Income Tax Update News: Financial year 2021-22 is going to end. In this financial year, there are some such tasks which need to be done. If these works are not done on time, then you may have to face financial loss as well as mental trouble. You do not even have 10 days left to complete the tax related works.
Here we are mentioning those works which are necessary to be completed before 31st March. If you have done these things then it is good, if you have not done them then take out time and complete them immediately.
Must file Income Tax Return (ITR) for the financial year 2021-22 before 31st March. You can also file Revised ITR till the end of the month.
The last date to invest to get income tax exemption is March 31. You can take advantage of tax exemption by investing in all tax saving schemes including Sukanya Samriddhi Yojana, Life Insurance, PPF till 31st March. The investment made after this will not work for this year.
The last date for linking PAN card and Aadhar card is March 31. If you have not linked your Aadhaar and PAN card yet, then do this work immediately. Because PAN card not linked with Aadhar card will become inactive from 1st April. Then you cannot do any transaction related to PAN card. Will not be able to file income tax return. Along with this, you will also have to pay a hefty fine for this.
KYC of bank account
It is also necessary to do KYC of bank account by 31st March. If you have not done this work yet, get it done immediately. If your KYC is not completed by March 31, then your financial transactions will stop. This will also make it difficult for you to get income tax refund.