March is the final month of a monetary yr in India.
Keeping monitor of key dates in March empowers people to successfully navigate their monetary tasks and private info all through the month.
March 2024 marks a pivotal interval for people managing their monetary and administrative obligations, with a flurry of deadlines demanding consideration. From tax-saving investments to essential doc updates, staying organised is paramount to sidestepping final-minute hassles.
Keeping monitor of key dates in March empowers people to successfully navigate their monetary tasks and private info all through the month.
Also Read: Exhausted Your Section 80C Limit? Check These 10 Tax-Saving Investment Options
Among these deadlines, March 31, 2024, looms massive, with necessities for furnishing varied tax-associated statements below completely different sections. It’s an important date for guaranteeing compliance and avoiding penalties.
March 30, 2024
- The due date for furnishing of challan-cum-assertion in respect of tax deducted below part 194-IA within the month of February 2024
- ​​The due date for furnishing of challan-cum-assertion in respect of tax deducted below part 194-IB within the month of February, 2024​
- ​The due date for furnishing of challan-cum-assertion in respect of tax deducted below part 194M within the month of February, 2024
- ​The due date for furnishing of challan-cum-assertion in respect of tax deducted below part 194S (by specified particular person) within the month of February, 2024
March 31, 2024
- Tax-saving investments: This is the deadline to make investments that may aid you save tax for the monetary yr 2023-2024.
- The deadline for submitting a revised ITR for the fiscal yr 2021-22 is March 31, 2024. Therefore, taxpayers who did not file their returns for that monetary yr or might have ignored reporting any earnings have the chance to submit a revised ITR or ITR-U.
- Taxpayers have the choice to file an up to date return inside 24 months (2 years) from the conclusion of the related evaluation yr, offered sure circumstances are met. Therefore, if taxpayers did not file for the fiscal yr 2019-20, they will nonetheless achieve this till March 31.
March 31, 2024
- Country-by-nation report in Form No. 3CEAD for the earlier yr 2022-23 by a guardian entity or the alternate reporting entity, resident in India, in respect of the worldwide group of which it’s a constituent of such group
- ​Country-by-nation report in Form No. 3CEAD for a reporting accounting yr (assuming reporting accounting yr is April 1, 2022 to March 31, 2023) by a constituent entity, resident in India, in respect of the worldwide group of which it’s a constituent if the guardian entity shouldn’t be obliged to file report below part 286(2) or the guardian entity is resident of a rustic with which India doesn’t have an settlement for trade of the report and so on.
- ​Uploading of assertion [Form 67], of international earnings supplied to tax and tax deducted or paid on such earnings within the earlier yr 2022-23, to say international tax credit score [if the return of income has been furnished within the time specified under section 139(1) or section 139(4)
- ​Furnishing an updated return of income for the assessment year 2021-22.
March 31, 2024: Pradhan Mantri Vaya Vandana Yojana
Registration for the Pradhan Mantri Vaya Vandana Yojana is open until March 31, 2024. This initiative provides seniors aged 60 and above with a steady income in exchange for a one-time contribution. With an annual interest rate of 7.4%, the scheme offers financial stability over its ten-year tenure.
March 31, 2024: FASTag Know Your Customer Update
In light of the challenges experienced by Paytm Payments Bank FASTag users, the National Highways Authority of India (NHAI) has extended the compliance deadline for the ‘One Vehicle, One FASTag’ initiative until March 31, 2024.
As a result, FASTag users now have an extra month to complete the KYC requirements.
