As the month of March is moving towards its end, the excitement regarding the financial year 2025-26 has intensified. March 31 is not only the last date of the budget, but it is also the deadline for many important financial works. If you invest in the stock market or have an account in any bank, then you have very little time left to complete these 3 most important updates. If you do not complete these tasks by 12 midnight on March 31, 2026, your account may be frozen or you may have to pay a heavy fine.
1. Nomination in bank and demat
As per SEBI and RBI rules, it is now mandatory to add the name of the nominee in all bank accounts and demat accounts. If you have not yet added a nominee to your account, your account may become inoperative. You can complete the e-nomination process from the comfort of your home through net banking or your stock broker’s app. For this, it is sufficient to mention only the name of the nominee and your relationship with him.
2. KYC Update and Bank Account Activation
Many banks including Punjab National Bank (PNB) have recently issued notifications asking customers to update their KYC details. Accounts in which there has been no transaction for the last 2 years have been declared inoperative. Such customers have time till April 15, but due to March closing, it is safe to complete the work by March 31. Visit your home branch with Aadhar Card, PAN Card and your latest photograph or avail Video KYC (V-CIP).
3. Tax Saving and PAN-Aadhaar Linking
This is the last chance to save tax at the end of the financial year. Invest before March 31 to get a discount of up to Rs 1.5 lakh in PPF, ELSS or life insurance. If your PAN card is still not linked to Aadhaar, it may have become inoperative. Start the process of re-linking it immediately with a fine of Rs 1000, otherwise you will not be able to file your Income Tax Return (ITR).
result of delay
- If you miss these deadlines, you may face many problems from April 1, 2026:
- Your demat account may be frozen, due to which you will not be able to sell shares.
- There may be a ban on withdrawing or transferring money from the bank account.
- TDS rates can go above 20%.