Remember the March 31, 2021 Tax Deadlines

• Link your PAN and Aadhaar:

March 31 is the last date to link aadhaar with your PAN cards. Nonlinking of this will make your PAN inoperative and it will be assumed that your PAN card was not furnished for important transactions. Also keep in mind, in such cases, income tax returns will not be processed by the income tax department. This deadline has already been extended several times and it is not likely to be extended again

• File belated tax returns for FY 2019-20:

March 31 is the last date to file your belated tax returns in case you have not already filed them. This is also the last date to file your revised tax returns.  The income tax officer can still under Section 119(2)(b) consider a claim for exemption, deduction or refund. You can also apply for a condonation of delay for filing your returns after the deadline. You will need to remember that condonation can only be granted on a case-to-case basis.

• Payment of TDS / TCS:

Due to Covid 19, the income tax department had extended the due dates for filing of tax deducted and source and tax collected at source returns for the first and second quarter of FY 2020-21 until March 31, 2021. These returns need to be filed before the due date

• Vivad Se Vishwas Scheme:

The deadline for the above scheme has been extended to March 31, 2021. If you have disputed tax claims and would like to take advantage of the provisions of this scheme, now is the time to do it and close out your long pending litigations with the income tax department.