New Delhi: We will be stepping into the new year in a few days, but there are many financial tasks that need to be completed by 31st December. Some of these important functions include income tax return or ITR filing, Aadhar PF link, submission of life certificate for pensioners and others.
In failure to meet the financial deadline by 31st December 2021, it may also result in monetary loss.
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Checklist of things to be completed by 31st December 2021:
ITR Filing: As a result of the Covid-19 pandemic and technical issues on the new income tax portal, the government had extended the deadline for income tax returns several times. As per the latest extension, the last date for filing ITR for AY 2021-22 is December 31. Remember that if you fail to meet this new deadline, the taxpayer will have to pay a fine of up to Rs 5000.
Aadhaar PF link: Another important task that can impact your financial life is the linking of Aadhaar and PF. The Employees’ Provident Fund Organization (EPFO) had made it mandatory to link your Aadhaar number with your EPF account. You have to link both before 31st December 2021. If this is not done then your employer will not be able to make monthly contribution to your Employees Provident Fund (EPF) account. Apart from this, you will also not be able to withdraw from your EPF account. The provident fund regulator has also directed employers to get the UAN (Universal Account Number) Aadhaar verified of all EPF account holders.
Submission of Life Certificate for Pensioners: Most important deadline for pensioners The deadline for submission of life certificates for pensioners has been extended from November 30 to December 31. There are still four days left for pensioners to submit their life certificates, failing which the monthly pension disbursement may stop.
KYC Demat and Trading Account: In September 2021, the Securities and Exchange Board of India (SEBI) extended the last date for making KYC (Know Your Customer) demat and trading accounts till December 31. Failure to do so may result in closure of the said demat account. ,
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