One week left... The Income Tax Department has already sent a notice, so complete your work by December 31st.:

News Topical, Digital Desk : The year 2025 is about to end. Before that, you need to complete some important financial and banking tasks. If you don't complete them on time, you may incur penalties. These include filing a late ITR, making corrections to a previously filed ITR, creating a bank locker agreement, and linking your PAN with Aadhaar. Let's take a look at these:

Last date for filing late return

The deadline for filing your Income Tax Return (ITR) was September 16, 2025. If you missed filing your ITR by this date, you can file and submit it by December 31. However, taxpayers who fail to file their ITR by the original deadline may face an additional penalty under Section 234F of the Income Tax Act. Additionally, they will also have to pay interest under Section 234A.

Last chance to file revised return

Additionally, if you filed your ITR before September 16th and later discovered you had omitted something or made a mistake, you can still correct it. With the option to file a revised return, taxpayers can correct errors made in the original return. There are no fees or penalties for filing a revised return.

However, if the revised return increases your tax liability, you will need to pay additional tax and applicable interest charges. Notices regarding filing revised returns are also being sent to your registered email address by the Income Tax Department.

Last chance to link PAN and Aadhaar

The government has also set the deadline for linking PAN and Aadhaar cards as December 31, 2025. Failure to do so will render the PAN card inactive and prevent the individual from filing income tax returns or completing other tax-related tasks.

According to the Central Board of Direct Taxes (CBDT), individuals who received their Aadhaar card on or before October 1, 2025, must link it to their PAN card by December 31, 2025. If a person fails to link their Aadhaar and PAN card, all Income Tax Department services related to that PAN will be suspended. This means that the individual will be unable to file returns, claim refunds, and work related to the stock market, mutual funds, and KYC will be disrupted.

An updated rental agreement will also need to be completed.

If you have a bank locker, you have an important task to complete by December 31st: complete an updated rental agreement. The deadline for this has been extended several times in the past, but this is the last chance. You must complete and submit the new rental agreement to the bank by this date to access your locker.

Last date for filing GST annual return

The deadline for filing your GST Annual Return (GSTR-9/9C) for the financial year 2024-25 is December 31, 2025. This means you have a week to complete several important tasks. Otherwise, you could face serious consequences later.