Last Chance Today: Revised ITR, PAN-Aadhaar Linking, Small Savings Investments – Avoid Losses

New Delhi: December 31 marks the end of 2025, and with it, several critical financial deadlines are expiring today. Taxpayers and investors have just a few hours left to complete key tasks, failing which they may face penalties, loss of benefits, or reduced returns.

Revised ITR Filing
For the assessment year 2025-26 (FY 2024-25), December 31 is the final opportunity to file a revised income tax return (ITR) or correct any errors in your existing submission. Missing this deadline may result in hefty fines, interest on unpaid taxes, and the inability to carry forward business or capital market losses to offset next year’s profits. After today, taxpayers can only file an ITR-U (Updated Return) within 48 months of the assessment year’s end—but this option does not allow claiming past losses and involves penalties.

PAN-Aadhaar Linking
Today is also the last day for certain PAN card holders to link their PAN with Aadhaar, specifically those who had used their Aadhaar enrolment ID instead of the Aadhaar number while applying for PAN. Failing to link by today will render the PAN inoperative, affecting tax filings, TDS deductions, KYC processes, investments, and fixed deposit applications.

Small Savings Schemes
Investors aiming to invest in small savings schemes such as PPF, Sukanya Samriddhi, or NSC have today as the last chance to do so at the current interest rates. The Reserve Bank of India’s recent 0.25% repo rate cut has lowered bond yields, and the government may announce revised interest rates for the next quarter starting January 1, 2026.

Conclusion
December 31, 2025, is not just the last day of the year but also the final window to secure tax benefits, maintain PAN validity, and lock in current interest rates on small savings schemes. Missing these deadlines may result in financial losses, penalties, and missed opportunities.