Outlook Money
For all taxpayers who come under the old tax regime, it is important to invest in tax-saving schemes before March 31 to lower taxable income.
In case taxpayers who have errors or have omitted to report income in previously filed returns can now file a revised return (ITR-U) on or before March 31, 2025.
Special FD schemes have been launched by the banks which offer better returns for a limited period during the last two years. Investment in such FDs should be made before March 31.
To monitor and manage their provident fund accounts online, EPF members need to activate their Universal Account Number (UAN). Up to Rs 7 lakh in insurance coverage is available. UAN activation must be completed by March 15, 2025.
March 31 is the deadline for completing these financial tasks, but it's also a good time to review financial goals.