Today is the last day of 2020-21, so today you have to do many important tasks. If you miss doing this job then you may have to bear the loss. These works include banking and investment-related work. If you want to take a loan at a lower interest rate, then you have to apply by 31 March. Apart from this, if you have not yet linked the PAN to Aadhaar, get it done today or else your PAN will be deactivated. We are telling you about 17 such works that you have to tackle today.
1. Investment to get income tax rebate
If you are planning to invest to take advantage of income tax exemption, then you will have to do it on 31 March itself. Many sections of the Income Tax Act like 80C and 80D get the benefit of tax exemption on investments made. Under Section 80C of the Income Tax Act, tax exemption can be taken on investments up to Rs 1.5 lakh.
2. File a billed and revised return
The last date for filing late or revised Income Tax Return (ITR) for 2019-20 is also 31 March. A belated return is filed after the original deadline for filing returns for a financial year is over. For this, the taxpayer has to pay a penalty. A revised return is filed when an error is made while filing the original return. The belated return is to be submitted by 31 March with a late fee of 10 thousand rupees.
3. Get Aadhaar-PAN linked
The last date for linking PAN card to Aadhaar is 31 March. If you do not add your PAN to Aadhaar by 31 March, it will become invalid.
4. Apply in Pradhan Mantri Awas Yojana
Under the Prime Minister's Pradhan Mantri Awas Yojana (PMAY), houses are provided to people at affordable prices. Under the scheme, people who buy a house for the first time are given credit-linked subsidy. Which is up to a maximum of 2.67 lakh rupees. Different income groups are subsidized differently.
5. Advantage of LTC Cash Voucher Scheme
Due to Corona, people could not travel in the current financial year 2020-21. Therefore, the Government had announced the Special Leave Travel Concession (LTC) Cash Voucher Scheme. Under this, people can also avail LTC by purchasing any goods or service from 12 October 2020 to 31 March 2021. The per capita LTC fare is Rs 36,000.
6. Apply for Cheap Home Loans
State Bank of India (SBI), Kotak Mahindra, and ICICI Bank have lowered home loan interest rates. If you want to take a loan at a lower rate of interest, then you have to apply by 31 March 2021. Under this scheme, SBI, HDFC, and ICICI banks are giving loans at 6.70% interest. Kotak Mahindra Bank is offering home loans at 6.65% interest.
7. FD for more interest in ICICI and Bank of Baroda
Bank of Baroda and ICICI Bank are running special fixed deposit schemes for senior citizens. Under these schemes, senior citizens are getting more interest than normal FDs. If you are a senior citizen or you are thinking of investing for your parents, then you can take advantage of these schemes till 31 March.
8. Deposit minimum amount in PPF and NPS accounts
If you have a Public Provident Fund (PPF) or National Pension Scheme (NPS) account, but have not been able to put money in them this financial year, then you must put some amount in it to keep the account active. These accounts will become inactive if money is not added to PPF and NPS. If you do not enter the minimum required amount, then you will have to pay a fine to get them activated again.
9. Registration in PM farmer
Those who have not been able to register themselves under PM Kisan Samman Nidhi scheme till now, if they apply before 31 March and if their application is accepted, then between April and May, two installments of 2000-2000 will be received.
10. Change the checkbook and IFSC of Oriental and United Bank
Punjab National Bank has said that the old checkbook and IFSC / MICR code of Oriental Bank of Commerce and United Bank of India will work only till 31 March. So go to the bank and get a new code and checkbook.
11. Easy chance to get KCC till 31st March
The government is making a Kisan Credit Card by running a campaign till 31 March. Farmers who have not yet received KCC can contact their nearest bank branch. Now farmers have to fill a very easy form and they will get KCC within 15 days.
12. Book Profits from Stocks and Equity Funds
Long-term capital gains of more than 1 lakh rupees are now taxed on stocks and equity-oriented funds. If you have a long-term capital gain, then this is your chance to avail of tax exemption on long-term capital gains up to Rs 1 lakh. Before March 31, book the profit in such a way that you get the benefit of tax exemption. For this, you should sell as many stocks and equity funds before 31 March, on which you get a profit of up to 1 lakh rupees. Then invest the same money again in the next financial year.
13. Submit Form 12B
If you have changed job after April 1, 2020, then inform the new TDS of the earlier job cut through Form 12B to the new company. If you do not submit Form 12B by 31 March, then the company can deduct more TDS, which you will lose.
14. Last date for giving details under dispute-to-trust scheme
The Income Tax Department had extended the deadline for giving details under the Direct Tax Dispute Resolution Scheme 'Dispute to Confidence' to 31 March and for payment to 30 April. The purpose of this scheme is to resolve pending disputes.
15. Take advantage of the Special Festive Advance Scheme
Under the Special Festive Advance Scheme, the government had also announced an interest-free advance of Rs 10,000 for its employees. The last date to take advantage of this special festival advance is 31 March 2021. To avail of this scheme, employees will get Rupees Pre-Paid Card. It will be recharged beforehand. Employees can repay the amount taken in advance in 10 months.
16. GST Return Filing
The government had extended the deadline for filing annual GST returns for the financial year 2019-20 till 31 March 2021. On filing the return after the last date, you will have to pay a fine of Rs 200.
17. Loans under Emergency Credit Line Guarantee Scheme
The government had launched the Emergency Credit Line Guarantee Scheme (ECLGS) to benefit micro, small and medium enterprises (MSMEs). The objective of the scheme is to provide financial assistance to MSME firms that are facing difficulties due to the Corona crisis. This scheme can be availed only till 31 March.
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