Today deadline alert: Don’t miss these tax, banking and investment last date

Mumbai: As the financial year 2025–26 comes to a close, March 31 has once again become one of the most important dates for taxpayers, investors and banking customers across India.

Missing key deadlines today could mean higher taxes, lost benefits, or missed financial opportunities in the new financial year.

For salaried individuals in particular, this is the final window to complete tax-saving investments. Those opting for the old tax regime must ensure all eligible deductions are locked in before the day ends to reduce taxable income.

One of the most significant deadlines relates to filing an updated income tax return. While taxpayers are allowed to revise returns within a two-year window, the cost of doing so increases after March 31. Filing before the deadline attracts an additional 25% tax and interest liability, but delaying it further raises this burden to 50%, making timely action financially important.

At the same time, several banking and investment-related changes are also tied to this date. Many banks are closing their special fixed deposit schemes offering higher interest rates, making today the last chance for investors to secure those returns. These limited-period schemes, offered by major public and private sector banks, are aligned with the financial year cycle.

Insurance purchases also see a last-minute surge around this time, as individuals rush to meet tax-saving targets. However, financial experts continue to caution against making rushed decisions purely for tax benefits, emphasising the need for long-term planning.

There are also regulatory changes on the horizon. From April 1, new rules for UPI-based payments will require users to give explicit consent before linking or updating numeric UPI IDs with mobile numbers. This change is aimed at improving transparency and reducing user confusion during transactions.

Additionally, government-backed small savings schemes are due for a quarterly interest rate review, with any revisions for the April–June period typically announced at the end of March. Investors closely track these changes as they directly impact returns on popular savings instruments.

Another important deadline falls under the PM Internship Scheme, where applications close on March 31. Eligible candidates must complete their registration within the day to be considered for the programme.

Overall, the final day of the financial year often turns into a rush period, with individuals completing tax filings, investments and financial paperwork at the last minute. However, missing these deadlines can result in higher penalties, reduced returns, or loss of benefits, making March 31 a date that demands careful financial attention.