Avoid Last Minute Rush: Remember Very Important Due Dates of Income Tax

Friends, Every Tax payee always remember the following important dates for Income Tax Return Filing. This may sound unbelievable to you, but I do not own a calendar. What’s more is that I don’t even own a watch! But come on, my computer and phone function as both of those things. Who really needs the paper anymore, right? The tax due dates, are one of those important things that you should ask someone about if you don’t know. How can people be expected to remember something like that in the middle of the millions of other things they have to remember.

But if you file late, you may end up paying hundreds of dollars more than you would have had to in the first place. It is important to pay attention to tax due dates. Preventable tragedies are often the most tragic. So file on time! Also, file as early as you can, because the longer you wait to get that chore done, the longer it might take to actually process everything to completion. There might even be a mistake which further delays your situation or even makes you look suspicious in the wizened eyes of IRS folk.

Most varieties of taxpayers are required to have their tax returns filed by the second week of April (plus or minus a few days, differing year to year). If you’ve filed for an extension or had to work out some sort of payment regimen, then you will be given a later tax due date in the summer by which you will have to have X amount of fees paid.

If you are self employed or have quarterly related taxes to file, then January 18th is your tax due date. Seriously don’t shoot yourself in the foot by being lazy.Normally, when you use an online tax service like TurboTax Online, you can expect your federal and state refunds (if you’re getting one) in as little as 10 days. This is possible with their e-file and direct deposit options.

Regarding Income Tax: Inportant Due Dates
Due Dates	Purpose of Income Tax
April 14	Statement of tax deduction from interest, dividend or any other sum payable to non-resident during Jan 1 to March 31
April 30	Certificate of tax deducted at source from insurance commission during the previous year
	Certificate of tax deducted at source to be given to employee in respect of salary paid and tax deducted during the previous year
	Consolidated certificate of tax deduction (other than salary) during the previous year
	Annual return of dividend for the previous year
	Half-yearly return for tax collected at source during October 1 and March 31
May 31	Return of tax deduction from contributions paid by the trustees of an approved super annuation fund
	Annual return of winning of lottery / crossword puzzle for the previous year
	Annual return of winning from horse races for the previous year
	Annual return of salary income for salary paid in the previous year
June 15	First instalment of advance tax for companies for the assessment year
June 30	Submission of annual return of income / wealth for the assessment year, provided
	i) the assessee is not a corporate or a cooperative
	ii) his total income doesn't include any income from a business or profession
	Annual return of payment of fees for Professional or Technical Services
	Gift return for the assessment year
	Annual return of insurance commission for the previous year
	Annual return of interest on securities for the previous year
	Annual return of payments to contractors / sub-contractors for the previous year
	Annual return of payments for deposits under National Savings Scheme, 1998 for the previous year
	Annual return of payments made for repurchase of units by Mutual Fund or UTI for the previous year
	Annual return of rent for the previous year
July 14	Statement of tax deduction from interest, dividend or other sum payable to Non-Residents during April 1 to June 30
August 31	Annual return of income / wealth for the assessment year
September 15	First instalment for non-corporate assessee and second instalment of advance tax for corporate assessee for the assessment year
October 14	Statement of deduction of tax from interest, dividend or any other sum payable to Non-Resident during July 1 to September 30
October 31	Annual return of income / wealth for the assessment year
	Submit audit report under Section 44AB for the assessment year in the case of a non-corporate assessee
	Submission of half-yearly return for tax collected at source during April 1 and September 30
November 30	Annual return of income / wealth for the assessment year if the assessee is a corporate
	Furnish audit report under Section 44AB for the assessment year in the case of a corporate assessee
December 15	Payment of second instalment or third instalment of advance tax for the assessment year
January 14	Statement of tax deduction from interest, dividend or any other sum payable to non-resident during Oct 1 to Dec 31
March 15	Third instalment for an assessee other than a company and fourth instalment of advance tax for companies for the assessment year

Posted in: Important Dates for Income Tax Return,Important Events,Income Tax Due Dates