The last date for filing late returns for the 2018-19 financial year has been extended to September 30. Earlier, the last date was announced as July 31. The notification was issued by the Direct Taxes Board. It has also been clarified that senior citizens who have no income from business or profession will not have to pay advance tax in the assessment year 2020-21.
The due date for filing income tax for the financial year 2019-2020 is November 30. It is sufficient to pay the advance tax before then.
This is applicable if the tax had to be paid up to Rs 1 lakh as on April 1, 2020. If you have to pay more than Rs 1 lakh in tax, you will have to pay interest.
