IMPORTANT TAX COMPLIANCE REMINDER

Income Tax & GST – Key Due Dates and Actions Required

As we approach the year-end compliance period, taxpayers are advised to take note of the following critical Income-tax and GST obligations to avoid penalties, interest, and loss of benefits.

INCOME TAX – DECEMBER 31st DUE DATE

Who must act before 31st December?

1. Taxpayers who have not yet filed Income-tax Return (ITR) for the relevant Assessment Year.

2. Especially applicable to:

• Individuals
• Proprietors
• Professionals
• Small businesses

Consequences of not filing ITR:

1. Late filing fees under Section 234F
2. Interest under Sections 234A / 234B / 234C
3. Loss of:

• Carry-forward of losses
• Refund claims

4. Increased chances of Income-tax notices

Action Required:

File the pending Income-tax Return immediately to avoid further consequences.

AADHAAR – PAN LINKING (MANDATORY)

Important Update:

1. PAN must be linked with Aadhaar.
2. Unlinked PANs are treated as inoperative.

If PAN is inoperative:

• Income-tax Return cannot be filed
• Higher TDS/TCS deduction
• Bank transactions and financial filings may get blocked

Action Required:

Check Aadhaar-PAN status and complete linking at the earliest by paying the applicable fee, if not already linked.

GST ANNUAL RETURN – GSTR-9 & GSTR-9C REMINDER

Due Date (for applicable Financial Year):

• GSTR-9 – Annual Return
• GSTR-9C – Reconciliation Statement & Audit (where applicable)

Who must file?

1. GSTR-9:

• Regular GST taxpayers (mandatory based on turnover limits)

2. GSTR-9C:

• Taxpayers crossing prescribed turnover threshold

Consequences of non-filing:

1. Late fee per day (CGST + SGST)
2. Notices from GST department
3. Difficulty in future GST compliance
4. Risk of audit and assessments

Who must file?

1. GSTR-9:

• Regular GST taxpayers (mandatory based on turnover limits)

2. GSTR-9C:

• Taxpayers crossing prescribed turnover threshold

Consequences of non-filing:

1. Late fee per day (CGST + SGST)
2. Notices from GST department
3. Difficulty in future GST compliance
4. Risk of audit and assessments

CONCLUSION

     The December 31, 2025, deadline is more than just a date on the calendar—it is the final threshold for maintaining your financial compliance in India. Missing these deadlines can lead to a cascade of issues, from heavy penalties and inoperative PAN cards to blocked GST credits and legal notices.

     Timely compliance not only avoids penalties and interest but also ensures:

• Smooth financial transactions
• Better compliance rating
• Peace of mind at year-end