Income tax due dates for FY 2020-21 (AY 2021-22)

Income tax Due dates Updates

Due Dates of Income tax as applicable for FY 2020-21 (AY 2021-22)

(A) Due date for filing Income tax Return

CategorySub-CategoryDue date
Individual & HUFwhose accounts are required to be audited u/s 44AB (ITR-3)30th September 2021
 A working partner where the firm in which he is a working partner has to get its accounts audited u/s 44AB. (ITR-2)30th September 2021
 who is required to furnish report u/s 92E30th November 2021
  Other Individuals or HUF (ITR-1 or ITR-2 or ITR-4-Sugam)31st July 2021
 Firms, LLP, AOP, BOI, AJP, HUF, Co-op. Society , Local authorityIf required to get its accounts audited under income tax law or any other law (ITR-5)30th September 2021
 If not required to get its accounts audited (ITR-5)31st July 2021
 CompanyAny Corporate Assessee (ITR-6)30th September 2021
 Trust, Colleges, political partiesTrust, Political parties and colleges etc who are required to file return u/s 139(4A), 139(4B), 139(4C) or 139(4D) (ITR-7)30th September 2021
 If not required to get its accounts audited31st July 2021

Note: (1) As per section 139(4) any person who has not furnished a return within the time allowed to him under sub-section (1), may furnish the return for any previous year at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. This is called belated return.

(2) As per section 139(5) (as amended by Finance Act 2017) return filed as above can be revised up to the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. After amendment by the Finance Act’2016, the belated return can also be revised.

(3) W.e.f Financial year 2017-18, penalty u/s 234F is introduced for delay in filing the return. If assessee failed to furnish return of income within due date as prescribed in section 139(1) then he is required to pay penalty as follows:-

  •     Rs. 5000 if return is furnished on or before 31 December of assessment year.
  •      Rs. 10,000 in any other case.

                  (However, if total income of the person does not exceeds Rs. 5 lakh then fee payable shall be Rs. 1000 and no penalty shall be levied if total income does not exceed minimum income not chargeable to tax.)  

(B) Due date for payment of advance tax (FY 2020-21 & AY 2021-22)

InstallmentsDue dateCorporate TaxpayerIndividual Taxpayer
1ston or before 15th June15% of advance taxnil
2ndon or before 15th Sept.45% of advance tax30% of advance tax
3rdon or before 15th Dec.75% of advance tax60% of advance tax
4thon or before 15th March100% of advance tax100% of advance tax

Note-

(1) Only If your total tax liability is Rs 10,000 or more in a financial year then you have to pay advance tax.

(2) Taxpayers who opt for presumptive scheme are exempt from advance tax for FY2017-18.

(C) Due date for payment of TDS & TCS (FY 2020-21 & AY 2019-20)

For the MonthNon-GovernmentGovernment
April 2020 to February 2021 7th of next monthLast date of Current month in which TDS/TCS is deducted or collected
March-202130th April 20217th April 2021

Note: Time limit for depositing TDS deducted on the purchase of immovable property u/s 194IA is within 30th day from the end of the month in which payment of consideration is made.

(D) Due date for filing TDS return (FY 2020-21 & AY 2021-22)

QuarterPeriodLast Date of Filing
1st Quarter01-04-2020 to 30-06-202031st July 2020 (Extended to 31st march 2021)
2nd Quarter01-07-2020 to 30-09-202031st Oct 2020 (Extended to 31st march 2021)
3rd Quarter01-10-2020 to 31-12-202031st Jan 2021
4th Quarter01-01-2021 to 31-03-202131st may 2021

(E) Due date for filing TCS return (FY 2020-21 & AY 2021-22)

QuarterPeriodLast Date of Filing
1st Quarter01-04-2020 to 30-06-202015th July 2020 (Extended to 31st march 2021)
2nd Quarter01-07-2020 to 30-09-202015th Oct 2020 (Extended to 31st march 2021)
3rd Quarter01-10-2020 to 31-12-202015th Jan 2020
4th Quarter01-01-2021 to 31-03-202115th May 2020

