The Era of 'Casual' tax filing is officially over. Are you prepared for the Dec 31st deadline?

CA Prashant Hegde | Last updated: 31 December 2025

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The days of casual tax filing are gone, with the Income Tax Department now closely monitoring taxpayers. With the December 31st deadline for belated and revised returns approaching, the department is focusing on disproportionate deductions, non-filers with high-value transactions, and undeclared foreign assets. Missing this deadline will result in significant penalties through an Updated Return (ITR-U).

The Tightening Noose: Why "Wait and See" is No Longer an Income Tax Strategy The era of "casual" tax filing is officially over. If you've been tracking the recent wave of notices from the Income Tax Department, the message is loud and clear: The system is watching, and it's time to get compliant.

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About the Author

CA Prashant Hegde

Chartered Accountant

Im CA Prashant Hegde, a practicing Chartered Accountant and partner at H A B and Co., Bangalore. I specialize in Direct Taxation, Audit, and Advisory, with a strong focus on delivering practical and compliant solutions. Passionate about tax law and committed to professional ethics, I work with a diverse range of client ... Read more

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