From linking PAN-Aadhaar to filing revised ITR, don't forget to complete these tasks before March 31

The Central government had extended the deadline to link PAN Card with Aadhaar to March 31, 2021, from the previous deadline of June 30, 2020 because of the COVID-19 pandemic. However, if the PAN is not linked with the Aadhaar number by March 31, 2021, then the PAN will become inoperative from April 1, 2021.

The deadline for filing the revised or delayed income tax return for FY 2019-20 expires on March 31, 2021. Hence, you must file the revised ITR before March 31. If you file after this, then you may have to pay a late fee of up to Rs 10,000. However, if your income is up to Rs 5 lakh, then you will have to pay a fee of Rs 1,000 only. 

As per updates from the income tax laws, if a taxpayer has a tax liability of more than Rs 10,000 a year, then they are liable to pay advance tax in four instalments. March 15 is the deadline for paying the fourth instalment of advance tax for the financial year 2020-2021.

Central government employees will have to submit the bill by 31 March 2021 in the correct format to avail tax under LTC Cash Voucher Scheme. It is also necessary to have the GST amount and number. The scheme was announced by the Central Government in October 2020.

The Centre had announced the Emergency Credit Line Guarantee Scheme while announcing the self-reliant India package under which, the Centre has provided loans without guarantee to traders and especially small traders during the pandemic. The deadline for disregarding this scheme is 31 March 2021.

Under the ‘Vivad Se Vishwas’ scheme, the last was filing declaration has been extended to March 31, 2021. With an aim to reduce pending income tax litigation to generate timely revenue for the government and benefit taxpayers, the Direct Tax 'Vivad se Vishwas' Act, 2020 came into being on March 17, 2020.