June 30 Deadline: Complete These Key Financial Tasks Before Time Runs Out

With June drawing to a close, individuals and businesses have just days left to complete several important financial and tax-related formalities before the June 30 deadline.

From LPG subsidy verification to tax scrutiny timelines and quarter-end compliance, missing these deadlines could result in delays, loss of benefits or additional compliance burdens.

Here’s a look at the key financial tasks that need attention before the month ends:

LPG e-KYC Mandatory for Eligible Subsidy Beneficiaries

Eligible LPG consumers who have not completed their Aadhaar-based biometric e-KYC by June 30 risk losing direct subsidy transfers into their bank accounts.

The Petroleum Ministry has clarified that the verification requirement is not applicable to every LPG customer. It is mandatory only for:

Beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY), who are required to complete e-KYC every year.
Non-PMUY consumers receiving LPG subsidy who have not yet undergone Aadhaar-based verification.

Consumers who have already completed e-KYC during the current financial year do not need to repeat the process.

Even if e-KYC is not completed, customers of Indane, Bharat Gas and HP Gas will continue to receive LPG cylinder deliveries. However, the subsidy amount will no longer be credited to their bank accounts, meaning they will have to bear the full market price of the cylinder.

June 30 Marks Deadline for ITR Scrutiny Notices

Although the due date for filing Income Tax Returns (ITRs) for FY 2025-26 is July 31, 2026, June 30 is an important date for taxpayers who have already filed their returns.

It is the last day for the Income Tax Department to issue scrutiny notices under Section 143(2) for eligible returns selected for detailed examination.

Returns may be picked for scrutiny if authorities identify discrepancies between the information disclosed in the ITR and data available through Form 26AS, the Annual Information Statement (AIS), the Taxpayer Information Summary (TIS), bank records or other financial databases. High-value transactions, inconsistencies in income reporting, reassessment cases or returns linked to search and survey proceedings may also attract scrutiny.

Quarter-End Compliance for Businesses

June 30 also marks the end of the April-June quarter, making it an important compliance milestone for businesses.

Companies should ensure their books of accounts are updated and reconcile GST transactions, tax deductions and statutory records before the quarter closes. This will help them meet the upcoming GST, TDS and TCS return filing deadlines in July without last-minute discrepancies or penalties.

Timely reconciliation of invoices, tax payments and accounting records can also reduce the risk of notices and compliance issues during future assessments.

With multiple financial deadlines converging on June 30, taxpayers, LPG subsidy beneficiaries and businesses are advised to complete the required formalities well before the deadline to avoid unnecessary disruptions or penalties.