Tax and household deadlines converge on 31 August amid rule changes and compliance push

As August ends, households and taxpayers face critical deadlines for tax filing, LPG e-KYC, and forex swaps, signalling a busy month-end for compliance in India.

As the new month approaches, several money-related deadlines are converging on 31 August, with the most immediate concerns ranging from tax returns to cooking gas compliance. According to Aaj Tak, the cut-off falls before a series of rule changes due from 1 September, leaving households and taxpayers with only a short window to act.

The Income Tax Department has reminded business owners and professionals who are not subject to tax audit that they must file their returns for assessment year 2026-27 by 31 August. LiveMint and The Economic Times reported that, as of 20 August, more than 2 crore ITR-3 and ITR-4 forms had been submitted, taking total filings for the assessment year to more than 6.5 crore. Taxpayers using ITR-1 and ITR-2 had an earlier deadline of 31 July, although late filing may still be possible with penalties.

There is also a final date for those who want to remain under the old tax regime. Aaj Tak said taxpayers opting out of the new system must submit Form 10-IEA when revising their returns, and compliance trackers list 31 August as the deadline. In a separate development, the Reserve Bank of India has brought forward the deadline for its special FCNR(B) foreign-exchange swap facility from 30 September to 31 August, a move relevant mainly to non-resident Indians and holders of such deposits.

Separately, LPG users who have not completed e-KYC face disruption if they delay further. According to reports, the deadline for biometric verification has been pushed to 31 August, and missing it could mean bookings are blocked from 1 September, while beneficiaries under the Ujjwala scheme may also lose subsidy support until compliance is complete. The timing makes 31 August a key date for both tax planning and household essentials.