Thank you for visiting Unpaper! We understand the importance of clear, timely communication with your clients—especially as the financial year comes to a close. To help you streamline your year-end processes and ensure your clients are well-informed, we’re sharing the below ready-to-send email template. You can use this template as-is to remind your clients of the essential financial tasks they need to complete before the deadline.

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Subject: Important Financial Year-End Actions to Complete by March 31, 2025

Dear Client,

As we approach March 31, 2025, it’s time to finalize key financial tasks to ensure a smooth year-end close and maximize tax savings. Please note that only transactions completed before this date will be included in this financial year—any transactions from April 1, 2025, onward will be accounted for in the next financial year.

To help you stay on track, here’s a checklist of essential actions:

1. Claim House Property Benefits

• Pay municipal taxes before March 31 to claim deductions on rental properties.

• Ensure home loan EMIs (principal & interest) are paid before the deadline for tax benefits.

2. Maximize Tax-Saving Investments

To claim deductions, invest before March 31:

• Section 80C: Invest in PPF, Sukanya Samriddhi Yojana, NSC, ELSS, or top up EPF to maximize the ₹1.5 lakh limit.

• Section 80D: Pay health insurance premiums to claim deductions of up to ₹25,000 (₹50,000 for senior citizens).

• NPS Contributions: Contribute to the National Pension System (NPS) for an extra ₹50,000 deduction under Section 80CCD(1B).

3. Collect Rent Receipts for Tax Benefits

If you pay rent, ensure you collect and maintain all rent receipts before March 31. These are required to claim HRA exemptions or deductions under Section 80GG if you are self-employed or do not receive HRA.

4. Ensure Income is Credited

• Confirm that any income you want reflected in this financial year is credited to your bank account by March 31.

• Follow up on pending payments and ensure correct TDS deductions are filed to avoid discrepancies.

5. Settle Pending Expenses & Dues

• Clear all business expenses, especially MSMEs must ensure that all payments, and outstanding dues are paid before March 31. 

• This ensures they are accounted for this financial year and not carried forward as liabilities.

6. Pay TDS Dues on Time

Ensure all TDS payments are made before March 31 to avoid interest, penalties, or disallowance of expenses. Review records to ensure timely compliance.

7. Verify GST Compliance

• Reconcile Input Tax Credit (ITC) with GSTR-3B and GSTR-2B.

• File GST Annual Return (GSTR-9) if turnover exceeds the threshold.

• Clear Reverse Charge Mechanism (RCM) liabilities and complete year-end reconciliations.

• Ensure export compliance (LUT/Bond validity, e-Way bills, pending refund claims).

8. Prepare Accounts for Audit

Ensure your financial records, invoices, and compliance filings are up to date before March 31. Cross-check international transactions, expense receipts, and other key documents to ensure accurate financial reporting.

9. File or Revise Income Tax Returns

If you missed filing or need to revise your FY 2023-24 income tax return, March 31 is the final deadline. Avoid penalties and ensure all necessary documents are in place for a hassle-free filing.

Taking action before March 31 ensures a smooth financial close and maximized tax savings. If you need any assistance, feel free to reach out.

Best regards,

[Your Name]
[Your Firm Name]

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Feel free to use and distribute the above template to your clients. At Unpaper, we’re committed to providing you with quality content and resources to support your practice. For more insightful financial templates and updates, visit Unpaper.