The Financial year is coming to a close as of 31st March 2022.
There are certain compliances that need to be done before the year-end so as to avoid late fees, interest, penalties, etc.
Here we will look at what are the compliances which need to be done before 31st March 2022 in respect of Income Tax.
1. The last date for linking PAN to Aadhar ends on 31st March 2022. So pls check whether your PAN is linked to Aadhar. If not, do it at the earliest. Note that your PAN will become invalid if not linked to Aadhar.
Check your PAN aadhar link Status here
For linking PAN aadhar - visit here
2. The last date for filing a belated Income tax return also ends on 31st March 2022. So if have missed the ITR filing for the A.Yr.2021-22, do it now immediately. Please note that a late fee will be levied for filing belated ITR. (which ranges from 1000 to 5000 depending on your Income). Still don't miss filing your ITR as it can lead to notices etc. later.
Still not filed your ITR for A.Yr.2021-22 - File now
3. The last date to file a Revised Income Tax return for the A.Yr.2021-22 also ends on 31st March 2022. So in case there is any mistake in the original ITR filing or you have received notice of defective return etc., please revise your return before 31st March 2022. Please note that after 31st March,22 you will not be able to revise the Income Tax return (unless there is a date extension)
Want to Revise the Income Tax return for A.Yr.2021-22 - Do it now
4. If any E-proceedings are pending in your case i.e. Scrutiny Asstt. or Section 148 assessment which is getting time-barred on 31st March,22, please respond to the notices, etc. so as to avoid ex-parte and best judgment assessments. You can check the status of e-proceedings by logging in to your IT account.
Need any help in E-proceedings ? Contact us
