It is that time of year when the taxpayer must put the best foot forward to ensure that they don’t miss the most important date of their year, i.e., March 31 of the financial year 2020-21. To make sure they do not have to pay the heavy penalty by missing the date they must wind up their task before the deadlines expiring on March 31. For general data, the monetary year is tallied between April 1 and March 31, a period during which duty is determined on the pay acquired by individuals. Notwithstanding, there are a few monetary cut-off times that will terminate on March 31, 2021. Here is a rundown of all monetary assignments which should be performed by citizens before March 31.
Linking Of The Pan-Aadhaar: Because of the Covid pandemic, the Central government has stretched out the cut-off time to interface PAN with Aadhaar to March 31, 2021, from the past cut-off time of June 30, 2020. Notwithstanding, if the PAN is not connected with Aadhaar number by March 31, 2021, at that point the PAN will get defective from April 1, 2021. After that you will not manage any monetary exchange once his/her PAN gets broken.
Filing Of Revised ITR: on the off chance that you have not recorded the reconsidered or deferred personal expense form for FY 2019-20, at that point the cut-off time for recording it will lapse on March 31, 2021. Henceforth, you should record the re-examined ITR before March 31. On the off chance that you record after this, you may need to pay a late expense of up to Rs 10,000. In any case, assuming your pay is up to Rs 5 lakh, you should pay an expense of Rs 1,000 in particular.
Filing For Advance Tax: according to refreshes from the annual expense laws, if a citizen has an assessment obligation of more than Rs 10,000 per year, at that point they are responsible to pay the advance assessment in four portions. Walk 15 is the cut-off time for paying the fourth portion of the advance expense for the monetary year 2020-2021.
LTC Cash Voucher Scheme: according to refreshes from the Central government, it is compulsory to present the bill by 31 March 2021 in the right configuration to profit charge under LTC Cash Voucher Scheme. It is additionally important to have the GST sum and number. The plan was declared by the Central Government in October 2020.