September isn’t just a month of festivals—it’s also a critical time for your finances. Missing deadlines related to income tax, GST, pensions, Jan Dhan account updates, or fixed deposits can create avoidable complications. Here’s a rundown of five essential money and tax tasks you need to complete this month.
1. Income Tax Filing Deadline Extended
If you’re an individual taxpayer or part of an HUF and don’t require an audit, the deadline to file your Income Tax Return (ITR) has been extended to 15 september 2025. The original deadline was 31 July. Filing on time helps you avoid penalties, interest, and future complications. Check your documents, complete your ITR, and submit before this final date.
2. GST Rates May See a Big Shake-Up
The GST Council is meeting on 3–4 september in Delhi, and a major reform is expected. Reports suggest:
Existing four GST slabs may reduce to just two: 5% and 18%
A special 40% tax could apply to luxury items like cars, SUVs, and tobacco products
New GST rates could be announced by 22 September and implemented from Navratri. This reform aims to simplify taxes and align with PM Modi’s “Next Generation GST” promise, easing the tax burden on citizens.
3. Switch from NPS to UPS Before 30 September
Central government employees have until 30 september 2025 to switch from the National Pension System (NPS) to the Unified Pension Scheme (UPS). Key points to remember:
This switch is one-time and final
Only employees who previously opted for UPS can make the move
Make your decision wisely, as there’s no turning back once the switch is done.
4. Re-KYC Your Jan Dhan Account
Many Jan Dhan accounts are completing 10 years, and the RBI has mandated a re-KYC update by 30 september 2025. Banks are organizing camps at local Panchayats to facilitate this process. Updating your KYC ensures your account remains active and accessible, preventing future hassles in withdrawals, deposits, or government benefit transfers.
5. Last Chance for Special Fixed Deposit Schemes
Banks such as Indian Bank and IDBI Bank are offering special fixed deposit (FD) schemes with attractive interest rates. Deadlines for these schemes are 30 september 2025:
Indian Bank: 444-day and 555-day FDs
IDBI Bank: 444-day, 555-day, and 700-day FDs
Don’t miss the opportunity to earn higher returns on your savings before the month ends.
Final Takeaway
September 2025 is a crucial month for managing your finances efficiently. From tax filings to FD investments, staying on top of deadlines ensures financial security, avoids penalties, and maximizes returns. Mark these dates in your calendar and take action today to stay ahead of the curve.
Disclaimer:
The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk..jpg)
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