The year 2024 is in its final stages, and this is the time to complete important financial and tax related tasks. 31 December 2024 There is a last date for many important financial and tax related tasks. Completing these on time will not only keep your money safe but also help you avail tax savings and other benefits. Let us know what tasks you have to complete before the end of the year.
1. ‘Vivad se Vishwas’ scheme: Last chance
Deadline: 31 December 2024
of central government ‘Dispute Se Vishwas’ Scheme It is for those taxpayers who are struggling with income tax disputes.
- The objective of this scheme is to resolve old tax disputes in less amount.
- Taxpayers can take advantage of this scheme till December 31 to settle disputed cases.
- This plan is a great opportunity to avoid penalties and additional interest along with a stress-free solution.
2. Investing in Special FD: Benefit of higher interest
Deadline: 31 December 2024
like some banks Punjab and Sindh Bank And IDBI Bank has launched special fixed deposit schemes, the last date for investing in which is December 31.
- on these FDs Interest up to 8.10% Getting the rate.
- This is a golden opportunity for investors seeking safe and high returns.
- You can make your savings more profitable by participating in this investment scheme.
3. ITR filing and revision: Last date
Deadline: 31 December 2024
If you are on time for Financial Year 2023-24 (Assessment Year 2024-25) Income Tax Return (ITR) If you have not been able to file, then the last chance to complete it is till 31st December.
- Penalty on late filing: A penalty of up to ₹5,000 can be imposed for late filing of ITR.
- Revision Opportunity: If there is any mistake in the previously filed ITR, then the deadline to revise it is also 31st December.
- If you do not revise on time, you may miss the opportunity to correct mistakes.
Importance of meeting deadlines
- Economic Security: Completing financial tasks on time has a positive impact on financial planning.
- Tax Saving: By using the schemes properly, you can avoid tax cuts and disputes.
- Benefits of Interest and Returns: Investing in schemes like special FD will give you the benefit of higher interest rates.
