Deadline Alert: 5 Money And Tax Tasks You Can't Afford To Ignore This September

September is not only a festive month but also a critical period for completing several important financial tasks. Missing these deadlines related to income tax, GST, pension schemes, Jan Dhan account updates, and fixed deposits can lead to avoidable problems. Here's a rundown of the 5 key tasks you must finish this month.

1. Last Date for Filing Income Tax Return

If you are an individual taxpayer or part of an HUF and don't require an audit, the deadline to file your income tax return has been extended to 15 September 2025. Earlier, it was 31 July, so make sure to file before the new deadline to avoid penalties.

2. Big Change in GST Rates

The GST Council meets on 3-4 September in Delhi, where a major reform is expected. The existing four GST slabs may be replaced by just two, 5% and 18%. Additionally, a special 40% tax may be applied to luxury goods like cars, SUVs, and tobacco products. New GST rates could be announced by 22 September and implemented from Navratri. This aligns with PM Modi's promise of "Next Generation" GST reforms to ease the tax burden on citizens.

3. Deadline for Switching from NPS to UPS

Central government employees have until 30 September 2025 to switch from the National Pension System (NPS) to the Unified Pension Scheme (UPS). This switch is one-time and final; once moved, employees cannot revert to UPS. This option is only available to those who already opted for UPS.

4. Re-KYC of Jan Dhan Account

Jan Dhan account holders must update their KYC details by 30 September 2025, as many accounts have completed 10 years. RBI has instructed banks to facilitate re-KYC through camps at local Panchayats. Updating your documents ensures your account remains active without future issues.

5. Last Date for Special FD Schemes

Banks like Indian Bank and IDBI Bank offer special fixed deposit schemes with attractive interest rates. The deadline for investing in Indian Bank's 444- and 555-day FDs and IDBI's 444-, 555-, and 700-day FDs is 30 September 2025. Don't miss out on this opportunity.

September is crucial for managing your finances efficiently. Completing these tasks on time can save you from unnecessary difficulties later.