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.
<!--[if gte mso 9]>
| 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 |
0 comments:
Post a Comment