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’ Provident Fund (EPF)

Public Provident Fund (PPF)

Tax Saving Fixed Deposits (with 5-year lock-in period)

Equity Linked Savings Scheme (ELSS)

If you have not invested in these schemes, do so as soon as possible to save tax.

Last chance to invest in special FD

After the Reserve Bank of India (RBI) recently cut the repo rate by 25 basis points (bps) (from 6.50% to 6.25%), many banks have reduced the interest rates on fixed deposits (FD).

For the last few years, many banks were running special FD schemes for a limited period, which offered higher interest than regular FDs. But now since RBI has reduced the rates, these special FD schemes will not be extended further.

If you want to lock in a better interest rate, invest soon. Currently, these special FDs are available in SBI, Indian Bank and IDBI Bank, and their last date is March 31, 2025.

Deadline for Special Fixed Deposit (FD) Scheme

SBI Amrit Varshiti

  • 444 days special FD scheme
  • 7.25% interest to general customers
  • 7.75% interest to senior citizens
  • Last date: 31 March 2025

SBI Amrit Kalash

  • 400 days special FD
  • 7.10% interest to general customers
  • 7.60% interest to senior citizens
  • Last date: 31 March 2025

IDBI Bank – Utsav Callable FD

  • Interest rate depends on the maturity period
  • Last date: 31 March 2025

Indian Bank – IND Supreme 300 Days and IND Super 400 Days

  • Up to 8.05% interest to super senior citizens
  • Last date: 31 March 2025

Conclusion:

As these deadlines ending in March, investors and taxpayers must take decisions in time if these money matters are relevant to them. This will help them save taxes, get better returns on investments and most importantly, there would be no hindrance in financial planning.