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As the end of the financial year 2024-25 is approaching, the government and financial institutions are engaged in ensuring that taxpayers, policyholders, and traders do not face any inconvenience in completing their necessary transactions. Keeping this in mind, the Life Insurance Corporation of India (LIC), the Income Tax Department, and other banking and insurance companies will remain open despite the holiday from March 29 to March 31.

The purpose of this decision is to help in the smooth completion of important transactions in the last time of the financial year and to provide necessary services to taxpayers before the tax filing deadline. This time the last working day of the financial year was on Friday, which was 3 days before the end of the month, so banks, income tax offices, and LIC offices will remain open so that no work is missed.

LIC offices will remain open tomorrow and day after tomorrow

Life Insurance Corporation of India (LIC) has announced that all its regional and divisional offices will remain open as per normal working hours on 29, 30 and 31 March 2025.

This decision has been taken as per the advice issued by the Insurance Regulatory and Development Authority of India (IRDAI) on 12 March 2025. LIC will provide full facility to the policyholders to make **premium payment, policy renewal, claim settlement** and other financial transactions. This step will prove to be a relief for those who want to complete the work related to their insurance policy in the last days of the financial year.

Why will income tax offices remain open?

The Central Board of Direct Taxes (CBDT) has issued instructions under section 119 of the Income Tax Act, 1961 that all income tax offices will remain operational on 29, 30 and 31 March 2025. This step has been taken to enable taxpayers to pay their taxes on time and avoid any kind of delay. Notably, March 31, 2025, is the last date for filing income tax returns for the financial year 2024-25 and settlement of outstanding taxes. Taxpayers must ensure that they pay their taxes as early as possible to avoid the last-minute rush.

There will be no bank holiday.

The Reserve Bank of India (RBI) has directed all agency banks to remain open for government transactions on March 31, 2025, even though the day is a public holiday on account of Ramzan-Eid (Eid-ul-Fitr). This decision will help traders, companies and individual taxpayers to complete their important transactions on the last day of the financial year. Many people try to settle their taxes, GST payments, investments and other financial tasks at the last minute, due to which this decision will prove to be a relief for them.

Do these tasks ahead of time

Although LIC, Income Tax Department and banks will remain operational till March 31, 2025, taxpayers and policyholders are advised to complete their financial transactions as early as possible to avoid last minute rush and possible technical problems.

Those doing digital transactions also have to note that there may be some last minute disruptions due to network traffic and bank server capacity.

In such a situation, make it a habit to complete online banking, income tax return filing, insurance premium payment and other important financial tasks in advance.

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