Tue Dec 30 11:50:00 UTC 2025: ## News Article: Taxpayers Face Crucial Year-End Deadlines: Aadhaar-PAN Linking, Revised Returns, and GST Filings Loom

New Delhi: Indian taxpayers and businesses are facing a triple-threat of financial deadlines as December 31st approaches, with potential disruptions awaiting those who fail to comply. Experts are urging timely action on Aadhaar-PAN linking, revised income tax return filings, and annual GST return submissions to avoid penalties and maintain financial stability.

Aadhaar-PAN Linking Deadline Looms:

Individuals who obtained their Aadhaar card on or before October 1, 2024, must link it with their Permanent Account Number (PAN) by December 31st. Failure to do so will render the PAN inactive, crippling crucial financial activities. An inactive PAN can disrupt the opening of bank accounts, acquisition of debit/credit cards, investment in mutual funds, and large cash deposits. Furthermore, it will hamper income tax return filings and refunds, TDS/TCS credits, and the submission of Form 15G/15H for nil TDS.

Last Chance for Revised Income Tax Returns:

December 31st also marks the final opportunity for taxpayers to file revised or belated income tax returns for the financial year 2024-25 under Section 139(5) of the Income Tax Act. This provision allows for corrections to previously submitted returns. Beyond this date, corrections will be impossible, except in specific circumstances where an updated return can be filed with tax department approval.

GST Registered Entities Must File Annual Returns:

Businesses registered under the Goods and Services Tax (GST) regime must also file their annual GST return by December 31st. This consolidated return encapsulates critical financial data, including total sales, input tax credits claimed, taxes paid, and refunds received during the fiscal year. Delays or inaccuracies in filing can trigger late fees, potential scrutiny, and notices from tax authorities.

Tax experts emphasize the critical importance of meeting these year-end compliance requirements to avoid penalties and ensure seamless financial operations. Taxpayers and businesses are advised to take immediate action to meet these deadlines and avoid potential disruptions.

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