5 Things To Do Before 31st March 2019 Deadline

5 Things To Do Before 31st March 2019 Deadline (3 days to go)

31st March 2019 is the end of Financial Year 2018-19 (A.Y 2019-20). But, it also brings with itself a series of very important and crucial financial deadlines that most of need to comply within order to fulfil our duty as a contributor to our country's progress. 

Every taxpayer shall take care of these deadlines and prepare well in advance to avoid penalties and notices from the Income Tax Department.

With just a few days left on the calender, here are things to be taken care of at the earliest possible-

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

For the Financial Year 2017-18 or Assessment Year 2018-19 the due date to file ITR was 31st July 2018. It was further extended to 31st August 2018. But, the belated return can still be filed by those who have missed filing Income Tax Return till 31st March 2019.

The filing of belated return will also attract Late Fee u/s 234F upto Rs 10,000 in these two situations

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

2) The last date to Revise ITR for FY 17-18

If you have made some apparent error, mistake or omission while filing your Income Tax Return for the Financial Year 2017-18 ( AY 2018-19). Then it is your last chance to revise the ITR by 31st March 2019.

3) Last Date to Revise ITR for the Financial Year 2016-17
If you have already filed your ITR for Financial Year 2016-17 (AY 2017-18) and are willing to make some changes in it, you can do it till 31st March 2019.

4) Aadhar needs to be linked to PAN by 31st March 2019

As per the announcement made by the Hon’ble Supreme Court, every taxpayer who is filing Income Tax Return is required to mandatorily link Aadhar card with its PAN (Permanent Account Number) by 31st March 2019.

5) Dead-End to Tax Planning

If you are amongst those who are waiting for the last moment to make investments and plan their taxes for the current Financial Year, which means for FY 2018-19 (AY 2019-20); i.e. for the income you have earned between 1st April 2018 to 31st March 2019; then, you must make tax-saving investments by 31st March 2019, in order to avail the most out of tax planning. 
Missing the deadline can result in higher tax outflow from your pocket for the financial year 2018-19.