From life certificate (Jeevan Pramaan Patra) submission to special fixed deposit (FDs) schemes, here is a list of five financial deadlines in November, you should know about:
Life certificate or Jeevan Pramaan Patra submission
One of the major requirements for pensioners or those over the age of 80, post their retirement is to provide life certificates to the authorised pension disbursing agencies like Banks, Post offices, etc., following which their pension is credited to their account.
Pensioners are granted a deadline of November 30, 2023, to submit their annual life certificate for pension. The certificate is valid for 12 months from the date of issue.
In order to get this life certificate the individual drawing the pension is required to either personally present oneself before the pension disbursing agencies or have the life certificate issued by the authority where they have served earlier and have it delivered to the disbursing agency. To ease the burden on senior citizens and retirees, the government offers a digital life certificate option through Aadhaar-based biometric authentication. This can be done through the Jeevan Pramaan portal or the smartphone app. Once authorised, this digital certificate is stored in the Life Certificate Repository and sent automatically to the pension disbursing agency online.
Tax deadlines
A number of tax deadlines are scheduled for November according to the tax calendar of the I-T department.
November 7 is the due date for depositing tax deducted/collected for the month of October 2023. The due date for issuing the TDS certificate for tax deducted under section 194-IA, section 194-IB, section 194M, and section 194S in the month of September 2023 is November 14.
November 15 is the deadline for submitting a quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the quarter ending September 30, 2023. It is also the due date for furnishing Form 24G by an office of the government where TDS/TCS for the month of October 2023 has been paid without the production of a challan.
The income tax return filing deadline for charitable trusts, religious institutions, and professional bodies is November 30. In September, the I-T department had extended the ITR filing deadline for charitable trusts, religious institutions and professional bodies by one month.
IDBI Bank Amrit Mahotsav FD
IDBI Bank is offering a festive extension to its “Amrit Mahotsav Callable FD” with tenures of 375 days and 444 days up to November 30, from the previous date of October 31.
Under the Amrit Mahotsav FD scheme, IDBI Bank offers a 7.15 per cent interest rate to regular, NRE, and NRO customers for a 444-day tenure, while senior citizens enjoy a higher interest rate of 7.65 per cent. This FD also allows for premature withdrawal and closure. For the 375-day Amrit Mahotsav FD, senior citizens receive the same 7.65 per cent interest rate, while regular, NRE, and NRO customers receive 7.10 per cent. Similar to the 444-day FD, the 375-day FD also permits premature withdrawal and closure.
HDFC Senior Citizen Care FD
The 0.25 per cent extra premium offered by HDFC Bank for Senior Citizen Care FDs will expire on November 7.
The bank website said, “An Additional Premium of 0.25 per cent (over and above the existing premium of 0.50 per cent) shall be given to Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years, during special deposit offer commencing from May 18, 2020, to November 7, 2023.”
As of now, the private lender’s FD rate for senior citizens varies from 3.5 per cent to 7.75 per cent.
Punjab and Sindh Bank Special FDs
Punjab and Sindh have introduced new fixed deposit schemes known as PSB Dhan Lakshmi and PSB Saving Plus, which are valid until November 30, 2023.
PSB Saving Plus has a tenure of 333 days with a minimum deposit of Rs 500, and a maximum is Rs 1.99 crore. Under the special FD, general citizens receive an interest rate of 6.50 per cent per annum. For senior citizens and super senior citizens, the bank is offering 7 per cent and 7.15 per cent interest, respectively.
PSB Dhan Lakshmi deposit has a tenure of 444 days and is valid until November 30, 2023. Under the special FD, general citizens can earn 7.40 per cent per annum interest rates. Senior citizens and super senior citizens get a higher rate of 7.90 per cent and 8.05 per cent, respectively.
