TAX CONSULTING

   Below are some important Tax Dates:

March 31:The end of the financial year.The last date for making your investments in tax-saving instruments such as the
  Public Provident Fund (PPF) and the National Savings Certificate (NSC) that lets you claim a rebate under section 88 of
  the Income Tax Act.

  March 31 is also the last date for you to submit to your employer your rent receipt and bills for reimbursement of medical
  and conveyance allowances. If you�re about to sell long-term capital assets, you should hold them. If you sell them even a
  day later on April 1, you will get the benefit of indexation for the next year. This means your capital gains will be lower, and
  you�ll pay less tax.

April 1:The new financial year begins.For the taxman, April 1 (and not January 1) is the beginning of the new year.
  Therefore,income earned (whether or not received) on or after this date will be taxed in the current year. You must factor in
  your salary increment for the new financial year while planning your tax-saving investments.

April 30:Deadline for getting your TDS certificate.By now you should have received from your employer a certificate
  detailing the tax deducted at source (TDS) on your income for the year. Form 16, as it is called is an important document,
  so if you haven�t got it, ask for it. While filing your tax returns, you must attach Form 16 (in original) as proof that your
  employer has deducted tax at source.

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Give your employer an estimate of the tax saving investments you plan to make during the year (April to March), so she can
  factor in the rebate while making the monthly deductions. Otherwise, she may deduct more tax than you�re required to
  pay, and you�d have to claim a refund from the income tax department. That invariably involves a bit of a runaround and
  agonising delays and encounters with officialdom. Best avoided.

July 31:Deadline for filing returns for all non-corporate assessees including salary tax payers not covered under October 31   deadline.

October 31:Deadline for filing returns for all corporate assessees and non corporate assessees whose books of accounts
  are required to be audited, or a working partner of such firm, or those covered under the one-by-six scheme.

September 15, December 15 and March 15:Advance tax payment schedule. The taxman wants you to pay your taxes in
  instalments through the year, not in a lumpsum at the year-end. If your salary is your only source of income, chances are
  your employer is already deducting advance tax at source. But if you have income from other sources, you may need to pay
  advance tax in instalments.

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  For instance, if your total tax liability for the year on income from salary, house property, capital gains or other sources is Rs   10,000, you should pay Rs 3,000 in advance tax by September 15, an additional Rs 3,000 by December 15, and the
  balance Rs 4,000 by March 15. While computing your advance tax liability, you must factor in the tax deducted at source
  by your employer (and anyone else who made payments to you during the year).

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