Hello friends! Remember me? I am your friend, Tax Toto. September is the month of Advance Tax payment and as your well-wisher, this brings me here today to tell you about not only Advance Tax payment due date but other important dates as well. I am here to help you fulfill your tax related duties on time so that you don’t face any trouble later on. Therefore, having the knowledge of all the important dates associated with taxes can be a savior for you. So I bring you a list of all the important dates that you should remember this month.
This date is important for all my dear friends who hold a TAN account. You guys are responsible for deducting or collecting tax from someone so I want to remind you that 7th of September is the due date to deposit deducted tax to tax department. In fact, 7th is the due date for depositing TDS every month. TDS deducted for a particular month must be deposited to the Income Tax Department on or before 7th of the same month.
I hope that you paid the first installment of Advance Tax on time. Now, it is time to be prepared to pay the second installment. The due date to pay the same is 15th of September, 2016. Make sure that you pay all the four installments of Advance Tax on time to avoid penalty.
To know more about Advance Tax (like deadlines, penalties and benefits, etc.) you can read this guide on Advance Tax.
Every TAN account holder is also required to issue certificate of tax deducted known as Form 16B to the taxpayer. Government gives you 15 days to get this job done. The due date for the issuance of TDS certificate is 22nd September for tax deducted for the same month. Keep in mind that you have to issue TDS certificate for every month on or before 22nd of that month.
Good bye for now! I am running late, I have so much work to do but I’ll be back soon with some more interesting information about taxes.