Several important deadlines are coming up in the month of September. These are regarding the filing of income tax returns , linking Aadhaar with PAN and with Employees Provident Fund (EPF) and more. Another important guideline that kicks in at the end of this month is about the commonly-used auto debit facility.

Let’s take a look at 5 things that need to be done this month:

Income Tax returns

September 30 is the deadline for filing the income tax returns. The deadline was extended in June after glitches were reported in the official Income Tax portal for e-filings forms. Failure to file returns by the given deadline attracts a late fee of Rs 5000. If the assesse’s annual salary for a given financial year is under Rs 5 lakh, then the late fees will not be more than Rs 1,000.

Also read: Here’s how you can avoid TDS deduction upon provident fund withdrawal

Auto-Debit transactions 

Another deadline that affects many is regarding the auto-debit facility.  Starting October 1, any auto-debit payments enabled from a bank account will be subject to a two-level authentication process. For this, it is important that all customer details registered with the bank , like registered mobile number etc,  are updated. From October 1, banks will send messages to customers at least five days in advance. Another communication will go out 24 hours before the payment date. This communication will come to the registered mobile number.

Also read: PPF or voluntary provident fund– Know which benefits you more

Aadhaar-PAN linking 

September 30 is also the deadline for linking Aadhaar with PAN card. This new deadline was set after the COVID-19 pandemic forced a lockdown. According to Section 139AA of the Income Tax Act, every individual with PAN, who is eligible to obtain an Aadhaar card, must link PAN with Aadhaar. A failure to link PAN-Aadhar by the deadline will make the PAN card invalid. The PAN cards are a must while opening bank accounts and filing income tax returns.

Also read: Aadhaar and PAN Card Linking, easy Steps

Aadhaar-PF linking 

Another vital link that needs to be made before October 1 is between PF account and Aadhaar. From October 1, employees and employers will only be able to deposit contributions to the employee’s provident fund (PF) if the universal account number (UAN) is linked with the Aadhaar card. This stipulation was put in place after the Employees’ Provident Fund Organisation (EPFO) amended Section 142 of the Code of Social Security, 2020. The linking will enable a beneficiary to avail the full range of services.benefits and payments.

KYC Details for Demat accounts

This applies to all those with Demat or trading accounts. They need to fill out/update  their know-your-customer (KYC) details by September 30. If they fail to do so their Demat account will be deactivated.