The deadlines for PAN-Aadhaar linking, ITR filing, and pension schemes have arrived; complete these tasks by the last day of the year..
It's the fourth week of December, and the year 2025 is drawing to a close. Several financial tasks need to be completed in the remaining days of 2025. First, the deadline for the old pension scheme is approaching. Second, the last date for revising tax returns is near, and third, linking PAN and Aadhaar is mandatory for many. Let's learn about these three tasks in detail.
What are the deadlines for these tasks?
NPS Scheme A Exit Window (December 25)
Final ITR Submission or Revision (December 31)
Aadhaar-PAN Linking Mandatory for some (December 31)
What's the update regarding NPS?
For most subscribers, the National Pension System is a "set it and forget it" system. That's why the new notice from the Pension Fund Regulatory and Development Authority is noteworthy. If you are among the more than 1.7 crore Indians who invest through the National Pension System (NPS), this could affect you.
The PFRDA is merging Scheme A (under Tier I, Active Choice) with other larger schemes. This is because Scheme A, which invested in "alternative" instruments like REITs, InvITs, AIFs, and structured debt, has a small fund size and limited diversification.
What should you do?
If you don't take any action by December 25, your allocation will be automatically transferred. However, until then, you can switch your portfolio yourself without any extra cost. Log in to your CRA/NPS account (or use the Protean/NSDL portal)
Click on “Transaction - Change Scheme Preference”
If you see Scheme A, switch to Scheme C (Corporate Debt), E (Equity), or G (Government Securities) based on your risk appetite.
Income Tax Alert
Delayed or Revised ITRs for Assessment Year 2025–26 (FY 2024–25) can be filed until December 31st.
This is the last legally valid date to rectify your tax filing.
If you missed the original due date, you can file a late return by December 31st.
You can file a revised return if you need to correct previous errors.
However, you will now have to pay a late fee and interest on the outstanding tax.
Remember, you can only file your ITR under the new regime as it will be a late-filed ITR.
Who needs to link PAN and Aadhaar?
PAN holders who obtained their PAN using their Aadhaar enrollment ID before October 1, 2024, need to link both.
What the CBDT says - If your PAN was issued based on your Aadhaar enrollment ID - and not your Aadhaar number - you will have to furnish your Aadhaar by the last day of 2025.
This is different from the June 30, 2023, linking deadline, which applied to everyone else.
Consequences of not linking:
You will not be able to file returns.
Higher TDS will be deducted.
Refunds will be delayed.
You may face rejection for investments, KYC, and even fixed deposits.
Disclaimer: This content has been sourced and edited from Dainik Jagran. 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.
