December 2023 Dates To Remember: 21 days of the last month of the year 2023 have passed. This month is also the last month to settle some financial matters. The deadlines for many works are ending on December 31. These include many important things like adding a nominee in mutual fund and demat, the last date to invest in SBI Amrit Kalash and the last date of the bank locker agreement.
Missing financial deadlines can result in penalties and charges, which can erode your savings. For instance, if you fail to update your Aadhaar details by the deadline, you may have to pay a fee for doing so.
Let us know about such important tasks which need to be completed by December 31, 2023.
Deadline for Aadhaar updation: The Unique Identification Authority of India (UIDAI) has extended the deadline for free Aadhaar updation to December 31, 2023. This means that you can still update your Aadhaar card with your latest demographic details (address, phone number, email address) for free. After December 31, 2023, you will have to pay a fee for Aadhaar updation.
Deadline for revising bank locker agreements: The Reserve Bank of India (RBI) has set a phased deadline for banks to execute revised locker agreements with their customers. The deadline for the first phase is December 31, 2023. The new locker agreements will have some important changes, such as a higher limit on the compensation that banks will be liable to pay in case of loss or damage to the contents of a locker.
Deadline for submitting nomination for demat accounts: The Securities and Exchange Board of India (SEBI) has extended the deadline for submitting nomination forms for demat accounts to December 31, 2023. A nomination form allows you to specify who should inherit your demat securities in case of your death.
Deadline for investing in special fixed deposits: Some banks are offering special fixed deposits with higher interest rates till December 2023. However, there is a deadline for investing in these deposits. For example, the last date for investing in Indian Bank’s “Ind Super 400” and “Ind Supreme 300 days” fixed deposits is December 31, 2023. Similarly, SBI Amrit Kalash FD is also taking deposits till the last day of December.
Inactive UPI ID: If you also have a UPI ID that you have not used for more than a year, then it will be closed after December 31. In such a situation, if you have not used any of your UPI IDs in the last year, then use it as soon as possible. This will not deactivate your UPI ID.
Deadline to file updated ITR: The deadline for filing income tax returns for the financial year 2022-23 i.e. assessment year 2023-24 was July 31, 2023. Those who could not file an ITR by this date can still file an updated ITR with late fees till December 31, 2023.
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