Key Things To do Before 31st March 2024 1 Invest in Tax Saving options Those who have opted for old tax regime must invest in tax saving options like ELSS MFs, Tax saver FDs, Life Insuarnace, PPF etc to claim deductions u/s 80C of the income tax act 2 Updated ITR Filing Deadline for FY 2020-21 (ITR-U) Taxpayers have until March 31, 2024, to file an updated income tax return for FY21 (AY 2021-22). This deadline offers a window for individuals who missed filing their returns for FY 2020-21 or need to rectify any errors in their previous filing 3 FASTag KYC Deadline: In response to issues faced by FASTag users, the NHAI extended the deadline for updating FASTag KYC details to March 31, 2024. FASTag users should ensure their KYC details are updated within this timeframe. 4 Tax Loss Harvesting Investors can use the strategy of Tax Loss Harvesting to pay lower or no capital gains tax on sale of shares / mutual funds
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