April 1: These 10 important rules change from tomorrow

April 1: From April 1, you will see some major changes in financial and income tax rules. Most of these changes have been announced in the last two months. April 1: These 10 important rules change from tomorrow.

Finance Minister Nirmala Sitharaman announced several changes related to income tax in the latest budget, which will come into effect from April 1, 2025. Key financial and tax changes include income tax exemption on annual income up to Rs 12 lakh, deactivation of UPI for mobile numbers not used for a long time, and no dividend if PAN-Aadhaar is not linked.

These 10 important rules change from tomorrow:

1. New income tax rule:

Union Finance Minister Nirmala Sitharaman announced new tax rates and slabs in the 2025 Budget, which will come into effect from April 1. Under this, there will be no income tax on income up to Rs 12 lakh per annum. In the new tax regime, there is a standard deduction of Rs 75,000 for salaried individuals, while salaries up to Rs 12.75 lakh will be tax-free.

2. Changes in UPI rules:

The National Payments Corporation of India (NPCI) has issued new guidelines to make UPI more secure. From April 1, UPI IDs linked to reassigned numbers will be deactivated. If your mobile number is linked to UPI and you have not been using it for a long time, update it before April 1, otherwise, you will not be able to access your UPI account linked with the number.

3. Changes in credit card reward points:

Reward points rules are about to change for some credit card users. SBI SimplyCLICK and Air India SBI Platinum Credit Card holders will see changes under the new rewards structure. Apart from this, Axis Bank will also revise the benefits of Vistara Credit Card due to the merger of Air India and Vistara.

4. Unified Pension Scheme (UPS):

The Unified Pension Scheme (UPS), launched by the government in August 2024, will come into effect from April 1. This comes as an option for central government employees who already come under NPS (National Pension System). Under this, government employees with 25 years or more of service will receive 50% of the average basic salary of the last 12 months as pension.

5. Changes in GST rules:

Multi-factor authentication (MFA) will be made mandatory on the GST portal from April 1, further strengthening security. Moreover, now e-way bills can be generated only on documents that are not older than 180 days.

6. Hotel room tariff and GST:

Now, hotels with room rates above Rs 7,500 per day in any financial year will be considered as ‘specified premises’. Restaurant services provided in such hotels attract 18% GST, but get the benefit of input tax credit.

7. Bank account minimum balance rules:

SBI, Punjab National Bank, Canara Bank and other large banks have updated the minimum balance requirements. If you do not maintain a minimum balance in your bank account, you will be fined from April 1.

8. Dividend will not be received if PAN-Aadhaar is not linked:

If you do not link your PAN and Aadhaar by March 31, you will not get dividend income from April 1. Moreover, TDS will also increase and no credit will be given in Form 26AS.

9. Mutual fund and demat KYC mandatory:

KYC will be mandatory for mutual fund and demat accounts from April 1, 2025. Under this, all nominee details will be re-verified.

10. Positive pay system for check clearance:

A positive pay system will be implemented to prevent bank fraud. Now, for cheque payments above Rs 50,000, the account holder will have to provide the details of the cheque to the bank in electronic form, which the bank will verify before making the payment.

Also Read: April 1: These employees get salary hike from next month