Financial Rules Changing from 1 April 2024 From today, along with the month of April, the new financial year has also started. Many financial rules have changed on the first day of April. These rules have a direct impact on the pockets of the general public. In this article, let us know which financial rules have changed from today.
The fourth month of 2024, April (April 2024), has started from today. The new financial year also starts from April itself. This means that the financial year 2024-25 (FY25) hasRules Change From 1 April 2024: Rules related to LPG cylinder and tax have changed from today, check the list here started from today.
Many financial rules change at the beginning of every month. Even today many financial rules have changed. These rules have a direct impact on the general public.
Changes in these rules
PF Account Transfer: Whenever we changed jobs, we had to transfer our PF account also, but from today there have been changes in the rules for PF account transfer. Employees’ Provident Fund Organization (EPFO) said that from April 2024, PF account will be transferred automatically. This means that now the user will not have to request for account transfer.
Tax Regime: If you had not selected the tax regime by March 31, 2024, then let us tell you that the New Tax Regime has become the default regime from April 1, 2024. This means that taxpayers who have not selected the tax regime will now automatically file ITR under the new tax regime.
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Fastag KYC: Those Fastag users who have not yet done Fastag KYC, their Fastag has become inactive from today. This means that he will not be able to pay toll tax through Fastag.
Actually, NHAI had made Fastag KYC mandatory. The deadline for Fastag KYC was fixed as 31 March 2024.
NPS Account Log-in Process: From today the log-in process of NPS Account is different. PFRDA has made Aadhaar-Based Authentication mandatory for login. This means that now the user will have to enter the OTP received on the mobile number linked to Aadhaar along with the ID password.
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LPG Cylinder Price: Oil companies have updated the prices of LPG Cylinder today. Before the elections, a reduction of Rs 32 has been announced in the price of commercial LPG cylinder.
From today, the price of 19 kg commercial LPG cylinder in the capital Delhi became Rs 1764.50. At the same time, its price has become Rs 1,879 in Kolkata, Rs 1717.50 in Mumbai and Rs 1,930.00 in Chennai. Let us tell you that there has been no change in the price of domestic cylinder.
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SBI Credit Card Maintenance Charges: The maintenance charges of State Bank of India (SBI) credit cards have increased from today. At the same time, reward points on rent payment on the card have also stopped from today. This means that now if users make rent payment through credit card, they will not get any reward points.
Change in the rules of insurance surrender: From today, changes have been seen in the insurance sector also. Now the value received on policy surrender will depend on how many years the user is requesting for policy surrender.
Increase in prices of medicines: Some medicines have also become expensive from today. Drug price regulator National List of Essential Medicines (NLEM) has announced increase in the prices of many medicines.
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PAN-Aadhaar Link: Those users who have not linked PAN Card with Aadhar Card till 31st March, their PAN card has become in-active from today. Now to activate PAN card, it will have to be linked to Aadhar card. For this a penalty of Rs 1,000 will have to be paid.
Cars have become expensive: If you are thinking of buying a car, then let us tell you that from today some vehicles of Kia Motors and Toyota have become expensive. The company had told last month itself that the prices of vehicles will increase from April 1, 2024. The company had taken this decision due to increasing supply chain cost.
