New Year 2024: These important Rules will Change from January 1
There is only one week left for the new year to begin. With the new year starting from January 1, 2024, many financial rules will also change in the country.
New Year 2024: Many new financial rules come into effect on the first of every month. From January 1, 2024, many financial rules in the country will change. All these rules have a direct impact on your pocket. In such a situation, you should know which financial rules are changing from 1 January 2024.
There is only one week left for the new year to begin. With the new year starting from January 1, 2024, many financial rules will also change in the country. Many new financial rules come into effect on the first of every month.
From January 2024, there will be changes in rules related to income tax returns, SIM cards, demat accounts and bank lockers. These rules affect your pocket. Let’s know what new financial rules will be implemented next month.
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SIM Card Rules:
After the new Telecom Bill comes into effect, there will be changes in the rules for mobile SIM cards. Under this rule, the telecom company will now have to get its approval before sending any message to the customer. Further, the government has asked telecom companies to do digital KYC. From January 1, 2024, you will need to verify your details biometrically while picking up a SIM card.
Income Tax Return:
All taxpayers who have not filed ITR for the financial year 2022-23 will have to file ITR by 31 December 2023. You will have to pay the penalty while filing the return by 31 December 2023. If taxpayers do not file returns, action can be taken against them from January 1, 2023.
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Bank Locker:
The Reserve Bank of India (RBI) has ordered the completion of the renewal process of bank account holders by December 31, 2023. During the renewal process, the locker holder needs to sign a new bank locker agreement. The agreement will come into effect from 1 January 2024.
Also Read: Aadhaar Card Registration Not Easy Now: Implemented Strict Rules
Demat Account:
The Securities Regulatory Board of India (SEBI) has fixed 31 December 2023 as the last date for adding nominations for demat account. In such a situation, any account holder who does not add a nominee, may have his account closed from January 1, 2023.
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