The new month comes with significant updates in money matters, including new deadlines and fresh starts. Track such updates as September starts to stay informed about the latest commodity prices, key dates, and rule changes.
ITR-deadline
The last day for non-audit business and professional taxpayers to file the Income Tax Return (ITR), as per the revised return-filing schedule introduced through amendments to the Income-tax Act, 1961, under the Finance Act, 2026, was August 31. As the last day has passed, taxpayers who are yet to file their returns can do so now until December 31 or before the completion of assessment, whichever comes first.
Beginning September, business and professional taxpayers under the non-audit category can file the belated return with a penalty of Rs 1,000 if their total income falls below Rs 5 lakh, and Rs 5,000 otherwise.
LPG e-KYC
The last date for consumers to complete e-KYC for their LPG connections was August 31. According to the Oil Marketing Companies (OMCs), consumers were given additional time to complete the process, with the previous deadline being August 16.
However, this does not imply that consumers who failed to upload their KYC on time would not receive LPG connections. Such consumers can still buy LPG cylinders at commercial rates, which are usually much higher than domestic prices.
Moreover, uploading the KYC would continue even after the deadline has passed, since new consumers would have to upload their personal details and complete the verification process.
FD interest rates
A reminder for FD investors regarding the Reserve Bank of India’s revised framework for bank deposits, which will come into effect on October 1, 2026. As per the new rules, banks are required to publish the interest rates applicable to bulk deposits on their websites every business day by 10 a.m., with a grace period of 10 minutes. This means the latest a bank can publish the rates is 10:10 a.m.
The second rule requires banks to offer a uniform rate of interest on different deposits of the same amount made on the same day. If two depositors put the same amount in a bank on the same day, the rates of interest offered must be the same.
LPG and ATF prices
The price of 19-kg commercial LPG cylinders has gone up by Rs 9.5, while aviation turbine fuel (ATF) prices for domestic airlines have risen 5.46 per cent, or Rs 6.28 per litre.
Moreover, citing a sharp rise in input gas prices induced by the Middle East crisis, Mahanagar Gas Ltd (MGL) has increased CNG and domestic PNG prices in Mumbai. CNG prices in Mumbai have hiked by Rs 2 per kg to Rs 88, while domestic PNG prices have increased by Rs 1 per standard cubic metre (SCM).
