Major Money Changes Lined Up In March 2025, Don't Miss These Deadlines
These financial revisions include changes in cooking gas prices, updates in fixed deposit rates, etc. All these come into effect from March 1, 2025.
March marks the last month of the current financial year. The month also brings with it some major financial changes that can impact the daily aspects of your life significantly. These include changes in cooking gas prices, updates in fixed deposit rates,etc. All these revisions come into effect from March 1, 2025.
Nominations For MF, Demat Accounts
Investors are now permitted to nominate up to 10 individuals for mutual fund and demat accounts. It is mandatory for investors to name a nominee for single-holder accounts to prevent unclaimed assets. As such, investors need to provide detailed information of the nominee such as PAN card number, Aadhaar card details or a driving license number.
LPG Prices
The oil marketing companies (OMC) implemented a hike of Rs 6 per cylinder on Saturday. This increased the effective price of 19-kg LPG cylinder to Rs 1,803 per cylinder in New Delhi. This hike was announced across the country, while the price of domestic cooking gas cylinder remains unchanged.
FD Rates
Banks are expected to revise their fixed deposit (FD) interest rates from March 1, 2025. Recently, many banks have made changes to their FD rates and similar changes could be seen in March, which could have a major impact on the savings of consumers.
Activate UAN And Link Aadhaar
The last date for activating the UAN and adding Aadhaar to bank accounts has been extended to March 15 for the ELI scheme, The EPFO in a circular issued in February said that this deadline has been extended to mid-March. Cutomers needs to link their Aadhaar card and activate the UAN with their bank accounts to take advantage of the retirement body's ELI scheme.
Submitting ITR-U
Individuals can file their updated income tax return (ITR-U) if they have made any mistake in the previous ITR or missed adding some income to their return. The last date for filing the updated ITR is March 31, 2025. Taxpayers can file the ITR-U for two years post the end of the assessment year.
As such, investors and taxpayers must keep a tab of these financial changes and deadlines to make better fiscal decisions and plan their year ahead.
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