Income-Tax-Calendar

Income Tax Calendar

Income Tax Calendar

The Income Tax Department of India requires a person to complete various kinds of compulsory tax formalities, such as filing income tax returns before the due date, paying advance tax on time, and replying to notices sent by the Income Tax Department within the specified due dates prescribed. Hence, it is important to understand the timelines for Income Tax Payment to avoid paying interest for Income Tax Late Payment. The actual due date for each of the tax formalities varies slightly from year to year. However, the tentative timeline for filing Income Tax Return is as below :

  • 31st Jul for Individuals
  • 30th Sep for Businesses

Income Tax Calendar

The Indian Income Tax Calendar with key due dates for Income Tax Return Filing are as follows :

Income-Tax-Calendar

Due DateMilestoneAdvance Tax (Current FY)Return Filing (Past FY)
1st AprilStart of Financial Year
15th JuneDue date for the First instalment of Advance Tax (15 % Payable) for current Financial YearYes
31st JulyDue date for filing income tax return for financial year for all persons except (i) Companies (ii) Non-Companies whose books are required to be audited and (iii) Working partner of a firm whose accounts are required to be auditedYes
15th SeptemberDue date for the second installment of Advance Tax (45 % Payable) for current Financial YearYes
30th SeptemberDue date for filing of  Audit report/Income tax return for financial year for the following: (i) Companies (II) Non-Companies whose books are required to be auditedYes
30th November
  • Due date for filing Audit report for financial year in case of a person who is required to submit a report pertaining to international or specified domestic transactions under section 92E
  • Due date for report to be furnished in Form 3 CEB in respect of international and specified domestic transactions.
Yes
15th DecemberDue date for the Third installment of Advance Tax (75 % Payable) for current Financial YearYes
31st March
  • End of Financial Year
  • Fourth installment of Advance Tax (100 % Payable) for current Financial Year
  • Due date for the whole amount of Advance Tax for current Financial year for taxpayers covered under presumptive scheme of Section 44AD
Yes

Failure to adhere to the mentioned timelines would lead to a late payment charge as per Sections 234A, 234B and 234C. Further details on the calculation of late payment can be found in Late-Payment-Interest.

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