The deadline for linking PAN card to Aadhaar card is 31 March 2021. If you do not link the PAN card to the Aadhaar card by this date, then your PAN number will be deactivated. Once the PAN is deactivated, you will not be able to do any major transactions.
The financial year 2020-2021 is about to end and in such a situation it is necessary for you to complete all your important works by 31 March. There are many such works which are related to your income tax, from PAN card and GST. Be it the matter of linking the PAN card with Aadhaar or trying to save tax, 31 March is the last date for many of your big works.
If you miss on this date, then you may have to pay a big penalty. Due to Corona virus epidemic, the central government had extended the deadline of various schemes and various rules till March 31, 2021. Significantly, many major changes in the income tax system will come into effect from April 1, 2021.
Income tax return
If you have not yet filed the Revised or Delayed Income Tax Return (ITR) for the financial year 2019-20, then March 31 is the last date. On filing a delayed income tax return, you may have to pay late fine of up to Rs 10,000. However, if your income is up to Rs 5 lakh, then you have to pay a fee of Rs 1,000 only.
GST Return Filing
The deadline for filing of annual GST returns for the financial year 2019-20 is till 31 March 2021. In view of the problem of tax payers, the Finance Ministry had decided to extend the date of filing GSTR-9 and GSTR-9C.
Advance tax filing
If you have not done advance tax, then pay it. If you have got tax up to 10,000, then if you forget to pay it by March 31, then you may have to pay it with interest.
Linking PAN to Aadhaar
The deadline for linking PAN card to Aadhaar card is 31 March 2021. If you do not link the PAN card to the Aadhaar card by this date, then your PAN number will be deactivated. Once the PAN is deactivated, you will not be able to do any major transactions.
Pradhan Mantri Awas Yojana Credit Linked Subsidy Scheme
If you want to avail the benefit of Credit Linked Subsidy Scheme under the Pradhan Mantri Awas Yojana, then it should be kept in mind that the deadline for applying subsidy for the MIG-I and MIG-II categories is ending on 31 March 2021.
The last date to avail the credit subsidy under the Pradhan Mantri Awas Yojana is 31 March 2021. Under this, credit link subsidy is available on home loans. People with income ranging from Rs 6 lakh to Rs 18 lakh can avail this scheme.
Double taxation exemption
Due to Corona, non-resident Indians (NRIs) and foreign nationals had to stay in India for a long time. In such a situation, the sword of double taxation is hanging on them for the financial year 2020-21. Such people have been asked by CBDT to give information by 31 March 2021. The last date for submission of Form-NR is 31 March only.
