Thursday, June 8, 2023

31 March Deadline Before 31 March Complete These 5 Financial Tasks Check…

31st March Deadline for Financial Tasks: The financial year 2022-23 is about to end in a few days. The new financial year 2023-2024 will start from April. In such a situation, the month of March is very important from the financial point of view. In this month, it is very important for people to settle many financial tasks. Failure to do so may result in huge financial loss to you. There are many such tasks whose deadline is near. In such a situation, if you do not settle these works before the end of the month of March, then you may have to pay more amount as penalty later. In such a situation, we are telling you about those things whose deadline is ending on March 31, 2023. Let’s know about this-

1. Link PAN Aadhaar

The Income Tax Department has asked all PAN card holders to link PAN and Aadhaar. The deadline for doing this work has been fixed as March 31, 2023. Significantly, the deadline for linking PAN Aadhaar has been extended several times in the past as well, but the Income Tax Department has made it clear that it will not be extended further. In case of non-linking of PAN with Aadhaar, your PAN will become inactive. After this you will have to link PAN with Aadhaar by paying a fine of Rs 10,000. In case of inoperative PAN, you will not be able to file IT returns as well.

2. Nomination is necessary in mutual funds

The date of March 31 is very important from the point of view of Mutual Fund Investors. Market regulator SEBI has asked investors to complete the nomination work in mutual funds by March 31. In case of failure to do so, the portfolio will be frozen. After this, to start it again, you will have to submit all the details. In such a situation, definitely complete this work before the deadline ends.

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3. Deadline for tax saving

This is the last chance to invest in tax saving schemes to get tax exemption in the financial year 2022-23. If you want to get a rebate of Rs 1.5 lakh under Section 80C of Income Tax, then this is the last chance to invest in many schemes like PPF, Sukanya Samriddhi Yojana, Tax Saver FD.

4. It is necessary to invest minimum amount in PPF and SSY

If you have not invested minimum amount in Public Provident Fund and Sukanya Samriddhi Yojana for the whole year, then settle this work before 31st March. In case of not doing so, your account will be deactivated and it will be restarted only after paying the fine amount. In such a situation, if you want to save these small savings accounts from becoming inactive, then deposit the minimum amount in it today itself.

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5. Deadline of Pradhan Mantri Vaya Vandana Yojana

If you want to get the security of pension after the age of 60 years, then you can invest in Pradhan Mantri Vaya Vandana Yojana. The deadline of this scheme of the government is ending on March 31, 2023. Till now the government has not made any announcement to extend its deadline. You can invest in this scheme through Life Insurance Corporation of India. Under this scheme, a return of 7.4 per cent is available on the deposited amount. You can withdraw the pension received under the scheme on an annual, half-yearly, quarterly or monthly basis.

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