6 financial tasks to be wrapped up before the June 30 deadline

The month of June is special in a number of ways as there are several key tasks that have to be completed by 30th June. If you fail to do this, you could miss the bus. Delay in handling these works can also cause some financial loss. These include linking aadhaar card with PAN card, updating your aadhaar card (if needed) for free and opting for a higher pension option.

Do not wait till the end

Where the deadline to finish a task is June 30 such as for linking aadhaar to PAN and payment of advance tax, failure to do so can affect your finances. Apart from this, the last date has been extended many times by the Employees' Provident Fund Organization to choose more pension and now there is little possibility of extending it further.

In such a situation, if you have not completed any of these important tasks, then it is prudent to complete them soon without waiting for the last date.

Bank locker agreement

The Reserve Bank of India (RBI) had earlier asked banks to get their customers to sign bank locker agreements by December 31, 2023. However, the RBI has now revised this deadline and asked banks to get at least 50% of their customers to sign the agreement by June 30, 2023. Get signed, while banks have been asked to settle 75% locker agreements by 30 September.

In light of these changes, all the banks are appealing to their customers to renew their bank locker agreements by June 30, 2023. By September 30, 2023, 75% of existing customers must have signed the new locker agreement.

Aadhaar-PAN link

The last date to link aadhaar card with PAN card is 30 June 2023. It is mandatory to link the two documents, failing which your PAN card will become inoperative. Not only this, you may also have to pay a fine of ₹10,000 for using an invalid PAN card for any purpose.

Higher pension option

An important work related to EPF subscribers is included in the list of important work to be done this month. Actually, the last date of June 26, 2023 has been fixed by EPFO ​​to apply for higher pension. Earlier, the date of May 3 was fixed to do this work, which was further extended.

Aadhaar update

The Unique Identification Authority of India (UIDAI) has recently given its users the facility to update their aadhaar card for free and the last date to take advantage of it is June 14. 

In such a situation, if you want to update your aadhaar card, then you can do this for free by visiting My Aadhaar Portal. It is important to note that you will have to pay a charge for updating the information by going to the aadhaar centre.

Advance tax payment

If the tax liability is more than ₹10,000, then the month of June is important for you as well. For such people, advance tax payment is necessary for you, which is necessary to do. If a person defaults by doing so, then he will have to pay interest at the rate of 3% on the first three instalments and 1% on the last instalment on the total advance tax amount.

This penalty is charged under section 23B and 24C of income tax. Advance tax payment is to be made under 4 instalments, and the last date for payment of the first instalment is June 15, 2023.

Special fixed deposit schemes

For inventors who want to earn more on their deposits, SBI has recently launched a FD scheme known as ‘Amrit Kalash’ and the last date to invest in this special scheme is June 30, 2023. Furthermore, Indian Bank has also established a FD scheme called ‘IND SUPER 400 DAYS’, in which the deadline for investment has been extended to June 30, 2023.

By investing in this scheme, individuals can earn an interest of 7.25%. Meanwhile, the special fixed deposit scheme offers an interest rate of 7.75% to senior citizens, while super senior citizens will get 8% interest on their deposits.