new Delhi . At the end of March and at the beginning of the new financial year, many old rules change, while many new rules come. With the beginning of the new financial year, financial planning is also necessary. With the end of the year, there are many such works which have to suffer due to non-compliance. We are telling some important things that you should complete before March 31.
advance tax filing
Under the Income Tax Law of India, a person with a tax liability of more than Rs 10,000 is liable to pay advance tax in four installments before March 15. If you are a salaried employee, your employer may have already deducted it.
The deadline for completing KYC in bank accounts has been extended till March 31. The customer has to submit his/her new information including PAN address proof and other information as may be prescribed by the bank.
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The deadline for linking Aadhaar with Permanent Account Number (PAN) has been extended till March 31. If this is not done, your PAN card will become inactive, and you will not be able to do financial transactions that require PAN.
invest to save tax
Take the time to assess your income for the year and find out how much you would need to invest in tax-saving under section 80C. If you have already invested in tax saving schemes like Public Provident Fund, National Pension Scheme, Sukanya Samriddhi Yojana etc., then you need to make minimum contribution before 31st March to keep these accounts active.
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file income tax return
The last date for filing income tax return for AY 2021-22 has been extended till March 15. Make sure that you have filed your income tax return before the last date to avoid penalties.
pay pending tax
Under the Vivad Se Vishwas scheme, people who have pending tax appeals or petitions can get full waiver of interest or penalty on paying their disputed taxes on or before March 31, 2022. It is advisable to resolve any dispute and make payment. do.
Tags: bank, Bank news, IT rules, Money
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