INCOME TAX
DO THESE THINGS BEFORE 31 MARCH TO SAVE TAX
Published By Livemint | 12 Mar, 2023
FRESH START
Ahead of the new financial year follow these steps to save your money
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LINK PAN TO ADHAAR
Link PAN to Aadhaar card till 31 March to avoid it becoming inactive
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ADVANCE TAX
Advance tax is paid in 4 installments: 15% by June 15, 45% by Sep 25, 75% by Dec 15, 100% by March 15
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ADVANCE TAX LAST DATE
Pay your advance tax by the extended deadline of 31 March to avoid extra charge
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SAVE TAX
Use tax saving instrument before March 31 to save tax under the old regime
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TAX SAVING SCHEMES
PPF, ELSS, NPS, Sukanya Samriddhi Yojana (SSY), 5 yrs FD, etc
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UPDATED ITR FILING
Ensure to submit updated income tax return for FY 2019-2020 by 31 March 2023.
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FORM 12B
Filling out Form 12B is important for those who have switched job in past one year
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CAPITAL GAIN
If you are planning to redeem investment soon, do it before 31 March to benefit from tax-free limit (1 lakh)
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SENIOR CITIZENS
Senior citizens can apply for Pradhan Mantri Vaya Vandana Yojana (PMVVY) till 31 March 2023
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