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4 most important things you should finish before 31st March’22

4 most important things you should finish before 31st March’22

1️⃣ Planning your #TaxSavingInvestments u/s 80C - 80U

2️⃣ Filing Belated or Revised ITR for AY 21-22

3️⃣ Aadhar & PAN linking 

4️⃣ Updating #BankAccount KYC





1️⃣ Planning your Tax Saving investments u/s 80C - 80U

Action: Invest/spend before this March’22 to become eligible for claiming deductions under respective sections.

Consequence for default: Deductions cannot be claimed.



2️⃣ Filing Belated or Revised ITR for AY 21-22

Action: Use this last opportunity to file your belated or revised ITR.

Consequence for default: ITR for AY 21-22 CANNOT be filed, unless you show genuine reasons for such default.


3️⃣ Aadhar & PAN linking 

Action: Make sure to link them to avoid PAN becoming invalid. 

Consequences for default: PAN becomes Invalid, Penalty upto Rs. 10,000 u/s 272B & late fee u/s 234H upto Rs. 1,000



4️⃣ Updating Bank Account KYC

Action: Make use of this extended due date by RBI

Consequences for default: It may lead to freezing your bank account.


Thanks for reading ...
✍️ SIVASANKARREDDY.
📧  sankarasr9@gmail.com
+91 9494942112.

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