3 Urgent Tax Tasks You Must Complete Before December 31

With the close of the Financial year 2025 right around the corner, there are just three tax tasks you need to take care of before 31 December 2025. That is because if you do fail to finish these chores before the deadline, you could get a lot of trouble with filing your tax returns, banking arrangements, investments and government regulations.

Here is the rundown of the 3 essential tasks to help people and businesses stay out of trouble and avoid fines:

1. Aadhaar-PAN Linking

The first task is to link your PAN (Permanent Account Number) and Aadhaar cards. It is a mandatory process for many taxpayers in India. If you do not link your PAN and Aadhaar within the deadline, that is, December 31, 2025, then your PAN card may become inactive, which can cause problems with your daily financial activities and tax processing.

Who must complete this task?

The taxpayers who got their Aadhaar card on or before October 1, 2024, must do this task before the deadline. This requirement is part of a larger effort to make identity verification easier for financial services and tax administration. Here is what happens if you do not complete this task:

Your PAN will be inactive and you may have trouble with important financial activities. The activities include opening bank accounts, getting debit or credit cards, buying mutual funds and making cash deposits over the set limits.
An inactive PAN can cause problems when filing income tax. It can delay refunds, affect TDS/TCS credits and make it challenging to submit Form 15G or 15H for nil TDS.
Several government services that require PAN or Aadhaar to access may become inaccessible to you.

How to link your Aadhaar and PAN?

Here is a process to link your above-mentioned documents:

Visit the official Income Tax filing portal or Aadhaar linking page.
Enter your PAN and Aadhaar number, along with correct personal details.
Submit and confirm the OTP verification (via the mobile number linked to Aadhaar).
Check the status in your filing account to ensure the linkage is successful.

Must Read: What is Tax Planning: Objectives, Types & Importance

2. Filing Revised or Belated ITR (Income Tax Returns)

December 31 is also the deadline for filing revised or belated income tax returns for the assessment year 2025-26 under Section 139 (5) of the Income Tax Act. This portal provides you with a chance to correct any errors in your previously submitted returns so that the information is accurate in your records.

Taxpayers who want to correct any errors, misreporting or missing income in their previous returns when filing ITR for the financial year 2024-25 or 2025-26 assessment should consider it. People who missed the original filing deadline or found mistakes after filing and Individuals and businesses wanting to ensure accuracy and get possible refunds before the end of the financial year, also must do it.

What you should know?

After December 31, you generally cannot submit revised tax returns. However, in some specific cases, the tax department may allow you to update your return if you get special permission. You can file a late return within a specific time, but doing so may result in penalties and interest.

How to file a revised or belated ITR?

Retrieve your original return details in the ITR portal.
Select the appropriate option for a revised or belated return under Section 139(5).
Provide corrected income, deductions and TDS details, and attach any supporting documents.
Validate through e-signature or registered OTP and then apply.

Also Read: Top 10 Highest Taxpayers in India 2025: Who Pays the Most?

3. Annual GST Return Filing (GSTR-9 and related returns)

The last day of the year marks the deadline for GST- GST-registered businesses to file their annual GST return. This return is a summary of total sales, ITCs claimed, tax paid and refund claimed for the fiscal year. Filing this return with accuracy on time is crucial because it can avoid penalties and also prevent the potential audit of tax authorities.

Every GST-registered business must file the annual GST return for the completed financial year and businesses may also need to file related quarterly or monthly returns, depending on their GST compliance regime and turnover.

What can go wrong if you miss it?

Delays can lead to late filing fees, penalties and interest on unpaid taxes.
Inaccurate or incomplete tax returns can lead to notices or extra checks from the tax department.
Delays can impact the reconciliation of input tax credits and the receipt of timely refunds.

Best practices for GST annual return filing

Collect complete GST data, including sales, purchases, export bills and inward/outward supplies of all 364 days in a year.
Reconcile with books and accounting software to ensure the match of information with GSTR-1, GSTR-2A/2B and other filings.
Authorize ITC claims and their eligibility as per the supplier's invoices and tax paid.
You should reconfirm the HSN/SAC code, tax rate and place of supply.
Write a clear draft and have someone else check it for any mistakes before you submit your final application.

What Should You Do Next?

Check your Aadhaar-PAN linking status now in order to prevent any difficulties in the future when your PAN becomes inactive. Look at your previous income tax returns and gather what you need to edit before December 31. Be sure to complete and send your yearly GST return correctly and before the deadline.