Income Tax Calendar 2019-20
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Advance Taxes of Earnings Tax for FY 2018-19 & AY 2019-20
| Due Date | Pay Advance Tax |
|---|---|
| On or Before 15 th June | 15% |
| On or Before 15 th September | 45% |
| On or Before 15 th December | 75% |
| On or Prior To 15 th March | 100% |
For organizations who have gone with Presumptive Tax Plan 100% of advance tax is payable by 31 st March.
3. Self-Assessment Tax
This is the balance or staying tax paid by a private or taxpayer after taking into consideration the TDS and Advance Tax.
What is meant by Evaluation year and Fiscal year?
Financial Year is the present working year in which an individual or corporation earns income. The Assessment Year is on the other hand the being successful year in which evaluation of the previous year’s earnings has to be made.
Assessment Year includes:
- Income Evaluation.
- Paying Taxes on the assessed income based on the rate( progressive) and time (regular or periodical or on an occasional) informed by the IT Department.
- For FY 2018-19, the AY is 2019-20
- The last date to file the income tax return (ITR) for the financial year 2018-19 is 31 st July 2018.
Income Tax Calendar of March 2019
| Due date | Purpose | Period | Description |
| second Mar | TDS Challan cum Statement in case of Section 194 IA and 194 IB | Jan’19 | Furnishing of challan-cum-statement.
under Section 194 IA and 194 IB |
| 7th Mar | TDS/ TCS Liability Deposit | Feb’19 | Depositing TDS/ TCS liability |
| 15 th Mar | Advance Tax ( fourth Instalment) | FY 2018-19( AY 2019-20) | Earnings taxpayers whose overall estimated tax due after TDS goes beyond INR 10,000 |
| Advance Tax (100% Tax Liability) | FY 2018-19( AY 2019-20) | Earnings tax assessees covered under the presumptive scheme of section 44 ADVERTISEMENT/ 44 ADA | |
| 17 th Mar | TDS Certificate ( Form 16 B) | Jan’19 | Issuance of TDS certificate for Tax subtracted under section 194- IA |
| TDS Certificate ( Form 16 C) | Jan’19 | Issuance of TDS certificate for Tax deducted under area 194- IB | |
| 30 th Mar | TDS Challan cum Statement in case of Area 194 IA and 194 IB | Feb’19 | Furnishing of challan-cum-statement.
under Area 194 IA and 194 IB |
| 31 st Mar | Aadhaar-PAN Linking | Due date to connect Aadhaar number with PAN | |
| Income Tax Return ( Belated) | FY 2018-19( AY 2019-20) | All the taxpayers required to submit ITR for the FY 2018-19 | |
| Above due dates undergo any changes alerted by the department based upon the suggestions and circumstances.
194- IA- TDS on payment made by the person transferring Unmovable property valuing more than Rs. 50 Lakhs 194- IB- TDS on Lease paid by Specific/ HUF to any resident exceeding fifty thousand rupees p.m |
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Income Tax Calendar of February 2019
| Due date | Purpose | Duration | Description |
| 7th Feb | TDS/ TCS Liability Deposit | Jan’19 | Transferring TDS/ TCS liability |
| 14 th Feb | TDS Certificate( Type 16 B) | Jan’19 | Issuance of TDS certificate for Tax subtracted under area 194- IA |
| TDS Certificate( Kind 16 C) | Jan’19 | Issuance of TDS certificate for Tax deducted under section 194- IB | |
| 15 th Feb | Quarterly TDS certificate( Kind 16 A) | Oct’18 to Dec’18 | Issuance of quarterly TDS certificate for tax deducted on payments besides on income |
| Above due dates are subject to any changes notified by the Income Tax Department 194- IA- TDS on payment made by the person transferring Unmovable home valuing more than Rs. 50 Lakhs.
194- IB- TDS on Lease paid by Individual/ HUF to any resident exceeding Rs. 50,000 p.m |
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Earnings Tax Calendar of January 2019:
| Due date | Purpose | Duration | Description |
| 7th Jan | TDS/ TCS Liability Deposit | Dec’18 | Depositing TDS/ TCS liability |
| 14 th Jan | TDS Certificate( Form 16 B) | Nov’18 | Issuance of TDS certificate for Tax deducted under area 194- IA |
| TDS Certificate( Type 16 C) | Nov’18 | Issuance of TDS certificate for Tax deducted under area 194- IB | |
| 15 th Jan | TCS Return (Quarterly) | Oct’18 to Dec’18 | Declaration of TCS deposited under Income Tax laws |
| 30 th Jan | Quarterly TCS certificate | Oct’18 to Dec’18 | Issuance of quarterly TCS certificate for tax collected on receipts |
| TDS Challan cum Declaration in case of Section 194 IA and 194 IB | Dec’18 | Furnishing of challan-cum-statementunder Section 194 IA and 194 IB | |
| 31 st Jan | TDS Return (Quarterly) | Oct’18 to Dec’18 | Statement of TDS transferred under Income Tax laws |
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