Many important changes are going to take place in personal finance space in the month of September. A few major deadlines are coming up in the month of September. The deadlines for many important financial transactions from exchange or deposit of Rs 2,000 notes, submission of Aadhaar numbers for small saving schemes to updating nominee for demat accounts will come up in September.  Even the deadline related to free Aadhaar updates also falls next month.  

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The deadlines have already been extended and will tentatively end by September. Among all the changes that are expected next month, let's check out the five major ones that must be considered.

Major deadlines for financial updates in September

Last date to exchange/deposit Rs 2,000 note: In line with the Reserve Bank of India's notification following the withdrawal of Rs 2,000 notes from circulation, the last date to deposit or exchange the existing notes is September 30, 2023. The facility for exchanging the notes will be provided to everyone by all banks through their branches. It was in May this year when the central bank announced the withdrawal of Rs 2,000 notes from circulation, further giving a four-month period to the public to either deposit or exchange the withdrawn notes at their respective banks.

Submission of Aadhaar for small savings schemes: As per the Finance Ministry's notification, the six-month period to submit Aadhaar number for updating KYC details in small saving schemes like PPF, Sukanya Samriddhi Yojana (SSY), and National Savings Certificate will end on September 30, 2023. The accounts will be frozen from October 1 if subscribers fail to furnish their Aadhaar details.

Free Aadhaar update: The deadline to update Aadhar card details for free was extended by the Unique Identification Authority of India (UIDAI) till September 14, 2023. Following this, revalidating the credentials from September 15 will be chargeable.

Demat nomination: The last date to update nominee details for demat account and trading accounts has been extended till September 30, 2023. As per the Securities and Exchange Board of India (Sebi), those who want to submit nomination details or want to opt out of it can do so within the stipulated date.

Second instalment of advance tax: The last date to pay the second instalment of advance tax for the financial year 2022-23 is September 15, 2023. Notably, one has to pay 45 per cent of the total tax liability by this date. Advance tax is basically paid in advance towards income tax instead of paying in lump sum at the end of the year.