Money changes from November 1: From Pensioner life certificate to ITR deadline — Key things that may impact your pocket
Key money rule changes next month: With November 2026 almost here, the next days have some changes set to come into effect, that will directly impact your pockets. Starting from November 1, here's a look at what can cost you more money, tips to save or invest in your future.
Key changes that come into force in November 2026:
Retired central and state government employees receiving pension are required to submit their annual ‘Life Certificate’ (LC), at the nearest bank branch by November-end. Failure to do so, could result in delay or disruption of pension payments.
You can choose to submit your LC either physically, digitally using the Jeevan Praaman Patra facility with Aadhaar identification, or avail the Postal Department's doorstep life certificate facility. All of the processes are free of cost, but failure to submit the document could impact your pension from December onwards.
For pensioners aged over 80 years, the process began from 1 October, for other retirees, the process starts from 1 November. Notably, deadline is 30 November.
The Central Board of Direct Taxes (CBDT) has this year extended the income-tax returns deadline for taxpayers filing audited ITR for FY26 i.e. assessment year AY27 from 31 October to 21 November 2026.
Any taxpayer with income from business or professional services, who is also required to submit an audit report, shall file their return by this deadline to avoid penalties and tax notices. Companies whose accounts are audited under company law must also file their audit reports. The requirement also applies to firms, LLPs and other entities covered under the applicable audit provisions.
For businesses, a tax audit is required if their total sales, annual turnover or gross receipts exceed ₹1 crore in a relevant financial year. However, this threshold is raised to ₹10 crore where the cash receipts and cash payments levels are less than 5% of total receipts and payments, respectively.
For professionals, on the other hand, the general threshold for requiring a tax audit is ₹50 lakh in gross receipts.
Notably, salaried taxpayers are not impacted by the audit ITR filing due date, because deadline for ITR-1 and ITR-2 filings passed on 31 July, with belated or delayed returns available till 31 December 2026. The process will have applicable late fees applied and some exemptions not allowed.
Those who want to file revised returns must also complete this process by year-end. Belated ITR for FY26 / AY27 if not completed by December 2026 will attract extra penalty fee depending on the period of delay and amount due.
The Cabinet Committee on Economic Affairs (CCEA) last week (14 October) approved sale of 60.72% stake of IDBI Bank to Canada-based Fairfax. Since this is in effect a merger and not dissolution, customer bank accounts, your fixed deposits, recurring deposits, direct benefit transfers (DBT) and loans will continue as before. Notably, the deal is awaiting clearance from the Reserve Bank of India (RBI).
Gold jewellery buyers often look for the hallmark as a sign of purity, but checking HUID code is equally important. The hallmark unique identification (HUID) number is a six-digit alphanumeric code stamped on every BIS-hallmarked gold jewellery piece. The code helps buyers verify the authenticity and purity of the jewellery through the BIS Care mobile app or online portal.
Since the introduction of HUID in 2021, the BIS hallmark comprises three mandatory marks: The BIS logo, the fineness and karatage, and the six-digit alphanumeric HUID code. Currently, in India, only gold is subject to mandatory hallmarking requirements, as the government aims to protect consumers from fraud and to improve trust in the gold market.
Jocelyn Fernandes is a journalist and editor with nearly 13 years of experience covering the business, corporate, economy and markets beats in news.<br> As chief content producer for around three years at Livemint (Hindustan Times), Jocelyn publishes breaking stories, explainers, features and live blogs on a range of business and economy topics, including the Budget, corporate developments, stock markets, income tax, money and personal finance, cryptocurrency, government policy, impact of US tariffs, international developments and more.<br> Jocelyn's writing philosophy is focused on delivering news in an accurate and accessible format for readers. She thus focuses her news coverage on explainers and FAQs in order to breakdown business, corporate, economic, and policy topics that are of importance to everyday readers.<br> She holds a Bachelors in Mass Media (BMM) and Post Graduate Diploma (PGD) in Journalism and Communication and has previously written for online business and markets news site Moneycontrol (Network18), Business-to-business (B2B) trade publications — the industry magazines Power Today and Solar Today (ASAPP Media), and the national news agency United News of India (UNI).<br> Outside of work, Jocelyn keeps up-to-date with local and international news, enjoys reading fiction books, novels and short stories, and enjoys movies, travelling and art. <br> She can be found on X and LinkedIn, and reached by email: <a href="jocelyn.fernandes@htdigital.in">jocelyn.fernandes@htdigital.in</a> <br> X/ Twitter handle: <a href="https://x.com/scribeJocelyn">@scribeJocelyn</a> <br> LinkedIn: <a href="https://in.linkedin.com/in/jocelyn-fernandes-journalist">LinkedIn</a>
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