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The new financial year has started today i.e. from 1st April. There have been many changes in the rules from April 1, which will have a big impact on your pocket. From today, the impact on LPG rates and vehicle prices will also be visible. Because, most of the new tax rules announced in the budget by Finance Minister Nirmala Sitharaman also come into effect on this day. Let us know what is changing from today…
LPG cylinder becomes cheaper
From today the price of commercial LPG cylinder has reduced by Rs 32. In Delhi it has become cheaper by Rs 30.50 to Rs 1764.50. It became cheaper by Rs 32 in Kolkata
Rs 1879.00 and in Mumbai it has decreased by Rs 31.50 to Rs 1717.50. In Chennai it has become cheaper by Rs 30.50 to Rs 1930.00. There has been no change in the prices of domestic cylinders.
EPFO's new rule
The Employees' Provident Fund Organization has implemented an automatic transfer system for your fund balance. You no longer have to request manual fund transfers when you start a new job. EPFO will automatically credit your PF balance to your new employer's account.
new tax system
The new tax system will become the default option in India from April 1, 2024. This means that unless you choose the old tax regime, your tax will be calculated automatically under the new rules.
The tax brackets for the new system will remain the same for financial year 2024-25 (tax year 2025-26). No changes were announced in the recent budget. If your annual income is Rs 7 lakh or less, then under the new system you will not have to pay any income tax.
NPS: Two Factor Authentication
From today, April 1, PFRDA will implement an additional safeguard for the National Pension System. The system includes two factor Aadhaar based authentication to access the CRA system through password.
No facility to exchange Rs 2000 notes on April 1
Due to the work related to annual accounting in banks, the facility to exchange or deposit Rs 2000 bank notes will not be available on Monday, April 1, 2024. Next day on Tuesday, this facility will be restored in 19 regional offices of the Central Bank.
Selected Toyota vehicles became expensive
From today, some selected vehicles of Toyota Kirloskar Motor have become expensive. TKM had announced to increase the prices of its select vehicles by one per cent from April 1 due to increase in production costs and operating expenses. The company said it plans to increase prices of some grades of its specific models from April 1.
No subsidy on e-vehicles
The government will not extend the FAME-2 scheme launched to promote electric vehicles beyond March 31. The Ministry of Heavy Industries gave this information on Wednesday while denying the news of extension of the duration of the scheme. The government has made it clear that there will be no subsidy on e-vehicles after March 31.
Kia cars are expensive
Automobile company Kia India's vehicles have become costlier by three percent from today i.e. April 1, 2024. The company sells Kia Seltos, Sonet and Carens models. The company has decided to increase the prices of its vehicles for the first time this year. The company has so far sold 11.6 lakh vehicles in India and foreign markets.
Six rules combined into one unified framework
Insurance Regulatory and Development Authority of India (IRDAI) has notified various regulations. This also includes charges associated with returning or surrendering the insurance policy. In this, insurance companies have to disclose such charges in advance. IRDAI says that if one keeps the policy for a longer period, the surrender value will be higher.
Selected Toyota vehicles became expensive
From today, some selected vehicles of Toyota Kirloskar Motor have become expensive. TKM had announced to increase the prices of its select vehicles by one per cent from April 1 due to increase in production costs and operating expenses. The company said it plans to increase prices of some grades of its specific models from April 1.
No subsidy on e-vehicles
The government will not extend the FAME-2 scheme launched to promote electric vehicles beyond March 31. The Ministry of Heavy Industries gave this information on Wednesday while denying the news of extension of the duration of the scheme. The government has made it clear that there will be no subsidy on e-vehicles after March 31.
Kia cars are expensive
Automobile company Kia India's vehicles have become costlier by three percent from today i.e. April 1, 2024. The company sells Kia Seltos, Sonet and Carens models. The company has decided to increase the prices of its vehicles for the first time this year. The company has so far sold 11.6 lakh vehicles in India and foreign markets.
Six rules combined into one unified framework
Insurance Regulatory and Development Authority of India (IRDAI) has notified various regulations. This also includes charges associated with returning or surrendering the insurance policy. In this, insurance companies have to disclose such charges in advance. IRDAI says that if one keeps the policy for a longer period, the surrender value will be higher.