Last month, EPFO had extended the last date for UAN activation and its deadline is about to end, while the last date for updated ITR filing for taxpayers is also the last date of this month of March.
The month of March started with many big changes (Rule Change In March), along with this, this last month of the current financial year is also the last chance for many important tasks related to your financial health. These include tasks related to Employees Provident Fund Organization (EPFO) to Income Tax Return (ITR). Yes, while the last date for filing updated ITR is 31st March, the deadline for UAN activation to manage your PF account is also near. Let us know about these three important tasks in detail…
First task: File ITR-U
The first and most important task is to file updated ITR, the last date of which has been fixed by the Income Tax Department as 31 March 2025. If you have made some mistakes while filing Income Tax Return (ITR) for FY22-23 and want to correct them. Or if any important information related to income has been missed during filing, then there is a chance to update it till this deadline. In such a situation, it would be better if you get this important work done today without waiting for the last date.
Second task: Tax Savings Investments
You have the option to invest to save tax and claim deductions by investing in some savings schemes till 31 March 2024 and claim it during ITR. For this, you can invest in all the Government Saving Schemes. For this, options like NSC, Sukanya Samriddhi Yojana, PPF, NPS are available. Under the Income Tax Act, you can get tax benefits under sections 80C, 80D and 80CCD-1B. It should be noted here that these are mandatory for the old tax regime and failure to do so may increase the liability of taxpayers who choose this regime.
Third task: UAN activation
Among the important tasks that are the last chance to be completed this month, one task related to EPFO is also included. In fact, the deadline for activating their Universal Account Number (UAN) and linking bank account with Aadhaar to manage their PF account is March 15, 2025, which is very near. There are many benefits of activating UAN and by doing this work, one can avail all the online services of EPFO.
It is worth noting that EPFO had announced to extend the deadline for this work in the last week of last month. Earlier the last date for this work was fixed as February 15. EPFO had alerted through a social media post. It is written in the post, ‘Kahin Bhool Na Jana…’, in such a situation, there is little hope of this deadline being extended further.
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