A new set of rules will start kicking in from next month as several important deadlines for bank customers, pensioners, PAN card holders and taxpayers fall on November 30. These changes will have an immediate impact on household budgets and monthly planning, including pensions, tax filings, and fuel prices.From critical Income Tax deadlines for ITR filing to SBI discontinuing its mCASH service and the last date for life certificate submission, December is arriving with a series of important financial updates. Here’s a quick roundup of all the major deadlines, rule changes and compliance requirements:UPS Deadline | The final date for eligible central government employees to exercise their option to switch from the National Pension System (NPS) to the Unified Pension Scheme (UPS) is November 30. Those who want to move from the NPS to UPS must complete the process online using the CRA portal or by submitting applications to nodal offices before the deadline.
SBI to discontinue mCASH service: The State Bank of India (SBI) will no longer offer its mCASH sending and claiming facility on OnlineSBI and YONO Lite after November 30. SBI has urged customers to switch to alternative, more secure and widely used digital payment modes like UPI, IMPS, NEFT, and RTGS for transferring money.LPG Prices | On December 1, oil companies will revise cooking gas pricing as they do every month. Commercial LPG cylinders saw a small reduction last month, but homes are waiting for Sunday’s report to see if residential LPG rates will fall or rise. For many families, these changes will have an impact on their household spending and their monthly budgets.PAN – Aadhaar Linking Deadline | The Income Tax Department has extended the deadline for linking PAN with Aadhaar card to December 31 for those who acquired their PAN using an Aadhaar enrolment ID before October 1, 2024.Belated ITR Filing Deadline | If a taxpayer misses the due date for filing the original return, they can file a Belated Income Tax Return (ITR). Filed under Section 139(4) of the Income Tax Act, it provides taxpayers with a second chance to remain compliant; however, it may result in fines. Taxpayers can file a belated return for the fiscal year 2024-25 until December 31.ITR Deadline for Tax Audit Cases | The Central Board of Direct Taxes (CBDT) has extended the due date for furnishing the Income Tax Return for tax audit cases to December 10. “The ‘specified date’ of furnishing of the report of audit under the provisions of the Income-tax Act, 1961, for the Previous Year 2024-25 (Assessment Year 2025-26), in the case of assessees referred to in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, originally due on 30th September, 2025, was extended to 31st October, 2025. The Central Board of Direct Taxes has decided to further extend the said ‘specified date’ from 31st October, 2025, to 10th November, 2025,” the CBDT said.Last Date to Submit Life Certificate (Jevaan Pramaan Patra) | The deadline for government pensioners to file a life certificate to continue receiving their pension is November 30. The Digital Life Certificate (DLC) is a biometric-enabled, Aadhaar-based digital certificate for pensioners. They can generate their Jeevan Pramaan Patra using their Aadhaar number and biometrics.Aviation Turbine Fuel Prices | The pricing for aviation turbine fuel (ATF) will also be revised on December 1. Any increase or decrease in ATF prices has a direct impact on airline operating costs and can influence airfares, particularly during the peak holiday season.
