5 Things You Have To Do Before 31.03.2019

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5 Things You Have To Do Before 31.03.2019

5 Things You Have To Do Before 31.03.2019

There are few days left in the financial year. There are many things that you need to do before end of March 31, 2019. On your finance, investment and tax returns. The Income Tax Department and other department is kept in view of your investment and tax returns. If you do not work on fixed deadlines, you may have trouble or pay penalties.

Let’s know the five things that must be done by March 31.

  • Income tax return for the financial year 2017-18

 

If you have not yet filled Income Tax Return (ITR) of FY 2017-18 and if you file your ITR from 1 January 2019 to 31 March 2019, then you will have to give a penalty of Rs 10,000. Though the government has kept the maximum amount of one thousand rupees for taxpayers with income of Rs 5 lakh for the purpose of providing relief to the small taxpayers. If you made a mistake in the Income Tax Return of the Financial Year 2017-18 (Assessment Year 2018-19), then the last date for re-filling the return i.e. revised return is also 31 March 2019

  • Pan-base linking

 

The deadline for linking PAN card with Aadhaar card has been increased to 31 March 2019. If you have not done this necessary work within the new deadline, then your PAN will be considered unnecessary Income Tax Act.

  • Can’t sell shares

If you still have a share in physical form, then convert it in the dematarilasied form before April 1, 2019. If you have not made the stock in demat within this time frame, then you will not be able to sell it.

  • Prime Minister’s Accommodation Scheme

If you are thinking of buying a house and want to take advantage of the PMHA, don’t delay. The last date for availing benefits under the Prime Minister’s Housing Scheme is 31 March 2019.

  • Investment proof

If you want a tax deduction under the 80C, you will have to submit your investment proceeds till March 31. You have to make an investment to deposit your investment proceeds. So that you can take advantage of tax exemption.

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