ITR Filing Deadline: Today is the last day to file revised or belated returns for 2025-26. After this you will not be able to make any changes in the income tax return from your side. If you too have made a mistake in filing the income tax return for the amount earned in the financial year 2024-25, then today is the last chance to correct it.

In view of this, in the last few weeks, the Income Tax Department has been sending emails or messages to taxpayers asking them to review their filed returns or correct any mistakes. It is important to do this because the refund may be stuck until the mistakes are corrected.

After today’s deadline is over, the taxpayer will no longer have the option of voluntary revision i.e. making corrections as per his wish. This means that after today you will not be able to claim any deduction or exemption as per your wish. If the department finds any discrepancy in your filed return, now a direct notice will come.

What is revised return?

Many times we make mistakes while filing ITR. Sometimes wrong deductions are claimed and sometimes some income is left out. In such a situation, revised return is a good option to file return after missing the deadline. Revised income tax return allows taxpayers to correct mistakes or deficiencies made in the original return.

CA (Dr) Suresh Surana explains, “If any mistake or deficiency is found after submission, a taxpayer can revise his income tax return. This is allowed under section 139(5) of the Income-Tax Act, 1961.”

He further says that a revised return replaces the original return and becomes a valid return for that assessment year. There is no penalty for filing revised returns, provided it is submitted within the prescribed time limit. However, Surana also says that if the revision results in higher tax liability, the taxpayer will have to pay additional tax along with applicable interest.

The revised return should be filed on or before 31st December of the relevant assessment year, or before the completion of assessment, whichever is earlier. “For assessment year 2025-26, the last date to file revised returns is December 31, 2025,” says Surna. If this deadline is also passed, taxpayers can choose the route of ‘Condonation of Delay’ to claim the refund.

Will the deadline for revised returns be extended?

As the deadline of December 31 approaches, many taxpayers and professionals are appealing to the Income Tax Department to give them some more time to file the revised return. A user has written on

How to file revised return?

• First of all, go to the official website of Income Tax Department https://www.incometax.gov.in/iec/foportal/.
• Now login by entering PAN, password and captcha.
• After this, go to the e-File section and click on the option ‘Income Tax Return’.
• After selecting ‘File Income Tax Return’ select the relevant assessment year.
• Select the option of Revised return under section 139(5) in the Return Filing Section.
• Correct your mistake and fill the Acknowledgment Number and Date of filing of your original return.
• Submit revised return and e-verify.

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Aadhaar PAN Link: If you also have a PAN card, then this news is for you. If you have not yet linked your PAN card with Aadhar card, then this is your last chance. The Income Tax Department has asked all PAN card holders to immediately link their PAN card with Aadhar card. You have only time till December 31, 2025 to do this.

If your PAN card is not linked to Aadhar card till this day, then your PAN card will become inactive from January 1, 2026. In such a situation, those taxpayers who have not yet completed this process will also have to pay a late fee of Rs 1000 while linking PAN and Aadhar card. However, after October 1, 2024, those making PAN through Aadhar card will not have to pay a late fee of Rs 1000. These people can link their PAN with Aadhaar for free till December 31, 2025. If you do not link Aadhar Card and PAN Card on time, your TDS/TCS will be deducted more. You will also have to face many other financial problems.

Link PAN to Aadhaar like this

• First of all go to the official Income Tax e-filing portal or click on this link- www.incometax.gov.in/iec/foportal/
• Now go to ‘Quick Links’ section and click on ‘Link Aadhaar Option’
• After this enter your PAN card and Aadhar card number and click on Validate.
• If your Aadhaar card is already linked to PAN, you will see a message on your screen saying PAN is already linked to Aadhaar.
• If your PAN is not linked to Aadhaar and you have to deposit a challan of Rs 1000 on NSDL portal. Payment information will be validated through electronic filing. After confirming your PAN and Aadhaar, you will get a pop-up notification reading ‘Your payment details have been verified’
• After entering the necessary details, you will have to click on the Link Aadhaar option.
• Now you have to enter the 6-digit OTP received on your registered mobile number.
• Then you have to submit your request for Aadhaar PAN link.
• It may take 4 to 5 working days to link PAN card with Aadhaar.

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Just check your email, haven’t you received this notice? Complete this work immediately by 31st December

The year 2025 has proved to be a big turning point for India’s tax system. The government has made important reforms in Income Tax, GST and Customs Duty. The new Income Tax Act, 2025, which will come into effect from April 1, will now replace the old law of 1961, which aims to make compliance easier. The middle class got a big relief in Budget 2025, where zero tax was fixed on income up to Rs 12 lakh, which increased disposable income and consumption.

GST rates were reduced on 375 items from September 22 and the slabs were simplified to 5% and 18%. This reduced litigation, although GST collection stood at Rs 1.70 lakh crore in November. Now the focus is on Customs Duty reforms, faceless assessment and digitalisation, which is expected to boost trade and investment.

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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Income Tax Department 24×7 Control Room: Keeping in mind the upcoming Mumbai Municipal Corporation elections of 2025-26, the Income Tax Department has started preparations to keep a close watch on the misuse of money power in the electoral process. Under this, a state-of-the-art control room is being set up in Mumbai, which will be active 24 hours a day and seven days a week.

The objective of this control room is to ensure fair, free and transparent elections after the implementation of the election code of conduct. In particular, activities like illegal documents, unaccounted cash transactions, black money and distribution of money or valuables during election campaign will be strictly monitored.

