Income Tax Calendar for the year 2020

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Disclaimer

This compliance calendar is prepared on the basis of relevant provisions and information existing at the time of the preparation. This does not constitute any sort of professional advice or a formal recommendation. I took utmost care to disseminate the true and correct view but errors might have crept in, for which we apologize. Also, this is not an exhaustive list. You are kindly requested to verify and confirm the updates from genuine sources before acting. "SINGATHALA.in" shall not be responsible for any loss or damage in any circumstances whatsoever.

According to the income tax department's calendar, here are the major tax-related dates in
all the months you should be mindful of in 2020.

January

January 7: Due date for deposit of Tax deducted/collected for the month of December, 2019. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan

January 15: Is the deadline to file quarterly statement of TCS for the third quarter of FY 2019-20.
January 30: Is the deadline to issue TCS certificate to the person from whom tax has been collected.
January 31: Is the deadline of filing TDS returns for the tax deposited with the government in the quarter ending December 31, 2019.

February

February 7: Due date for deposit of Tax deducted/collected for the month of January, 2020. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan
February 15: Quarterly TDS certificate has to issued with respect to tax deducted on income other than salaries for the quarter ending December 31, 2019.

March

March 7: Due date for deposit of Tax deducted/collected for the month of February, 2020. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan
March 15: You have to deposit the fourth instalment of advance tax (if you are liable to pay any) for FY 2019-20. It is also the due date for making payment of advance tax by those individuals who are covered under the presumptive taxation scheme under sections 44AD and 44ADA.
March 31: Is the last date of filing belated or revised return for FY 2018-19. Remember, if this deadline is missed, you will not be able to file ITR for FY2018-19.

April

April 7: Due date for deposit of Tax deducted/collected for the month of March, 2020. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan.

May

May 7: Due date for deposit of Tax deducted/collected for the month of April, 2020. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan
May 15: Is the due date of filing quarterly statement of TCS deposited for the quarter ending March 31, 2020.
May 31: Is the due date of filing quarterly statement of TDS deposited for the quarter ending March 31, 2020. It is also the due date for furnishing statement of financial transactions under section 285BA by financial institutions for FY 2019-20.

June

From June 15, salaried and other taxpayers start collecting their TDS certificates - Form 16 and Form 16A. Form 16 contains details of the total salary and other allowances paid to you during the FY 2019-20. It also contains details of tax deducted by your employer. Similarly, Form 16A is to be collected from your bank if the bank has deducted tax on the interest paid to you.
June 7: Due date for deposit of Tax deducted/collected for the month of May, 2020. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan
June 15: This is also the due date of depositing the first instalment of advance tax for FY 2020-21.

July

July 7: Due date for deposit of Tax deducted/collected for the month of June, 2020. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan
July 15: Is the due date to file quarterly statement of TCS deposited during the first quarter of FY 2020-21, i.e., till June 30, 2020.
July 30: Is the due date to issue TCS certificate for tax collected during the first quarter.
July 31: This is the last date to file your ITR. If the ITR is filed after this date, then an individual will have to pay a penalty of up to Rs 10,000. However, remember that even with the penalty, there is a time limit for filing of belated ITR. This is also the deadline for filing quarterly statement for TDS deposited for the quarter ending June 30, 2020.

August: 

August 7: Due date for deposit of Tax deducted/collected for the month of July, 2020. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan

August 15: Is the due date for issuing quarterly TDS certificate for the tax deducted from incomes other than salary for the quarter ending June 30, 2020.

September

September 7: Due date for deposit of Tax deducted/collected for the month of August, 2020. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan

September 15: Is the last date to deposit the second instalment of advance tax for FY 2020-21.

September 30: Is the last date for filing ITR for those taxpayers whose accounts have to be audited.

October

October 7: Due date for deposit of Tax deducted/collected for the month of September, 2020. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan

October 15: Is the due date for filing quarterly statement of TCS deposited for the second quarter of FY 2020-21, i.e., between July 2020 and September 2020.

October 30: Is the due date of issuing quarterly TCS certificate for the second quarter of FY 2020-21.

October 31: Is the due date of filing quarterly statement of TDS deposited in the September quarter.

November

November 7: Due date for deposit of Tax deducted/collected for the month of October, 2020. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan

November 15: Is the deadline to issue quarterly TDS certificate for the tax deducted on incomes other than salaries for the second quarter of FY 2020-21.

November 30: Is the deadline to file ITR for FY 2019-20 by those taxpayers whose accounts are audited and have international or specified domestic transactions.

December

December 7: Due date for deposit of Tax deducted/collected for the month of November, 2020. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan

December 15: Is the last date to deposit the third installment of your advance tax (if you are liable to pay) for FY 2020-21.

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