KNOW YOUR DUE DATES
Aug-16
DATE	COMPLIANCE REQUIRED	FORM NO. / CHALLAN NO.
05-08-16	INCOME TAX: DUE DATE OF FILING INCOME TAX  FOR ALL ASSESSEES WHOSE ACCOUNTS ARE NOT LIABLE TO GET AUDITED UNDER ANY STATUTES FOR FY 2015-16	ITR 1,2,3,4,5,6,7
06-08-16	EXCISE: E-PAYMENT OF EXCISE DUTY FOR JULY 2016	GAR 7
	SERVICE TAX: E-PAYMENT OF SERVICE TAX FOR JULY 2016 BY CORPORATES
07-08-16	INCOME TAX: DEPOSIT OF TDS/TCS COLLECTED DURING JULY 2016	281
	INCOME TAX: DUE DATE FOR FURNISHING OF CHALLAN-CUM-STATEMENT IN RESPECT OF TAX DEDUCTED UNDER SECTION 194-IA IN THE MONTH OF JULY 2016	26QB
10-08-16	EXCISE: MONTHLY RETURNS FOR PRODUCTION AND REMOVAL OF GOODS AND CENVAT CREDIT FOR JULY 2016	ER 1
	EXCISE: MONTHLY RETURNS OF EXCISABLE GOODS MANUFACTURED & RECEIPT OF INPUTS & CAPITAL GOODS BY UNITS IN EOU, STP, HTP FOR JULY 2016	ER 2
	EXCISE: MONTHLY RETURNS OF INFORMATIONS RELATING TO PRINCIPAL INPUTS FOR JULY 2016 BY MANUFACTURER OF SPECIFIED GOODS WHO PAID DUTY>=RS. 1 CRORE DURING FY 2015-16 BY PLA/CENVAT/BOTH	ER 6
15-08-16	KERALA VAT: MONTHLY RETURNS OF EVERY DEALER WHOSE ANNUAL NET TAX PAYABLE FOR THE PRECEDING YEAR WAS RS.10 LAKHS & ABOVE FOR THE MONTH OF JULY 2016	10, 10B, 10C, 10D, 10E, 10F
	INCOME TAX: QUARTERLY TDS CERTIFICATE IN RESPECT OF TAX DEDUCTED  FOR PAYMENTS OTHER THAN SALARY BY ANY PERSON FOR THE QUARTER ENDED 30TH JUNE 2016	16
	EPF: PAYMENT OF EPF CONTRIBUTION FOR JULY 2016
	EPF: CONSOLIDATED STATEMENTS OF DUES AND REMITTANCES UNDER EPF AND EDLI FOR JULY 2016	12A
	EPF: MONTHLY RETURNS OF EMPLOYEES WHO JOINED/LEFT THE ORGANISATION IN JULY 2016	5/10
20-08-16	KERALA VAT: MONTHLY RETURNS OF EVERY DEALER WHOSE ANNUAL NET TAX PAYABLE FOR THE PRECEDING YEAR WAS MORE THAT RS.2 LAKHS AND LESS THAN RS.10 LAKHS FOR THE MONTH OF JULY 2016	10, 10B, 10C, 10D, 10E, 10F
	CST/TN VAT: MONTHLY RETURNS AND PAYMENT OF CST AND VAT COLLECTED DURING JULY 2016  IF THE MODE OF PAYMENT OF VAT AND CST IS BY CASH/CHEQUE/DD	FORM 1 / FORM I
21-08-16	ESI: DEPOSIT OF ESI CONTRIBUTIONS AND COLLECTIONS FOR JULY 2016
22-08-16	CST/TN VAT: MONTHLY RETURNS AND PAYMENT OF CST AND VAT COLLECTED DURING JULY 2016 IF THE MODE OF PAYMENT OF VAT AND CST IS BY ELECTRONIC MODE	FORM 1 / FORM I
	INCOME TAX : DUE DATE FOR ISSUE OF TDS CERTIFICATE FOR TAX DEDUCTED UNDER SECTION 194-IA IN THE MONTH OF JULY 2016	16B
25-08-16	KERALA VAT: MONTHLY RETURN OF  EVERY DEALER WHOSE ANNUAL NET TAX PAYABLE FOR THE PRECEDING YEAR WAS LESS THAN RS.2 LAKHS FOR THE MONTH OF JULY 2016	10, 10B, 10C, 10D, 10E, 10F
30-08-16	INCOME TAX: DUE DATE FOR DEPOSIT OF TAX DEDUCTED AT SOURCE UNDER SECTION 194-IA FOR THE MONTH OF JULY 2016	26QB
31-08-16	INCOME TAX: DUE DATE FOR FURNISHING ANNUAL INFORMATION RETURN OF FINANCIAL TRANSACATION UNDER SECTION 285BA(1) FOR THE FINANCIAL YEAR 2015-16	61A

 

CBDT vide order no.F No. 225/195/2016/ITA.II dated 29th July, 2016, extended to due date of filing income tax returns for tax payers who are required to be file their Income Tax Retruns on or before 31-07-2016 to 05-08-2016.

