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Home Business Income tax calendar 2021: Important dates and deadlines you should know

Income tax calendar 2021: Important dates and deadlines you should know

Income tax calendar 2021: Important dates and deadlines you should know

Income tax calendar 2021: Important dates and deadlines you should know

The Income Tax (IT) division has issued a brand new e-calendar for the yr 2021 having an inventory of all of the essential tax-related deadlines. Designed because the ‘Honoring the sincere’ calendar, the earnings tax division in an electronic mail ship to the tax payers wrote, “Welcome to a new era where tax system is becoming seamless, faceless and paperless. Every taxpayer is a nation builder. “Here is a calendar to make your tax journey less complicated and simpler.”

The calendar has all of the essential dates a taxpayer should remember about. Here is the direct hyperlink for Income Tax Calendar 2021 PDF Download: DIRECT LINK HERE

Here are all of the essential dates you should know from earnings tax perspective in 2021:

January 

  • January 7: Due date for deposit of Tax deducted/collected for the month of December 2020
  • January 10: Last date for submitting of return for AY 2020-21 within the case of assessees who do not should get their acoiunts audited 
  • January 31: Filing of quarterly assertion of TDS deposited for the quarter ending December 31, 2020

February 

  • February 7: Due date for deposit of Tax deduction/collected for the month of January 2021
  • February 15: Last date for submitting of returns for evaluation yr 2020-21 within the case of assessees who should get their account audited.

March

  • March 7: Due date for deposit of Tax deducted/collected for the month of February 2021
  • March 15: Due date for cost of 4th installment of advance tax for the evaluation yr 2021-22
  • March 31: Due date for submitting of belated/revised return of earnings for the evaluation yr 2020-21 for all assessees (offered evaluation has not been accomplished earlier than March 31, 2021)

April

  • April 7: Due date for deposit of Tax deducted/collected for the month of March 2021 by a authorities deductor
  • April 30: Due date for deposit of Tax deducted by an assessee apart from an workplace of the federal government for the month of March, 2021

May 

  • May 7: Due date for deposit of Tax deducted/collected for the month of April 2021.
  • May 31: Filing quarterly assertion of TDS deposited for the quarter ending March 31, 2021

June

  • June 7: Due date for deposit of Tax deducted/collected for the month of May, 2021.
  • June 15: Due date for cost of 1st installment of advance tax for the evaluation yr 2022-23

July 

  • July 7: Due date for deposit of Tax deducted/collected for the month of June, 2021.
  • July 31: Quarterly assertion of TDS deposited for the quarter ending June 30, 2021
  • July 31: ITR for AY 2021-22 for all assessees apart from (a) company assessee or (b) non-corporate assessee who’s liable to get his accounts audited or (c) assessee who has entered into a world or specified home transaction

August 

  • August 7: Due date for deposit of Tax deducted/collected for the month of July, 2021.

September

  • September 7: Due date for deposit of Tax deducted/collected for the month of August, 2021.
  • September 15: Second installment of advance tax for AY 2022-23

October

  • October 7: Due date for deposit of Tax deducted/collected for the month of September, 2021.
  • October 31: Quarterly assertion of TDS deposited for the quarter ending September 30, 2021
  • October 31: ITR for AY 2021-22 for assessees (not having a world or specified home transaction) who’s (a) company assessee or (b) non-corporate assessee whose books are required to be audited
  • October 31: Audit report for AY 2021-22 in respect of assessee having an International or specified home transaction

November

  • November 7: Due date for deposit of Tax deducted/collected for the month of October, 2021.
  • November 30: ITR for AY 2021-22 in respect of assessee having a world or specified home transaction

December

  • December 7: Due date for deposit of Tax deducted/collected for the month of October, 2021.
  • December 15: Third instalment of advance tax for AY 2022-23

In view of the continued challenges confronted by taxpayers in assembly statutory compliances because of the outbreak of COVID-19, the federal government additional prolonged the dates for numerous compliances. The deadline to file earnings tax return (ITR) for FY 2019-2020 has been prolonged for people from December 31, 2020, to January 10, 2021. The extension of the deadline is for these people whose accounts are usually not required to be audited and who often file their earnings tax return utilizing ITR-1 or ITR-4 types, as relevant. READ MORE HERE

This is the third time that the final date for furnishing of ITR has been prolonged. The deadline, which often falls on July 31every yr was first postponed until November 31, then December 31 and then additional prolonged until January 10, for these underneath ITR-1, ITR-4 classes. Forms ITR-1 and ITR-4 largely pertain to salaried people together with earnings from home. 

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