Direct Taxes

Important Due Dates under Direct Taxes

Sr. No.

Nature

Details

April

May

June

July

Sept.

Oct.

Nov.

Dec.

Jan.

Mar.

A

TDS STATEMENTS

FORM NO.

                    

1.

Salaries

Quarterly

24Q

                    

2.

Other than salaries

Quarterly

26Q

                    

3.

Payments other than salary to Non- Residents/NORs [also see Note (1) below]

Quarterly

27Q

                    
 

Quarter ending (For 1, 2 & 3)

                        
 

June

          

31

            
 

September

              

31

        
 

December

                    

31

  
 

March

      

31

                

B

RETURN FOR NON-DEDUCTION OF TAX

FORM NO.

                    
 

Interest other than interest on Securities not exceeding ₹ 10,000/- by every branch of a banking company without deducting tax

26QAA Quarterly

    

30

31

  

31

    

31

  

C

RETURNS OF TAX COLLECTION AT SOURCE (See Note 6)

FORM NO.

                    
 

Quarterly returns

27EQ

  

15

  

15

  

15

    

15

  

D

RETURNS OF INCOME

FORM NO.

                    
   

ROI (Refer Note 9)

                    

1

i) Companies other than those claiming exemption under Section 11 or required to file a report in Section 92E

6

        

30

          
 

ii) Company required to furnish report under Section 92E

6

            

30

      

2

Non-Corporate assessees

                      
 

a) Having Business Income

                      
 

i) Required to get their accounts audited under Income Tax law or any other law

4 or 5

        

30

          
 

ii) Working Partner of a firm

3

        

30

          
 

iii) Any other assessees

3, 4 or 5 – Sugam

      

31

            
 

b) Having no Business Income

1 Sahaj or 2

      

31

            
 

c) Charitable Trusts or societies or companies under Section 25 if the Companies Act, 2003 claiming exemption under Section 11

7

        

30

          

E

ADVANCE TAX PAYMENTS FOR INCOME TAX

AGGREGATE TAX PAYABLE UP TO DUE DATE

                    
   

All assessees

                    
 

1. First Instalment

15%

    

15

              
 

2. Second Instalment

45%

        

15

          
 

3. Third Instalment

75%

              

15

    
 

4. Final Instalment

100%

                  

15

F

ANNUAL INFORMATION RETURN (AIR) — 31ST AUGUST

    

31

                

NOTES :

  1. For date of filing TDS statement, refer TDS chart.
  2. Recipient of Form Nos. 15G & 15H must file a copy with C.I.T. by the 7th day of the month following the month in which it is received.
  3. TDS must be deposited in bank by the 7th day of the month following the month in which tax was deducted. If the amount is credited/paid to the Payee’s A/c for the month of March, then TDS must be deposited by 30 April. (For section 80-IA 7th day from the end of the month)
  4. Dividend tax u/s. 115-O must be paid within a period of 14 days from the date of declaration, distribution or payment of dividend, whichever is earlier.
  5. TDS is required to be deducted either at the time of making payment or credit whichever is earlier except for salaries where TDS is deducted on payment basis. For rates and compliance. Refer TDS Chart.
  6. The aforesaid TDS Returns and the Returns for tax collected at source have to be filed on the computer media; i.e., prescribed CD-ROM, DAT cartridge or USB drive by filing Forms 27A/Form 27B along with the certificate by the assessees regarding clean and virus free data.
  7. If on the due date of instalment payable the bank is closed due to holiday, payment can be made on next working day. Under such circumstances, interest under Sections 234B and 234C is not chargeable. (Circular No. 676 dated 14 Jan 1994).
  8. Interest payable for failure to deduct/collect or pay the tax, shall be paid before submission of quarterly return.
  9. For Returns of Income please see Rule 12. Refer page 4.