Rule Change From 1st January 2024 Many new financial rules have come into effect on the 1st of every month. Many financial rules will change in the country on January 1, 2024. All these rules will have a direct impact on your pocket. In such a situation, you must know which financial rules are changing from January 1, 2024. Read the full news..
Now only 1 week is left for the new year to start. While the new year is starting from January 1, 2024, there will also be changes in many financial rules in the country. Many new financial rules come into effect on the first of every month.
From January 1, 2024, there will be changes in the rules related to Income Tax Return, SIM Card, Demat Account and Bank Locker. These rules will affect your pocket. Come, let us know which new financial rules will come into effect next month.
SIM Card
After the implementation of the new Telecom Bill, there will be changes in the rules of mobile SIM cards. Under this rule, now the telecom company will have to take approval from the customer before sending any message. Apart from this, the government has also asked telecom companies to get digital KYC done. Let us tell you that from January 1, 2024, you will have to verify your details through biometrics while getting a SIM card.
Income tax return
All taxpayers who have not filed ITR in the financial year 2022-23 will have to file ITR by 31 December 2023. You will also have to pay penalty while filing returns by December 31, 2023. If taxpayers do not file returns, action can be taken against them from January 1, 2023.
Bank locker
The Reserve Bank of India (RBI) has ordered to complete the renewal process of bank locker agreements (Bank Account Holders) by December 31, 2023. In the renewal process, the locker holder will have to sign a new bank locker agreement. Let us tell you that this agreement will come into effect from January 1, 2024.
Demat account
The Securities and Exchange Board of India (SEBI) has fixed December 31, 2023 as the last date for adding nomination in the Demat Account. In such a situation, the account holders who do not add the nominee may have their account frozen from January 1, 2023.
