Due Dates of Income Tax Return:

  • Person not required to be audited – 31st July (Date been extended to 31st August 2018 for A.Y. 2018-19)
  • Person required to be audited Under Income Tax Act,1961 or under any other Law – 30th September
  • Where the assessee is required to furnish report under section 92E pertaining to international/specified domestic transaction-30th November.

Income Tax Return Filing & Advance tax Due Dates

Advance Income Tax Due Dates and amount payable

Corporate/Non- corporate Assesee (other than assessee who declares income u/s  44AD(1)/ 44ADA(1))
Due Date Amount due
On or before 15 June 15% of tax due on the returned income or the amount of such advance tax paid
On or before 15 September 45% of tax due on the returned income or the amount of such advance tax paid
On or before 15 December 75% of tax due on the returned income or the amount of such advance tax paid
On or before 15 March 100% of tax due on the returned income or the amount of such advance tax paid

However  if the advance tax paid by the assessee on the current income, on or before the 15th day of June or the 15th day of September  is not less than twelve per cent or,  thirty-six per cent respectively  of the tax due on the returned income, then, the assessee shall not be liable to pay any interest on the amount of the shortfall on those dates. Also any amount paid by way of Advance Tax on or before the 31st March of that year, is treated as Advance Tax Paid during that Financial Year.

Any Default in payment of Advance tax may result in levy of Interest U/s. 234A, 234B, 234C. You can read here onHow to Calculate Interest U/s. 234A, 234B, 234C.

Wef A.y 2017-18: The assessee who declares income u/s 44AD(1)/44ADA(1) should pay pay the entire tax (100%) as advance tax on or before 15th march.If there is any shortfall, interest shall be levied simple interest@1% per month or part of the month on the short amount.

(Republished With Amendments)

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3 responses to “Income Tax Return Filing & Advance tax Due Dates”

  1. Gurumoorthy says:

    I’m retired in Mar 2018, 58 year plus and have no income from salary business or profession, investments/deposits or rent.
    I have not withdrawn my PF, as I will get a better, safe secure and higher interest (since it’s maintained by a trust upto 60years of age I will get interest on my balance) than elsewhere and unlikely to withdraw in this financial year.
    Can someone clarify whether I have to pay advance tax as by the end of the year my interest income from PF is likely to be around Rs.6,00,000/. Should I pay pro-rat a tax now, or can I start paying from December 15,2018 onwards.

  2. CA. Subhah Chandra Podder says:

    Mr. Monoj Kumar Modi , has said correctly .
    CA. Subhash Chandra Podder ,FCA
    Kolkata
    22/09/2012

  3. manoj k modi says:

    The above information provided in case of corporate is not correct:

    The correct %age of payment in case of Corporates is:

    1st Installment: 15 %
    2nd Installment: 45%
    3rd Installment: 75%
    4th Installment: 100%

    Regards
    Manoj K. Modi
    manojkmodi@gmail.com

    Agrawal Metal Works Pvt. Ltd. Rewari

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