Yes, you heard it right. This is a warning bell, It’s time to check whether your income tax return is filed or not for Assessment Year 2019-2020.

31st March’2020: The last date for Income Tax return u/s 139(4) for Financial Year 2018-19.

So, this will be last chance to file the Income Tax return else you have to face the consequences for non-filing of the income tax return.

As we all are aware that as per amended Section 139(4) after Finance Act’2016;

‘Any person who has not furnished a return within the time allowed to him under sub-section (1), may furnish the return for any previous year at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier’.

E.g: Income Tax Return for the Financial Year 2018-19 can be furnished by the end of the relevant assessment year. The relevant assessment year for the Financial Year 2018-19 is year 2019-20.

Thus, the maximum time to file the Income Tax Return is 31st March’ 2020 for the Financial Year 2019-20.

The TIME BOMB of 31st March’2020 is approaching. Hence, get the Income Tax Return filed for the Financial Year 2018-19 to avoid any adverse consequences of non-filing of the income tax return.

Author Bio

Qualification: CA in Practice
Company: Tarun Harish Kumar & Co.
Location: Delhi, New Delhi, IN
Member Since: 25 Apr 2017 | Total Posts: 42
A passionate Chartered Accountant having practical exposure of working with the Start-ups and NGOs. I also do have an interest in blogging and teaching. I am active blogger and authored various blogs on Taxation matters, that have been published in the print media and leading newspapers as well as w View Full Profile

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7 Comments

  1. keerthi says:

    I have to reverse an itr which is filed on 31.03.2018 for the AY 16-17 & AY 17-18 what is the procedure whether I can able to reverse .

  2. P.K.Subramanian says:

    I am Sr.citizen,aged 85 years. My annual income is about 1.5 lakhs and a pension of ₹18750/-. Do I have to file the Return to claim refund of ₹200/- deducted by the bank by oversight. Thanks in advance.

  3. P.P.Ramayya says:

    I am a senior citizen and pensioner, My annual income from pension and interest from Fixed deposits is only Rs 2,60,000/-. am I required to file the income tax returns

    1. TARUN786 says:

      Sir,
      ITR is required to be filed if the Gross Total Income income exceeds Maximum amount not chargeable to Tax. For Senior Citizen exemption limit is 3 Lakh. However, if you have TDS deducted on FDR interest, you should file the ITR to claim the refund.

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