31 March Deadline: There are many financial works whose last date is 31 March 2022 and you should know whether there is any work left for you which needs to be done.
31 March Deadline: Only 2 days are left for the financial year 2021-22 to end and you should complete these 10 tasks in 2 days. Before the financial year ending on March 31, you should tackle these ten important tasks, otherwise you may have a big problem on the financial front. In these 10 tasks, from linking Aadhar-PAN to investing for tax savings, there are also tasks.
1. Linking PAN-Aadhaar
If you do not link your Aadhaar and PAN by March 31, then your PAN card may be declared invalid. Linking PAN with Aadhaar is also necessary because in case of inactive PAN card, TDS will be deducted at the rate of 20 percent on your income by the Income Tax Department.
2. Investing for Tax Savings
You have till 31st March to invest for tax saving and if you want to invest in FY 2021-22 to get tax exemption on the basis of investment then you have two days left now. For tax savings, you can invest in certain instruments under 80C and 80D and save up to Rs 1.5 lakh in tax in a year on these modes.
3. Last date for filing Revised or Late Return also
March 31 is the last date for filing revised or late returns for the financial year 2019-20 and if you miss it, a penalty of up to Rs 10,000 can be imposed. You have 3 days including today and you must complete this work in these days. However, the taxpayers who have already filed the return or whose refund has come. The need to file Revised Return is required by those people whose mistake is made in filing the original return.
4. KYC of Bank-Demat Account
It is necessary to complete KYC of bank and demat accounts by 31st March and along with it it is necessary to complete KYC for demat accounts as well. Non-completion of KYC in Demat accounts may result in the closure of trading in your account.
5. Link Bank Account with Small Savings Schemes
In the post office, it is necessary to link the accounts of small savings schemes like Senior Citizen Saving Scheme or Time Deposit with the bank account or else their interest money may stop. From 1st April i.e. FY 2022, the money of these small savings schemes will come in your bank account only.
6. E-KYC for PM Kisan Samman Nidhi Scheme
The last date for conducting e-KYC for PM Kisan Samman Nidhi Scheme is also 31 March. If the beneficiary farmers do not get this e-KYC done by 31st March, then 2000 rupees of the scheme will not come in their accounts.
7. Last Chance to Book Tax Profit in Stock and Equity Funds
If you have got a capital gain of up to Rs 1 lakh in a stock or equity fund, then this is your last chance to book it, after March 31, you will have to pay tax on capital gain up to Rs 1 lakh.
8. Last date to deposit minimum amount in PPF, NPS, Sukanya Samriddhi Yojana
If you have opened Public Provident Fund, NPS or Sukanya Samriddhi Yojana accounts but in this financial year you have not been able to put the minimum amount required, then do this work by 31st March. After March 31, such accounts will become inactive and you will have to pay a penalty to get them activated again.
9. Apply for subsidy under Pradhan Mantri Awas Yojana
In order to get subsidy of more than Rs 2 lakh under the Pradhan Mantri Awas Yojana, first-time home buyers should apply under this scheme before March 31. With this, they can get subsidy up to Rs 2.67 lakh under the housing scheme.
10. Submit Form 12B
Those who have changed jobs after April 1, 2021, should give information about their TDS deducted through Form 12B to the employer so that they do not deduct more TDS in the new company. The last date to submit it is also 31st March.
