March End: Income Tax Offices Open.!
The Income Tax Department has decided to cancel the long weekend scheduled for the end of march, which coincided with Good friday falling on the 29th of the month. With march 30th being a saturday and march 31st a Sunday, the department aims to ensure uninterrupted operations during the crucial final week of the financial year 2023-24, which concludes on march 31st.
The department has emphadata-sized the significance of these three days, particularly for tasks such as TDS deduction and filing requirements like 194M or 194 IA, which must be completed by march 30th. Additionally, many tax-saving schemes, including FDs, ELSS, ULIPs, PPF, SCSS, and NSC, have a deadline of march 31st.
This decision not only benefits the Income Tax Department but also taxpayers who may need to complete their tax-related obligations before the end of the financial year. It also provides relief to those planning to engage in tax-related activities amidst earlier speculation about market closures and banking operations during the long weekend. While the stock market is expected to remain closed, banks are scheduled to open on saturday, march 30th.
The department has emphadata-sized the significance of these three days, particularly for tasks such as TDS deduction and filing requirements like 194M or 194 IA, which must be completed by march 30th. Additionally, many tax-saving schemes, including FDs, ELSS, ULIPs, PPF, SCSS, and NSC, have a deadline of march 31st.
This decision not only benefits the Income Tax Department but also taxpayers who may need to complete their tax-related obligations before the end of the financial year. It also provides relief to those planning to engage in tax-related activities amidst earlier speculation about market closures and banking operations during the long weekend. While the stock market is expected to remain closed, banks are scheduled to open on saturday, march 30th.