Explanation:

- They will put away their woolens after the festival of Holi: This indicates a future action planned by the subject.

- Option 1: Their woollens are being put away after the festival of Holi. This suggests an ongoing action happening currently, which doesn't align with the original statement.

- Option 2: Their woollens have been put away after the festival of Holi. This implies the action has already been completed, which isn't correct.

- Option 3: Their woollens will be put away after the festival of Holi. This correctly reflects the future intention of the action.

- Option 4: Their woollens are put away after the festival of Holi. This implies a habitual action or general truth, not a one-time future event.