New Rules: Today, from July 1, many new rules related to PAN, ITR, railway ticket booking, credit card are being implemented. These will have an impact on your pocket. Therefore, it is important that you complete your work before these changes or be aware of the new charges.
Today, from July 1, many new rules related to PAN, ITR, railway ticket booking, credit card are being implemented. These will have an impact on your pocket. The government and banks say that these rules are to increase security, make digital transactions easier and strengthen legal compliance, but for common people, these can also cause hassle and extra expenses at some places. Therefore, it is important that you complete your work before these changes or be aware of the new charges.
Aadhaar is now mandatory for PAN card
Aadhaar card has become necessary to get a new PAN card from July 1. Earlier, PAN could be made with documents like driving license or birth certificate, but now only Aadhaar will work. Those who already have PAN, but it is not linked to Aadhaar, have time till December 31. If this is not done, the PAN will be deactivated, which will affect everything from paying tax to banking.
Aadhaar’s hold on Tatkal train ticket
Now even the railway’s Tatkal coach will not be available without Aadhaar. Aadhaar verification has been made mandatory to book Tatkal tickets. Also, from July 15, two-factor OTP verification will be applicable in ticket booking both online and at the counter. That is, the OTP received on the registered mobile will have to be entered. Another big news is that the Railways is considering increasing the fare. There may be an increase of 1 paisa per km for non-AC coaches and 2 paisa per km for AC.
Extra time given to file income tax return
Relief news for tax payers. The Income Tax Department has extended the last date for filing ITR from July 31 to September 15. That is, salary earners have now got 46 days extra time to file returns. Tax experts advise to file ITR early to avoid last minute rush and technical difficulties.
Credit card charges increased, facilities changed
Big banks like SBI, HDFC and ICICI are now implementing new rules on your credit card.
- For SBI card holders: The air accident insurance facility available on premium cards like SBI Elite and Miles will now be discontinued. Also, the method of calculating the minimum due amount (MAD) every month will also change.
- New charges of HDFC Bank: Now a charge of 1% will be levied on paying rent, spending more than Rs 10,000 on online gaming, paying utility bills of more than Rs 50,000 excluding insurance and adding Rs 10,000+ in digital wallet at one time (up to a maximum of Rs 4,999).
- ATM withdrawal charges increased: ICICI Bank first 5 withdrawals free at its own ATMs, then a charge of Rs 23. After 3 free transactions in metros and 5 free transactions in non-metros at ATMs of other banks, Rs 23 will be charged on cash withdrawal and Rs 8.50 on balance check.
- Foreign ATM: Rs 125 + 3.5% foreign currency charge on cash withdrawal. IMPS transfer: Rs 2.5 to Rs 15 (depending on amount).
- Cash deposit: First 3 deposits free at cash recycler machine, Rs 150 per transaction thereafter. Deposits above Rs 1 lakh in a month will be charged Rs 150 or Rs 3.5 per Rs 1,000 (whichever is higher).
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