March is the end of the 2021-22 financial year and with the month coming to an end, many deadlines are also to be met, which if not duly followed, can lead to fines or disturbances in personal finance.
From PAN-Aadhaar linking to KYC update in bank accounts - here are the deadlines you should meet by March 31, 2022.
PAN-Aadhaar card linking
The last date to link PAN to Aadhaar is set at March 31, 2022. Anyone who will miss the deadline will have to pay a penalty and will also risk their PAN card becoming invalid. Here are a few ways in which you can link your PAN-Aadhaar;
1. Visit the e-filing website
2. Send UIDPAN to 567678 or 56161
3. Offline through PAN services centers of National Securities Depository Limited (NSDL) and UTIITSL.
KYC in bank accounts
The Reserve Bank of India (RBI), in 2021, extended the last date to complete the KYC in bank accounts till March 31, 2022. Your bank account might get frozen if you miss out on the deadline for a KYC update.
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Belated ITR filing
Given the Covid-19 pandemic, the Income Tax department extended the last date for ITR filing for FY 2020-21 several times. The last deadline is set at March 31, 2022. While filing the belated IT returns, the taxpayer will also have to pay a certain fine for missing the December 31, 2021 deadline, along with added taxes.
Late filing fee - Rs 1,000 in case the Gross Total taxable income during the financial year does not exceed Rs 5 lakh, or Rs 5,000 otherwise.
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PMAY Housing Subsidy
The last one of the three phases of the PMAY scheme ends on March 31, 2022. The Credit Linked Subsidy Scheme (CLSS) was launched in June 2015 under the Pradhan Mantri Awas Yojana (PMAY- Urban)- Housing for All initiative. The scheme was launched by the Ministry of Housing and Urban Poverty Alleviation (MoHUPA).
