Income Tax Return 2021 Calendar

Income Tax Return 2021 Calendar

A new e-calendar for the year 2021has been issued by the Income Tax (IT) department having a list of all the important tax-related deadlines. This was designed as the 'Honoring the honest' calendar, the income tax department in an email sent out 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."

The Income Tax Department gives you ample amount of time to file your Income Tax Return (ITR), pay your tax dues, or claim your tax refunds. You have access to a number of tax benefits such as the ones offered on your tax-saver Fixed Deposit, ELSS Mutual Fundor home Loan. Many people, however, do not pay required attention to their income tax requirements and consider their job done once they have filed their ITRs.

To ease out your tension, we have brought you the list of all important dates and deadlines you should be aware off : 

Below we have mentioned all the important dates related to Income tax for the year 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 assesses 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 assesses 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 assesses (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 assesses 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 assessee 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 assesses (not having an international or specified domestic transaction) who is (a) corporate assesses or (b) non-corporate assesses whose books are required to be audited
  • October 31: Audit report for AY 2021-22 in respect of assesses 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 assesses 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

The global pandemic hit our country like a huge catastrophe, following which taxpayers have faced major challenges in meeting a lot of statutory compliances. So, the government has decided to further extend the dates for various compliances. The deadline for filing income tax return for FY 2019-2020 has been extended for all taxpayers from 31st December to 10th January 2021. However, this extension is valid for those people whose accounts are not required to be audited and individuals who generally file their income tax return using ITR -1 or ITR – 4 forms, as required. 

This time the last date for furnishing of ITR has been extended for the third time. Usually, the deadline falls on 31st July every year was initially postponed till 31stNovember, then 31st December and then further extended till 10th January for those who fall under ITR -1, ITR – 4 categories. Forms ITR – 1 and ITR – 4 majorly concerning to salaried individuals including income from house. 

Filing your ITR is a major compliance and you must not miss this at any cost so that you can stay sorted financially for the rest of the year. Filing your ITR on time is always a smart decision, it keeps you tension free for the rest of the year so you can plan your annual expenses and investments accordingly. 


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