As the financial year draws to a close, the last few days of March become crucial for getting your money matters in order. Missing key deadlines now could mean higher taxes, extra paperwork, or lost benefits. Here are three important financial tasks you should not ignore before March 31, 2026.
PAN APPLICATION RULES SET TO CHANGE
If you are planning to apply for a PAN card with minimal documentation, time is running out. Until March 31, applicants can still use Aadhaar as a standalone document for a simpler process. However, from April 1, the rules are expected to become stricter.
This means you may have to submit additional documents such as a birth certificate, passport, voter ID, driving licence, or even affidavits where required. In short, what is a quick process today could become more time-consuming from the next financial year.
LAST CHANCE TO SAVE TAX UNDER SECTION 80C
For taxpayers following the old tax regime, this is the final window to make investments that can help reduce taxable income. Contributions to options like Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and the National Pension System (NPS) must be completed before March 31.
Delaying these investments could mean missing out on valuable tax deductions for the current financial year. It is not just about investing, but ensuring the money is actually credited before the deadline.
SUBMIT PROOFS TO AVOID HIGHER TAX DEDUCTION
If you have already declared tax-saving investments to your employer, the next step is equally important, i.e., submitting proof. Employers usually set a payroll cut-off date before the end of March to collect these documents.
Failing to submit proofs on time could lead to higher tax being deducted from your salary in the remaining days of the financial year. While you can claim refunds later, it may impact your monthly cash flow in the short term.
As March 31 approaches, taking care of these tasks can help you avoid last-minute stress and unnecessary financial setbacks. A little action now can go a long way in keeping your finances on track.
