Aadhaar-PAN linking to Tax-Saving investments: 5 tasks you need to complete before March 31
Aadhaar Card and Pan Card are two important documents with which one can avail benefits of government schemes and also perform financial transactions.
Financial year 2022-23 will end on March 31. With this, several deadlines will also come to an end. Therefore, it is important to complete all your financial tasks before March 31 to avoid paying penalties and inconvenience. Given below is the list if 5 important financial deadlines that you should meet:
PAN-Aadhaar linking:
Aadhaar Card and Pan Card are two important documents with which one can avail benefits of government schemes and also perform financial transactions. The Centre has made it mandatory to link Permanent Account Number (PAN) to Aadhaar, before March 31. If PAN-Aadhaar is not linked, then the PAN will become inoperative from April 1.
Filing updated Income-Tax Return (ITR):
The deadline for filing the revised income tax return for FY 2019-2020, or AY 2020-21 is March 31.
Advance tax payment:
Advance tax is paid by taxpayers who have sources of income other than their salary. This is applicable to rent, capital gains from shares, fixed deposits and lottery winnings. The last date to submit the final instalment of the advance tax payment for the fiscal year 2022–2023 is March 15, 2023.
Update KYC details
The RBI has extended the deadline for updating Know Your Customer (KYC) details in bank accounts. The last date to update is March 31. To update the KYC, you need to visit the nearest bank branch. To update KYC, a bank customer is required to submit details which include PAN, address proof such as Aadhaar, passport etc., latest photograph and other details as requested by the bank
Tax-Saving investments
The taxpayers who opted for the old tax regime must finish their tax-saving investments before March 31, 2023, for the fiscal year 2022–23. In the old tax regime, taxpayers can claim multiple deductions under the Income Tax Act, 1961.
The RBI has extended the deadline for updating Know Your Customer (KYC) details in bank accounts. The last date to update is March 31. To update the KYC, you need to visit the nearest bank branch. To update KYC, a bank customer is required to submit details which include PAN, address proof such as Aadhaar, passport etc., the latest photograph and other details as requested by the bank.
Also Read: From SGB to Gold ETF: 4 investment ideas for women to achieve long-term gains
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Gold and Silver rate today (May 14, 2024): Precious metals trade in green; yellow metal above Rs 72,000 once again, white metal near Rs 85,350
Top 7 Stocks to Track: This defence PSU multibagger can give 45% return; food delivery app stock likely to rise 19%
Mutual Fund SIP: Invest Rs 1000 per month to grow your corpus to over Rs 3.5 core at retirement, know calculations
10:15 AM IST