (Schedule TDS2)?
Kindly clarify.
Hi Bikas,
Yes, it is the TDS deducted at each of your income sources. So, that will be TDS from both Form 16 got from your employer and Form 16A got from the bank
Hi sir I am a salaried service person. My employer didn’t deducted the tax of income from other sources for fy 2018-19. I want to pay the balanced tax. What is the last date for paying? With interest or with penalty? Pls guide thanks
Hi Chetram,
The pending tax is to be paid on or before filing the tax return. The due date for a tax return is 31st July 2019. Interest for delay payment is 1% per month on tax amount till the month of payment from Apr 2019.
For eg. If tax due is 1500 and is being paid on 15th June, then per month interest is Rs.15 delay for 3 months so interest will be Rs.45.
Sir, I am a pensioner under Ayurvedic Research Council, Ministry of AYUSH, GoI since 2012. Until now, I have not received any income & TDS certificate from my employer. The figures posted by the employer in 26 AS site of IT is totally wrong. They have given me pension around 7 lakhs, but posted in 26 AS as 2.25 lakhs and actually deducted tax of 66000/- but have posted as 57000/-. Inspite of my several efforts, they are not sending the TDS cerificate or 16 A form. Please advise me how to pay my tax for FY 2018-19. What is the last date of self assessment tax deposit for senior citizens and last date for filing return ? I am under great tension. Kindly reply me what to do to pay my taxes. Regards, Dr D.P.Sahu, 25/6/19
Dear Sir, Please raise a grievance in the Income Tax Department for the said case. If proper TDS is not deducted, please compute your Income Tax for the year and pay it as Self-assessment Tax before your Income Tax Return Filing. The due date for Filing is 31st July 2019.
Hi sir, I have filed my ITR before the due date(31.08.19) but I did not pay the tax. Can I pay the tax after two days? Do I need to pay any penalty also?
Hi Solomon,
Please check your filed return as the return cannot be filed if you have tax payable.
I have paid my tax for STCG/LTCG during my advanced tax dates (June 15th, Sep 15th, Dec 15th, Mar 15th) . Now if I sell some shares between Mar 16th and Mar 31st, then when and how I need to pay the tax for the STCG/LTCG as the advanced tax dates has gone. Shall I pay it as self assessment tax? Please do let me know.
You can pay it as a Self-Assessment tax on or before 31st March. You can also pay this amount before you do IT filing but it will attract interest amount for your late payment.