Many financial deadlines are approaching because we are only a month away from the new year. From revised FD rates to deadlines related to Aadhaar updates and income tax returns, people should keep a few dates in mind in December.
Those planning to invest their money in fixed deposits or update their Aadhaar ID should keep in mind the approaching financial deadlines in December.
Free Aadhaar Card Update
The Unique Identification Authority of India (UIDAI) has postponed the last date for free updates of Aadhaar details. Now, Aadhaar card holders can update the details of the document for free till December 14. They may update information relating to their name, address or date of birth free of charge through a fully online process. Please note that Aadhaar card holders can update their details after December 14, but only after paying a processing fee.
FD rates
A number of banks may revise their fixed deposit rates in December.
IDBI Bank Utsav FD
People can invest their money under IDBI Bank’s Utsav FD scheme to get returns of up to 7.85%. The Utsaf FD program will be available to the public until December 31. Under this FD program, the general public gets interest rates of 7.05%, 7.25%, 7.35% and 7.20% for 300 days, 375 days, 444 days and 700 days. days respectively. The interest rate will be higher for seniors.
Punjab & Sind Bank special FD
Under this FD scheme, people can get interest up to 7.45% on fixed deposit schemes. The revised interest rates for fixed deposits of Punjab & Sind Bank will come into effect from January 1, 2025.
The bank offers 7.20% of returns on FDs for a tenure of 333 days. People receive an interest rate of 7.3% for a duration of 444 days. For a (on demand) deposit of 555 days, the bank offers an interest rate of 7.45%. On a special deposit of 777 days, people can benefit from an interest rate of 7.25%. The existing rates apply for a period up to and including December 31.
Delayed ITR application
Those who missed filing their income tax returns (ITR) for the financial year 2023-24 (FY 24) before the July 31 ITR filing deadline will have the last chance to file their ITR in December.
Those who could not file ITR by July 31 can file a late ITR with a specific penalty amount till December 31. However, taxpayers would be required to file a late fee of ₹5,000. The amount of the late fee is ₹1,000 if total income is less than ₹5 lakhs.
TRAI deadline
The Telecom Regulatory Authority of India (TRAI) will implement new traceability rules from December 1, 2024, designed to combat spam and phishing messages. The new rules are likely to have a short-term impact on OTP services. However, TRAI on Friday assured that there will be no delay in OTP services after the rules are implemented.
“TRAI assures that the message traceability mandate will not delay the delivery of messages and OTPs,” TRAI said in a post on