Income Tax Department Control Room in Mumbai

According to the Income Tax Department, this control room will work as an election surveillance system throughout the election period. Along with this, common citizens will also be made aware that if they get any information about distribution of money, illegal cash, black money or other valuable items during elections, they should immediately share it with the department.

For this, the Income Tax Department has kept its official channels like WhatsApp, Tax Messaging System, phone calls and e-mail active, so that information can be obtained easily and quickly. The department has assured that immediate action will be taken on the basis of solid and reliable information, so that the dignity and transparency of the electoral process is maintained.

Keep an eye on unaccounted cash

The Income Tax Department has also clarified that their main focus during the elections will be on identification and seizure of unaccounted cash. Concern has been raised for a long time regarding such activities in local body elections. Officials believe that the role of the general public is very important in this direction, because many times such activities remain hidden from the common sight, which can be easily identified by the local people. Only through public cooperation can these illegal activities be effectively curbed and the democratic process can be made clean and fair.

December 2025 is not only the last month of the year, but also the last chance to complete two very important tax related tasks. If you have not yet filed Belated ITR for FY 2024-25, then 31 December 2025 is the last date.

After this, the option to file ITR will not be available and the risk of penalty, interest and notice may increase. Also, Aadhaar-PAN linking is also mandatory, otherwise PAN may become inactive and banking and investment work may stop. Know both the deadlines, penalties and the easy way in this video. Do it now, save stress later.

Income Tax Department has started the strictest investigation on donations given to political parties. Through Advanced Data Analytics and Pattern-Based Analysis, CBDT has identified those taxpayers who made wrong tax deduction and fake refund claims in the name of unrecognized political parties or fake entities.

The investigation revealed that a network of middlemen and agents was active across the country, who filed returns in exchange for commission and showed inflated deductions.

Many taxpayers were not even aware of this. Now Income Tax Department is sending SMS and Email Alerts and has started Nudge Campaign, so that taxpayers can avoid Penalty, Interest or Prosecution by filing Revised Return on time. Notice issued from 12 December 2025.

ITR Refund: After filing income tax return, people eagerly wait to get the refund. Although refunds have been issued to most of those who filed ITR for the financial year 2024-25, there are many taxpayers whose return money has not yet been received in their accounts. What is the reason for such delay in receiving payment?

On Monday, the Income Tax Department said that some refund claims are being reviewed more carefully as they fall in the ‘high-value’ or ‘red-flagged’ category. These cases usually involve requests for certain deductions that require extra checks before approval. According to the Central Board of Direct Taxes (CBDT), all correct refunds are expected to be issued by December 2025.

How to check claim status?

If you have already filed your Income Tax Return (ITR) and are eligible for a refund, you can now check its status online using your Permanent Account Number (PAN). The Income Tax Department allows taxpayers to do this through the e-filing portal and NSDL-TIN website.

First of all you have to go to the official website of Income Tax and login with user ID and password. Here you will get the option of Income Tax Return in the e-file category. Here by clicking on View Filed Return you will see your claim status. Before the refund is credited, it is important to ensure that your bank account is pre-validated, your return is filed correctly and your ITR is e-verified.

You will get complete information with one click

You can track your refund on NSDL-TIN website. After entering your PAN and selecting the assessment year, the page will display the details of the refund, including whether the refund has been issued or not, the amount and the mode used – check or NEFT. In the meantime, as the department continues its investigation, taxpayers can track their refund status online to ensure they do not miss any updates.

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Cash Transaction Rules: In the era of promotion of digital payments and online banking, the Income Tax Department has become very strict regarding large cash transactions. Whether you are withdrawing cash for personal use or for business purposes, it is important to understand how much cash you can legally transact in a day. Many people may not know that if you make cash transactions beyond a certain limit, you will not only be fined but you may also get an income tax notice. So let us know how much cash transaction can be done in a day under the Income Tax Act.

Section 269 ST

According to Section 269 ST of the Income Tax Act, no person is allowed to receive Rs 2 lakh or more in cash in a day from one or more persons. This restriction does not depend at all on whether the transaction is personal or business. For example, if you are selling a car and receive Rs 2.5 lakh in cash, then legally it is against the income tax law.

Penalty for violating rules

If you accept more than Rs 2 lakh in cash, the Income Tax Department can impose a penalty equal to the total cash amount received. For example, if you accept ₹ 5 lakh in cash for your property or business transactions, then the penalty on that can also be the entire ₹ 5 lakh. This penalty is imposed under Section 271DA and only the person receiving the cash is held accountable.

Why is this rule

The ₹2 lakh cash transaction limit was imposed to curb black money and tax evasion in the economy. The government’s aim is that all major transactions, whether through bank transfer, check or digital means, should be transparent and traceable. Even if it is a personal transaction, like giving money to a friend or relative, if it is more than Rs 2 lakh then it can be investigated.

Income Tax Department Monitoring System

The Income Tax Department uses AI-powered data analysis to monitor unusual or high-value cash deposits and withdrawals. Along with this, an alert can be issued on cash deposit or withdrawal of more than Rs 10 lakh in a savings account or Rs 50 lakh in a current account in a financial year. Not only this, but many cash transactions of less than Rs 2 lakh can also be identified as suspicious to avoid detection.

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