The income tax returns date extended to 30th September. Here, we are reminding you of a few important things related to finance management. If you don’t comply, things will end up with a penalty amount.
File Income tax return
Firstly, the most important thing is to pay off the income tax returns before the deadline of 30th September 2021 for the financial year 2020-21. So, check all the documents and finance details.
Although, the date to file the income tax return was in August month due to system portal interface difficulties it is extended. Now, people have got more time to arrange things.
Any delay in this action will cause a penalty amount. So, just evaluate your true income and submit the true documents.
Update Demat KYC
KYC details are linked to the Demat account. If you want to update anything including(ID, PAN, Name, email, or phone no.) in KYC do this before 30 September 2021. The same thing you have to do for the Demat account & trading account.
For the continuation of Demat and trading account, it is mandatory to do.
Aadhar Card linking with PAN
If you don’t want to go through transaction difficulties ensure that your PAN card is linked with the Aadhar Card. Now all the transactional and Financial processes ask for the PAN card and KYC Details verification. If you have not linked your Adhar card with the PAN card you may have to face difficulty in trading, investments, banking transactions, and income tax return process. To keep yourself free from all the headache, link your Adhar Card to PAN card.
The deadline to do this process is 30 September 2021.
Aadhar card linking with EPF account
An EPF account is activated by the employer of an organization for their employees. Every month a definite amount is deducted from the salary and deposited into this account. It provides a good opportunity to save money for retirement. If you have not linked any of the accounts or documents including the EPF account, Aadhar Card, PAN card, details then it will create a mess.
Complete Mobile details to all banking services
Netbanking has made the transaction facilities faster. For this your mobile no. should link with your bank account, PAN card, and Aadhar Card. To ensure a secure transaction, OTP and two-factor authentication are required.
As per the new notification, now users will receive a notification on your linked device regarding the pending payment with third-party website support. You will receive this pending payment notification 24 hours or 5 days before the due date. You can do it at the moment or pay later. If the number is not linked or activated with your bank accounts then you will miss the information or auto-debit facility accessibility.
Users need to update the mobile number before September month-end, to manage the continuity of auto-mode online financial and transactional process auto-debt, of EMI installments payment, electricity bills, net recharges, DTH subscription, mutual fund, and other investments, etc.