By Admin 
The year 2025 is about to end. Before this, you have to complete some important work related to finance and bank. If you do not complete them in time, you may have to pay penalty in future. These include tasks like filing late ITR, making corrections in previously filed ITR, making bank locker agreement and linking PAN with Aadhaar. Let’s take a look at these:-
Last date to file late return
Actually, the deadline for filing Income Tax Return (ITR) was September 16, 2025. If you have missed filing ITR by this date, you can file and submit it by 31st December. However, taxpayers who do not file ITR on the original deadline may have to pay additional penalty under Section 234F of the Income Tax Act. On top of this, interest will also have to be paid under Section 234A.
Last chance to file revised return
Also, let’s say if you filed your ITR before September 16 and later find out that you have left something out or made a mistake, you can still correct it. With the option to file revised return, taxpayers can correct the mistakes made in the original return. There is no fee or penalty for filing revised returns.
However, if the tax liability increases due to revised return, additional tax and applicable interest charges will have to be paid. Notices are also being sent by the Income Tax Department on the registered email address regarding filing of revised return.
Last chance to link PAN and Aadhaar
The government has also fixed December 31, 2025 as the last date for linking PAN and Aadhar card. If this is not done, the person’s PAN card will become inactive and he will not be able to file income tax return or other tax related work.
According to the Central Board of Direct Taxes (CBDT), people who have an Aadhaar card received on or before October 1, 2025, will have to link it with their PAN card before December 31, 2025. If a person does not link his Aadhaar and PAN card, then all the services of the Income Tax Department on that PAN will be suspended. This means that the person will not be able to file returns, will not be able to claim refund, work related to stock market, mutual fund and KYC will get stuck.
Updated rental agreement will also have to be completed
If you have a bank locker, then you also have to complete one important task by 31st December and that is to complete the updated rental agreement. The deadlines for this have been extended several times before, but now this is the last chance. You will have to complete the new rental agreement and give it to the bank by this date, only then you will be able to access your locker.
Last date to file GST annual return
The last date for filing GST Annual Return (GSTR-9/9C) for the financial year 2024-25 is December 31, 2025. That means overall you still have a week’s time and in the meantime you have to complete many important tasks. If not, you may have to give and take in the future.
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