[1:08 PM, 3/4/2020] Sumedh: The Income Tax Department has, through a tweet, listed important tax-related dates that taxpayers should know for the month of March.
Here’s a look at the deadlines that fall in the month of March.
ITR Accredited Filing
March 31, 2020 is the last date for ITR for the financial year 2018-19. If a billed return is not filed by this date, a person will not be able to file his ITR if asked by the Income Tax Department.
If while filing your tax return for FY 2018-19, you have made a mistake or have recently discovered a mistake, it is important that you rectify it. This can be done by filing an amended return. Then it can be improved
The last date for filing revised returns for the financial year 2018-19 is March 31, 2020. If you miss this date, you will not be able to file a revised return.
Payment of advance taxes
March 15, 2020 is the last date for payment of the fourth and final advance tax installment for the financial year 2019-20. This date also applies to those individuals who fall under 44AD and 44ADA under presumptive taxation scheme.
If advance tax is paid after this date, interest will be levied.
It is important for the taxpayer to remember.