These rules including income tax, PF & FastTsg will change from 1 April

Date:

Share:

April 1st marks the beginning of the new fiscal year in addition to the new month. Many long-standing laws have also been modified as a result. Your income tax, credit card, pension, and retirement plan regulations have all been altered. Your wallet will feel the effects of these regulations. Tell us about the six modifications that happened as of tonight at midnight.

income tax

Regulations about insurance

The insurance industry’s regulations underwent a modification on April 1st. The number of years in which you relinquished the policy will determine the surrender value, according to the new regulations. Insurance companies will only offer electronic insurance policies as of April 1, according to a decision made by insurance regulator IRDAI.

income taxA new income tax regulation

Regarding income tax, there has also been a significant alteration. The new tax regime will take effect as the default tax regime at the start of the new fiscal year. The new tax regime will be the sole one under which the ITR is filed if you have not chosen a tax regime. On the other hand, the deadline for submitting the revised return (ITR-U) for the assessment year 2021–2022 was March 31, 2024.

income tax

Fastag KYC is required.

The National Highways Authority of India (NHAI) states that your Fastag would be useless if the KYC is not updated by March 31, 2024. After midnight today, Fastags lacking KYC were either blocked or canceled. Without KYC, Fastag will be disabled on April 1 and you might have to pay double toll tax.

income tax
The Pension Fund Regulatory and Development Authority (EPFO)

has announced that, as of April 1, significant changes will take place. The new rule states that an employee’s PF account will be automatically transferred to their new company in the event of a job change. Let us inform you that in the past, employees who are PF subscribers were required to request this.

income tax

NPS account’s new regulation

The new NPS regulation went into force at midnight today. The new regulation would include two-factor Aadhaar authentication as an additional security layer. As of April 1, Aadhaar-based authentication is required for NPS accounts. That is to say, after midnight today, to access your NPS account, you will need to provide both your ID and password & the OTP received on the mobile number linked to your Aadhaar. PFRDA has taken this step to make NPS accounts more secure.

income tax

New credit card regulations

The terms about credit cards have changed as of this morning at midnight. SBI Card is implementing a significant modification to the credit card policies, which will take effect at midnight today. The new restriction states that cardholders will no longer receive reward points when using any SBI credit card to pay for travel.

Read More: This bank made loans expensive! EMI to be increased by this much

🔥🔥 Join Our Group For All Information And Update, Also Follow me For Latest Information🔥🔥
🔥 Facebook Page                  Click Here
🔥 Twitter                               Click Here
🔥 Instagram                  Click Here

Subscribe to our magazine

More Like This

HDFC Bank has increased the interest rates on loans once more

Interest rates on HDFC Bank loans: For two brief periods, HDFC Bank raised its Marginal Cost of Funds Based Lending Rates (MCLR) by 5...

SAI Recruitment 2024 with a salary up to Rs 70,000 per month

Sports Authority of India (SAI), an autonomous organization under the Ministry of Youth Affairs and Sports, has released a notification for recruitment to Young...

Mahindra giving discount of upto Rs 3 lakh on these Thar variants

The most well-liked off-road SUV in the nation is the Mahindra Thar. Mahindra is currently selling its famous 3-door Thar for much to Rs...

iQOO 13 smartphone release date has been announced, know features

In a relatively short period, iQOO has established a positive reputation among Indian users. Customers are familiar with iQOO smartphones due to their powerful...

Skoda launched new car Skoda Kylaq, know the features & booking timeline

The Skoda Kylaq will be offered in four different versions, and formal reservations will open on December 2 in preparation for deliveries at the...

LEAVE A REPLY

Please enter your comment!
Please enter your name here