Next month, there is going to be a change in the rules related to banking, advance train ticket booking and credit card. It is important to know about these changes (Rule Change From 1st November) to be implemented from 1st November.

Let us know which rules are changing and how it can have a direct impact on your pocket.

TRAI’s new rules will be implemented, spam calls and messages will be controlled!

A big change is going to come in the telecom sector from November 1. The government has directed telecom companies like Jio and Airtel to implement message tracking to prevent spam. Under this, all telecom companies like Jio and Airtel will have to implement rules for tracking and blocking spam messages. Under the message traceability rule, telecom companies will identify suspicious or fake numbers and block them immediately, so that these numbers will not be able to deliver messages to users and users will get better security.

Advance ticket booking will be possible only 60 days in advance

The rules for booking train tickets are going to change from November 1. Now you will be able to book train tickets only 60 days in advance, not 120 days in advance as before. Indian Railways has made these changes in the rules for advance ticket booking to make the ticket booking process easier for passengers.

Banks will remain closed for a total of 13 days in November

There are a lot of holidays in banks (Bank Holidays 2024) due to festivals and public holidays in the month of November. According to the information given on the official website of the Reserve Bank of India (RBI), banks will remain closed for 13 days in November due to weekly holidays and festivals in different states (November Bank Holidays). However, even during these holidays (Bank Holidays In November 2024), you can use the online services of the bank. These services will be available 24 hours a day, so that you can do your important banking work and transactions without any interruption.

RBI changed the rules for money transfer

The Reserve Bank of India (RBI) has issued new rules for Domestic Money Transfer (DMT), which will come into effect from November 1, 2024. The aim of the new RBI money transfer rules is to prevent misuse of banking channels for fraud. “There has been a significant increase in the availability of banking outlets, development in payment systems for fund transfer, and ease in meeting KYC requirements. Now users have many digital options for money transfer. Recently, various services convenient in the existing framework were reviewed,” RBI said in a circular issued on July 24, 2024.

There may be a change in the prices of LPG, CNG, and PNG

At the beginning of every month, oil companies change the prices of LPG gas. On November 1, the prices of 14 kg domestic gas cylinder may also change. Recently, the prices of domestic gas cylinders have remained stable. But, the prices of commercial cylinders are increasing. Apart from this, oil companies also change the prices of ATF (Air Turbine Fuel), CNG and PNG at the beginning of every month. ATF prices have come down in recent months, and this time Diwali is expected to reduce further. There may also be a change in the prices of CNG and PNG.

Strict rules apply in mutual funds

The Securities and Exchange Board of India (SEBI) is going to implement strict rules for mutual funds. From November 1, AMCs (Asset Management Companies) will have to give information about transactions of more than Rs 15 lakh by their nominees or relatives to the compliance officer. This rule will increase transparency in mutual funds and will help in preventing transactions based on insider information.

New rules for SBI credit card users

SBI Card, a subsidiary of State Bank of India, is going to implement some new rules (SBI Credit Card Rules) for credit card users. From November 1, the monthly finance charge on unsecured SBI credit cards will be 3.75%. Apart from this, a 1% fee will be charged on payments of more than Rs 50,000 for utilities like electricity and gas.

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The post New Rules 2024: These major changes will take place across the country from November 1, Know the new rules first appeared on Rightsofemployees.com.

Rule Change From 1st October: New month, new rules! The month of October is going to bring many important changes for you. Many new rules are going to be implemented in this month which can directly affect your daily life. These include changes in the rules for LPG, bank holidays and mobile users. Apart from this, Union Finance Minister Nirmala Sitharaman had announced changes in many rules related to income tax in the Union Budget 2024. Some of these changes have already been implemented, while some are going to be implemented from October 1, 2024.

These changes include Aadhar Card, STT, TDS Rate and Direct Tax Dispute to Vishwas Scheme 2024. Here we are going to tell you about all the new rules which are going to be implemented from October 1.

1. New prices of LPG cylinders will be released (LPG Prices)

Government oil companies change the prices of LPG cylinders on the first of every month. Therefore, you can see the change in cylinder prices on the morning of October 1, 2024. New prices are usually released at 6 am. Recently, the prices of 19 kg commercial gas cylinders have been fluctuating, but the prices of 14 kg domestic cylinders have been stable for some time.

2. TRAI will implement new rules for mobile users

TRAI (Telecom Regulatory Authority of India) is going to implement new rules from October 1, which will benefit mobile users. Now users will be able to get information about the network available in their area and spam calls will be reduced. TRAI has instructed telecom companies Jio, Airtel, Vodafone and BSNL to make a list of spam calls and send only secure URL or OTP link in the message. These steps will help prevent online fraud and scams. Earlier these rules were to be implemented from September 1, but it was extended by one month by TRAI.

3. 15 days bank holidays in October (October Bank Holiday)

According to the information given on the official website of the Reserve Bank of India (RBI), there will be a total of 15 bank holidays in October (Bank Holidays in October 2024). This includes Gandhi Jayanti and Durga Puja as well as weekly holidays in banks. Let us tell you that there are bank holidays on two Saturdays and four Sundays in this month.

4. These accounts linked to Sukanya Samriddhi Yojana will be closed!

New rules regarding investment in Sukanya Samriddhi Yojana are going to be implemented from October 1. According to the new rules, such accounts which are not opened by the girl’s parents or legal guardian, will now have to be compulsorily transferred to the name of the parents or their legal guardian as per the new guidelines. According to the new rules. Only legal guardians or natural parents can open and close accounts under Sukanya Samriddhi scheme. Under this, if more than two accounts are opened, then other additional accounts (Sukanya Samriddhi account) will be closed.

