March 31 is not only the last day of the financial year but it is also the deadline for many financial works. If these financial works are not completed on time, there may be problems in the next financial year. Today we are going to tell you about five such works, which need to be done before March 31, 2022.
1- Delayed or Revised ITR
If you have not yet filed Income Tax Return (ITR) for the assessment year 2021-22, it can be done till March 31. Also, the revised ITR can also be filed by this date.
2- Aadhaar-PAN Link
The last date for linking Aadhaar and PAN number is 31 March 2022. If you have not done so yet, you can link Aadhaar and PAN before March 31. If this is not done then the PAN number will become invalid.
3- Bank Account KYC Update
Earlier the last date for updating bank account KYC was 31 March 2021. In view of the Omicron variant of Corona, the last date for updating KYC of RBI was extended to 31 March 2022.
4- Advance Tax Installment
Under section 208 of the Income Tax Act, advance tax can be paid to a taxpayer having income tax liability of more than Rs. It can be paid in four instalments. The last installment needs to be paid before March 15.
5- Tax Saving Investments
To avoid income tax, it is necessary for the taxpayer to invest in savings. This investment should be done before the end of the appraisal year. In such a situation, if you also want to invest in a tax-saving scheme, then do so before March 31.
