Tax Deadline 2023: Here is a list of five financial deadlines in November that you should be aware of, ranging from life certificate (Jeevan Pramaan Patra) submission to special fixed deposit (FDs) schemes:
Life certificate or Jeevan Pramaan Patra submission
After retiring, one of the main criteria for pensioners or those over 80 is to present life certificates to approved pension disbursing entities, such as banks, post offices, etc., so that their pension can be credited to their account. The deadline for pensioners to submit their yearly life certificate for pension is November 30, 2023. The certificate will be valid for a full year after it is issued.
Tax deadlines
November has a variety of tax deadlines, according to the I-T department’s tax calendar.
The deadline for submitting taxes withheld or collected for the month of October 2023 is November 7. November 14 is the deadline for releasing the TDS certificate for taxes deducted in September 2023 under sections 194-IA, 194-IB, 194M, and 194S. The deadline for submitting a quarterly TDS certificate for the quarter ending September 30, 2023, is November 15. This pertains to tax deducted for payments other than salaries. It is also the deadline for government offices to file Form 24G in cases where TDS/TCS for October 2023 has been paid without a challan being produced.
November 30 is the deadline for religious organisations, professional associations, and charity trusts to file income tax returns. The I-T department extended the deadline for charity trusts, places of worship, and professional associations to file their ITRs by one month in September.
IDBI Bank Amrit Mahotsav FD
With terms of 375 days and 444 days, IDBI Bank is celebrating by extending its “Amrit Mahotsav Callable FD” to November 30 from its original deadline of October 31. For a 444-day period, IDBI Bank gives regular, NRE, and NRO clients a 7.15 percent interest rate under the Amrit Mahotsav FD scheme. Senior citizens receive a higher interest rate of 7.65 percent. Additionally, early withdrawal and closure are permitted under this FD. Senior citizens receive the same 7.65% interest rate for the 375-day Amrit Mahotsav FD, while normal, NRE, and NRO customers receive 7.10%. The 375-day FD allows for premature withdrawal and closure, just like the 444-day FD does.
HDFC Senior Citizen Care FD
On November 7, HDFC Bank’s 0.25 percent additional premium for Senior Citizen Care FDs will end.
According to the bank’s website, “During the special deposit offer commencing from May 18, 2020, to November 7, 2023, Senior Citizens who wish to book the Fixed Deposit less than 5 crores for a tenure of 5 (five) years One Day to 10 Years shall receive an Additional Premium of 0.25 per cent (above and beyond the existing premium of 0.50 per cent).” The current senior citizen FD rate offered by a private lender ranges from 3.5% to 7.75%.
Punjab and Sindh Bank Special FDs
New fixed deposit plans called PSB Dhan Lakshmi and PSB Saving Plus have been launched in Punjab and Sindh. They are good through November 30, 2023. With a minimum deposit of Rs. 500 and a maximum deposit of Rs. 1.99 crore, PSB Saving Plus has a 333-day term. General citizens are eligible for an interest rate of 6.50% annually under the special FD. The bank is giving 7% and 7.15% interest rates for elderly and super senior residents, respectively. The PSB Dhan Lakshmi deposit is valid until November 30, 2023, with a 444-day term. General citizens are eligible to earn interest rates of 7.40 percent annually under the special FD. The rates for elderly citizens and super senior citizens are higher, at 7.90% and 8.05%, respectively.
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