You may lose Rs 10,000, ATM, Credit Card, cheque book, netbanking! Finish these five works in 2018
2018 is about to end. You may still have a lot of unfinished resolutions. Some of them, you may still commit to in the New Year. However, there are some financial works that can't wait. You should finish them before the end of 2018 as many new changes will rollout because of new RBI and bank rules. Here's a look at some of the financial works you should finish before the end of this year.
1. Income Tax Return: Do this, save Rs 10,000
Income Tax Return: One more deadline for filing income tax return is set to end. Failing to file ITR before 31st December, you may end up paying Rs 10,000 as fine to the Income Tax department. Read below to know why (Representational image/ Pixabay)
2. Income Tax Return: New rule
As per the new rule of Income Tax department, a taxpayer will have to pay more penalty after failing to file the return before the deadline. Till 31st December, the penalty is Rs 5000. If you file ITR between January 1, 2019 and March 31, 2019 then you will have to pay Rs 10,000 fine. (Representational image/ Pixabay)
3. Stop your Debit, Credit cards from getting blocked
As per an RBI direction, all magnetic-stripe cards will become useless in the new year. You need to replace your old cards with EMV chip-based cards. This can be done online or at a bank branch for free. A Hindu Businessline report had said early this month that only 50-70 per cent of old cards have been replaced in around half-a-dozen public sector banks. (Representational image/ Pixabay)
4. Replace old chequebook
Old chequebooks will become useless from 1st January. For this, RBI had issued direction three months ago. You can apply for new CTS-2010 chequebooks now. (Representational image/ PTI)
5. Link bank account with your mobile phone
If you want to continue using net banking facility in the new year, then link your mobile number with your bank account. For this, visit your nearest bank branch and register your mobile number with the bank. (Representational image/ Pixabay)