Complete These 3 Essential Tasks by March 31st, or Face Higher Salary Deductions and Penalties
Rules Change: Only 2 days now remain until the conclusion of the financial year 2025-26. It is mandatory to deposit the minimum required balance into PPF, NPS, and Sukanya accounts by March 31st.
Rules Change: Today is March 30th, and only 48 hours remain until the end of the current financial year (2025-26). After the March 31st deadline passes, you could miss out on various financial benefits and opportunities for tax exemptions. Based on reports, here are the 3 critical tasks you must complete before midnight tomorrow.
Keep Government Schemes Active
- To keep savings schemes such as PPF, NPS, and the Sukanya Samriddhi Yojana (SSY) active, it is mandatory to deposit a minimum amount every year.
- Why It Is Important: If you fail to deposit the minimum amount (e.g., ₹500 for PPF), your account will become 'discontinued' or dormant. To reactivate it, you will have to make multiple visits to the bank and also pay a penalty.
| Scheme |
Main Objective |
Minimum Investment |
Interest Rate |
| PPF (Public Provident Fund) |
Safe fixed returns |
₹500 |
7.1% |
| NPS (National Pension System) |
Retirement and pension planning |
₹1000 |
9% – 12% |
| SSY (Sukanya Samriddhi Yojana) |
Securing a girl child’s future |
₹250 |
8.2% |
Old Tax Regime: The Last Chance to Save
- If you have opted for the Old Tax Regime, tomorrow is the final day to make investments in order to avail of tax exemptions.
- Section 80C: Under this section, you can invest in PPF, ELSS, or pay life insurance premiums to claim deductions of up to ₹1.5 lakh.
- Section 80D: You can avail of additional deductions of up to ₹1 lakh on health insurance premiums and medical expenses incurred for your parents. Remember, any investments made on or after April 1st will be counted towards the next financial year (2026-27).
'Investment Proof' is Essential for the Salaried Class
- For salaried individuals, this is the most critical task of all. If you have not yet submitted your investment proofs to your office (HR/Finance department), a substantial amount of TDS may be deducted from your March salary.
- What to submit: House rent receipts (for HRA), LIC/insurance premium receipts, receipts for children's tuition fees, and a home loan interest certificate.
- The downside: If you fail to provide these proofs, the company will deduct a higher amount of tax from your final salary. To claim a refund for this excess tax, you will have to wait until you file your Income Tax Return (ITR) next year.