(F) Due date for issuance of  TDS & TCS Certificate (FY 2020-21 & AY 2021-22)

Form No.PeriodicityDue date
Form-16 (TDS on salary)Annual31st May of next financial year
Form-16A (TDS on non-salary)QuarterlyWithin 15 days from due date of furnishing TDS return
Form-16B (TDS U/s 194IA))QuarterlyWithin 15 days of furnishing challan in Form No. 26QB
Form-27D (TCS)QuarterlyWithin 15 days from due date of furnishing TCS return.

(G) Due date for uploading Declaration received u/s 15G/15H

QuarterPeriodLast Date of Filing
1st Quarter01-04-2020 to 30-06-202015st July 2020
2nd Quarter01-07-2020 to 30-09-202015st Oct 2020
3rd Quarter01-10-2020 to 31-12-202015st Jan 2021
4th Quarter01-01-2021 to 31-03-202130th April 2021

(H) Due date for filing Annual Information Return(AIR) of specified financial transactions and reportable accounts in form 61A & 61B

To keep a watch on high value transactions undertaken by the taxpayer, the Income tax Law has framed the concept of “statement of financial transaction or reportable account”(previously called as ‘Annual Information Return (AIR)’). This statement is required to file by specified persons in form 61A & 61B upto 31st May of next Financial year. For FY 2020-21, this is required to filed upto 31st May 2021.

(I) Due date for filing Belated Return u/s 139(4) or Revised Return u/s 139(5).

As per section 139(4):-

  • upto to FY 2015-16- belated return could be filed at any time before completion of one year from the end of assessment year or before completion of assessment whichever is earlier.
  • From FY 2016-17- belated return can be filed at any time before the end of assessment year or before completion of assessment whichever is earlier.(from FY 2016-17, a belated return can also be revised)

As per section 139(5):-

  • upto to FY 2016-17- revised return could be filed at any time before completion of one year from the end of assessment year or before completion of assessment whichever is earlier.
  • From FY 2017-18- revised return can be filed at any time before the end of assessment year or before completion of assessment whichever is earlier.
Financial yearBelated Return can be filed an any time before completion of assessment or date given below, whichever is earlier.(U/s 139(4))Revised Return can be filed an any time before completion of assessment or date given below, whichever is earlier. (U/s 139(5))
2014-1531-03-201731-03-2017
2015-1631-03-201831-03-2018
2016-1731-03-201831-03-2019
2017-1831-03-201931-03-2019
2018-1931-03-2020 (extended upto 30-9-2020)31-03-2020 (extended upto 30-9-2020)
2019-2031-03-202131-03-2021
2020-2131-03-202231-03-2022

(J) Penalty for Delay in Filing Income tax Return

Upto Financial Year 2016-17

  • Upto Financial year 2016-17, If income tax return (belated return) is filed upto the end of assessment year then there is no penalty for delay in filing the return.
  • But if income tax return is filed after the end of assessment year, then Assessing officer may impose penalty of Rs. 5000/-. It is power of AO, he may or may not exercise this power after giving due hearing opportunity to assessee.

W.e.f Financial year 2017-18,

Penalty u/s 234F is introduced for delay in filing the return. If assessee failed to furnish return of income within due date as prescribed in section 139(1) then he is required to pay penalty as follows:-

  • Rs. 5000 if return is furnished on or before 31 December of assessment year.
  • Rs. 10,000 in any other case.
  • (However, if total income of the person does not exceeds Rs. 5 lakh then fee payable shall be Rs. 1000 and no penalty shall be levied if total income does not exceed minimum income not chargeable to tax.)

Note:- Due dates are subject to change frequently, Hence Please visit our Upcoming deadlines page for extended due dates. To visit upcoming deadlines page please Click Here.

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