January
- If your finances are not in order, create a budget and set long-term and short-term financial goals.
- Estimate the monthly outgo, big spends and investments for the entire year.
- Set reminders for insurance premiums, credit card bill and utility bill payments.
February
- 1st: Budget to be announced. Check how your income and investments are affected and prepare to take suitable action.
- Claim allowances before March as some like LTA can't be taken while filing tax returns.
March
- 15th: Last date for paying the fourth instalment of advance tax for 2017-18.
- 31st: Last date for linking Aadhaar with PAN, bank accounts and financial services. Comply before the due date.
- Do not make last-minute tax-saving investments that are not in line with your goals.
- 18th: It's Akshay Tritiya and if your portfolio has less than 10% gold, buy it.
- If you've got an increment, raise investments in line with the hike. If you have a bonus, repay debt, make a big purchase or invest it.
- If you are planning to take a vacation in May or June, book your air tickets and hotel now.
May
- 3rd: For senior citizens above 60 years, this is the last date to invest in the Pradhan Mantri Vaya Vandana Yojana. It provides an assured return of 8% per annum and pension is payable for 10 years.
- Start planning your tax-saving investments as per your financial goals and risk appetite.
June
- 15th: Last date for paying the first instalment of advance tax for 2018-19.
- Complete your paperwork. Review your insurance needs, monitor your investment portfolio, review your budget, write a will.
- Go for the much-needed vacation!
July
- 31st: Last date for filing tax returns. You will pay a penalty of Rs 5,000 if you file before 31 December, or Rs 10,000 after this date. There's also a new tax structure: 5% tax for those in Rs 2.5 lakh- Rs 5 lakh slab, rebate of Rs 2,500 for Rs 2.5 lakh- Rs 3.5 lakh category, and 10% surcharge on total tax for those in Rs 50 lakh- Rs 1 crore slab.
August
- Check if you are spending more on your phone, Internet and cable plans or subscrip tions. If yes, change to a suitable one at the earliest.
- 15th: As Independence day (15th) falls on Wednesday and Parsi New Year (17th) on Friday, take a leave on 16th and go for a weekend trip.
- 15th: Last date for paying the second instalment of advance tax for 2018-19.
- This is a good time to paint or renovate your house in preparation for the festive season set to begin next month.
November
- 5th (Dhanteras) & 7th (Diwali): This is the perfect time to make big-ticket purchases due to the big discounts, but make sure you don't overshoot the budget.
- 15th: Last date for paying the third instalment of advance tax for 2018-19.
- Review your financial portfolio and check if your goals and investme ..
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