Like before the end of the financial year, employees need to take certain steps so as to ensure that their employers do not deduct TDS etc., herein because of the few developments in the financial work, you need to necessarily complete these financial tasks before the year ends.

1. File income tax belated return: In a case if you have missed filing ITR for AY 2018-19, you can still file a belated return before December 31, 2018 but with a penalty of Rs. 5000. And so to avoid paying higher penalty of Rs. 10000 for returns filed between January 1, 2019 and March 31, 2019, you need to hurry now. The penalty implications are as per the new income tax law i.e. Section 234 F.

For those with income of less than Rs. 5 lakh, the penalty amount is just Rs. 1000.

2. Apply for EMV debit or credit card: To enhance safety feature, RBI's circular dated August 27, 2015 switch to new EMV card necessarily by December 31, 2018. As post this deadline, magnetic stripe based cards will be rendered useless.

And to know whether or not the card you hold is EMV-based, you can conclude it as the chip based card features a chip of the face of the card on the left side.

3. SBI's net banking access: If you are among those SBI accountholders, who did not adhered to bank's guidelines to register your mobile number with them, possibly your net banking account might be blocked. So, as net banking is quiet essential for day to day banking, you need to hurry up and get your mobile number registered with the bank branch by visiting your nearest branch.

4. SBI Buddy wallet claim: Also if you had been an SBI Buddy wallet customer that offer a host of services and there is still left some balance in the account after the closure of the service from November 2018. You as per the bank's customer care division can still place the claim request to be processed.

5. Get CTS-2010 cheque book issued for yourself as a bank customer: As non-CTS cheque take time in processing and increase the overall cycle time, government has required all non-CTS cheques to be replaced with CTS-2010. If you too frequently deal in cheques, you can make out whether or not the cheque leaflet you hold is CTS 2010 compliant just by figuring out 'CTS-2010' i.e. printed on the left hand side of the cheque leaflet.

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