Starting October 1, significant changes will impact banking, taxation, savings, and household expenses across India.
The updated UPI MDR framework will apply to merchant transactions above Rs 2,000, though customers will not incur charges and peer-to-peer UPI transfers remain free.
The Central Board of Direct Taxes has extended deadlines for taxpayers under tax audit provisions for assessment year 2026-27, pushing the tax audit report filing to October 21 and income tax return filings to November 21.
Domestic LPG consumers must complete biometric Aadhaar authentication to avail subsidised refills at regulated prices; those who do not comply can still purchase LPG at market rates.
State Bank of India will reduce free monthly ATM transactions at other banks for salary package account holders from 10 to five, including both financial and non-financial operations.
Basic Savings Bank Deposit accounts will continue to allow four free cash withdrawals per month, with subsequent withdrawals charged at Rs 15 plus GST.
October 1, resident individuals and Hindu Undivided Families purchasing property from non-resident sellers can use PAN instead of a separate TAN for TDS compliance.
The revised National Pension System Point of Presence fee structure will begin, featuring a Rs 200 onboarding charge per PRAN.
Reserve Bank of India mandates regional rural banks to disclose bulk deposit rates on their websites by 10 am on business days.
The RBI’s Monetary Policy Committee will hold its meeting from October 5 to 7, with a policy announcement scheduled on October 7, following the previous decision to maintain the repo rate at 5.25%.