The time has come for the end of the financial year 2024-25. March 31 is the last date before which you have to complete many essential tasks. These include saving income tax and investing in various investment schemes. Also, March 31 is the last date for many government schemes, and after this many rules will also change.
March 31 is the last day of the financial year and the new financial year starts the next day i.e. April 1. If you have not completed some important work yet, then without delay, get them done before March 31, so that you do not have to face any kind of problem. So let’s know what are those 5 important tasks that you should get done today.
Last chance to invest in women
Mahila Samman Savings Certificate Scheme is exclusively for women and girls. Parents or guardians can invest on behalf of minor girls. A minimum of ₹ 1000 has to be deposited in this account and a maximum of ₹ 2 lakh can be invested. The last date to invest in this scheme is March 31, 2025. This is a great savings scheme for women that offers attractive interest rates, so if you are thinking of investing in this scheme, do it today.
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UPI rule changes
From April 1, UPI apps will ask their users for their consent. Users will have to explicitly say ‘yes’ to create or change a new or existing numeric UPI ID. Existing users will be left out. They will have to opt in themselves if they want to use this feature. Apps may not ask for this consent during transactions so that there is no confusion. This change is being made with the aim of making UPI more secure and user-friendly.
Small savings scheme interest rates
The government announces the interest rates of small savings schemes like Sukanya Samriddhi Yojana, PPF, Senior Citizen Savings Scheme, etc. every three months. During this period, the interest rates of these schemes may or may not change.
In December, the government did not change the interest rates for the fourth time for January-March. The new rates for April-June 2025 will be announced by March 31, 2025. If you are thinking of investing in these schemes, keep an eye on the new interest rates coming on March 31.
Save Income Tax
The financial year 2024-25 is about to end. Therefore, taxpayers should invest in tax-saving schemes before March 31. These include Section 80C, 80D, etc. By investing in these schemes, you can reduce or zero your income tax liability.
Also, you can secure your future by investing in them. However, the benefit of savings in these schemes can be availed only in the old tax system. If you opt for the old tax system, do not miss this last chance to save tax by investing before March 31.
Last day to invest in special FD
The last date to invest in special FD (fixed deposit) of many banks is March 31. Banks like SBI, IDBI Bank, Indian Bank, HDFC Bank, and Punjab & Sind Bank have launched special FD schemes. Good interest rates are being offered in these schemes.
These schemes are for common investors, senior citizens, and super senior citizens. Interest rates are different according to different times and categories. If you are looking for a safe investment option with attractive interest rates, then you can consider investing in these special FD schemes before March 31.
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