Come September 1, several rules, deadlines, and financial changes will take effect that could impact your money, taxes and budgeting plans. Here's a look at what's changing next month.
The August 31 deadline forms part of the revised return-filing calendar introduced through changes to the Income-tax Act, 1961 in the Finance Act, 2026.
Under the revised framework, non-audit business and professional taxpayers have until August 31 to file their returns, while the due date for other taxpayers who do not fall under specified categories was July 31.
This means taxpayers who have yet to file should not wait for September 1.
However, taxpayers who miss the applicable due date can still file a belated return for AY 2026-27 until December 31, 2026, or before completion of assessment, whichever is earlier. Late filing attracts a fee of ₹1,000 where total income does not exceed ₹5 lakh and ₹5,000 in other cases.
The deadline for LPG consumers to complete Aadhaar-based biometric authentication is approaching. Those who have not yet completed the mandatory e-KYC process have until August 31, 2026, to do so.
Consumers who have not yet completed the process should do so before the deadline to avoid potential disruption.
The oil marketing companies, including Indian Oil, Bharat Petroleum and Hindustan Petroleum, have been urging customers to complete the verification process.
If you are an FD investor, you will have to keep tabs on banking rules. The Reserve Bank of India’s revised framework for bank deposits will come into effect on October 1, but not on September 1.
As per the new rules, all banks will, from October 1, have to publish the interest rates applicable to bulk deposits of ₹3 crore or more on their websites every business day. Also, they will have to maintain a fixed interest rate for a given deposit amount across all branches
However, they can continue to set different rates for different bulk-deposit slabs.
On September 1, LPG cylinder rates, aviation turbine fuel (ATF) prices, and some banking or ATM-related charges may be reviewed, but this depends on decisions by oil companies, banks, and other authorities.
All consumers should check the latest LPG cylinder price in their city and whether their bank has revised any service or ATM charges to avoid unexpected expenses.
ATF price changes are also worth watching for air travellers, as they can affect airfares.
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