The present monetary yr is coming to an finish on March 31 and so are deadlines for a number of money-oriented duties. Deadlines for belated or revised revenue tax return (ITR) submitting, PAN-Aadhaar hyperlink, checking account KYC, and KYC of demat and buying and selling account additionally finish on March 31, 2022, and incomes people are suggested to finish the identical on or earlier than the deadline.
Learn extra: What occurs when you miss March 31 deadline to file returns
To make it possible for incomes people don’t miss out on the deadlines, we’ve got created a listing of prime 5 duties that one ought to full on or earlier than March 31, 2022:
1. Belated or revised ITR submitting: The deadline for submitting belated revenue tax return for FY 2020-21, or AY 2021-22 is March 31. Tax payers won’t be able to file the identical after the deadline has handed.
Learn extra: file revenue tax return | Step-by-step information, paperwork wanted
2. PAN-Aadhaar linking: If you don’t want your PAN, or everlasting account quantity, to be inoperable or invalid, you might be suggested to hyperlink your PAN card with Aadhaar card earlier than March 31, 2022. Carrying an invalid PAN card could result in ₹10,000 penalty.
3. KYC replace of checking account: On account of rising omicron menace, the Reserve Financial institution of India (RBI) prolonged the final date for checking account KYC replace from December 21, 2021 to March 31, 2022, Livemint reported. Checking account holders can keep away from the chance of their accounts being frozen by finishing their KYC replace on or earlier than March 31.
4. Linking small financial savings schemes with checking account/put up workplace financial savings: The Division of Put up not too long ago issued a round that curiosity on MIS/SCSS/TD accounts shall be credited solely in account holder’s PO Financial savings Account or Financial institution Account from April 2022. Account holders should hyperlink their small financial savings scheme accounts with a put up workplace account and checking account by the tip of this monetary yr to proceed getting curiosity credit score on time.
5. KYC of demat and buying and selling account: As per the SEBI round issued in April 2021, share depositories NSDL and CDSL are required to make sure that identify, tackle, PAN, legitimate cell quantity, legitimate e-mail ID and revenue vary are up to date within the current demat and buying and selling accounts. The deadline for KYC of demat and buying and selling account can also be March 31.