The last month of the year 2021 is going on. It is necessary to settle many important works in this month. Actually, December 31 is its deadline. Let us know which are these important works.
The last month of the year 2021 i.e. December is going on. By the end of this month, you have to tackle many important tasks at any cost. If you do not complete these tasks before the due date, then you may suffer a big loss. If you have not filed an income tax return yet, do so by 31st December. At the same time, EPFO has also given PF account holders only till the end of this month to add a nominee. Let us know what are tasks that you have to tackle by the end of this month.
File income tax return
The last date to file Income Tax Return (ITR) for the financial year 2020-21 is December 31. According to tax experts, filing ITR before the deadline will not only save you from penalties but also have many other benefits. If you do not file ITR before the due date, you may have to pay a heavy fine. If you have filed Income Tax Return (ITR) on time, then you do not have the fear of getting notice.
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Nominee required for PF account holders
The Employee Provident Fund Organization (EPFO) has asked all PF account holders to add a nominee. EPFO has fixed 31st December 2021 as the last date for adding nominees. If you do not add a nominee to your PF account by December 31, then you may have to face many difficulties. Let us tell you that you can easily do this work online by visiting EPFO’s site.
Actually, this rule has been made because making nominations helps in getting the benefit of PF money, Employee Pension Scheme (EPS), and Employee Deposit Linked Insurance Scheme (EDLI) easily in case of death of EPF member.
File audit report
It is also mandatory to file the audit report by the end of this month. Actually, businessmen whose annual income is more than Rs 10 crore, have to file an audit report along with an income tax return. Professionals like architects, engineers, doctors, film actors, lawyers, technicians have to give audit reports only on income above Rs 50 lakh. The last date for filing an audit for the financial year 2020-21 is December 31.
Home loan is available at low interest
Significantly, the Bank of Baroda has reduced the home loan interest rate to 6.50% in the festive season. That is, now you can take a home loan at a cheap rate. And the most important thing is that apart from the new loan, the benefit of the new interest rate will also be available on the home loan transferred from other banks. But let us tell you that you will get the benefit of this offer till December 31. In such a situation, if you are also planning to take a home loan, then you can apply for it till December 31.
