Appendix H: Year-end Tax Checklists

Individuals

Decide the regime for the year and inform the employer.
Complete investments under sections 123, 124 and 126 before 31 March (old regime).
Review capital gains: harvest gains within Rs. 1.25 lakh, book losses to set off, plan reinvestments under sections 82, 85 and 86.
Pay the final advance tax instalment by 15 March.
Collect proofs: rent receipts, insurance premium, donation certificates (Form 114), home loan certificate.
Check AIS and Form 168 for all income before filing; submit feedback on errors.
Report foreign assets in Schedule FA if resident.

Deduct and deposit TDS on all expenses and year-end provisions.
Pay MSME dues within MSMED time limits; pay statutory dues and bonus before the return due date.
Avoid cash payments above Rs. 10,000 per person per day.
Complete fixed asset additions before 1 October for full depreciation where possible.
Reconcile GST turnover with books.
Prepare for tax audit and Form 26 information.
Review partner remuneration within limits and the deed authorisation (firms).

Update tax and MAT estimates; true up advance tax.
Transfer pricing: benchmark transactions and prepare documentation; plan Form 48.
Review section 119 continuity if shares have changed hands.
Plan dividends for section 148 before 30 September.
Compute deferred tax and uncertain tax positions for the financial statements.
Confirm eligibility and conditions for any deductions (sections 140, 146, 147).