If you have a Demant or trading account and then you have to fill in your know-your-customer (KYC) details by September 30, 2021.
A few changes that will impact your day-to-day life are going to take place in the month of September. Deadlines for filing Income Tax Return (ITR), linking Aadhaar with PAN, linking Aadhaar with PF are all by the end of September. Today, we have compiled a list of all the money-related tasks that you have to complete before September ends.
Filing Income Tax Return (ITR)
The government, after requests from taxpayers, had extended the date of ITR filing for FY20-FY21 till September 30. If one fails to complete this task before the deadline, a fine of Rs 5,000 as a late fee will be charged.
Exception: If your annual salary is less than Rs 5 lakh for the given financial year then the penalty will not be more than Rs 1000.
Aadhaar-PAN linking
After extending the date several times before, the government has now set September 30, 2021, as the last date to link your Aadhaar to your PAN card. Under Section 139AA of the Income Tax Act, the government has mandated that every individual with PAN as of July 1, 2017, who is eligible to obtain Aadhaar, must link PAN with Aadhaar.
Aadhaar-PF linking
From September 1, 2021, employees and employers will not be able to make contributions to the EPFO as the government has made it compulsory for Aadhaar to be linked to the PF in order to enjoy the full spectrum of benefits.
KYC details for Demat Accounts
If you have a Demant or trading account and then you have to fill in your know-your-customer (KYC) details by September 30, 2021. If you fail to meet the deadline, your Demat account will be deactivated.
Auto-Debit Transactions
This rule will come into effect from October, 2021, but the rule will have to be complied with in September. From October 1, any auto-debit payments from your bank account will require a two-factor authentication process to be completed. You must update your registered mobile number in the bank's records.
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