Important Personal Finance Deadlines You Shouldn't Miss In June 2023
Don't miss these crucial financial deadlines in June 2023, including PAN-Aadhaar linking and applying for a higher pension.
June marks a crucial month for various financial deadlines that require your attention. Missing these deadlines can lead to significant problems like monetary penalties, tax filing issues and a delay in doing other related tasks.
Therefore, it is essential to stay informed and complete these tasks promptly. Here are the important money-related tasks and their respective deadlines:
PAN-Aadhaar Linking Deadline
The deadline for linking PAN card with Aadhaar card (PAN-Aadhaar Link) is June 30, 2023.
This deadline has been extended multiple times, but now, with the new deadline approaching, it is crucial to complete this task.
According to the government, from 1st July, 2023, the PAN of taxpayers who have failed to intimate their Aadhaar, as required, shall become inoperative and the consequences during the period that PAN remains inoperative will be as follows
1. No refund shall be made against such PANs
2. Interest shall not be payable on such refund for the period during which PAN remains inoperative
3. TDS and TCS shall be deducted /collected at higher rate, as provided in the Act.
Apply For A Higher Pension Under EPF
The Employees' Provident Fund Organization (EPFO) has set June 26, 2023, as the last date to apply for a higher pension from the Employees' Pension Scheme (EPS).
Eligible subscribers must submit their applications for the higher pension option before the June 26 deadline.
Special FD Scheme: Amrit Kalash
State Bank of India (SBI) has introduced a special fixed deposit (FD) scheme named Amrit Kalash. The deadline for investing in this scheme is June 30, 2023.
The deadline for investment has been extended several times, initially from February 15 to March 31 and now to June 30, 2023. This presents a great opportunity for individuals to invest in this special FD scheme.
Renew Bank Locker Agreement
The Reserve Bank of India (RBI) has revised the deadlines for banks to obtain signed bank locker agreements.
Banks must now secure 50% of customer signatures by June 30, and settle 75% of agreements by September 30. Customers are urged to renew agreements by June 30, while banks work towards meeting the new requirements.
The RBI aims to enhance transparency and customer protection in the banking sector. Contact your bank for more information on agreement renewal.
Take note of these important financial deadlines and ensure you complete the necessary tasks before the respective cutoff dates.
