New Year 2024: UPI accounts to ITR, these 5 Important Rules Change From Today
On the first day of the new year, the existing process of paper-based Know Your Customer (KYC) process will be replaced by paperless KYC.
New Year 2024: On the first day of every month, some new rules come into force. As these have a direct impact on the daily life of a common person, it is important to know what rules are formed on the first day of the month. These important Rules change from today night.
Here are some of the New rules starting January 1, 2024:
Paperless KYC for sim cards: On the first day of the new year, the existing process of paper-based Know Your Customer (KYC) process will be replaced by paperless KYC. However, the rules for new mobile connections remain unchanged.
Gas cylinders: In Rajasthan, LPG cylinders under the Pradhan Mantri Ujwala Yojana (PMUY) will be available for Rs 450, down from the current rate of Rs 500.
Also Read: New Year 2024 School Holiday List Announced: Check Complete List
To close inactive UPI accounts: National Payments Corporation (NPCI) has directed payment apps to deactivate UPI IDs that have been inactive for more than one year from December 31.
Bank locker agreement: People with bank lockers must sign the revised bank locker agreement by December 31, failing which, their lockers will be frozen from the next day.
Also Read: Indian Postal Department New Scheme: If You Do This, You Will Get Rs 35 Lakh
Income Tax Returns: December 31 is the last date for late and revised ITRs (July 31 is the last date for regular ITRs). Taxpayers who file late returns have to pay a maximum penalty of Rs 5000, while the process is free for those who file revised returns.
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