From tax to FASTag… big changes implemented from March 1, update your financial planning immediately

Tezzbuzz Desk- Today, from March 1, 2026, the last month of the current financial year has started. Some important finance and consumer changes have come into effect this month, which can have a direct impact on your banking, tax filing, gas cylinder and jet fuel expenses.

The Reserve Bank of India (RBI) has directed all agency banks handling government work to remain open till March 31, 2026. This day is a public holiday due to Mahavir Jayanti, but banks will remain operational for tax collection and government payment processing. With this, all transactions for the financial year 2025-26 will be recorded on time.

The Telecom Regulatory Authority of India (TRAI) has set March 15, 2026 as the deadline to migrate all qualified stockbrokers (QSBs) to the 1600 numbering series. This change will make it easier for investors to identify calls coming from their brokers. After this, if a “financial” call comes from a standard 10-digit number, then the chances of it being a scam increase.

The deadline for filing revised Income Tax Returns (ITR) under the Union Budget 2026-27 has now been extended till March 31. Taxpayers can use the month of March to correct mistakes in the declaration for 2025-26 by paying a nominal fee, thereby avoiding penalty or scrutiny.

The National Highway Authority of India (NHAI) has removed the requirement of “Know Your Vehicle” (KYV) verification. From this March, existing FASTag holders do not need to undergo regular KYV verification. Additionally, new FASTag sub-wallets will also go live for digital wallet users from March 3, 2026, making tracking of toll funds easier.

This month, the prices of commercial gas cylinders have increased by Rs 188 to Rs 191.5 in Delhi, Kolkata, Mumbai and Chennai. Domestic gas cylinder prices are stable, but costs for commercial use have increased.

For the first time in the year 2026, jet fuel prices have increased by 5-6 percent. Jet fuel prices in Chennai have reached above Rs 1 lakh. This will impact airline operating costs and a possible increase in flight tickets may be seen.