I should be cooking my meal for audience timely, viz, doing my tax return filings timely. I can do it a bit late, upto March 31 of the year following. I can’t file my return after that, so better late than never.
But there are costs to late filing. So here goes on the last date:
For my tax return of Financial Year (say 2019-20), due date is July 31 following for non-audit taxpayer and Sept 30 following for audit tax-payer (extended for financial year 2019-20 to Nov 30, 2020). But my last date is March 31 of next year, viz, for Financial Year 2019-20, last date is 31 March 21.
In extreme situations, Government exercises its judgement to extend this. For instance, for financial year 2018-19, last date was March 31, 2020, but Government has extended it to June 30, 2020 due to conditions prevailing. And now to July 31,2020