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Avoid Section 234 interest penalties and late fees. Track every crucial date for Advance Tax, ITR filing, RBI rate decisions, and Section 80C investment cutoffs.
Pay at least 15% of your estimated total income tax liability for the financial year via Challan 280.
1% simple interest per month under Section 234C on the shortfall amount.
Calculate estimated business/capital gains income and deposit 15% tax via TIN-NSDL or Income Tax Portal.
Employers are mandatorily required to issue Part A and Part B of Form 16 to employees detailing total salary paid and TDS deducted.
Employer pays ₹100 per day penalty under Section 272A(2)(g) for late issuance.
Verify Part A (TDS details) and Part B (salary breakup) against your Annual Information Statement (AIS) and Form 26AS.
The statutory deadline to file your Income Tax Return (ITR-1, ITR-2, ITR-4) for the financial year without late fees.
Late fee up to ₹5,000 under Section 234F plus 1% interest per month under Section 234A on unpaid tax. Inability to carry forward business and capital losses.
Complete e-filing on incometax.gov.in and e-verify via Aadhaar OTP within 30 days.
Cumulative advance tax payment must reach at least 45% of your total estimated tax liability.
1% interest per month under Section 234C on the unpaid shortfall.
Review Q1 and Q2 actual capital gains and advance tax paid; pay remaining balance to reach 45%.
Submission of audit report by Chartered Accountant under Section 44AB in Form 3CA/3CB and 3CD.
0.5% of total sales/turnover or ₹1,50,000, whichever is less under Section 271B.
Coordinate with your CA to audit accounts and upload reports on the e-filing portal.
Statutory deadline for filing income tax returns for entities liable to tax audit.
Late fee under Section 234F plus interest on outstanding dues.
Finalize audited balance sheets and file audited returns.
Ensure 75% of your annual tax liability has been deposited with the government.
Section 234C penal interest at 1% per month on shortfall.
Account for Q3 capital gains from stock market and mutual funds; deposit advance tax.
The absolute last date to file a belated ITR or revise an already filed return for the assessment year.
After Dec 31, returns cannot be filed except through the cumbersome ITR-U (Updated Return) route with 25% to 50% additional tax penalty.
File ITR with late fee or rectify disclosure mistakes before the portal closes.
100% of your total estimated income tax liability must be deposited by this date.
Section 234B interest (1% per month) if total advance tax paid is less than 90% of assessed tax.
Calculate final annual tax, take credit for TDS, and pay remaining 100% balance.
Final day to complete tax-saving investments for the financial year. Mandatory deadline to deposit at least ₹500 in active PPF and Sukanya Samriddhi accounts to avoid account deactivation.
Zero deduction allowed for the financial year; PPF account becomes inactive and requires ₹50 penalty plus arrears to revive.
Complete ELSS investments, deposit minimum ₹500 in PPF, pay health insurance premium (80D), and book ₹1.25L tax-free equity gains.
Official start of the new financial year. Submit Form 15G / Form 15H to banks to prevent TDS on bank fixed deposit interest.
TDS will be deducted by banks if 15G/15H is not submitted promptly in April.
Submit Form 15G/15H to banks; start new FY SIP allocations; declare Old vs New Regime preference to employer.
RBI announces policy repo rate decisions, macroeconomic inflation forecasts, and liquidity guidance.
N/A (Regulatory Announcement)
Monitor benchmark rate adjustments to assess impact on home loan EMIs and fixed deposit rates.