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.
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Please advise me what can I do if f.y.2016-17 income tax return not filled up to 31.03.2018
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 .
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.
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
Well explained.