Deadline: Complete these 6 important tasks before the year ends; December 31st is the last date..

The year 2025 is quickly approaching, and we are now in its final week. Amidst New Year's Eve parties and travel plans, we often forget some important tasks whose deadlines expire on December 31st. Income tax filing is one of these tasks.

Postponing these tasks can prove costly. This could not only result in financial loss, but also problems with your bank account and important documents. Let's explore six important tasks that you should complete before the night of December 31st, 2025.

1. PAN-Aadhaar Linking

The Income Tax Department has already clarified that linking your PAN and Aadhaar is mandatory by December 31st, 2025. If you fail to do so, your PAN card will become inoperative. After this, you will neither be able to open a bank account nor make transactions of more than Rs 50,000.

2. Belated ITR Filing
If you forgot to file your Income Tax Return (ITR) for the financial year 2024-25, December 31st is the last chance to file it. This is called a 'belated return'. Although you will have to pay a penalty (late fee), if you miss even this date, you will not be able to file the return and may receive a legal notice.

3. Revised Return
If you filed your Income Tax Return (ITR) before September 16th and later realize that you missed some information or made a mistake, there is no need to panic. You can correct that mistake by filing a revised return. A revised return can be filed within three months of the end of the assessment year, i.e., by December 31st, or before the tax department completes the assessment. There is no penalty or late fee for filing a revised return, but if the tax amount increases, you will be required to pay the increased tax and any interest thereon.

4- Revised ITR after Notice/SMS
Taxpayers who have received an SMS or email from the Income Tax Department regarding a refund on hold, incorrect deduction, fraudulent donation, or PAN mismatch have been asked to correct their mistake and file a revised ITR by December 31st, 2025. Delays may result in legal action.

5- Last date to select or change the old tax regime (in some cases)
If you have selected the wrong tax regime (old or new) while filing your ITR and wish to change it, this change is possible only through a revised return until December 31st, 2025.

6. Bank Locker Agreement
According to new RBI regulations, all bank locker holders are required to sign a revised locker agreement with their bank. The deadline for this is December 31, 2025. If you haven't already visited your bank and signed the new agreement, your locker may be frozen.

December 31 isn't just a day to celebrate, it's also a day to strengthen your financial security. It's wise to complete these tasks today to avoid last-minute rushes and the fear of website slowdowns. Remember, even a small negligence can cause mental and financial stress at the start of the new year.

Disclaimer: This content has been sourced and edited from Zee Business. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.