The effect will be seen on your budget from the month of July

The month of June was the last chance to complete the final tasks of many works. If you haven’t completed any of these tasks yet, you still have one day. You can make that work. July, the 7th month of the year is going to start from tomorrow. Many tasks have deadlines in this month. This month is very important financially. In this month you should complete many tasks of your finances. Let’s know what are the important financial tasks to be done this month.

This month you have to file income tax return. Also, if you haven’t linked PAN with your Aadhaar yet, you still have a chance. If your PAN is not linked with Aadhaar, your PAN will be linked. Along with this HDFC Bank customer should also know about HDFC Bank and HDFC Bank merger. It is expected that the merger of these two will be done this month.

ITR file
The last date for filing returns for the financial year 2022-23 has been fixed as 31 July 2023. You should not wait for the last minute. You should complete this task as soon as possible. If you don’t file ITR by 31st July then you can do it till 31st December. For this you will have to pay a fine of Rs 5,000. If your income is less than Rs 5 lakh, you will have to pay a penalty of Rs 1,000 only.

This month is the last date of other pension
The June 26 deadline for opting for higher pension in the Employees’ Provident Fund Organization (EPFO) has been extended to July 11, 2023. This means that if you also want to get higher pension, you can apply till July 11. For this, you have to complete the online facility provided on EPFO’s portal.

Link PAN to Aadhaar
If you haven’t linked PAN with Aadhaar yet, you have only one day left. If you do not do this by today i.e. by 30 June 2023, your PAN will become inactive. If this happens, you will be deprived of many facilities. You will not get any outstanding tax returns. Also you will have to pay more tax. Also TDS and TCS will attract higher rates. You will not be able to file ITR after PAN is deactivated.

Merger of HDFC Bank and HDFC
HDFC Bank and HDFC may merge this month. It is expected that they will be merged on July 1 or July 13. After the merger, account holders and borrowers need to focus on home loan rates, deposit rates. You should also know that HDFC Limited branches near you will be converted into bank branches or closed down.

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