5 Rule Changes from September 1: A New Financial Landscape for Indian Households

Starting September 1, 2025, a series of notable rule changes come into effect across finance, banking, and daily essentials in India. These reforms—ranging from ITR filing deadlines to silver hallmarking, SBI card fees, LPG price revision, ATM usage charges, and shifting FD rates—will make a direct impact on household budgets and financial planning. Let’s walk through what’s changing, who’s affected, and the steps consumers should consider.

 

Key Highlights: What’s Changing from September 1

 

Income Tax Return (ITR) Filing Deadline: The cutoff for non-audited taxpayers is now September 15, extended by the Central Board of Direct Taxes (CBDT) to give individuals more time for compliance. Missing it may bring late fees and penalties. The audit-required taxpayer deadline remains October 31.

 

Silver Hallmarking Becomes Compulsory: Silver jewellery and artifacts must carry government-approved hallmarking to certify purity, akin to gold rules. This increases transparency for buyers, though market prices may fluctuate as sellers adjust to new compliance requirements.

 

Higher Fees for SBI Credit Cardholders: SBI cards will now attract a 2% penalty for failed auto-debit payments, more charges for international transactions, possible increased fee on fuel and select online purchases, and a reduced value for reward points. Extra tracking is advised.

 

LPG Cylinder Price Reset: Oil companies will announce fresh LPG prices as usual on the first of the month, but global crude trends and currency rates suggest possible increases that could strain kitchen budgets—or, if cut, a welcome reprieve for households.

 

ATM Usage and FD Rate Revisions: Banks are enforcing stricter ATM withdrawal rules—expect higher charges for exceeding monthly limits, prompting a push towards digital banking options. Fixed deposit rates, currently at 6.5–7.5%, may be revised downward, so investors may secure better returns by locking rates early.

 

How Each Rule Will Affect You

 

Income Tax Return Adjustments

 

Non-audited taxpayers must file by September 15, while those needing audits have until October 31. Timely compliance avoids financial penalties and ensures continued eligibility for potential refunds and government scheme benefits.

 

Silver Hallmarking

 

Any silver purchased from September 1 will come with a hallmark, providing assurance of purity and market value. Buyers should seek hallmarking and expect brief fluctuations in silver prices as the jewelry industry adjusts to updated standards.

 

New SBI Credit Card Charges

 

SBI cardholders need to watch for new auto-debit penalties and possible higher charges on selected transactions, especially fuel and online payments. Consider alternative payment methods or spend planning to avoid unexpected deductions and reduced reward point values.

 

LPG Cylinder Price Shift

 

LPG cylinder rates, updated monthly, may move up or down based on global conditions. Any hike will increase household cooking expenses, while reductions offer savings. Consumers are advised to check new rates and plan monthly budgets accordingly.

 

ATM and Fixed Deposit Rates

 

Exceeding ATM withdrawal limits will attract higher charges, nudging more users towards digital transactions. Speculated FD rate reductions mean now is the best time to park medium-term savings to lock in higher interest rates before banks adjust.

 

Conclusion: Prepare and Protect Your Interests

 

September 1 signals important changes which can ripple through daily finances. Immediate actions include organizing tax paperwork for timely filing, monitoring SBI card statements, reviewing ATM habits, seeking hallmark on silver purchases, and assessing FD investments. Staying informed, managing expenses, and consulting financial advisers where needed will help minimize disruption and maximize benefits.

 

Sources: Pune Pulse, India Briefing, Outlook Money, NDTV, News18