Mumbai2 minutes ago
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With the end of FY 2024-25 on 31 March, some deadline is also ending. There is only a few days left for investment from EPFO Compliance to Tax-Sweet Schemes. Here we are telling about 3 important financial deadlines:
1. UAN Activation and Aadhaar-bank linking date of EPFO
Recently, the Employees Provident Fund Organization (EPFO) had extended the date of Aadhaar Seeding in the Universal Account Number (UAN) Activation and the bank till March 15, 2025. The EPFO had asked to get it activated as soon as possible to take advantage of various schemes.
- UAN is of 12 digits and through this, employees can track every information related to their PF account.
- From PF account information to downloading passbooks are included. PF can also withdraw or transfer.
- UAN activation is also necessary to get the benefit of insurance coverage under the Employees Deposit-Linked Insurance Scheme.
- EPFO members get coverage up to Rs 7 lakh in case of unexpected incidents under this insurance scheme.
2. Last date for filing updated returns 31 March
Taxpayers who want to update their last two years of income tax return can file updated returns before 31 March. To file ‘updated returns’, you have to fill the form named ITR-U.
In this form you have to explain why you have filed updated returns, such as the deadline missing, wrong selection of income, or filling the wrong data in original returns, etc. The provision of filing updated returns was introduced in the Finance Act 2022.
3. Last date for tax saving investment
If you have not yet made tax saving investment, you can do it till 31 March. There are 5 such schemes of post office including PPF, Time Deposit and Sukanya Scheme in which you can save tax by investing.
- Senior Citizen Savings Scheme
- Sukanya Samriddhi Yojana
- Public provident fund
- National Savings Certificate
- Time deposit scheme
