10 rules changed from today…Aadhaar, PPF, Income Tax all included
Rules Change: The month of October 2024 has started. Companies selling petroleum products have increased the prices of LPG cylinders. However, they have reduced the prices of ATF, the fuel used in airplanes. Today, from October 1, 2024, the government and banks have made changes in many rules in the country, which will have a direct impact on the pockets and financial health of the common man. There are a total of 10 big rules which have changed from today. Come, let us know about them.
lpg cylinder expensive
Companies selling petroleum products have increased the prices of LPG cylinders from October 1. These companies have increased the prices of commercial cylinders used in hotels and restaurants instead of domestic cylinders. The prices of 19 kg cylinders have been increased from today. In the country’s capital Delhi, the price of cylinder has increased from Rs 1691.50 to Rs 1740 per cylinder. In Mumbai it has been increased from Rs 1644 to Rs 1692.50, in Kolkata from Rs 1802.50 to Rs 1850.50 and in Chennai the price of commercial cylinder has been increased to Rs 1903, which till now was Rs 1855.
ATF price cut
Petroleum companies have increased the prices of ATF, the fuel used in airplanes. ATF prices were reduced in the month of September. Its price in the capital Delhi had decreased from Rs 97,975.72 per kiloliter in August to Rs 93,480.22 per kiloliter. There is relief on the first of October also and it has become cheaper. Now its price in Delhi has come to Rs 87,597.22 per kilolitre. Its direct impact will be visible on airfares.
HDFC Credit Card
The country’s private sector HDFC Bank has changed the rules related to credit cards. The loyalty program for some credit cards of HDFC Bank has been changed. According to this, HDFC Bank has limited the redemption of reward points for Apple products on the SmartBuy platform to one product per calendar quarter.
Sukanya Samriddhi Yojana
A major change has also been made in the rules of the scheme of Sukanya Samriddhi Yojana. Under this, from October 1, 2024, only the legal guardians of daughters will be able to operate these accounts. According to the new rule, if the Sukanya Samriddhi Yojana account of a daughter has been opened by a person who is not her legal guardian, then she will have to transfer this account to her parents or legal guardian. If this is not done then the account may be closed.
Changes in PPF rules in small savings schemes
Three major changes have been made in the PPF scheme under the Small Savings Scheme. On August 21, 2024, guidelines regarding new rules were issued by the Department of Economic Affairs under the Union Finance Ministry. Under this, three new rules of PPF will be implemented. Under this, if you have more than one account, the two accounts will have to be merged into the first account. Two more changes are related to minor accounts and NRI accounts.
Dividend will be taxed
The government has implemented a new rule regarding taxation of share buyback from today. Now shareholders will have to pay tax on buyback income. This will apply to taxation of dividends. With this rule of the government, the tax burden on companies will be transferred to the share of shareholders.
Aadhaar nomination ID stopped in ITR
Additionally, the provision allowing quoting of Aadhaar Enrollment ID instead of Aadhaar number while filing income tax returns has been discontinued from today. The aim of the government behind this is to end the misuse and duplication of PAN. From October 1, 2024, individuals will no longer be able to mention their Aadhaar enrollment ID in the application form for PAN allotment and in their income tax returns. According to the Budget, section 139AA of the Act requires eligible persons to quote Aadhaar number in PAN application form and income tax return with effect from July 1, 2017.
Income tax rules changed from today
Today, from October 1, 2024, there has been a change in the rules related to income tax. In this year’s budget, Finance Minister Nirmala Sitharaman had announced many changes regarding income tax. These mainly include TDS rate, Direct Tax Dispute Se Vishwas Scheme. Under TDS, 10% TDS deduction will be applicable on the floating rate under the bond. At the same time, TDS rate has been reduced for payments under sections 19DA, 194H, 194-IB and 194M. The reduced rates for these streams are now 2% instead of the earlier 5%. Apart from this, Direct Tax Dispute Se Vishwas Scheme 2024 was launched, under which pending tax cases will be settled.
Changes in credit card rules
Punjab National Bank (PNB) has changed the service charges related to some credits applicable for savings accounts. The amendments made by the bank include maintaining minimum in accounts, issuing demand drafts, making copies of demand drafts, checks (including ECS), withdrawal costs and locker rent charges. The new charges have come into effect from October 1, 2024. At the same time, according to the ICICI Bank website, from October 01, 2024, you can enjoy two complimentary airport lounge access by spending Rs 10,000 in the previous calendar quarter.
Read this also: Before Navratri, there was a break on the nine-day rise of gold, silver became cheaper, know the latest rate.
Security rate will increase on future and option
The security transaction rate applicable to futures and options trade will increase from October 1. The security transaction rate on sale of options will increase from 0.0625% of the premium to 0.1%. At the same time, on selling futures, this rate will increase from 0.0125% to 0.02% of the trade price.
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