Tax planning to investing: 7 personal finance tasks to complete in April 2025

What worked in previous years may not work this year or in the years to come. This is the harsh reality of the ever-changing world of finance. Therefore, it is essential to regularly assess your financial actions and make adjustments as needed, either on your own or with the guidance of a professional financial planner. There is no better time to do this than at the start of the new financial year.

As Financial Year 2025-26 commences today (April 1), you may use this opportunity to get all your financial affairs on track. Below is a list of seven personal finance tasks that you should try to complete in April 2025.

1. Review your budget, financial goals, and plan your investments

Most of the time, we are concerned about tax savings and new investment opportunities. As the new financial year begins, you should review your budget, financial goals, and plan your investments.

Reviewing your budget will help you cut down on unnecessary expenses, correct the mistakes of the previous financial year, and save more. At the same time, it is important to review your financial goals, check whether you are on track. If not, you can devise strategies or take help from professionals to put yourself on track to reach your desired financial goals.

2. Start tax planning for the new FY

For instance, if your income is under ₹12 lakh, you may not need to do certain tax-saving investments that you were doing earlier in the old regime. This means you now have the freedom to decide where your money goes. But please note that not all tax-saving investments are bad. So choose wisely.

3. Submit Form 15G and Form 15H

Submitting Form 15G/15H helps in preventing unnecessary TDS deductions on your interest income. However, you should check your eligibility.

• Form 15G can be used by individuals aged below 60 years to avoid TDS if their taxable income is nil.

• Form 15G can be used by individuals aged above 60 years to avoid TDS if their taxable income is nil.

4. Invest in PPF, NPS

5. Start ITR filing preparations for the previous FY

April is also a good month to start preparations for Income Tax Return (ITR) filing for AY 2025-26 (FY 2024-25). The due date to file ITR for the income earned in the previous financial year (FY 2024-25) is July 31, 2025, for those whose accounts don't need to be audited.

Salaried employees can file ITR after receiving Form 16 from employers, which is generally after June 15. In between, you can collect proofs for income from other sources, like capital gains from stocks and mutual funds, rental income, and professional income.

Also, you should keep all tax-saving investment documents in one place. If you made some foreign income, you may find it difficult to report it in the ITR. For this, you should consult a tax expert.

6. Be careful when buying gold for Akshaya Tritiya

As Akshaya Tritiya 2025 is on April 30, there might be a lot of rush to buy gold. If buying gold for spiritual/religious reasons, then you can go ahead without much worry. But you should be careful if buying gold for investment on this Akshay Tritiya.

7. Book tickets for holidays early

Lastly, this one is for some fun. If you are planning to take your family on a summer vacation or travel solo, you should book tickets as early as possible. Last-minute travel plans usually do not end up well financially, as you have to pay inflated prices for tickets and hotels.