Deadline 31 December
December, the last month of the year 2025, has now reached its last phase. Today is 19th December, that means only 12 days are left for the year to end. In such a situation, there are some very important financial tasks, whose deadline will end on 31st December. If you do not complete these tasks on time, you may have to face fines, additional interest and many other problems.
First important task: filing belated income tax return
If you have not yet filed the income tax return for the financial year 2024-25, then your last chance is till 31 December 2025. After this date you will not be able to file returns. However, if you file your return late, you will have to pay late fees. If your annual income is less than Rs 5 lakh, then a late fee of Rs 1,000 will be charged, whereas for income of Rs 5 lakh or more, you will have to pay a late fee of Rs 5,000.
What can be the disadvantages of not filing ITR on time?
If you do not file the belated return even by 31st December, it will have a direct impact on your pocket and financial records. First of all, if a refund is generated in your return, it may be stuck or may not be received at all. Apart from this, under the Tax Act, you may have to pay penalty as well as interest, which further increases the tax burden.
Future planning may also be affected
Continuously not filing ITR on time weakens your tax profile. This can affect future loan taking, credit score and even visa applications. Not only this, the Income Tax Department keeps a closer eye on those who do not file returns and the chances of receiving a notice also increases.
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Second important task: Linking Aadhaar and PAN
If you have made Aadhaar card on or before October 1, 2024 and have not yet linked it to PAN card, then it is very important to do this by December 31, 2025. If you do not get this linking done, your PAN card may become inactive. In such a situation, many work related to banking, investment and tax may come to a halt and there will be difficulty in filing ITR.
Linking PAN Aadhaar is very easy
To link PAN and Aadhaar, you can do this in some easy steps by visiting the e-filing website of Income Tax. Linking is done with the help of PAN number, Aadhaar number and OTP received on mobile. If any penalty is applicable, it can be paid online. If desired, this process can also be completed through SMS.