As the closing date for the financial year 2024-25 approaches, several money deadlines need investors’ attention, as taking the right action at the right time can save them from losses or operational risks.
Some of these deadlines are related to EPFO’s Universal Account Number (UAN) activation and Aadhaar seeding with bank accounts for Employee-Linked Incentive (ELI) scheme; Employees’ Deposit Linked Insurance (EDLI) scheme; tax saving investments; and special fixed deposits.
Following are key money deadlines in March 2025:
Deadline for activating UAN and seeding Aadhaar in bank accounts
The deadline for activating the UAN and seeding Aadhaar in bank accounts has been extended to March 15 for the ELI scheme by the retirement fund body EPFO. The UAN activation and linking of bank accounts with Aadhaar is necessary to avail of benefits under the EPFO’s ELI scheme.
“… the competent authority has granted an extension of the timeline for UAN activation and AADHAAR seeding in bank account till 15th March, 2025,” said an EPFO circular issued on February 21, 2025.
Also read: EPFO extends deadline to activate UAN for ELI scheme again! Check steps to activate UAN
UAN activation for insurance benefits related to EPF
If you are an EPFO member, then it is very important to activate UAN for certain insurance benefits. Under the Employees’ Deposit Linked Insurance (EDLI) scheme under EPF, the EPF member gets insurance cover of up to Rs 7 lakh.
If you have not activated UAN yet, then complete this work by 15 March 2025 to get insurance benefits.
Also read: Income Tax cracking down on individuals with low fund withdrawals, suspicious spending patterns: Report
Filing or updating ITR
If you have made a mistake in the previous ITR or have missed some income, there is still a chance to file an updated return (ITR-U). You can file ITR-U for two years after the end of the assessment year. The last date for this is 31 March 2025.
Tax Saving Investments (Section 80C, 80D, 80G etc.)
If you have opted for the old tax regime, it is important to invest before March 31, 2025 to save tax. Several important deductions can be availed under the Income Tax Act, the major ones being:
National Pension System (NPS)
Employees’
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