Learn The Importance of 31st March 2019 Deadline

31st March 2019 imprints the finish of Financial Year 2018-19. Be that as it may, it additionally carries with itself a progression of imperative and critical money related due dates. Each citizen will deal with these due dates and get ready well ahead of time to maintain a strategic distance from punishments and notification from the Income Tax Department.

Last date to File ITR for the Financial year 2017-18

For the Financial Year, 2018-19 or Assessment Year 2018-19 the due date to record ITR was 31st July 2018. It was additionally stretched out to 31st August 2018. However, the overdue return can at present be recorded by the individuals who have missed documenting Income Tax Return till 31st March 2019.

The recording of overdue return can likewise draw in you Late Fee u/s 234F upto Rs 10,000 in these two circumstances

Annual Income of Taxpayer Late Fee u/s 234F
2,50,001 to 5,00,000 Rs 1,000
Above 5,00,000 Rs 10,000

The last date to Revise ITR

On the off chance that you have committed some obvious error or exclusion while documenting your Income Tax Return for the Financial Year 2017-18 ( AY 2018-19). At that point it is your last opportunity to change the ITR by 31st March 2019.

Last Date to Revise ITR for the Financial Year 2016-17

In the event that you have just documented your ITR for Financial Year 2016-17 (AY 2017-18) and is happy to roll out a few improvements you can do it till 31st March 2019. Likewise, an essential point to note here is that overdue return recorded in regard of that year till Financial Year 2017-18 (AY 2018-19) can likewise be reconsidered till the said date.

Aadhar should be connected to PAN by 31st March 2019

According to the declaration made by the Hon’ble Supreme Court, each citizen who is recording Income Tax Return is required to obligatorily connect Aadhar card with its PAN (Permanent Account Number) by 31st March 2019.

Last Date to Tax Planning

On the off chance that you are among the individuals who are trusting that the last time will make speculations and arrangement their assessments for the current Financial Year. Which implies for FY 2018-19 (AY 2019-20) for example for the salary you have earned between first April 2018 to 31st March 2019. At that point, you should make charge sparing ventures till 31st March 2019 so as to benefit the most out of assessment arranging. Missing the due date can result in higher assessment surge from your pocket.

[frontpage_news widget=”879″ name=”Certicom – A Group of Chartered Accountants – Articles”]