Please click the link below to see the order.

https://drive.google.com/file/d/0BwfaVqFwg9yDa0Jkam9ZekZNNjg/view?usp=sharing

As per Income Tax Act, the due date to file Income Tax Returns for Individuals and those whose accounts are not subject to any audit fall on 31^st July. For the Financial Year 2015-16, the due date for filing Income Tax Return for company and for other assesses whose accounts are subject ot audit will be 30^th September, 2016.

Statutory Implications for non-filing of Income Tax Returns within due date

1. Interest @ 1% per month will be applicable on the balance tax payable from the due date to the actual date of filing;
2. In case you had committed any errors or mistakes while filing original return, revised return can be files only if you had filed the original return on or before the due date;
3. The benefit of carry forward of losses under the head “Capital Gains” and “Business Losses” will be available only if you file the return before the due date;
4. Delay in filing could mean having let go of interest due on tax refund if any; and
5. If a person required to file Return u/s 139(1) of Income Tax Act, fails to file Return before the end of the relevant Assessment Year, i.e 31st March 2015 a penalty of Rs. 5,000 shall be levied. Means you can file return for March 14 ending till 31st March 2016.

Other Advantages

1. One of the eligibility criteria for availing bank loan from Banks is Income Tax Returns and other related documents;
2. Persons who are currently in employment, who wants to become entrepreneurs in future must file their Income Tax Returns. For availing Bank Loan, Bank will ask for the individual tax returns of Partners/Directors in case of Partnership Firm /Company; and
3. While applying for VISA, most the Country’s Embassy will ask for Income Tax Returns for past few years.

 

