Revised ITR, PAN-Aadhaar linking, small savings schemes: You will face losses if you don't complete these tasks today..

The year 2025 is ending today. ​​Along with it, three very important deadlines are also ending today, and some major changes will take place in January. If you don't complete these three tasks today, you could face losses, as they are directly related to your finances. Today is the last day to file revised returns for 2025-26. After this, filing updated returns will incur a penalty. Similarly, today is the last day to link your PAN with Aadhaar. From January 1, 2026, your PAN may become inoperative. Today is also the last chance to invest in schemes like PPF and Sukanya Samriddhi at the current interest rates. The rates may change from January 1st.

Revised ITR
This is for filing late or revised tax returns for Assessment Year 2025-26 (FY2024-25). The December 31st deadline for filing or revising your ITR is not just a deadline, but a final warning. If you haven't filed your return for this year yet, or if there are any errors, this is your last chance to correct them. Delaying this means paying a hefty penalty. Besides, you will lose the opportunity to adjust your business or stock market losses against next year's profits.

If you miss today's deadline, you will have to pay late fees and interest on the tax. You will lose the facility to carry forward your capital market and business losses against next year's profits. If the December 31st deadline passes, you will only have the option of filing ITR-U (Updated Return). This can be filed up to 48 months after the end of the assessment year. However, you cannot claim old losses in this. A penalty tax is also levied on this.

PAN-Aadhaar Linking
The deadline for linking PAN and Aadhaar also ends today, December 31st, but this is not for everyone. This applies to PAN cardholders who used their 'Aadhaar Enrollment ID' instead of their Aadhaar number to obtain their PAN. This rule is completely different from the previous deadline of June 30, 2023, which applied to everyone else. Failure to comply will render your PAN card invalid. This will prevent you from filing tax returns. A higher TDS (Tax Deducted at Source) will be deducted from your income. Your applications for investments, KYC (Know Your Customer) verification, and even fixed deposits (FDs) may be rejected.

Small Savings Schemes
The government reviews interest rates on small savings schemes like PPF, Sukanya Samriddhi, and NSC every quarter. The RBI recently cut the repo rate by 0.25%, leading to a decline in bond yields. There is a possibility that a reduction in interest rates on small savings schemes (post office schemes) may be announced for the quarter starting January 1st. Therefore, today is the last chance to invest in these schemes at the current interest rates.

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