Government extended the deadline of many things to June 30 because of the lockdown implemented to prevent the spread of the pandemic Coronavirus. Keeping in mind the convenience of the people, the government had extended the deadline associated with various statutory provisions. These include linking of PAN card to Aadhaar card, investing time to get tax exemption. Now there is not much time left for June 30. In such a situation, it is very important for you to remember this date to complete various tasks related to tax and banking.
1. Period to link PAN card to Aadhaar Card: Income taxpayers can link their permanent account number (PAN) to 12-digit Aadhaar number by June 30. The Income Tax Department has already extended the period of linking these two documents on several occasions. The department says that the PAN card of those who do not link these two documents will become inactive after the deadline. It is noteworthy that PAN card is necessary for transactions of more than 50 thousand rupees in the country, keeping more than a certain amount of deposits in bank accounts and for other works.
2. Investment deadline to get tax exemption: If you want to take advantage of tax exemption for FY 2019-20 and have not invested to the limit as per the provision of Income Tax Act, then you have to invest now. There are also a few days left. The Income Tax Department has given a separate column in the form issued for filing the income tax return for the financial year 2019-20, in which the income taxpayers have been asked to give information about the investment made between April and June.
3. Minimum investment deadline in various schemes: If you invest in PPF and Sukanya Samriddhi Scheme and if you have not yet made the minimum investment required for FY 2019-20, then you have almost one week left. The concerned department had extended the minimum investment deadline to June 30 through a circular from the government.
4. Limit for withdrawing money from ATM of another bank: In view of the circumstances arising out of Covid-19, the government had given the facility of withdrawing money from the ATM of any bank to the people any number of times. This deadline is also up to June 30. After the completion of this period, you can withdraw money from the ATM of another bank a few times a month at no charge. Customers will have to pay a fee for withdrawing money from other bank ATMs on occasions beyond the prescribed limit.
5. Concession to keep a minimum balance in bank account: Banks have given an exemption to customers to maintain the minimum balance in savings account till June 30. This means that after this, you have to keep the minimum balance fixed by the bank in your account or else the bank can charge you a fee.
6. Date of submission of Form 15G / 15H: Income taxpayers fill Form 15G / 15H to avoid TDS deduction. If you have not yet filled this form, then remember that the date of filing it is also June 30. This means that if you do not fill this form by June 30, then TDS can be deducted from your salary.
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