It all depends on the registrar but usually if you transfer a domain to another registrar you pay a fee that does indeed renew the domain! If it expires on 23-03-09 you may not have time to get the transfer done!

Check with the new registrar to see if you have time and what terms they offer for the transfer.

In many cases when they are this near expiration I have renewed the domain as it exists, then do a transfer during the renewal period. (It has always resulted in another year of service.)

you have to setup auto-renewal with your new registrar.