A financial year-end checklist for Indian households

The financial year ends on 31 March. A short review in the weeks before it avoids a last-week rush. Tax rules change, so check the current rules or speak to a qualified adviser for specifics.

1. Gather your records

Salary slips, interest statements, investment proofs, insurance receipts, loan statements. Collecting them early is half the battle.

2. Review your spending for the year

Look at the annual totals by category. They show where the year really went and inform next year's budget.

3. Check loan statements

Confirm interest and principal figures from lenders match your own records.

4. Review insurance and investment contributions

Make sure you have paid what you intended and have the proof.

5. Plan next year's budget

Use this year's actuals to set realistic targets for the coming one.