Income Tax Act, 1961


COMPLIANCESDUE DATERETURN / FORM /CHALLAN
INCOME TAX ACT, 1961
Deduction of Tax at Source (TDS) / Withholding of Tax
TDS / withholding of taxIn case of salary: TDS / withholding of tax should be made at the time of payment of salary.
Other than Salary: TDS / withholding of tax should be made at the time of payment or credit, whichever is earlier.
Payment of TDS / withholding taxAll sums deducted shall be deposited with the Government within 7 days from the end of the month in which the deduction is made. However, where the amount is credited or paid to the account of the payee in the month of March, the tax is required to be deposited with the Government on or before 30th AprilE – payment vide Challan 281
Filing of Quarterly Return of TDS and TCS for the payment of salaries and other than salariesPerson deducting the tax is required to file quarterly statements for the quarter ending on 30th June, 30th September, 31st December and 31st March in each financial year, in Form 26Q (Form 24Q for Salary) along with Form 27A, on or before 15th July, 15th October, 15th January and 15th May respectively.Form 24Q, 26Q, 27Q & 27 EQ respectively as the case may be
Issue of TDS Certificate / Withholding Tax Certificate(Other than Salaries)To be issued on quarterly basis within 15 days from due date for furnishing the statement of TDS / TCS (Quarterly basis) i.e., on or before 30th July, 30th October, 30th January and 30th May for quarters ended 30th June, 30th September, 31st December and 31st March respectively.Form 16A
Issue of TDS Certificate / Withholding Tax Certificate for SalaryTo be issued on or before 31st May of the financial year immediately following the financial year in which the income was paid and tax deducted.Form 16
Advance Tax / Self Assessment Tax
Advance tax payable in installments (in case where advance tax payable is Rs.10,000 or more)Advance Corporate Income Tax needs to be paid in installments of 15%, 45%, 75% and 100% of the total estimated tax liability for the financial year on or before 15th June, 15th September, 15th December and 15th March respectivelyChallan 280
Payment of Self Assessment taxUpto the due date of filing of return (30th September or 30th November as the case may be)Challan 280
Filing of Returns
Income Tax Return30th November of the following financial year (for cases in which Transfer Pricing is applicable.) In other cases 30th September.Form ITR 6
Tax Audit Report30th September of the following financial yearForm 3CD
Transfer Pricing Report30th November of the following financial yearForm 3CEB
Filing of Wealth Tax Return(if applicable)30th September of the following financial yearForm BA