From the last date to link Pan and Aadhaar cards to signing the bank locker agreement under new rules, there are a few financial tasks Indians must keep in mind in June. Flouting these deadlines may attract fines. Taxpayers as well as bank account holders must check the list to avoid the penalties.
PAN- Aadhaar linking deadline
The government has extended the deadline to link the Permanent Account Number (PAN) card with the Aadhaar card to June 30, 2023, from the earlier deadline of March 31, 2023.
"In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to June 30, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions," the Central Board of Direct Taxes (CBDT) press release on the deadline extension stated.
Although the customers will have to pay Rs 1,000 to link these two cards now, not doing so by June 30 will make the PAN card inoperative. This would make it difficult for taxpayers to file their income tax returns.
Deadline for applying for a higher EPS pension
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The Employees' Provident Fund Organisation (EPFO) has extended the deadline for applying for a higher Employees' Pension Scheme (EPS) pension for the second time. Previously, the Supreme Court imposed a four-month deadline from the date of the judgement (November 4, 2022) to March 3, 2023. However, EPFO's implementation of the Supreme Court's order has been delayed.
EPFO has extended the deadline till June 26, 2023.
The most recent deadline extension provides eligible employees additional time to consider and apply for a higher pension from EPS. Many employees were having difficulty filing for increased pensions.
Deadline for free Aadhaar update
The Unique Identification Authority of India (UIDAI) has given Aadhaar holders the provision to change their Aadhaar details online for free. The free service was launched on March 15 and will conclude on June 14, 2023.
Aadhaar cardholders who want to update their address for free should do so latest by June 14, 2023. It is crucial to note that this service is exclusively available on the myAadhaar portal and will continue to cost Rs 50 at physical Aadhaar centres, as was previously the case.
The UIDAI has been requesting residents to provide Proof of Identity and Proof of Address (PoI/PoA) documents to revalidate their demographic information, particularly if their Aadhaar card was issued more than ten years ago and was never updated.
Bank locker agreement deadline
The Reserve Bank of India (RBI) set the deadline for banks to complete the phased renewal of new locker agreements by December 31, 2023. But banks will have to follow the milestones of 50 per cent enrollments by June 30, 2023, and 75 per cent by September 30, 2023.
Indian Bank's special FD deadline
Indian Bank has extended the "Ind Super 400 Days" special fixed deposit till June 30, 2023. Under this, the bank is offering 7.25 per cent interest rates to the general public on FDs, 7.75 per cent to seniors, and 8 per cent to super senior citizens.
Deadline for SBI Amrit Kalash Special FD
The State Bank of India (SBI) has reintroduced its popular Amrit Kalash fixed deposit with a new deadline of June 30, 2023. It is a special scheme with a tenor of 400 days.
Earlier, the scheme was available for investing from February 15, 2023, to March 31, 2023.
According to the SBI website, "The specific tenor scheme of 400 days (Amrit Kalash) at a rate of interest of 7.10 per cent wef 12- April- 2023. Senior citizens are eligible for a rate of interest of 7.60 per cent. The reintroduced scheme is valid from April 12, 2023, to June 30, 2023."