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 getting PAN card
From July 1, Aadhaar card has become mandatory for making a new PAN card. Earlier, documents like driving license or birth certificate could also be used for making PAN, but now only Aadhaar will be accepted. Those who already have PAN but it is not linked to Aadhaar have time till December 31. If this is not done then the PAN will become inactive, which will affect every work from paying tax to banking.
Aadhaar hold on Tatkal train tickets
Now, even the Tatkal coach of the railways will not be available without Aadhaar. Aadhaar verification has been made mandatory for booking 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 31 July to 15 September. This means that salaried people have now got 46 days extra time to file their 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 imposing 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 outstanding amount (MAD) every month will also change.
HDFC Bank’s new charges: 1% charge will now be levied on paying rent, spending more than Rs 10,000 on online gaming, paying utility bills above Rs 50,000 excluding insurance, and adding Rs 10,000+ in one go to digital wallet (up to a maximum of Rs 4,999).
ATM withdrawal charges hike: First 5 withdrawals are free at ICICI Bank’s own ATMs, then a charge of Rs 23. After 3 free transactions in metros and 5 free transactions in non-metros, Rs 23 will be charged for cash withdrawal and Rs 8.50 for balance check at other bank’s ATMs.
Foreign ATM: Rs 125 + 3.5% foreign currency charge on cash withdrawal. IMPS transfer: Rs 2.5 to Rs 15 (depending on the amount).
Cash deposit: First 3 deposits at cash recycler machine are free, thereafter Rs 150 per transaction. 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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