Are you an income tax payer? Well, we won’t be surprised if you have a hard time remembering important dates for filing income tax returns (ITR). It is difficult at times to even understand the taxable part of your income, leave aside completing the ITR process. Things become tricky as the Income Tax department always keeps a tight watch on you – tech nowadays allows all your transactions to be tracked easily. If you miss any deadline or any part of your income, you end up facing trouble. The ongoing month is an important one for the income tax payers as there are several significant deadlines over the next four weeks. Here is a list of dates that you should not miss –
August 7 -This is the last date for issue of TDS Certificate for tax deducted under section 194-IA and 194-IB in the month of June 2019. Also, this is the last date for deposit of tax deducted/collected for the month of July 2019. The sum collected by 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 – This year’s Independence Day also marks the last date for furnishing of Form 24G by an office of the Government where TDS/TCS for July 2019 has been paid without the production of a challan. This is also the last date for submitting statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of July 2019. A
August 30, 2019: This is the due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA and 194-IB for the month of July 2019.
August 31, 2019: The final day of the month is the last date to file the income tax returns for the assessment year (AY) 2019-20 by all the individuals and several non-corporate ITR filers. “The Central Board of Direct Taxes (CBDT) extends the ‘due date’ for filing of Income Tax Returns from 31st July, 2019 to 31st August, 2019 in respect of certain categories of taxpayers who were liable to file their Returns by 31.07.2019,” Income Tax India said in an official communication via Twitter.
More from Income Tax department
The I-T department has recently launched a ‘lite’ e-filing facility to facilitate the easy and quick filing of returns by taxpayers. “The Income Tax department is launching ‘e-Filing Lite’, a lighter version of e-Filing portal with a focus on the filing of Income Tax Return (ITR) by the taxpayers,” the department said in a public advisory.