Business

Paytm Payments Bank, free Aadhaar updation, tax saving & more: 9 money deadlines in March 2024 that you should not miss



Money deadlines in March 2024: As the current financial year is set to end, it’s important not to overlook important deadlines that could affect your finances. These dates involve regulations that taxpayers and investors must adhere to, in order to avoid penalties or fines for missing them. As per an ET report, here are some key dates in March 2024 to keep in mind.
Free Aadhaar updation: Deadline – March 14
You have until March 14, 2024, to update your Aadhaar card for free on the myAadhaar site.After this date, there will be a charge for updating your proof of identity and address documentation.
This extension was announced by the UIDAI in a memorandum on December 11, 2023. The free update facility will be available through the myAadhaar portal until March 14, 2024.
SBI Amrit Kalash Special FD – March 31
This scheme offers a specific tenor of 400 days with an interest rate of 7.10% starting from April 12, 2023. Senior citizens are eligible for a higher interest rate of 7.60%. The scheme will remain valid until March 31, 2024, as per information available on the SBI website.
ALSO READ | Financial year-end tax planning: Why the time to invest in tax-saving fixed deposits is now – FD rates compared
SBI WeCare Senior Citizen FD – March 31
Senior citizens can avail themselves of the SBI WeCare scheme offering an interest rate of 7.50%.
SBI Home Loan Interest Rate Concession – March 31
The special campaign discount on SBI home loans is available until March 31, 2024. This discount applies to all types of home loans, including flexipay, NRI, non-salaried, privilege, and Apon Ghar. The interest rate on these loans varies depending on the borrower’s CIBIL score.
For borrowers with a CIBIL score between 750 and 800, the regular interest rate is 9.15%. However, during the offer period, this rate is reduced to 8.60%, representing a concession of 55 basis points (bps).
For borrowers with a CIBIL score between 700 and 749, the regular interest rate is 9.35%. With the discount, this rate is lowered to 8.70%, resulting in a concession of 65 bps.
Paytm Payments Bank – March 15
The Reserve Bank of India (RBI) has extended certain timelines for Paytm Payments Banks related services. Previously, the central bank had prohibited Paytm Payments Bank from accepting fresh deposits or top-ups starting from February 29, 2024, due to persistent non-compliance and supervisory concerns.
However, this deadline has now been extended by 15 days to March 15, 2024. After this date, no further deposits, credit transactions, or top-ups will be permitted, except for cashbacks and refunds, as stated in the RBI press release.
IDBI Bank Special FD – Utsav Callable FD – March 31
IDBI Bank’s Utsav Callable FD provides higher interest rates for specific tenures: 300 days, 375 days, and 444 days, offering rates of 7.05%, 7.10%, and 7.25% respectively. This offer is valid until March 31, 2024.
Additionally, IDBI Bank has introduced a new offering called the “Special Limited Period Callable FD Offer of 300 Days” with peak rates of 7.55% per annum. This initiative falls under the Utsav FD scheme and is designed for customers seeking attractive rates in shorter tenures.
ALSO READ | Can Paytm customers use their Paytm wallets after March 15? FAQs answered
Tax saving – March 31
The deadline to complete your tax-saving exercise for the fiscal year 2023–2024 is March 31, 2024, so it’s important to act promptly if you haven’t done so already.
It’s important to note that starting from April 1, 2023, there have been changes to the income tax regulations with the introduction of the new tax regime. This new system is now the default for the fiscal year 2023–2024. Consequently, if an employee hasn’t selected a tax regime before April 2023, their employer will deduct tax on their pay (TDS) based on the income tax slabs under the new tax regime.
New SBI Credit Card minimum amount calculation rule – March 15
Starting from March 15, 2024, SBI Card will adjust how it calculates the minimum amount due on a credit card bill. According to information on the SBI Card website, the new calculation will include the Total GST, EMI amount, 100% of Fees/Charges, 5% of Finance Charge (if any), Retail Spends, Cash Advance (if any), and Overlimit Amount (if any).
Additionally, if the 5% of (Finance Charge + Retail Spends and Cash Advance) is lower than the Finance Charges, the Minimum Amount Due (MAD) calculation will be revised to include 100% of Finance Charges instead.
Fourth Installment of Advance Tax Payment – March 15
Individuals with a net income tax liability exceeding Rs 10,000 in a financial year (FY) are obligated to pay advance tax. Net tax liability is the estimated tax liability minus any TDS (tax deducted at source) in an FY. As per the Income Tax Act, 1961, such individuals must make four specified quarterly payments to avoid penal interest. However, not all individuals with a net income liability above Rs 10,000 in an FY are required to pay advance tax, as certain exemptions are allowed under income tax laws.
For the current FY 2023-24 (AY 2024-25), individuals need to make the first advance tax payment by June 15, the second by September 15, the third by December 15, and the final payment by March 15.


#Paytm #Payments #Bank #free #Aadhaar #updation #tax #saving #money #deadlines #March

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button