5. Securities transaction tax

Securities transaction tax on futures and options (F&O) trading has been increased by 0.02 per cent and 0.1 per cent respectively. Apart from this, income from share buyback will be taxed according to the taxable income of the beneficiary. This change will be implemented from October 1, 2024. Pay special attention to the fact that STT is levied on both purchase and sale of various securities including equity shares, futures and options. The government’s objective behind this change is to reduce speculative activity in the rapidly growing derivatives market.

6. There will be a change in the rules related to PAN-Aadhaar (Aadhaar and PAN Card)

The Union Budget 2024 proposes to remove the provision that allows mentioning of Aadhaar enrolment ID instead of Aadhaar number. The purpose of this rule is to prevent misuse and duplication of PAN. From October 1, 2024, no one will be able to mention their Aadhaar enrolment ID in the application form for PAN allotment and in their income tax returns.

7. Tax on buy-back of shares

From October 1, shareholder level tax will be applicable on buyback of shares just like dividend. Apart from this, the acquisition costs of these shares will be taken into account while calculating any capital gain or loss. This change will increase the tax burden on shareholders who choose the buyback option, because now direct tax will be levied on capital gains.

8. Tax will be levied on floating rate bonds (Floating rate bonds TDS)

It was announced in Budget 2024 that TDS will be deducted at the rate of 10% from certain specific bonds of the central and state government including floating rate bonds from October 1, 2024. However, no TDS will be deducted if the income in a year is less than Rs 10 thousand.

9. TDS rate changes

TDS rates have been reduced for payments under sections 19DA, 194H, 194-IB and 194M. Now the TDS rate for these sections has been reduced from 5% to 2%. At the same time, the TDS rate for e-commerce operators has been reduced from 1% to 0.1%.

• Section 194DA – Payment for life insurance policy
• Section 194G – Commission on sale of lottery tickets
• Section 194H – Commission or brokerage
• Section 194-IB – Payment of rent by certain individuals or HUF
• Section 194M- Payment of certain sums by certain individuals or HUF
• Section 194F – Section 194F, which focuses on repurchase of mutual fund units or UTI-related payments, is proposed to be removed from October 1, 2024.

10. Direct Tax Dispute Se Vishwas Scheme (Direct Tax Dispute Se Vishwas Scheme 2024)

The Central Board of Direct Taxes (CBDT) has announced the Direct Tax Vivaad se Vishwas Scheme, 2024 (also known as DTVSV, 2024) for settlement of pending appeals in income tax dispute cases. This scheme will be implemented from October 1, 2024.

The post New Rules 2024: These 10 big changes will happen across the country from October 1, know the new rules first appeared on Rightsofemployees.com.

These include the deadline for updating free Aadhaar to investing money in special FD scheme and credit card rules. All these changes will have a direct impact on the pocket of the common man. Let us know about these changes whose deadlines you need to remember.

Here we know about some such big changes (New Rules From 1st August 2024) which can prove to have a direct impact on your kitchen and your pocket.

Deadline for updating Aadhaar for free (Aadhaar Update Deadline)

UIDAI (Unique Identification Authority of India) has extended the facility of updating all Aadhaar related details for free (Update Aadhaar Card Online for Free) by three months i.e. from June 14 to September 14, 2024. If you also want to take advantage of this free service, then update your Aadhaar online (Aadhaar Card Update online) by September 14, 2024. Otherwise you will have to pay a fee for this later.

Please note that the facility of free Aadhaar update is available only for online update. If you go to the Aadhaar Seva Kendra and get any update done in Aadhaar, you will have to pay the applicable fee.

Gas Cylinder Price (LPG Price)

It is usually seen that the government changes the price of LPG on the first of every month. Changes are seen every month in the prices of commercial gas cylinders and cooking gas. In such a situation, consumers should be prepared for possible changes in the prices of LPG cylinders in September as well. In the month of August, the price of commercial LPG gas cylinders increased by Rs 8.50, while in July its price decreased by Rs 30.

Change in rates of ATF and CNG-PNG

The prices of aviation turbine fuel (ATF) and CNG-PNG are also expected to change from September 1, 2024. These changes may impact transportation costs, especially for air travel, and may impact goods and services due to increased logistics costs.

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Stop fake calls

To curb the increasing number of fake calls and spam messages, the Telecom Regulatory Authority of India (TRAI) is introducing new rules from September 1, 2024. TRAI has issued a strict guideline for telecom companies. TRAI has asked telecom companies to shift telemarketing calls and commercial messaging starting with 140 mobile number series to blockchain based DLT i.e. Distributed Laser Technology Platform by September 30.

Telemarketing services will gradually shift to a blockchain-based system by September 30. This will increase security and reduce unwanted calls and messages. This move is a major step against telecom fraud, which will provide consumers more protection against scams.

New Credit Card Rule

Credit card rules are also going to change in the month of September, especially in terms of reward points and payment schedule. HDFC Bank will impose a limit on reward points on utility transactions, which means that card holders can earn fewer reward points when paying for services like electricity or water.

In addition, IDFC First Bank is updating its payment schedules, which may impact when and how payments are processed. It is therefore important for credit card users to keep an eye on these changes to avoid losing reward points or facing any fees.

Increase in Dearness Allowance (DA Hike)

Central government employees may see a 3% increase in Dearness Allowance (DA) this September. Currently, government employees are being given 50% Dearness Allowance (DA). That means from next month it may increase from 50% to 53%.

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