Big changes are going to happen on New Year, will directly affect people’s pockets – Dainik Savera Times
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In such a situation, it is important for you to know about these changes in advance. These changes will directly impact your pocket. These include many things from bank locker to IT returns. Reserve Bank of India has revised the bank locker agreement.
Customers have to decide on this by December 31, if the locker holders fail to do so, the lockers will be frozen. If you have not yet filed your ITRS for the financial year 2022-23, then the last chance is till 31st December. For late filing, a fine of Rs 5,000 will have to be paid.
If the income is less than Rs 5 lakh, this amount will be Rs 1,000. Due to inflationary pressure and rising commodity prices, many automotive majors including Maruti Suzuki, Hyundai, Mercedes and Audi have announced increase in prices of their cars from January 1. That is, if you are thinking of buying a car then this is the time.
Nominee in Demat:
Here is some relief for those investing through online stock trading or mutual funds. SEBI has extended the deadline for demat and mutual fund account holders to update nominee till June 30 next year. Earlier, the deadline to nominate a beneficiary or opt out by submitting a declaration form was December 31, 2023.
Use of UPID:
According to a November order by the National Payments Corporation of India, banks, Google Pay, Paytm etc. will remove the UPID of customers who have not done any transaction through it for a year or more. If this is the case with you too then you can use it till 31st December.
Interest on PPF will increase. There has been no change in the interest rates on PPF since March 2020. General elections are to be held next year, in view of which the government can announce an increase in interest rates. Currently it is 7.1%, although during this period the interest rates of other small savings schemes like Citizens Savings Scheme, National Savings Certificate and Sukanya Samriddhi Yojana have increased.
Digital KYC for new SIM card:
The Telecom Department is going to end paper-based KYC for SIM cards from January 1. That is, after this customers will not need to fill paper forms to buy new SIM cards. To get a new SIM card, the process of digital KYC can be adopted through Aadhaar from January.
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