PERSONAL FINANCE
DNA Web Team | Dec 28, 2018, 09:08 AM IST
1.1. Filing of tax returns
You might be aware of the fact that it's important to file the Income Tax Returns (ITR) if your annual income is more than Rs 2.5 lakh. However, the due date of filing ITR for individuals, HUFs and organisations (without audit) was August 31. But if you have missed the extended due date, you could still file it till December 31. However, you need to file the late fee up to Rs 5,000. If you fail to file the return even by December 31 that late fee us doubled to Rs 10,000.
For people with an annual income below Rs 5 lakh, a late fee of Rs 1,000 would be charged.
2.2. Your debit, credit cards may get blocked from December 31
The Reserve Bank of India in order to protect the customers from fradulent transactions had issued guidelines to change Magstripe Debit Cards to EMV Chip Debit Cards by the end of 2018. The conversion process is absolutely safe and comes with no charges.
3.3. Replacement of non-CTS cheque books
Just like cards, non-CTS cheque books would become redundant. Therefore, in order to avoid the cheque bounce situation you need to get a CTS cheque book.
Check Truncation System (CTS) enables quick redeeming of cheque. With CTS there is no need to move from one bank to the other for clearing the cheque. Only electronic copy is offered for its clearing. In this arrangement, the cost of moving the cheque physically is avoided and the time required for clearing is reduced. This gives customers better service.
4.4. Home loan from SBI with zero processing fee
The State Bank of India is providing home loan with zero processing fee. The scheme is valid till December 31, 2018.
5.5. Deadline for selling pre-GST goods comes to an end on December 31
The government has extended the deadline for sale of pre-GST goods with stickers of revised rates by three months to December 31.
“The government hereby further permits the manufacturers or packers or importers of pre-packaged commodities to declare the changed retail price (MRP) on the unsold stock manufactured/packed/imported prior to July 1, 2017 after inclusion of the increased amount of tax due to GST, if any, in addition to the existing retail price (MRP), up to December 31, 2017,” an official government statement read.
6.Here's how to get EVM chip based cards
As per a FAQ on the SBI website, one can apply for the replacement EMV chip debit card by visiting the home branch. Alternatively, one can also request for issuance of the replacement EMV Chip Debit Card through internet banking.
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