Key Financial Rule Changes From April 1, 2025: From New Tax Slabs to UPI Deactivation, Check New Financial Rules Coming Into Effect From Next Month

Mumbai, March 31:슬롯 머신 사이트 추천As the new financial year begins on April 1, 2025, a host of significant changes in financial and tax rules will take effect. These updates, introduced in the Union Budget 2025, promise to impact taxpayers, investors, and consumers alike. Among the most notable adjustments are income tax exemptions, changes to UPI account security, and new guidelines for dividend income. Additionally, there are updates in the banking sector and GST regulations aimed at enhancing both convenience and security.

In addition to tax relief for middle-class earners, the changes also address fraud prevention, especially with the introduction of the Positive Pay System for large cheque payments. Other noteworthy revisions include updates in pension schemes and the TCS limits for foreign education funds. As we prepare for these shifts, it슬롯사이트�s crucial for individuals and businesses to stay informed. Let슬롯사이트�s know more about how these changes will unfold and what they mean for you in the new financial year.슬롯 머신 사이트 추천Banks To Remain Open Only 5 Days a Week From April? PIB Fact Check Debunks Fake Reports Going Viral on Social Media.

Key Financial Rule Changes From April 1, 2025:

1. New Income Tax Slabs:슬롯 머신 사이트 추천A major reform in income tax rules will take effect, where there will be no income tax on annual income up to INR 12 lakh. For salaried individuals, a standard deduction of INR 75,000 will be introduced, making total salaries up to INR 12.75 lakh tax-free in the new tax regime. The new tax slabs also include a 25 per cent tax for annual incomes between INR 20 lakh and INR 24 lakh, which will benefit middle and upper-middle-class taxpayers.

2. UPI Deactivation for Inactive Numbers:슬롯 머신 사이트 추천The National Payments Corporation of India (NPCI) has introduced new guidelines for UPI. From April 1, UPI IDs linked to numbers that have been reassigned or are inactive for a long period will be deactivated. Users must update their UPI-linked mobile numbers to avoid disruptions in their payments.슬롯 머신 사이트 추천Banking Rules Changing From April 1, 2025: From Change in Minimum Balance Requirement to Revised Interest Rates, Check New Banking Rules Coming Into Effect From Next Month.
3. No Dividend Without PAN-Aadhaar Link:슬롯 머신 사이트 추천If your PAN and Aadhaar are not linked by March 31, 2025, you will not receive dividend income from April 1, 2025. Additionally, there will be an increase in TDS (Tax Deducted at Source), and no credit will be given in Form 26AS for such individuals.
4. Changes in Credit Card Reward Points:슬롯 머신 사이트 추천Certain credit card holders, like those with the SBI SimplyCLICK or Air India SBI Platinum cards, will see changes in the reward point structure due to new guidelines. Similarly, Axis Bank will revise benefits for its Vistara credit card after the merger of Air India and Vistara.
5. Unified Pension Scheme (UPS) for Government Employees:슬롯 머신 사이트 추천The Unified Pension Scheme (UPS), which will come into effect on April 1, 2025, will provide pension benefits for central government employees who have completed 25 years of service under the National Pension System (NPS). They will receive 50% of their average basic salary from the last 12 months.
6. GST Changes and Multi-factor Authentication (MFA):슬롯 머신 사이트 추천Multi-factor authentication (MFA) will be mandatory for access to the GST portal starting April 1, 2025, which will enhance security. Additionally, e-way bills can only be generated for documents that are not older than 180 days.
7. Hotel Room Tariffs and GST: Hotels with room tariffs over INR 7,500 per day will now be classified as "Specified Premises". Restaurant services provided in such hotels will attract 18 per cent GST but will be eligible for input tax credit.
8. Changes in Bank Account Minimum Balance Rules:슬롯 머신 사이트 추천Several banks, including SBI, PNB, and Canara Bank, have revised their minimum balance requirements for savings accounts. Failure to maintain the minimum balance will result in penalties.
9. Mandatory KYC for Mutual Fund and Demat Accounts:슬롯 머신 사이트 추천From April 1, 2025, it will be mandatory for individuals to complete KYC for mutual fund and demat accounts. The nominee details in these accounts will also be re-verified.
10. Positive Pay System for Check Payments:슬롯 머신 사이트 추천To reduce fraud, the Positive Pay System will be implemented for cheques above INR 50,000. The account holder will need to electronically submit cheque details to the bank for verification before payment.
11. Changes in Priority Sector Lending (PSL):슬롯 머신 사이트 추천From April 1, 2025, home loan borrowers in metro cities will be eligible for loans up to슬롯 머신 사이트 추천 INR 50 lakh under the Priority Sector Lending scheme. The limits will be INR 45 lakh in Tier-2 cities and INR 35 lakh in smaller cities.
12. Increase in TDS Limit for Senior Citizens:슬롯 머신 사이트 추천The TDS (Tax Deducted at Source) limit on interest income for senior citizens will be increased from INR 50,000 to INR 1,00,000 annually, providing more relief to this group.
13. Changes in TCS Rules for Foreign Travel and Investments: The Tax Collection at Source (TCS) limit for foreign travel and investments will be increased from INR 7 lakh to INR 10 lakh. This means that if you make large transactions for foreign education, travel, or investments, the TCS rate will be adjusted accordingly.
14. Capital Gains Tax on ULIPs:슬롯 머신 사이트 추천Premiums above INR 2.5 lakh in Unit-Linked Insurance Plans (ULIPs) will be taxed as capital gains. The tax rates will be: 12.5% for long-term gains (more than 12 months), 20% for short-term gains (less than 12 months).
15. Changes in Custom Duties: Custom duties on certain products will change, impacting their prices. For example, imported cars with engines over 3000 CC, motorcycles above 1600 CC, and life-saving medicines will have reduced duties, while goods like shoes, smart meters, and LCD/LED TVs will face higher duties.
16. Increased Time to File Updated Tax Returns:슬롯 머신 사이트 추천Taxpayers will have 48 months (instead of the previous 24 months) to file updated tax returns. The tax rates for late filing will vary based on the time delay: 60% tax if filed between 24-26 months, 70% tax if filed between 36-48 months.

These financial and tax changes will have a direct impact on individuals, businesses, and digital transactions. From tax relief to stricter compliance measures, the new rules aim to enhance financial security and ease processes. Staying informed and making necessary updates before April 1, 2025, will help avoid any disruptions.

(The above story first appeared on LatestLY on Mar 31, 2025 02:23 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).