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 productsNew GST rates could be
announced by 22 September and implemented from
Navratri. This reform aims to simplify taxes and data-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 finalOnly employees who previously opted for UPS can make the moveMake 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 FDsDon’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.