31 December 2024 Financial Deadline: As the year 2024 is coming to an end, this is the deadline to complete many important financial and tax related tasks. There are some major deadlines of December 2024 which are not only important to remember. Rather, it is important to take advantage of money, taxes, savings, and savings related benefits. Know here which tasks have to be completed before 31st December.
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 31 December 2024 by paying a lower amount. This scheme has been designed to relieve the taxpayers of old disputes and make them stress free through reconciliation.
2. Investing in Special FD: Take advantage of higher interest
The deadline to invest in the special fixed deposit scheme of Punjab and Sind Bank and IDBI Bank is 31 December 2024. Under these schemes, investors will get the benefit of interest up to 8.10%. For investors looking for security and high returns, this opportunity is not worth missing.
3. Late ITR filing or revision: Last date 31 December 2024
Taxpayers who could not 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 previously filed ITR, then the last date for revising it is also 31 December 2024. These deadlines of December 2024 are 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 will also save you from trouble.
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