Finish these tasks in September

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September is here and there are four tasks related to personal finance, whose deadline is nearing. If you have not yet updated the nominee in the mutual fund, then do it quickly. If you don’t update the nominee by September 30, 2023, your account may be frozen. Apart from mutual funds, there are some other tasks related to personal finance which need to be completed in September. If you do not complete these tasks, you may have to bear the loss.

Nominee Update The Securities and Exchange Board of India (SEBI) has set the last date for filing nominees for mutual funds as September 30, 2023. SEBI has made it mandatory to have a nominee for all demat, trading, and mutual fund accounts. If you do not do this, your portfolio will freeze. After this, you will not be able to sell mutual funds.

You can update the nominee in your mutual fund holding at the nearest AMC/RTA branch. Apart from this, you can update the nominee online on the website of AMC/RTA or on mfcentral.com. However, if your folio is in joint name then you may face problems in updating the nominee online as the MF Folio needs to have the contact details of all the joint holders.

Sovereign Gold Bond Scheme The second installment of the Sovereign Gold Bond Scheme is going to be released. Under the second series, you can invest in gold bonds between September 11 and September 15, 2023. Its allotment date will be September 20, 2023. The first series of Sovereign Gold Bond Scheme 2023-24 was opened between June 19 and June 23.

TCS on foreign spend After September, you may find it expensive to celebrate holidays abroad. From October 1, 2023, 20 percent TCS will be applicable on foreign tour packages. At present, the rate of TCS is 5 percent. This means that on buying a foreign travel package from an Indian operator, you will have to an additional 15 percent tax on the cost of the package. Though this tax can be claimed back after filing returns.

Rs 2,000 note

The Reserve Bank of India had announced the withdrawal of the Rs 2,000 note. However, the Rs 2,000 notes present in the market will remain in circulation for the time being. But RBI had asked people to deposit Rs 2,000 notes in banks. You can deposit 2,000 rupee notes in the bank till September 30, 2023.