Want to avoid hassle and fines? Therefore, you should complete this work before March 31.
Work before March 31: March is the last month of the financial year. All government work is finalized this month. In that case, if you want to avoid any harm in matters related to government work like tax return, KYC, PAN-Adhaar update etc. Let us tell you which documents you should correct before March 31st. Because if you do not do this, you may face not only trouble but also fine.
Get EKYC for PM Kisan Yojana.
As you know, under PM Kisan Yojna (PM Kisan Yojna 2022) the central government transfers an installment of Rs.2000 / – per month to the farmers’ account. After Holi, the government is going to transfer the money of 11th installment to the account of farmers. But if you want the money to flow into your account without any hindrance, you should get EKYC done by March 31. The government has now made EKYC mandatory for all stakeholders. In that case, if you don’t get EKYC, your 11th installment will be stuck. This can be done online from home.
Link PAN card and Aadhar card.
As you may know, it is now mandatory to link PAN card with Aadhaar. Both are very important documents in our country, and they are needed in almost every job. In this case, if you have not yet linked your PAN card to Aadhaar, you need immediate attention. The government has set a deadline of March 31, 2022. If you do not do this before this date, not only will your PAN card be revoked but you may also have to pay a fine of Rs 10,000 under section 272B of the IT Act.
The Reserve Bank of India (RBI) has extended the deadline for updating KYC in bank accounts to March 31, 2022. If you do not update your KYC before March 31, your account may be frozen. We tell you, KYC is important not only in the bank but also in many other services. In many cases like insurance, loan, Mediclaim, credit card you may face big problems later. Therefore, it would be better to update KYC in all your bank accounts before March 31.
If you fall into the category of Income Tax, we would like to inform you that the last date for filing ITR for the financial year 2021-22 is March 31, 2022. It would be especially good for salaried people to file their ITR within this time limit. Failure to do so could result in a fine and legal action. It is better to file your income tax return on time than to risk your job in such a situation.