Income Tax Calendar 2019-20 | Income Tax Important Dates for Year 2019. Tax Calendar 2019-20: October Income Tax Due Dates. Income Tax Return : Due Dates, Types & Penalties (FY 2018-19 AY 2019-20)
Advance Taxes of Income Tax for FY 2018-19 & AY 2019-20
| Due Date | Pay Advance Tax |
|---|---|
| On or Before 15th June | 15% |
| On or Before 15th September | 45% |
| On or Before 15th December | 75% |
| On or Before 15th March | 100% |
For businesses who have opted for Presumptive Taxation Scheme 100% of advance tax is payable by 31st March.
3. Self-Assessment Tax
This is the balance or remaining tax paid by an individual or taxpayer after taking into account the TDS and Advance Tax.
What is meant by Assessment year and Financial Year?
Financial Year is the current working year in which an individual or corporation earns income. The Assessment Year is on the other hand the succeeding year in which evaluation of the previous year’s income has to be made.
Assessment Year involves:
- Income Evaluation.
- Paying Taxes on the evaluated income as per the rate(progressive) and time ( regular or periodical or on an occasional) notified by the IT Department.
- For FY 2018-19, the AY is 2019-20.
- The last date to file the tax return (ITR) for the financial year 2018-19 is 31st July 2018.
Income Tax Calendar of March 2019
| *Due date | Purpose | Period | Description |
| 2nd Mar | TDS Challan cum Statement in case of Section 194IA and 194IB | Jan‘19 | Furnishing of challan-cum-statement
under Section 194IA and 194IB |
| 7th Mar | TDS /TCS Liability Deposit | Feb‘19 | Depositing TDS/ TCS liability |
| 15th Mar | Advance Tax (4th Instalment) | FY 2018-19 (AY 2019-20) | Income taxpayers whose total estimated tax due after TDS exceeds INR 10,000 |
| Advance Tax (100% Tax Liability) | FY 2018-19 (AY 2019-20) | Income tax assessees covered under the presumptive scheme of section 44AD/ 44ADA | |
| 17th Mar | TDS Certificate (Form 16B) | Jan‘19 | Issuance of TDS certificate for Tax deducted under section 194-IA** |
| TDS Certificate (Form 16C) | Jan‘19 | Issuance of TDS certificate for Tax deducted under section 194-IB*** | |
| 30th Mar | TDS Challan cum Statement in case of Section 194IA and 194IB | Feb‘19 | Furnishing of challan-cum-statement
under Section 194IA and 194IB |
| 31st Mar | Aadhaar-PAN Linking | Due date to link Aadhaar number with PAN | |
| Income Tax Return (Belated) | FY 2018-19 (AY 2019-20) | All the taxpayers required to file ITR for the FY 2018-19 | |
| *Above due dates are subject to any changes notified by the department based on the recommendations and situations.
** 194-IA- TDS on payment made by the person transferring Immovable property valuing more than Rs. 50 Lakhs *** 194-IB- TDS on Rent paid by Individual /HUF to any resident exceeding fifty thousand rupees p.m |
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Income Tax Calendar of February 2019
| *Due date | Purpose | Period | Description |
| 7th Feb | TDS /TCS Liability Deposit | Jan‘19 | Depositing TDS/ TCS liability |
| 14th Feb | TDS Certificate(Form 16B) | Jan‘19 | Issuance of TDS certificate for Tax deducted under section 194-IA** |
| TDS Certificate(Form 16C) | Jan‘19 | Issuance of TDS certificate for Tax deducted under section 194-IB*** | |
| 15th Feb | Quarterly TDS certificate(Form 16A) | Oct‘18 to Dec‘18 | Issuance of quarterly TDS certificate for tax deducted on payments other than on salary |
| *Above due dates are subject to any changes notified by the Income Tax Department** 194-IA- TDS on payment made by the person transferring Immovable property valuing more than Rs. 50 Lakhs
*** 194-IB- TDS on Rent paid by Individual /HUF to any resident exceeding Rs. 50,000 p.m |
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Income Tax Calendar of January 2019 :
| Due date | Purpose | Period | Description |
| 7th Jan | TDS /TCS Liability Deposit | Dec‘18 | Depositing TDS/ TCS liability |
| 14th Jan | TDS Certificate(Form 16B) | Nov‘18 | Issuance of TDS certificate for Tax deducted under section 194-IA** |
| TDS Certificate(Form 16C) | Nov‘18 | Issuance of TDS certificate for Tax deducted under section 194-IB*** | |
| 15th Jan | TCS Return (Quarterly) | Oct‘18 to Dec‘18 | Statement of TCS deposited under Income Tax laws |
| 30th Jan | Quarterly TCS certificate | Oct‘18 to Dec‘18 | Issuance of quarterly TCS certificate for tax collected on receipts |
| TDS Challan cum Statement in case of Section 194IA and 194IB | Dec‘18 | Furnishing of challan-cum-statementunder Section 194IA and 194IB | |
| 31st Jan | TDS Return (Quarterly) | Oct‘18 to Dec‘18 | Statement of TDS deposited under Income Tax laws |