Important Personal Finance Events In December

The regulations for a number of financial concerns will change in December. Here are some major regulatory and operational developments that are likely to have an impact on your financial situation. The deadline to file your income tax returns is December 31. The filing date for the assessment year 2021-22 (financial year 2020-21) is December 31, 2021. If you haven't filed your income tax forms yet, it's a good idea to start now. Premiums for term insurance are expected to climb starting in December. Premiums for pure protection term insurance are expected to rise again in December. The increase may be between 25 and 45 percent this time due to increased reinsurance prices in the worldwide market. Given the country's historically low term insurance rates, the absolute premium increase might be significant. This time, too, the greater death rate caused by the epidemic is to blame. If you require additional term insurance coverage, you should not wait any longer to get it. SBI credit card EMI purchases will get more costly. SBI Cards & Payment Services Private Limited (SBICPSL) would levy a fixed processing fee of Rs 99 plus taxes on all equated monthly instalment (EMI) transactions from December 1, 2021. For all EMI transactions made at retail locations and e-commerce platforms like Amazon and Flipkart, the corporation will impose processing fees. These fees are in addition to the interest costs associated with turning the transaction into EMIs. The corporation sent out an email to its clients informing them of the increased price. This processing charge will be waived for any transaction completed before December 1 with an EMI booking made after that date.

Important Personal Finance Events In December