From Taxes to Investments: 8 Important Deadlines You Should Know Before March 31, 2025

As the financial year ends on March 31, 2025, important deadlines and rule changes will affect taxpayers, investors, and credit card users. From the last chance to invest in the Mahila Samman Savings Certificate to new UPI verification rules, it is important to act soon to stay on track.

The deadline to file your updated ITR is coming up soon, and missing it could mean paying higher penalties. Special Fixed Deposit (FD) schemes from major banks are also ending soon. Additionally, SBI Cardholders should be prepared for some big changes in their credit card rewards.

Mahila Samman Savings Certificate Submission Deadline

The Mahila Samman Savings Certificate scheme allows only women and girls to invest, and guardians can invest on behalf of minor girls. You can start with a minimum investment of Rs. 1,000, with a maximum limit of Rs. 2 lakh per person. The last date to invest in this scheme is March 31, 2025.

UPI Rule Updates

UPI apps will now need clear permission from users before creating or changing their numeric UPI ID. Users will not be automatically opted in — they must choose to enable this feature if they want to use it. Also, apps cannot ask for this consent during a transaction to prevent any confusion.

Revised Tax Return Deadline

If you lost your chance to file your income tax return, you can still submit an updated return within two years from the last day of the concerned assessment year. However, the extra tax you must pay depends on when you file:

• Before March 31, 2025: You pay 25% of the tax owed plus interest if you file during the first 12 months from the start of the extended period.
• After March 31, 2025: The extra charge increases to 50% of the tax and interest if you file between 12 and 24 months.

Small Savings Schemes – Interest rates may be revised.

The government updates the interest rates for Post Office Small Savings Schemes every three months. In December, it decided to keep the rates the same for the fourth time in a row for the January to March period. The new rates for April to June will be announced by March 31, 2025.

Save on Taxes Before March 31

At the end of the financial year, taxpayers need to ensure they have finalized their tax-saving investments and filed declarations that are required by March 31. Careful planning would help save on taxes and construct a sound financial future.

Keep in mind that those opting for the new tax regime cannot claim tax-saving investments.

SBI Credit Card Updates Its Rewards System

SBI Card, the second-largest credit card provider in India, will introduce changes to its rewards program starting April 1, 2025. These updates will affect several popular cards, including the Club Vistara SBI Credit Card, Club Vistara SBI PRIME Credit Card, SimplyCLICK SBI Card, Air India SBI Platinum Credit Card, and Air India SBI Signature Credit Card.

Exclusive Fixed Deposit (FD) Deadlines

Leading banks such as SBI, IDBI Bank, Indian Bank, HDFC Bank, and Punjab & Sind Bank are providing special fixed deposit (FD) schemes with attractive interest rates. These schemes are available for general investors, senior citizens, and super senior citizens, with interest rates varying based on the chosen tenure and category.

Last Date to Apply for the PM Internship Scheme (PMIS)

The PM Internship Scheme (PMIS) is a government program released by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25. The registration deadline has now been extended to March 31, 2025. If you want to apply for an internship, make sure to submit your application before this date. Earlier, the deadline was March 12, 2025.