Financial changes from September 1: ITR, LPG e-KYC, fuel prices and more | Personal Finance
As August ends, several money-related deadlines and monthly price reviews are coming into focus.
For taxpayers, August 31 is particularly important, as it is the last date for certain income tax return filings and LPG e-KYC.
Here are the key changes and deadlines that matter for your money.
ITR deadline: August 31 is the key date for some taxpayers
For other individual taxpayers who were not covered by special categories, the return-filing deadline was July 31.
If you have missed your applicable deadline, you can still file a belated return. For the current assessment year, the belated return can generally be filed up to December 31, 2026, or before completion of assessment, whichever is earlier.
A late filing fee can apply:
• Rs 1,000 if total income does not exceed Rs 5 lakh
• Rs 5,000 if total income exceeds Rs 5 lakh
Therefore, taxpayers who are still within the August 31 deadline should not assume that September 1 gives them additional time.
LPG e-KYC deadline also ends today
Domestic LPG consumers who have not completed the required Aadhaar-based biometric authentication should take note of the August 31 deadline.
Oil marketing companies have been asking consumers to complete the verification process. The process can generally be completed through the respective LPG provider’s digital channels or by visiting the distributor.
Consumers should not leave the process until the last minute, particularly if they regularly depend on domestic LPG supplies.
The practical impact of not completing the verification can depend on the consumer and the applicable subsidy or supply rules. Therefore, customers should check their LPG provider’s latest instructions rather than assume that a cylinder booking will automatically stop.
LPG prices could change from September 1
The price is not necessarily increased every month. It can remain unchanged or move up or down depending on the government’s pricing decisions and other factors.
For households, even a relatively small change matters because LPG is a recurring expense. Commercial LPG prices are particularly relevant for restaurants and other businesses, with any increase potentially feeding into operating costs.
Air travel costs: Watch ATF prices
September could also bring a revision in aviation turbine fuel (ATF) prices.
ATF is one of the major operating costs for airlines. A rise in fuel prices can increase pressure on airlines’ costs, although it does not automatically mean that ticket prices will rise by the same amount.
For travellers planning flights in September, therefore, fuel prices are one factor worth watching alongside seasonal demand, airline capacity and airport charges.
Bank charges may also change
Banks periodically revise charges for services such as ATM transactions, cash handling, account services and other facilities. Such changes are not necessarily uniform across the banking sector.
Customers should therefore check their bank’s latest schedule of charges rather than assume that every bank will make a revision on September 1.
This is particularly relevant for customers who regularly exceed free transaction limits, use cash services or maintain accounts with specific service conditions.
Fixed deposits
From October 1, 2026, banks will have to disclose interest rates for bulk deposits of Rs 3 crore or more on their websites every business day. Banks will also have to offer the same rate across their branches for deposits falling within the same applicable category and accepted on the same date.
The changes primarily concern large depositors. Retail FD investors will not suddenly see their existing deposits repriced because of this rule.
For ordinary savers, the main benefit is likely to be greater transparency when comparing rates for large deposits.
Other dates to keep in mind in September
The month also brings several routine tax and GST compliance deadlines.
• September 7: TDS/TCS payment for August.
• September 15: Second instalment of advance tax for the relevant tax year.
• September 11: Monthly GSTR-1 filing deadline for eligible taxpayers.
• September 20: GSTR-3B filing deadline for monthly filers.
• September 30: Several tax audit and other compliance deadlines.
For most households, however, the immediate priorities are simpler: Check whether your ITR deadline is August 31, complete LPG e-KYC if pending, and monitor September’s LPG and other price revisions. The much-discussed bulk FD changes are a month away, not a September 1 rule.
