What Is This Module For?
The Tax Calendar module tracks all direct tax payment deadlines — advance tax instalments, TDS deposits, and self-assessment tax — and helps you generate Challan 280, 281, and 282 payment records.
Key Deadlines
- Advance Tax (Challan 280): 15th June (15%), 15th September (45%), 15th December (75%), 15th March (100%) of estimated annual tax.
- TDS Deposit (Challan 281): 7th of the following month for most payments; 30th April for March deductions.
- TCS Deposit (Challan 282): 7th of the following month.
Interest: Non-payment or short-payment of advance tax attracts interest under Sections 234B and 234C of the Income Tax Act 1961.
Step-by-Step Guide
- Go to Tax Calendar in the sidebar.
- Enter your estimated annual tax liability — the module calculates your advance tax schedule automatically.
- For each instalment, generate a Challan 280 record with BSR code, date of payment, and amount paid.
- For TDS, enter deductions made each month and generate Challan 281 records.
- The calendar dashboard shows all upcoming deadlines in red/yellow/green based on days remaining.
- Mark each payment as completed once you have paid through the Income Tax portal.
Common Mistakes to Avoid
- Missing the September advance tax deadline — The 45% instalment by 15th September is often missed. Shortfall triggers Section 234C interest.
- Not depositing TDS by the 7th — Late TDS deposit attracts 1.5% per month interest under Section 201(1A).
Frequently Asked Questions
Q: Does this module cover GST payments too?
A: GST payments are tracked in the GST module. The Tax Calendar covers direct taxes — income tax, TDS, and TCS.