Income Tax (IT) department has issued a new e-calendar for the year 2021 having a list of all the important tax-related deadlines. Designed as the ‘Honoring the honest’ calendar, the income tax department in an email send 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 simpler and easier.”
Here are all the important dates you should know from income 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 filing of return for AY 2020-21 in the case of assessees who don’t have to get their accounts audited
January 31: Filing of quarterly statement 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 filing of returns for assessment year 2020-21 in the case of assessees who have to 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 payment of 4th installment of advance tax for the assessment year 2021-22
March 31: Due date for filing of belated/revised return of income for the assessment year 2020-21 for all assessees (provided assessment has not been completed before March 31, 2021)
April
April 7: Due date for deposit of Tax deducted/collected for the month of March 2021 by a government deductor
April 30: Due date for deposit of Tax deducted by an assessee other than an office of the 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 statement 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 payment of 1st installment of advance tax for the assessment year 2022-23
July
July 7: Due date for deposit of Tax deducted/collected for the month of June, 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 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 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 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 an international or specified domestic 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 faced by taxpayers in meeting statutory compliances due to the outbreak of COVID-19, the government further extended the dates for various compliances. The deadline to file income tax return (ITR) for FY 2019-2020 has been extended for individuals from December 31, 2020, to January 10, 2021. The extension of the deadline is for those individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, as applicable.
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.
