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- Aadhaar Pan Link; Income Tax; Complete These 5 Important Tasks Like Filing Income Tax Return And Linking Aadhar PAN By June 30, Otherwise You Will Have To Worry
New Delhi37 minutes ago
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Till the last date of this month i.e. 30th June is the last date to do many important works. This month, you may have to worry about not doing things like linking Aadhaar-PAN and filing income tax returns to avoid double TDS. We are telling you about 5 such tasks which you have to tackle by June 30.
If you do not file ITR by June 30, you will have to pay double tax.
The government has tightened the rules for those who do not file Income Tax Return (ITR). According to the new TDS rules, under section 206AB of the Income Tax Act, 1961, double TDS will have to be paid for not filing ITR. According to the new rules, Tax Collection at Source (TCS) will also be applicable for those who have not filed ITR. According to the new rules, from July 1, 2021, the penal TDS and TCS rates will be 10-20% which is usually 5-10%. Click here for more information
If you have not yet linked PAN with Aadhaar, then do it today. The government has given time till June 30, 2021 for linking PAN with Aadhaar. For not linking them by June 30, a fine of Rs 1,000 will have to be paid. With this, the person will have to pay more TDS, because if you do not link PAN with Aadhaar, your PAN will become inoperative. Under the Income Tax Act, if a person does not have an active PAN number, then the bank will deduct TDS at the rate of 20% on your income. SBI and Punjab National Bank have also asked to link them for seamless service. Click here for more information
Register for PM Kisan
If you have not yet registered under PM Kisan Samman Nidhi Yojana, then get it done before 30th June, so that both the installments of this year will come in your account. According to the rules of PM Kisan Samman Nidhi, if you apply in June and your application is accepted, you will get Rs 2000 in June or July. After this, in August also the installment of 2000 rupees will come in your bank account. Click here for more information
Invest in Special FDs for higher interest
SBI, HDFC Bank, ICICI Bank and Bank of Baroda had introduced special FDs for senior citizens. These special schemes are ending on 30 June 2021. Under these schemes, senior citizens are getting higher interest than normal FD. In such a situation, if you are a senior citizen and want more interest than ordinary FD, then you can invest in it this month. Click here for more information
Syndicate Bank Customers Get New IFSC Code
Syndicate Bank has been merged with Canara Bank with effect from 1st April 2020 so now IFSC code of the bank is going to change from 1st July. In such a situation, the existing IFSC Code of Syndicate Bank branch will work only till 30 June 2021. The new IFSC codes of the bank will be applicable from July 1, 2021. Syndicate Bank customers will now have to get the new IFSC code for their bank branch. Click here for more information