Now a few hours are left for the beginning of the year 2024. There are going to be changes in many rules related to finance in the new year. Government oil companies can also take a decision on the prices of domestic and commercial LPG cylinders in the New Year.
Happy News Year: Now a few hours are left for the beginning of the new year i.e. 2024. There are going to be changes in many rules related to finance in the new year. While changing some rules may increase your problems, you will also get many big gifts. So let us know what is changing from January 1.
LPG cylinder price
From the first day of the new year i.e. January 1, LPG cylinders will be available in Rajasthan for Rs 450. However, only Ujjwala beneficiaries will get its benefit. Let us tell you that BJP had announced this in its election promise, which is now being implemented after forming the government. Apart from this, government oil companies can also take a decision on the prices of domestic and commercial LPG cylinders in the new year.
Increase in interest rate of Sukanya
The government increased the interest rate on Sukanya Samriddhi Yojana by 0.20 percent and the interest rate on three-year fixed deposit scheme by 0.10 percent for the fourth quarter (January-March) of the current financial year. Rates for all other small plans will remain the same. Under Sukanya Samriddhi Yojana, the interest rate on deposits was increased from the existing eight percent to 8.2 percent. The rate on three-year fixed deposits has been increased to 7.1 percent from the existing seven percent.
Decision on dearness allowance
The increase in Dearness Allowance (DA) of central employees is likely to be announced in the month of March. However, this comes into effect only from January 1. It is estimated that the allowance may increase by 4 percent. If the allowance increases even by 4 percent, then the DA of central employees will increase to 50 percent. As soon as the allowance of central employees is 50 percent or more, HRA will be revised.
What will happen in case of default in belated ITR?
The last date for filing income tax return (ITR) with penalty for the financial year 2022-23 is December 31, 2023. For defaulting on this deadline, action can be taken against taxpayers under Section 234F of the Income Tax Act. Under this, there is also a provision for sending someone to jail.
Revise Bank Locker Agreement
According to the Central Reserve Bank, the deadline for signing the revised bank locker agreement is 31 December 2023. If this deadline is missed, the locker will be frozen in the new year. Customers who had submitted the bank locker contract on or before December 31, 2022, will have to sign a revised contract and submit it to the bank branch.
Rules for purchasing SIM card
The rules for purchasing new SIM cards are changing in the new year. Instead of paper-based Know Your Customer (KYC), now paperless KYC process will have to be done. Along with this process, it is mandatory to give details through biometric also.
Inactive UPI ID
Inactive UPI IDs will be closed in the new year. National Payments Corporation of India has asked payment apps (Google Pay, Paytm, Phone Pay) to do so. According to this, if the UPI ID has not been used for more than a year, it will be deactivated.
Vehicles will be expensive
Due to inflationary pressure and rising commodity prices, many big companies have announced to increase car prices. These include Maruti Suzuki, Hyundai, Mercedes and Audi.
Relief found here
Let us tell you that SEBI has extended the deadline for adding nominee, giving relief to demat account holders. SEBI has extended the deadline for adding nominees for demat and mutual fund account holders till June 30 next year.
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