Business News Desk – As the year 2024 is about to end, the time has come to complete many important financial and tax related tasks. Some of the key deadlines of December 2024 are not only worth remembering but also important to take advantage of the benefits associated with money, tax, savings and savings. Read here to know what to do before December 31.
1. Vivad Se Vishwas Scheme: 31 December 2024
This is the last chance for taxpayers troubled by income tax disputes to avail the benefits of the Central Government’s ‘Vivad Se Vishwas’ scheme. Under this scheme, taxpayers can settle their disputed tax cases by paying a small amount till December 31, 2024. This scheme is designed to relieve taxpayers of old disputes and relieve stress through reconciliation.
2. Invest in special FD: Avail higher interest
Punjab and Sindh Bank and IDBI Bank have set the deadline for investing in the Special Fixed Deposit Scheme as December 31, 2024. Under these schemes, investors will get the benefit of interest up to 8.10%. This opportunity is not worth missing out for investors seeking safe and high returns.
3. Late filing or amendment of ITR: Last date 31 December 2024
Taxpayers who have not been able to file income tax return (ITR) on time for financial year 2023-24 (assessment year 2024-25) have a chance to file it till December 31, 2024. However, late filing of ITR may attract a penalty of up to ₹5,000. Apart from this, if someone has made a mistake in the ITR filed earlier, the last date to modify it is also 31 December 2024. This deadline of December 2024 is also important for taxpayers, investors and to settle old tax related matters. Completing these tasks on time will not only save you from financial loss but also from trouble.