With the new year just a month away, many financial obligations are coming up. People need to remember several dates in December, including updated FD rates, Aadhaar update deadlines, and income tax return deadlines.
The financial deadlines in December are important for anybody wishing to update their Aadhaar ID or invest in fixed deposits.
1. Free Aadhaar Card Update
The deadline for free Aadhaar data upgrades has been extended by the Unique Identification Authority of India (UIDAI). Up to December 14, holders of Aadhaar cards can now change the document’s data for free. Through a completely online method, they are permitted to alter details like their name, residence, or birthdate for free. Please take note that after December 14, holders of Aadhaar cards will be allowed to amend their information, but only after paying a processing charge.
2. FD rates
In December, some banks could change their fixed deposit bank rates.
- IDBI Bank Utsav FD
Customers may receive a return of up to 7.85% by using IDBI Bank’s Utsav FD program. The public will have access to the Utsaf FD plan till December 31. The general public will get interest rates of 7.05%, 7.25%, 7.35%, and 7.20% for tenures of 300 days, 375 days, 444 days, and 700 days, respectively, under this FD program. Senior folks will pay higher interest rates.
- Punjab & Sind Bank special FD
People can receive interest rates on fixed deposit plans of up to 7.45% under this FD program. Revised Punjab & Sind Bank Fixed Deposit interest rates will come into effect from 1 January 2025.
For 333 days, the bank provides FDs with yields of 7.20%. For 444 days, people will get an interest rate of 7.3%. The bank gives an interest rate of 7.45% on deposits that are 555 days (callable). People may take advantage of a 7.25% interest return on a unique deposit of 777 days. The previous tariffs will be applicable for a period up to December 31.
3. Belated ITR filing
The final opportunity to file an Income Tax Return (ITR) for the Financial Year 2023-24 (FY 24) is in December for those who failed to do so prior to the July 31 ITR filing deadline.
A delayed ITR with a specified penalty amount may be filed until December 31 by those who were unable to file one on July 31. Nonetheless, taxpayers will have to pay a ₹5,000 late fee. If the total revenue is less than ₹5 lakh, there is a ₹1,000 late fee.
4. TRAI Deadline
Beginning on December 1, 2024, the Telecom Regulatory Authority of India (TRAI) will enforce new traceability regulations intended to counteract phishing and spam communications. OTP services would probably be impacted by the new regulations for a brief time. On Friday, however, TRAI promised that OTP services would be completed on time once the regulations were put into effect.
In a post on X, TRAI stated that the Message Traceability Mandate will not cause any delays in message and OTP deliveries.
