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What are the important dates that you should know in Taxation?

Updated on: 19 Jul, 2024 12:04 PM

If you want to be tax friendly and want to save some taxes, it is important to keep a track on all important tax dates and plan accordingly. Only knowing the last date of filing Income Tax Return is not sufficient, there are many other key dates as well which one needs to mark on his calendar for a tax friendly year.

Bookmark the given below list of important dates and their explanation so that you can always stay one step ahead of the Income Tax Department!

Last Date for filing Income Tax Return:

31st July For individual tax filers and salaried employees For F.Y. 2015-16, the last date for filing Income tax return is 31st July 2016.
30th September For Corporate/any other tax return that requires an audit u/s 44AB/If you are a partner in a firm that requires an audit u/s 44AB For F.Y. 2015-16, the last date for filing Income tax return is 30th September 2016.

Last Date for filing Revised Income Tax Return:

31st March 2017 The return for F.Y. 2014-15 can be filed up to 31st March 2017

Due dates for Instalment of Advance Tax

For Non-Corporate Assessee
15th September 30% of the Assessed Income
15th December 60% of the Assessed Income
15th March 100% of the Assessed Income

Due Dates for TDS Payment

Due Date for TDS payment in case of Govt. Assessee
7TH of Next month Tax deposited with Challan
Same day Tax deposited without Challan
Due Date for TDS payment in case of Non-Govt. Assessee
30th April Tax deductible in March
7th of next month Other months and Tax opted to be deposited by the employer.
Due date for Quarterly payment of TDS as permitted under Section 192, 194A, 194D or 194H
7th July For Quarter ending 30th June
7th October For Quarter ending 30th September
7th January For Quarter ending 31th December
30th April For Quarter ending 31st March

Note*: Under section 192(1A), the payment has to be made within seven days (7 days) of the last day of the month in which the deduction is made or income-tax is due.

Due Dates for TDS/TCS Return

Due date for submission of quarterly TDS return ( Form 24Q & 26Q & Form 27Q)
Govt. Deductors
31th July For Quarter ending 30th June Form 24Q is for Return of TDS details on Salary Payments.
31th October For Quarter ending 30th September Form 26Q for Return of TDS details on Other than Salary Payments (Domestic).
31th January For Quarter ending 31th December Form 27Q is also for Return of TDS details on Other than Salary Payments (NRI/Foreign).
15th May For Quarter ending 31st March
Due date for submission of quarterly TDS return ( Form 24Q &Form26Q & Form 26EQ & Form 27Q )
Other Deductors
15th July For Quarter ending 30th June Form 24Q is for Return of TDS details on Salary Payments.
15th October For Quarter ending 30th September Form 26Q for Return of TDS details on Other than Salary Payments (Domestic).
15th January For Quarter ending 31th December Form 27EQ is for TCS returns.
15th May For Quarter ending 31st March Form 27Q is also for Return of TDS details on Other than Salary Payments (NRI/Foreign).

Note*: Due dates for Form 27EQ is same for Both Government Deductors and other Deductors.

Due Date to issue TDS Certificates

Due Dates to issue TDS certificates (Form 16)
31st May Form 16 is of Salary For F.Y. 2015-16, the last date for issuing TDS Certificate is 31st May 2016.

Due Dates to issue TDS /TCS certificates (Form 16A & Form 27D)
Govt. Employees

15th August For Quarter ending 30th June Form 27 D is Tax Collection Certificate(TCS)
15th November For Quarter ending 30th September Form 16 A is for TDS deducted on Income other than salary
15th Feburary For Quarter ending 31th December
30th May For Quarter ending 31st March
Note*: Form 16 A & Form 27D is issued within 15 days from the date of furnishing the TDS return

Due Dates to issue TDS/TCS certificates (Form 16A & Form 27D)
Non Govt. Offices

30th July For Quarter ending 30th June Form 27 D is Tax Collection Certificate(TCS)
30th October For Quarter ending 30th September Form 16 A is for TDS deducted on Income other than salary
30th January For Quarter ending 31th December
30th May For Quarter ending 31st March

Frequently Asked Questions

Q- What is Company ITR due date for AY (2024-25)?

For the Assessment Year (AY) 2024-25, companies subject to audit must file their Income Tax Returns (ITR) by October 31, 2024. For companies engaged in international or specified domestic transactions that necessitate a transfer pricing report, the deadline is November 30, 2024.

Q- What is the deadline for issuing Form 16 to employees?

Employers must issue Form 16 to employees by 15th June of the assessment year.

Q- When are TDS returns due?

Tax Deducted at Source (TDS) returns are due quarterly:

  • 31st July for the April to June quarter
  • 31st October for the July to September quarter
  • 31st January for the October to December quarter
  • 31st May for the January to March quarter
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CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2Win.in. Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.