Indeed, Allah does not give guidance to anyone who is transgressor, a liar. 
LYING is most common bad way in our society; it seems a little sin but it most great sin that is why we are guided by ALLAH and prophet [pbuh].Lie has destroyed our family, relatives, neighbors, friends etc. lie has taken faith from people, lie takes to HELL FIRE , lie causes fight , jealous , divorce etc.
Prophet said, "The signs of a hypocrite are three:
1.Whenever he speaks, he tells a lie 2. Whenever he promises, he always breaks it (his promise) 3. If you trust him, he proves to be dishonest. (If you keep something as a trust with him, he will not return it)"
Allah Almighty say`s in AL-QURAN
لَّعْنَتَ اللّٰهِ عَلَي الْكٰذِبِيْنَ The curse of Allah upon the liars. 
The Messenger (pbuh) said, “. . . . . truthfulness surely leads to righteousness and righteousness leads to Paradise, and a man is recorded with Allah as a sincere one as long as he is truthful. However, lying leads to immorality and immorality leads to the Hell-Fire, and a man is recorded With Allah as a liar as long as he lies.”
Ibn Mas'ud (may Allah be pleased with him) said, "A servant insists on lying until a black dot be stamped over his heart and so his heart would be stamped as a whole with black color. With Allah such servant would be recorded as a liar.”
The Muslim, therefore, is required to utter only the good words to be safe from error. Al-Bukhari reported on the authority of Abu Huriarah (may Allah be pleased with him) that the Messenger of Allah (pbuh) said, "Whoever believes in Allah and in the Last Day should utter only good word or he should keep silent."
This agreed upon hadith indicates clearly that a person should not speak except with what seems to him as good.
NOTE: - LYING is among Great sins so if a person lied he needs to Repent to ALLAH, INsha-Allah he would be forgiven. If he does not repent he would be given punishment. So be aware of lying.
Founder our Islamic web
STUDENT M. S. B KASHMIR
11:58 pm Sunday 08-09-13
و آخرُ ألحمدللہ
1 Al Quran 40:28 2 Sahee Bukharie BOOK OF FAITH. 3 AL Quran [3:61]. 4 Reported by A1-Bukhari and Muslim. 5 Reported by Malik in AI-Muwata'.