Important dates in Income Tax Calendar 2021

Important dates in Income Tax Calendar 2021

New Delhi: A new year has begun and the income tax department has issued a new e-calendar for the year 2021. The calendar lists all the important tax-related deadlines. Designed as the ‘Honoring the honest’ calendar, the income tax department in an email sent to the taxpayers 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 simpler and easier.”

Here are all the important dates you need to know from income tax perspective in 2021:

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January:

  • January 15: Date for furnishing various audit reports under the Income-tax Act
  • January 15: Quarterly statement of TCS deposited for the quarter ending December 31, 2020
  • January 30: Quarterly TCS certificate in respect of tax collected for the quarter ending December 31, 2020
  • January 31: Last Date for making Declaration under Vivad Se Vishwas Scheme
  • January 31: Quarterly statement of TDS deposited for the quarter ending December 31, 2020

February:

  • February 15: Extended Due Date for Filing ITR for AY 2020-21 for taxpayers requiring audit
  • February 15: Quarterly TDS certificate (other than salary) for the quarter ending December 31, 2020

March: 

  • March 15: Fourth installment of advance tax for the AY 2021-22
  • March 31: Last date for filing belated or revised return of income for AY 2020-21
  • March 31: Quarterly statements of TDS/TCS Deposited for Q1 & Q2 of FY 2020-21
  • March 31: Last date for payment under Vivad Se Vishwas Scheme without additional levy
  • March 31: Last date for Linking Aadhaar with PAN

May: 

  • May 15: Quarterly statement of TCS deposited for the quarter ending March 31, 2021
  • May 31: Quarterly statement of TDS deposited for the quarter ending March 31, 2021
  • May 31: Due date for furnishing of statement of financial transaction u/s 285BA in respect of FY 2020-21

June:

  • June 15: First installment of advance tax for AY 2022-23
  • June 15: TDS Certificate-Form 16 to employees (in respect of salary paid) for AY 2021-22
  • June 15: Quarterly TDS certificate (other than salary) for the quarter ending March 31, 2021

July:

  • July 15: Quarterly statement of TCS deposited for the quarter ending June 30, 2021
  • July 30: Quarterly TCS certificate for the quarter ending June 30, 2021
  • July 31: Quarterly statement of TDS deposited for the quarter ending June 30, 2021
  • July 31: ITR for AY 2021-22 for all assessees other than (a) corporate assessee or (b) non-corporate assessee who is liable to get his accounts audited or (c) assessee who has entered into an international or specified domestic transaction

August:

  • August 15: Quarterly TDS certificate (other than salary) for the quarter ending June 30, 2021

September:

  • September 15: Second installment of advance tax for AY 2022-23
  • September 30: Audit Report for AY 2021-22 in case of assessee who has not entered into an international or specified domestic transaction

October:

  • October 15: Quarterly statement of TCS deposited for the quarter ending September 30, 2021
  • October 30: Quarterly TCS certificate for the quarter ending September 30, 2021
  • October 31: Quarterly statement of TDS deposited for the quarter ending September 30, 2021
  • October 31: ITR for AY 2021-22 for assessees (not having an international or specified domestic transaction) who is (a) corporate 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 domestic transaction

November: 

  • November 15: Quarterly TDS certificate (other than salary) for the quarter ending September 30, 2021
  • November 30: ITR for AY 2021-22 in respect of assessee having an international or specified domestic transaction

December:

  • December 15: Third instalment of advance tax for AY 2022-23

Note that the Central Board of Direct Taxes  (CBDT), on Wednesday, extended the due date for furnishing Income Tax Returns (ITR) for the Assessment Year 2020-21 (AY21) for the income earned in the financial year 2019-20 by ten days. The new deadline for filing income tax return for AY21 was extended from December 31, 2020 to January 10, 2021.

This is the third time that the last date for furnishing of ITR has been extended. The deadline, which usually falls on July 31every year was first postponed till November 31, then December 31 and then further extended till January 10, for those under ITR-1, ITR-4 categories. Forms ITR-1 and ITR-4 largely pertain to salaried individuals including income from house.

 

Source:- timesnownews

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