Complete these things before March 31 to avoid financial stress later

The end of the financial year 2018-19 is just a few days away. The final date of the financial year i.e. 31 March is special in many cases. Actually, until March 31, there are many things that are very important in terms of the common man.

Business Desk:  The final date of the financial year i.e. 31 March is special in many cases. Actually, until March 31, there are many things that are important for the Indian Tax Payer. If the work is not dealt with until the deadline of March 31, then you may have to face trouble. It is, therefore, necessary that these works should be completed in time.

Link PAN Card to Aadhaar Number

The last date for linking PAN and Aadhaar number is March 31, 2019. The government had extended it to 31 March last year after June 30, 2018. It is worth noting that the required work of filing income tax returns is done through PAN card. If you have not linked it to the Aadhar Card before March 31, then many of your work can get stuck. Apart from this, if you have not linked your PAN CARD to the Aadhar Card before March 31, your PAN Card will be canceled under Section 139AA of Income Tax Act.

Submit GST annual return

The last date for submission of returns to the Goods and Services Tax (GST) is also 31 March 2019. The government’s date has also been increased from 31 December last year to 31 March. Businessmen can submit annual returns by March 31. In the annual return form, the units registered under GST have to give complete information about the sale, purchase and input tax credit (ITC).

Select TV channel pack before March 31

According to TRAI’s new guidelines, cable and DTH consumers will have to select their favorite channel before March 31, 2019. If you do not do this, your TV will be closed after March 31. The last date for selecting the first TV channel was on December 29 but it was extended to Jan 31 but giving the subscribers a slight discount, the last date of the favorite channel has been 31 March 2019.

Last chance to file an ITR for 2017-18

If a taxpayer has not filed a return of 2017-18 then its dead line is also 31 March 2019. However, those who pay the return will have to pay a penalty of Rs.10,000. For the purpose of providing relief to small taxpayers, the government has kept the maximum amount of penalty for Rs.1000 for the taxpayers with income up to Rs. 5 lakhs. If you made a mistake in the Income Tax Return of the Financial Year 2017-18 (Assessment Year 2018-19), then the last date for improving it is also 31 March 2019.

Dematerialize physical shares

March 31 is important for those who invest in the stock market. If you still have a share in physical form, then convert it to DEMAT by March 31, 2019. If the shares are not converted into DEMAT by March 31, then according to the rules, the shares will not be allowed to be sold.

Last date for submission of investment proof

If you have invested under 80C and want tax rebate on it, then you will have to submit your investment proof by March 31. You have to make an investment to deposit investment proof. So that you can take advantage of tax exemption. If the investment proof does not deposit then tax will be deducted after 31st March on your income.

March 31 is the Financial year closing date for India. It’s important to note what all taxation and other financial steps and paperwork that needs to be completed by Indian businessmen and the Indian salaried professionals.