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From Aadhaar-PAN linking to ITR filing: 4 money-related tasks you need to complete by June 30

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From Aadhaar-PAN linking to ITR filing: 4 money-related tasks you need to complete by June 30

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Amid coronavirus pandemic, the government extended a number of money-related deadlines till June 30.

From Aadhaar-PAN linking to ITR filing: 4 money-related tasks you need to complete by June 30
Amid coronavirus pandemic, the government extended a number of money-related deadlines till June 30. The extension was announced to give relief to people facing issues during the coronavirus-induced lockdown. These include filing of belated and revised Income Tax Return (ITR), linking Aadhaar with PAN, among others.
Here are some of the money-related tasks one should complete by June 30:
Aadhaar-PAN Linking
Permanent Account Number (PAN) may become inoperative if it is not linked with Aadhaar by June 30, 2020. The deadline for linking of PAN and Aadhar has been extended several times and the current deadline ends on June 30, 2020.
Filing of Belated or Revised ITR
In case citizens have not filed the income tax return (ITR) for the financial year 2018-19 (or assessment year 2019-20), they can still do it by June 30, 2020, with a late fine of Rs 10,000. According to the Income Tax (I-T) department, an assessee who does not submit a return of income within the deadline is allowed to file a belated return at a later time with certain penalty charges.
Also, one can revise ITR by June 30, 2020 in case a mistake has been made in the original one.
Earlier, March 31 was the deadline for filing belated or revised ITR.
Tax-Saving Investments
The government also provided relief for those individuals who have not completed their tax savings. They can complete investments in tax-saving instruments by June 30, 2020.
Deposits in Small Savings Scheme
The subscribers of Public Provident Fund (PPF) and Sukanya Samriddhi Account (SSA) should deposit their savings up to June 30, 2020, which couldn’t be deposited in FY 2019-20 due to lockdown in the country.
The government had waived off the revival fee or penalty charges on the PPF, SCSS or RD accounts in which mandatory minimum deposit in not made up to March 31, 2020. Such deposits need to be made by June 30.
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