This financial year 2025-26 is ending today i.e. on 31 March 2026. In such a situation, there are some things related to your financial health, there are some deadlines about which it is very important to know. If you do not complete the remaining work today, you may have to suffer loss in the form of tax, interest or penalty later. Therefore, it is wise that you complete those tasks today.
1. Calculate advance tax
If your total tax liability exceeds Rs 10,000, you are required to pay advance tax during the year. Many people ignore it, but doing so can be costly. If you have not deposited advance tax on time, you may have to pay interest. Also, if a major part of the total tax is not deposited by March 31, additional interest may also be charged. Therefore, calculate your tax immediately and deposit whatever is due as soon as possible.
2. Last chance to save tax
If you are in the old tax system, you still have a chance to save tax. You can reduce your tax liability by investing in some special schemes. For example, you can get good discounts by investing in PPF, ELSS, Life Insurance, NSC and Tax Saving FD. Apart from this, you also get separate benefits by making additional investment in NPS. Tax relief is also available on taking health insurance or paying its premium. Therefore, take advantage of these options without any delay.
3. If you have changed job, do not forget this work
If you have changed jobs this year, then there is one important task which people often forget. You should inform your new office about the salary of your previous job. If you do not do this, your tax may not be calculated correctly and later you may have to pay additional tax while filing ITR. Therefore, please share this information in time.
4. Keep PPF and Sukanya account active
Many people open an account in PPF or Sukanya Samriddhi Yojana, but forget to deposit the minimum amount in it every year. If you do this, your account may be deactivated. Additional fees may have to be paid to restart it. Therefore, make sure that you deposit the required minimum amount in it before the end of the year.
5. Do not delay MSME payment
If you do business and take goods or services from small or medium industries, then it is very important to pay them on time. If you do not make the payment within the stipulated time limit, you will not get the benefit of that expenditure in tax, which may increase your tax liability. Therefore, reconcile all your outstanding payments and clear them on time.
6. Take care of capital gains and losses
Be sure to check the complete account of your investment today. It is important to know how much profit you have earned or suffered from shares or mutual funds. If there is any loss, you can save tax by adjusting it with the profit. By adopting this process wisely, your total tax liability can be reduced.
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