“Extend the last date for income tax returns for (FY 18-19) from 31st March 2020 to 30th June 2020.” Note: CBDT department has revised the due date till 30th September 2020, check notification. “Aadhaar-PAN linking date to be extended from 31st March, 2020 to 30th June, 2020 (Extended till 31st March 2021).”

Is Financial Year and previous year same?

“Previous Year” is defined in Section 3 of the Income-tax Act, 1961 to mean the financial year immediately preceding the assessment year. Previous Year is same as Financial Year. The previous year is used in tax terminology whereas a financial year is used in other economic matters.

What do you mean by previous year in income tax?

As per Section 3 of the Income Tax Act, 1961, Previous Year is the Year immediately preceding the assessment year. Previous year is also known as Financial Year. It basically means the period starting from April 1 and ending on March 31 of the next year.

When do I have to file my tax return for 2020?

Filing of belated/revised return of income for the assessment year 2020-21 for all assessee (provided assessment has not been completed before May 31, 2021) The due date for filing of belated/revised return of income for the assessment year 2020-21 has been extended from March 31, 2021 to May 31, 2021 vide Circular 08/2021, dated 30-04-2021.

When is due date for payment of advance tax?

15 March 2021 -. Due date for payment of whole amount of advance tax in respect of assessment year 2021-22 for assessee covered under presumptive scheme of Section 44AD / 44ADA. 17 March 2021 -. Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of January, 2021.

Which is the latest date to file income tax return?

In view of the constraints due to the Covid pandemic & to further ease compliances for taxpayers, CBDT extends the due dt for filing of Income Tax Returns for FY 2018-19 (AY 2019-20) from 31st July, 2020 to 30th September, 2020,vide Notification in S.O. 2512 (E) dt 29th July, 2020.

When to file belated income tax return 2018-19?

Another important point to note is that from the Assessment Year 2018-19, the time limit for filing a revised return rectifying any omission, error etc., made in the original tax return has also been reduced and such revision has to be done on or before the end of the relevant AY.