Income Tax Calendar 2019-20 | Income Tax Important Dates for Year 2019

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 DatePay Advance Tax
On or Before 15th June15%
On or Before 15th September45%
On or Before 15th December75%
On or Before 15th March100%

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 datePurposePeriodDescription
2nd MarTDS Challan cum Statement in case of Section 194IA and 194IBJan‘19Furnishing of challan-cum-statement

under Section 194IA and 194IB

7th MarTDS /TCS Liability DepositFeb‘19Depositing TDS/ TCS liability
15th MarAdvance 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 MarTDS Certificate (Form 16B)Jan‘19Issuance of TDS certificate for Tax deducted under section 194-IA**
TDS Certificate (Form 16C)Jan‘19Issuance of TDS certificate for Tax deducted under section 194-IB***
30th MarTDS Challan cum Statement in case of Section 194IA and 194IBFeb‘19Furnishing of challan-cum-statement

under Section 194IA and 194IB

31st MarAadhaar-PAN LinkingDue 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

Income Tax Calendar of February 2019

*Due datePurposePeriodDescription
7th FebTDS /TCS Liability DepositJan‘19Depositing TDS/ TCS liability
14th FebTDS Certificate(Form 16B)Jan‘19Issuance of TDS certificate for Tax deducted under section 194-IA**
TDS Certificate(Form 16C)Jan‘19Issuance of TDS certificate for Tax deducted under section 194-IB***
15th FebQuarterly TDS certificate(Form 16A)Oct‘18 to Dec‘18Issuance 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

Income Tax Calendar of January 2019 :

Due datePurposePeriodDescription
7th JanTDS /TCS Liability DepositDec‘18Depositing TDS/ TCS liability
14th JanTDS Certificate(Form 16B)Nov‘18Issuance of TDS certificate for Tax deducted under section 194-IA**
TDS Certificate(Form 16C)Nov‘18Issuance of TDS certificate for Tax deducted under section 194-IB***
15th JanTCS Return (Quarterly)Oct‘18 to Dec‘18Statement of TCS deposited under Income Tax laws
30th JanQuarterly TCS certificateOct‘18 to Dec‘18Issuance of quarterly TCS certificate for tax collected on receipts
TDS Challan cum Statement in case of Section 194IA and 194IBDec‘18Furnishing of challan-cum-statementunder Section 194IA and 194IB
31st JanTDS Return (Quarterly)Oct‘18 to Dec‘18Statement of TDS deposited under Income Tax laws