March 31 Deadline: Crucial Tax Tasks to Maximize Savings & Avoid Penalties

• Complete tax-saving investments by March 31 for FY 2024-25 deductions, especially under the Old Tax Regime (PPF, SSA, NPS, 80D, 80G).
• Pay the final advance tax installment by March 15 for FY 2025-26 if your liability exceeds Rs 10,000.
• Submit investment proofs to your employer to prevent higher TDS deductions from your salary.
• Claim deductions for home loan interest (Section 24(b)) and health insurance premiums (Section 80D).
• Consider tax gain harvesting for equity investments to utilize the Rs 1.25 lakh LTCG exemption under Section 112A.