5 key money rule changes from tomorrow, 1 November 2026: What pensioners, taxpayers and bank customers should know
Several financial and banking-related changes will take effect from 1 November 2026. These include changes to GST provisions, revised bank charges and the annual life certificate submission window for pensioners.
Meanwhile, eligible taxpayers have a revised deadline for filing income tax returns. Here is what taxpayers, business owners, and bank account customers should know.
Government pensioners below 80 years of age can submit their annual life certificates from 1 November to 30 November 2026. Pensioners aged 80 and above have already started submitting them from 1 October.
They can submit the certificate physically at a pension-disbursing bank branch or digitally through the Jeevan Pramaan facility using Aadhaar-based authentication and face authentication.
PFRDA has also enabled the UPS Jeewan Setu Digital Life Certificate (DLC) facility for Unified Pension Scheme (UPS) subscribers. Eligible pensioners need to submit their annual life certificates through the Protean eGov App by 30 November.
The deadline for filing income tax returns for certain taxpayers covered under audit requirements for Assessment Year 2026-27 has been extended from 31 October to 21 November 2026.
The extension applies to eligible businesses, professionals, firms, and other specified taxpayers who have filed an tax audit report by 21 October 2026.
The government has notified changes to certain provisions of the Central Goods and Services Tax Act, 2017, effective 1 November 2026.
The amendments cover post-supply discounts, credit notes and GST refunds. They include revised conditions for excluding eligible post-sale discounts from taxable value, including the requirement to reverse attributable input tax credit.
The changes also address refund provisions, including those relevant to businesses facing inverted duty structures.
Punjab National Bank (PNB) has revised service charges on its Visa and RuPay credit card variants from 1 November 2026.
For cash withdrawals at PNB ATMs, the fee will be 2.5% of the amount withdrawn or ₹400, whichever is higher. At other domestic ATMs, the charge will be 2.5% of the withdrawal amount or ₹500, whichever is higher.
The bank has also revised late payment fees based on the outstanding amount due. Earlier, no charge was applied for dues of ₹1,000 or less, while the maximum fee was ₹750 for dues above ₹10,000. From November 1, no fee will apply for dues up to ₹500, while the maximum charge will increase to ₹1,200 for outstanding amounts above ₹50,000.
Additionally, PNB has introduced a utility bill payment fee of 1% of the total utility payments if they exceed ₹50,000 in a billing cycle, subject to a maximum charge of ₹2,000 per transaction. Earlier, no such fee was applicable.
Other changes on these credit cards include cheque return charges and ECS/auto-debit dishonour charges.
From 1 November, IndusInd Bank will levy charges on certain failed transactions for customers holding Indus Delite, Indus Digi-start, Indus Online-Min Bal Required and Indie (Star/ Superstar/ Megastar) savings accounts.
A POS transaction declined due to insufficient funds will now attract a ₹25 charge. A failed IndusInd Bank ATM transaction due to insufficient balance will also cost ₹25. Cheques returned for reasons other than financial reasons will attract a charge of ₹50 per cheque.
These charges are exclusive of GST. Earlier, all three failed transaction types were free of charge.
Sheetal Goel is a Content Producer at Livemint, where she covers corporate developments, personal finance, business trends, markets, and SEBI-related updates. She focuses on simplifying complex financial concepts and presenting them in a clear, reader-friendly manner, thereby helping audiences better understand investment trends, personal finance, and market developments. Her writing focuses on making finance more accessible to everyday readers while maintaining clarity, accuracy, and relevance. <br><br> She holds a degree in Economics (Hons.) along with an MBA in Finance, which has helped her develop a strong foundation in financial analysis, market understanding, and business reporting. Before joining journalism, she worked with finance and broking firms, where she closely followed market developments, investment strategies, and evolving industry trends. This practical exposure strengthened her understanding of financial markets. She has also written content across multiple formats and platforms, including YouTube, LinkedIn, and Instagram. <br><br> Over time, she has developed expertise in covering market-linked stories, investor-focused topics, and regulatory updates in a simplified yet informative style. She also enjoys reading and listening to Hindi poetry, reflecting her appreciation for literature and creative expression beyond the world of markets and numbers.
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