These are the most important financial deadlines in 2021

ITR filing, life certificate for pension and many more deadlines are approaching in 2021

Numerous financial deadlines are approaching now that we are entering into a new year. But this year, the list is longer than usual, as the Covid-19 pandemic pushed many important deadlines into the next year.

Here are the most important dates you need to remember:

1. January 10, 2021: ITR deadline for salaried individuals

The last date for filing your income tax return (ITR) for the financial year 2019-20, after many extensions, is January 10, 2021. Missing this deadline may result in a Rs 10,000 penalty. The deadline was last extended on December 30 for individuals whose accounts do not require audits.

2. January 15, 2021: Deadline to submit tax audit report

After extending the deadline a few times, the government set this as a deadline for submission of tax audit report and reports related to international and domestic transactions for FY2019-2020.

3. January 31, 2020: Deadline to file declaration under 'Vivad se Vishwas' scheme

This scheme was rolled out in Budget 2020 to solve income tax disputes and reduce pending income tax caseload.

4. February 15, 2021: ITR deadline for specified individuals

Those individuals whose accounts need special audits can file their income tax return for FY2020 by this date.

5. February 28, 2021: Last date to submit life certificate for pension

To avoid crowds at the government offices and keep senior citizens at home during the pandemic, the government had extended this deadline from November 30 to February 28.

6. March 31, 2021: Deadline to link PAN and Aadhaar

As per the law, if PAN and Aadhaar are not linked then PAN card will become inoperative. It will become operative again on the date you link the Aadhaar number with the inoperative PAN card.

7. March 31, 2021: Belated deadline for ITR filing for salaried individual

If you miss the January 10 deadline to file your ITR, and you do not require an audit, then you can file your ITR for FY20 by this date. Do note that this comes with a penalty payment of Rs 10,000.

8. March 31, 2021: Last date to finish tax-saving exercise

Completing the tax-saving exercise can help you reduce your tax liability in FY21

9. March 31, 2021: Emergency Credit Line Guarantee Scheme ends

This date marks the end of the Centre’s credit scheme launched on May 13, 2020, to provide collateral-free loans to entities for various purposes, including business.

10. March 31, 2021: Last date to avail Special Festival Advance Scheme

This is the last date for government employees to avail an interest-free advance of Rs 10,000, recoverable in 10 months.

11. March 31, 2021: Last date to get the benefit of credit subsidy under PMAY

This is the last date to avail credit subsidy benefit under the Pradhan Mantri Awas Yojana (PMAY), which gives credit-linked subsidies on home loans to middle-income groups.

12. July 31, 2021: ITR deadline for FY 2020-21

This is the last date for ITR filing of the financial year 2020-21. Those filing can choose between the existing tax code or the new concessional code.