KNOW YOUR DUE DATES
Jul-16
DATE	COMPLIANCE REQUIRED	FORM NO. / CHALLAN NO.
06-07-15	EXCISE: E-PAYMENT OF EXCISE DUTY FOR JUNE 2016	GAR 7
	EXCISE: E-PAYMENT OF EXCISE DUTY FOR THE QUARTER ENDING 30TH JUNE 2016 BY SSI’s
	SERVICE TAX: E-PAYMENT OF SERVICE TAX FOR QUARTER ENDING 30TH JUNE 2016 BY NON CORPORATES
	SERVICE TAX: E-PAYMENT OF SERVICE TAX FOR JUNE 2016 BY CORPORATES
07-07-16	INCOME TAX: DEPOSIT OF TDS/TCS COLLECTED DURING JUNE 2016	281
	INCOME TAX: DUE DATE FOR FURNISHING OF CHALLAN-CUM-STATEMENT IN RESPECT OF TAX DEDUCTED UNDER SECTION 194-IA IN THE MONTH OF JUNE 2016	26QB
10-07-16	EXCISE: MONTHLY RETURNS FOR PRODUCTION AND REMOVAL OF GOODS AND CENVAT CREDIT FOR JUNE 2016	ER 1
	EXCISE: MONTHLY RETURNS OF EXCISABLE GOODS MANUFACTURED & RECEIPT OF INPUTS & CAPITAL GOODS BY UNITS IN EOU, STP, HTP FOR JUNE 2016	ER 2
	EXCISE: QUARTERLY RETURNS OF ASSESSEES PAYING 1% OR 2% EXCISE AND NOT MANUFACTURING ANY OTHER GOODS FOR QUARTER ENDING JUNE 2016	ER 8
	EXCISE: MONTHLY RETURNS OF INFORMATIONS RELATING TO PRINCIPAL INPUTS FOR JUNE 2016 BY MANUFACTURER OF SPECIFIED GOODS WHO PAID DUTY>=RS. 1 CRORE DURING FY 2015-16 BY PLA/CENVAT/BOTH	ER 6
15-07-16	KERALA VAT: MONTHLY RETURNS OF EVERY DEALER WHOSE ANNUAL NET TAX PAYABLE FOR THE PRECEDING YEAR WAS RS.10 LAKHS & ABOVE FOR THE MONTH OF JUNE 2016	10, 10B, 10C, 10D, 10E, 10F
	EXCISE: QUARTERLY RETURN OF CENVAT BY FIRST STAGE AND SECOND STAGE DEALERS FOR QUARTER ENDING JUNE 2016	ER 3
	INCOME TAX: QUARTERLY STATEMENT IN RESPECT OF FOREIGN REMITTANCES BY AUTHORISED DEALERS FOR QUARTER ENDING JUNE 2016	15CC
	INCOME TAX: QUARTERLY STATEMENT OF TCS FOR QUARTER ENDING JUNE 2016	27EQ
	EPF: PAYMENT OF EPF CONTRIBUTION FOR JUNE 2016
	EPF: CONSOLIDATED STATEMENTS OF DUES AND REMITTANCES UNDER EPF AND EDLI FOR JUNE 2016	12A
	EPF: MONTHLY RETURNS OF EMPLOYEES WHO JOINED/LEFT THE ORGANISATION IN JUNE 2016	5/10
20-07-16	KERALA VAT: MONTHLY RETURNS OF EVERY DEALER WHOSE ANNUAL NET TAX PAYABLE FOR THE PRECEDING YEAR WAS MORE THAT RS.2 LAKHS AND LESS THAN RS.10 LAKHS FOR THE MONTH OF JUNE 2016	10, 10B, 10C, 10D, 10E, 10F
	CST/TN VAT: MONTHLY RETURNS AND PAYMENT OF CST AND VAT COLLECTED DURING JUNE 2016  IF THE MODE OF PAYMENT OF VAT AND CST IS BY CASH/CHEQUE/DD	FORM 1 / FORM I
21-07-16	ESI: DEPOSIT OF ESI CONTRIBUTIONS AND COLLECTIONS FOR JUNE 2016
22-07-16	CST/TN VAT: MONTHLY RETURNS AND PAYMENT OF CST AND VAT COLLECTED DURING JUNE 2016 IF THE MODE OF PAYMENT OF VAT AND CST IS BY ELECTRONIC MODE	FORM 1 / FORM I
	INCOME TAX : DUE DATE FOR ISSUE OF TDS CERTIFICATE FOR TAX DEDUCTED UNDER SECTION 194-IA IN THE MONTH OF JUNE 2016	16B
25-07-16	KERALA VAT: MONTHLY RETURN OF  EVERY DEALER WHOSE ANNUAL NET TAX PAYABLE FOR THE PRECEDING YEAR WAS LESS THAN RS.2 LAKHS FOR THE MONTH OF FEBRUARY 2016	10, 10B, 10C, 10D, 10E, 10F
30-07-16	INCOME TAX: QUARTERLY TCS CERTIFICATE IN RESPECT OF TAX COLLECTED BY ANY PERSON  FOR QUARTER ENDING JUNE 2016	27D
31-07-16	INCOME TAX: QUARTERLY RETURN ON NON-DEDUCTION OF TAX AT SOURCE BY A BANKING COMPANY FROM INTEREST ON TIME DEPOSITS IN RESPECT OF THE QUARTER ENDING 30TH JUNE 2016	26QAA
	INCOME TAX: QUARTERLY STATEMENT OF TDS  FOR QUARTER ENDING JUNE 2016	24Q/26Q
	INCOME TAX: STATEMENT OF TDS FROM INTEREST, DIVIDEND OR ANY OTHER SUM PAYABLE TO NON-RESIDENT FOR QUARTER ENDING JUNE 2016	27Q
	INCOME TAX: STATEMENT BY SCIENTIFIC RESEARCH ASSOCIATION, UNIVERSITY, COLLEGE OR OTHER ASSOCIATION OR INDIAN SCIENTIFIC RESEARCH COMPANY AS REQUIRED BY RULES 5D, 5E AND 5F (IF DUE DATE FOR SUBMISSION OF RETURN ON INCOME IS JULY 31, 2016)
	INCOME TAX: DUE DATE FOR DEPOSIT OF TAX DEDUCTED AT SOURCE UNDER SECTION 194-IA FOR THE MONTH OF JUNE 2016	26QB
	INCOME TAX: APPLICATION EXERCISING THE OPTION AVAILABLE UNDER EXPLANATION TO SECTION 11(1) TO APPLY INCOME OF PREVIOUS YEAR IN THE NEXT YEAR OR IN FUTURE (IF THE ASSESSEE IS REQUIRED TO SUBMIT RETURN OF INCOME ON OR BEFORE JULY 31,2016)	9A
	INCOME TAX: DUE DATE OF FILING INCOME TAX  FOR ALL ASSESSEES WHOSE ACCOUNTS ARE NOT LIABLE TO GET AUDITED UNDER ANY STATUTES FOR FY 2015-16	ITR 1,2,3,4,5,6 & 7
	INCOME TAX: STATEMENT TO BE FURNISHED TO ACCUMULATE INCOME FOR FUTURE APPLICATION UNDER SECTION 10(21) OR 11(2) (IF THE ASSESSEE IS REQUIRED TO SUBMIT RETURN OF INCOME ON OR BEFORE JULY 31,2016	10

 

 

 

 

 

 

 

Disclaimer : User are requested to verify the validity of the content before taking any informed decisions.