Back to insights
Practice note · 2024-03-15 · By CA Arun Mehta
Critical Tax Planning Steps Before March 31st
As the financial year comes to a close, it is crucial to review your finances to optimize tax liability. Here is a checklist for March 31st:
- Investment for Section 80C: Ensure you have maximised the Rs. 1.5 Lakh limit via PPF, ELSS, LIC, etc.
- Health Insurance (Section 80D): Review your medical insurance premiums for self and parents.
- Advance Tax: Pay the final instalment of Advance Tax to avoid interest under Section 234B/C.
- Book Long Term Capital Gains: Review your equity gains against the exemption available to you for the year.
- Aadhaar-PAN Link: Ensure your PAN is linked with Aadhaar to avoid it becoming inoperative.
Consult with us today to ensure you are fully compliant and optimised.
More practice notes
- Anti-Profiteering under Section 171: What the GST Tribunal Has DecidedNew complaints closed on 1 April 2025, but the liability did not. Seven rulings of the GSTAT Principal Bench, and why a developer fights to have its own buyers declared untraceable.
- Inside the Tribunal: What the GSTAT (Procedure) Rules, 2025 RequireDouble spacing, A4 and a certified copy of both orders are conditions, not formalities. The Tribunal’s own rules add periods the Act never mentions, and a defect notice is a limitation event.
- When a GST Notice Lands: What the Act Gives You, and What the Notice SaysA Telangana Full Bench has settled when your clock starts and what makes a notice invalid. Then two demand regimes, and the window in which paying ends the proceeding.
Holding one of these yourself?
Every assessment turns on its own record. A note like this one tells you what the tribunals have accepted; it cannot tell you whether your papers carry it. Bring the notice in before the reply is drafted, not after.
Notice Assessment Session — 30 minutes, ₹5,000 + gst. A defence outline: the points to take, the documents to assemble, and the date each step falls due.