1 November Rules Change: These 6 big financial and everyday rules are changing from 1 November

Now only a few hours are left for the eleventh month of the year to begin. like the first day of every month November 1st Many important financial, regulatory and administrative rules are going to change across the country. These changes will have a direct impact on the kitchen budget of common housewives, monthly pension of elderly pensioners, tax compliance of businessmen, train ticket booking and banking transactions. It is important to understand all these 6 major changes in advance to avoid any kind of financial inconvenience or penalty.

On the 1st of every month, government oil marketing companies (IOCL, BPCL, HPCL) review the prices of LPG cylinders:

• Commercial and Domestic Cylinders: New rates for 19 kg commercial gas cylinder and 14.2 kg domestic LPG cylinder will be released on the morning of November 1. Due to the movement of crude oil at the international level, there is a possibility of revision in the prices of commercial cylinders.

• Biometric Verification for Subsidy: Biometric authentication and e-KYC will remain mandatory for subsidized domestic gas cylinders (especially the Pradhan Mantri Ujjwala Yojana). Subsidy amount of consumers without verification may be stopped. Also, the rule of mandatory gap of 25 days between two refill bookings will also remain in effect.

A big campaign is starting from November 1 to continue pension for retired employees of Central and State Government:

• Pensioners below 80 years of age: Window for submission of Annual Life Certificate (Digital Jeevan Pramaan) for general pensioners below 80 years of age November 1st Will open from, the last date of which 30 November is defined.

• Danger of stoppage of pension: If the life certificate is not submitted by November 30, the payment of monthly pension will be temporarily stopped from December. Pensioners can submit it through bank branch, post office postman (Doorstep Banking) or online from home through ‘Jeevan Pramaan Face App’.

The Income Tax Department has given a big relief for corporate and taxpayers coming under the ambit of audit:

• New Last Date: By extending the predetermined deadline for filing Income Tax Return (ITR) for the assessment year (AY 2026-27) for taxpayers, companies or partner firms whose accounts are mandatory to be audited. 21 November Has been done.

• Relief from late fees: This extension has given additional time to chartered accountants and practitioners to upload financial statements and tax audit reports on the portal without penalty.

Under the historic change announced by Indian Railways, the rules of ticket booking in trains have completely changed from November 1:

• 60 days instead of 120 days: Now the maximum limit from the date of journey in general passenger trains 60 days in advance (Advance Reservation Period – ARP) Will be able to book tickets only. Earlier this period was 120 days (about 4 months).

• Curb on brokerage: The aim of the Railway Board is to prevent fake or bulk booking and black marketing by ticket agents so that genuine passengers can get confirmed seats. However, till October 31, tickets already booked under the old rule of 120 days will remain completely valid. The 365-day special quota for foreign tourists will remain the same.

Relief is being given under Ease of Doing Business in the Goods and Services Tax (GST) rules for traders and Micro, Small and Medium Enterprises (MSMEs):

• Simplification in post-sale discount rules: Clear guidelines to resolve disputes over tax invoices and input tax credit (ITC) adjustments on post-sale discounts are coming into effect from November 1.

• Faster Refund in Inverted Duty Structure: In industries where the GST rate on raw materials (input) is higher than that on finished goods (output), a system of speedy issuance of provisional refunds will be started to clear the stranded working capital.

Stricter standards regarding financial transactions and banking security are also coming into effect from the beginning of November:

• Charges on Credit Card Utility Payments: Many major banks (like SBI Card, ICICI Bank and HDFC) are imposing an additional charge of 1% on crossing the monthly limit (usually ₹50,000) on electricity, water or gas bill payments (utility transactions) through third-party apps like Cred, PhonePe or MobiKwik.

• Message Traceability and OTP Security: Traceability of all promotional and service SMS sent by banks and financial institutions is being ensured under the strict instructions of the Telecom Regulatory Authority of India (TRAI). Bulk SMS from telecom senders whose mapping is incomplete may be blocked, due to which banks have asked customers to keep their registered numbers active on time.