Precautions to protect assets after death – Part II

Continuing from Part – I.

Compliance-ChecklistPlease prepare a checklist on first of January or first of April each year of various due dates for compliance and prevent any omission/loss/ inconvenence. This will not only help keep track of your compliances as you advance in age, it will be of use for your
successors/relatives to take care of the responsibilities linked to assets in a systematic manner.
Note: One can include additional items to suit family/personal/business/official and other requirements.

S.No Description Due Date Date of compliance
1 Payment of LIC Premium
2 Advance Tax/TDS payments
3 Filing of IT return
4 Renewal of Mediclaim policy
5 Payment of vehicle insurance
6 Renewal of driving license
7 Renewal of Passport
8 Payment of SAS (Property Tax)
9 Renewal of membership
10 Annual Health Checkup
11 Renewal of licenses

Source: The above article is Published in the Journal of August 2014 by Kanara Chamber of commerce & Industry

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