Himani Chowdhary Shares Crucial Financial Deadlines in June 2024

Are you aware of the important financial deadlines falling in June 2024? If not, it's time to pay attention. Failing to meet these deadlines related to income tax, mutual funds, and investments can result in hefty penalties. Himani Chowdhary, a renowned finance influencer, highlights three crucial tasks that must be completed by the end of June to keep your finances in check. Let's dive in and ensure you're well-prepared to avoid any financial setbacks.

Collect Form 16 from Employers

One of the first tasks to tackle this month is collecting Form 16 from your employers. Form 16 is essential for filing your Income Tax Return (ITR) promptly and accurately. This document summarizes your salary paid and the taxes deducted during the financial year.

Add a Nominee to Your Mutual Fund Account

Starting from 1st July, mutual fund accounts without a designated nominee will face deactivation. This means you won't be able to withdraw money from your demat account until you add a nominee.

Pay Your Tax Before 15th June

If your total tax liability exceeds Rs. 10,000, ensure you pay your tax before 15th June. Missing this deadline will result in a penalty charged at 1% per month on the outstanding amount.

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Meeting these crucial financial deadlines in June 2024 is essential to avoid penalties and ensure smooth management of your finances. By collecting Form 16 from your employers, adding a nominee to your mutual fund account, and paying your tax before the 15th of June, you can safeguard your financial health. Follow Himani Chowdhary's expert advice to stay on top of your financial obligations and enjoy peace of mind. Don't let these deadlines slip by—take action now!