August 31, 2026 is the critical deadline for income tax return filing for taxpayers with business or professional income who are not subject to tax audit. According to Business Standard, for other individual taxpayers who were not covered by special categories, the return-filing deadline was July 31. Taxpayers who miss their applicable deadline can still file a belated return, with the belated return deadline generally up to December 31, 2026, or before completion of assessment, whichever is earlier. Late filing fees apply based on income level: ₹1,000 if total income does not exceed ₹5 lakh, and ₹5,000 if total income exceeds ₹5 lakh. Taxpayers should not assume that September 1 provides additional time for filing, as the deadline remains firm.
The RBI's special FCNR(B) dollar-rupee swap window closes on August 31, 2026, marking a significant shift for foreign currency deposits. From September 1, fresh FCNR(B) deposits will no longer be covered by the special facility, though existing deposits remain unaffected. The closure of the swap window does not mean FCNR(B) deposits themselves will stop being available; rates for new deposits will depend on the applicable bank rate and prevailing rules. According to reports from The Economic Times, this change affects the special pricing that was available under the RBI's dollar-rupee swap window.
September 7 is the TDS and TCS payment deadline for tax deducted or collected during August 2026, applicable to businesses, employers and other deductors required to deduct TDS or collect TCS. September 14 is the deadline for issuing Form 132 TDS certificates for tax deducted during July 2026, essential for employees and taxpayers to verify correct tax reporting against their records. September 15 marks the second advance tax instalment deadline for Tax Year 2026-27, requiring at least 45% of estimated annual liability to be paid cumulatively, with the broader payment schedule: June 15 (15%), September 15 (45%), December 15 (75%), and March 15 (100%). September 30 brings the final major deadline for tax audit reports for Assessment Year 2026-27, covering companies and eligible non-corporate taxpayers, along with other reporting requirements including Form 141 challan-cum-statement for specified tax deducted during August.
August 31, 2026 was the deadline for domestic LPG consumers to complete e-KYC through Aadhaar-based biometric authentication. As reported by Business Standard, consumers who have not completed this verification process should take immediate action, as the process can be completed through respective LPG provider's digital channels or by visiting distributors. LPG prices could change from September 1 following monthly price reviews by oil marketing companies. The price revision depends on government pricing decisions and other factors, with even small changes mattering significantly for households as LPG is a recurring expense. Commercial LPG prices have increased by ₹9.5, with the price of 19-kg commercial LPG cylinders rising by this amount. Additionally, aviation turbine fuel (ATF) prices for domestic airlines have risen 5.46% or ₹6.28 per litre. For travellers planning flights in September, fuel prices are one factor worth watching alongside seasonal demand, airline capacity and airport charges.
SEBI's revised ETF framework will be implemented from September 7, 2026, covering aspects including the base price, price bands, pre-open call auction and close-out procedure for ETFs. The implementation timeline was extended to September 7, as reported by The Economic Times. Additionally, new nomination-related rules for demat accounts and mutual funds will apply from September 1, 2026, requiring investors to check their nomination status and ensure completion of the required nomination or opt-out process. These changes affect both individual investors and mutual fund schemes.
From September 1, passengers travelling abroad from India will no longer need to get their boarding passes stamped at immigration counters, as reported by The Economic Times. Travellers can now use an electronic boarding pass on their mobile phone or carry a printed boarding pass while completing immigration formalities. September could also bring a revision in aviation turbine fuel (ATF) prices, which is one of the major operating costs for airlines. For travellers planning flights in September, fuel prices are one factor worth watching alongside seasonal demand, airline capacity and airport charges. Additionally, Mumbai milk prices are set to rise from September 1, with the wholesale price of fresh buffalo milk reported to increase by ₹9 per litre to ₹102 per litre, applicable for the following six months. Mahanagar Gas Ltd (MGL) has increased CNG and domestic PNG prices in Mumbai, with CNG prices hiking by ₹2 per kg to ₹88 and domestic PNG prices increasing by ₹1 per standard cubic metre (SCM).
