Complete these financial tasks before Dec 31 to avoid paying penalty

With just over a week to go before the end of the calendar year 2021, you have less time to complete any work related to money, so if these tasks are not done on time, you may have to face financial penalty or some loss. Find out what are the tasks that need to be completed before 31st December.

Income tax return 

The deadline for filing income tax returns (ITR) for the last financial year (2020-21) has been extended several times due to the pandemic, the new deadline is 31 December. If the government does not extend the deadline for filing ITRs, you could be in serious trouble. So file an ITR as soon as possible. If you miss the December 31 deadline to file an ITR, you will have to pay a penalty.

Certificate of Life

The deadline for retired government employees and family retirees to submit their annual life certificate or life certificate has been extended to 31 December 2021. If you have not yet submitted your Certificate of Life, you should submit it soon.

Linking Aadhar Card and UAN

Due to the second wave of the Covid pandemic, the labor ministry had earlier this year extended the deadline for northeastern states and some establishments to link the Aadhaar card to the UAN by 31 December 2021. The ministry also waived the penalty imposed on employers for late filing of returns for two months under the Employees Provident Fund Association. In the meantime, linking your EPF account to Aadhaar can help speed up the claim settlement process. According to EPFO's Unified Portal, it is mandatory to link Aadhaar with UAN if you want to file an online claim for your EPF.