March is extremely important to all. The fiscal year comes to an end in March, and according to this, March is essential for everyone in terms of finances. If you are also looking for tax exemption, you’ll need to complete several tasks before the 31st of March. We will tell you what tasks you need to finish during the next 31 days.
PM Vaya Vandana Yojana
If you’re also considering investing your money into this scheme by the government, it’s your final opportunity. This scheme is extremely useful for people who are over 60. The pension is provided by the government. The government has informed us that this program will be terminated after March 31st, 2023. Therefore, you are able to invest in it until March. At the moment, no announcement is issued from the federal government in order to keep the scheme.
Link PAN that is linked to Aadhaar
There is only one day left until the 31st of March to connect to your PAN and your Aadhaar. In order to do this, you’ll need to be liable for a late fee. However, you must link before the 31st, otherwise, you won’t be able to pay the tax.
There is a final chance to plan how to reduce tax burdens during the year. In the following year, if you invest in a tax-saving scheme, you won’t be able to enjoy the benefit of deductions on the investment. It is possible to invest in a variety of schemes, including PPF, NPS, and Sukanya Samriddhi.
Inscribing in an insurance plan
Let me know if a LIC policy that has an annual cost of greater than Rs 5 lakh won’t be eligible for tax-free status. Finance Minister Nirmala Sitharaman disclosed this information during the last budget. We need to know if this rule will apply beginning on April 1, 2023.
Mutual Fund Scheme
If you haven’t yet completed your nomination for the Mutual Fund Scheme, then you need to complete this process as well by the 31st of March. Fund houses have requested everyone to complete their information. If you fail to complete the nomination, your mutual fund portfolio will be frozen. So it is recommended to complete the work as well by March 31.
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