New Delhi: Several important financial and banking changes are coming into effect from November 1, 2026. These updates will affect government pensioners, income tax return filers, businesses and bank customers. The changes cover annual life certificate submissions, revised ITR filing deadlines for certain taxpayers, amendments to GST provisions and updated service charges from Punjab National Bank (PNB) and IndusInd Bank.
Customers and pensioners should understand these new rules to avoid missing deadlines or facing unexpected charges. Here is a detailed look at the major changes effective from November 1.
Pensioners, ITR Filers and Businesses: What’s Changing?
Life Certificate Submission for Pensioners
Government pensioners below the age of 80 can submit their annual life certificates between November 1 and November 30, 2026. For pensioners aged 80 years and above, the submission window began earlier, on October 1.
Pensioners can provide their life certificates at the bank branch responsible for disbursing their pension. They can also use the Digital Life Certificate facility through Jeevan Pramaan. Aadhaar-based verification and face authentication are available for completing the process digitally.
The Pension Fund Regulatory and Development Authority (PFRDA) has also introduced the UPS Jeevan Setu Digital Life Certificate (DLC) facility for subscribers covered under the Unified Pension Scheme (UPS). Eligible pensioners under this arrangement must submit their annual life certificates through the Protean eGov App by November 30.
Revised ITR Filing Deadline for Certain Taxpayers
The income tax return filing deadline has been extended for specific categories of taxpayers who are required to undergo an audit for Assessment Year 2026-27.
Eligible businesses, professionals, firms and other specified taxpayers can now submit their ITRs by November 21, 2026, instead of the earlier deadline of October 31. To qualify for this extension, taxpayers must have submitted their tax audit reports by October 21, 2026.
This relief does not apply to every taxpayer. The revised date is limited to those who meet the prescribed eligibility conditions.
Changes to GST Rules
Certain provisions of the Central Goods and Services Tax (CGST) Act, 2017, are being amended from November 1 following government notification.
The amendments cover areas such as post-sale discounts, credit notes and GST refunds. They also revise the conditions under which eligible post-sale discounts can be excluded from the taxable value, including requirements concerning the reversal of related input tax credit (ITC).
Changes have also been introduced in GST refund provisions, including rules applicable to businesses claiming refunds under the inverted duty structure.
PNB Credit Card Charges Revised From November 1
Punjab National Bank has updated several service charges applicable to its Visa and RuPay credit cards. The revised rates will take effect on November 1, 2026.
One of the key changes concerns cash withdrawals using credit cards. The applicable charges will be:
| Cash Withdrawal | Revised Charge |
|---|---|
| PNB ATM | 2.5% of the withdrawn amount or ₹400, whichever is higher |
| Other domestic bank ATMs | 2.5% of the withdrawn amount or ₹500, whichever is higher |
Changes in Late Payment Fees
PNB has also modified its late payment fee structure according to the outstanding credit card balance.
Under the earlier structure, no late payment fee was charged on outstanding amounts up to ₹1,000, while the maximum charge for balances above ₹10,000 was ₹750.
From November 1, no late payment fee will apply to outstanding amounts up to ₹500. However, the maximum fee for balances exceeding ₹50,000 will increase to ₹1,200.
New Charges on Utility Bill Payments
PNB credit card customers will also face revised charges on utility bill payments. If the total utility payments exceed ₹50,000 during a billing cycle, a charge of 1% will apply, subject to a maximum of ₹2,000 per transaction.
No such charge was applicable under the earlier arrangement. The bank has also revised certain fees related to cheque returns and failed ECS or automatic debit transactions.
IndusInd Bank Introduces Charges for Failed Transactions
IndusInd Bank is introducing new charges for customers holding certain savings accounts from November 1, 2026. The affected account categories include Indus Delite, Indus Digi-start and Indus Online-Minute Balance Required savings accounts.
Under the revised rules, customers will have to pay ₹25 if a point-of-sale (POS) transaction fails because their account does not have sufficient funds.
A failed transaction at an IndusInd Bank ATM due to insufficient account balance will also attract a ₹25 charge.
In addition, the bank will levy a cheque return fee of ₹50 per cheque when it is returned for non-financial reasons. GST will be charged separately on all these fees.
Previously, customers holding these account types were not charged for these three categories of failed transactions.
Disclaimer
This article is intended for general information and financial awareness. The details of banking charges, tax deadlines, pension procedures and GST amendments are based on the information provided and may be subject to further official notifications or revisions. Customers should check the latest announcements on the respective bank and government websites before making financial decisions or completing formalities. Applicable terms and conditions may vary depending on the account type and individual eligibility.