Income Tax Return filing 2019: Know your tax calendar, three important dates approaching fast
Income Tax Return filing 2019: While you prepare to file your income tax return, you should also keep in mind the important dates.
Income Tax Return Filing 2019: Tax filing may appear burdensome to you but it is mandatory. Either you are a salaried employee or a business person, you need to file ITR. As per the tax department, "Every individual has to file the return of income if his total income (including income of any other person in respect of which he is assessable) without giving effect to the provisions of section 10(38), 10A, 10B or 10BA or Chapter VIA (i.e., deduction under section 80C to section 80U), exceeds the maximum amount which is not chargeable to tax i.e. exceeds the exemption limit".
While you prepare to file your income tax return, you should also keep in mind the important dates. A tax calendar can help you get prepared ahead of the crucial dates. As the February nears its end, you should know these three important dates that will help you in your tax planning next month:
1. Friday, March 15, 2019: The date of submission of the fourth installment of advance tax for the assessment year 2019-20
2. Friday, March 15, 2019: The due date for payment of the whole amount of advance tax in respect of the assessment year 2019-20 for assessee covered under the presumptive scheme of section 44AD/ 44ADA
3. Sunday, March 31, 2019: The due date for linking of Aadhaar number with PAN
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It is notable that the income tax department has made it mandatory to link PAN with Aadhaar for those who wish to file their income tax return. "Aadhaar-PAN linking is mandatory now which has to be completed till 31.3.2019 by the PAN holders requiring the filing of Income Tax Return," says the IT Department.