Complete these 10 money related tasks by 31st March, otherwise there will be loss, read full news

Along with the month of March, the financial year 2025-26 is also going to end in these three days. There is a chance to complete many financial tasks by 31 March 2026. If these are not settled by the deadline (31 March Deadline), then you may have to face financial problems in future. This includes work related to tax, banking, investment, PAN card and GST.

The last date for updated income tax return (ITR-U) for assessment year 2021-22 is March 31, 2026. During this period taxpayers can correct their mistakes. It can be filed even if you have missed the original deadline and the period for filing a belated return or missed the opportunity to update the return.

Tax and GST related work

• The date for filling Foreign Tax Credit i.e. Form 67 is also 31 December 2026. This work is necessary for taxpayers with foreign income. Failure to submit it on time may result in the FTC’s claim being rejected.
• Taxpayers can pay advance tax till 31 March. Failure to do so may also result in a penalty.
• Businesses that have registered under GST have to file annual returns on time. Failure to do so may result in late fees and notice.
• The last date to claim input tax credit for invoices was March 31. Failure to do so may impact business ITC.
• Employees will have to submit tax declaration to the employer by 31 March. So that TDS calculation can be ensured properly.

claim tax exemption

• This is the last chance to claim tax deduction for the financial year 2025-26. So that if you also invest in tax saving schemes, then you can claim tax exemption on PPF, ELSS life insurance premium and principal repayment on loan under Section-C.
• Under Section 80D, you can avail tax exemption on health insurance premium for self, family and parents.
• To avail tax exemption of Rs 50,000 on NPS under Section 80CCD (1B), deposit the minimum amount before March 31.

complete these tasks also

• Investors in small savings schemes are advised to deposit the minimum amount by the deadline. So that they can get the benefit of tax exemption under the old tax regime.
• Taxpayers are advised to verify the amount in the Annual Information Statement and Form 26AS by March 31. So that any kind of mismatch or situation of receiving notice from Income Tax Department does not arise.
• After March 31, you will not be allowed to apply for PAN card without Aadhaar. If you want to get your PAN card along with work documents, then this is the right opportunity. After this, birth certificate, voter ID, passport, driving license, 10th certificate and other government documents may be required.