4 Important tasks to be completed by Dec 31, one must know

The year 2021 is about to end. However, before the new year dawns, there are some important things that one needs to complete, pending which, defaulters may face inconvenience and, may also have to pay hefty fines. Here are some important tasks the deadline to finish which is December 31, 2021:

(1.) Income tax return filing: The deadline to file income tax returns (ITR) has already been extended several times due to issues such as the Covid-19 pandemic, and technical glitches on the new income tax portal. Now, one final date to file returns is December 31. If not done by the said date, defaulters will have to pay penalty of up to ₹5000.

(2.) Aadhaar-PF linking: The linking of Aadhaar card to the Universal Account Number (UAN) by December 31, as mandated by the Employees’ Provident Fund Organisation (EPFO), is applicable only to the seven northeastern states and certain class of establishments. In the rest of the country, the rule came into effect in September itself.

(3.) Life certificate submission: Pensioners retired from government service have to life certificate every year till November 30. In 2021, the deadline for this was extended till December 31. A retired government employee’s pension may be stopped if the certificate is not submitted by the due date.

(4.) KYC of demat and trading accounts: The Securities and Exchange Board of India (SEBI), in September, extended the last date for making demat and trading accounts KYC (Know Your Customer)-compliant, from the 30th of that month to December 31. If not done, this may lead to closure of the said demat account.

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