Financial Rules Changed: With the beginning of October, there are many important financial rules which have changed. We are telling you about those changes which will have a direct impact on your pocket.
Financial Rules Changed From 1 Oct 2023: The month of October is going to start from today. With the beginning of the new month, there have been changes in many financial rules which will impact the pockets of common people. This includes many changes ranging from credit and debit rules to commercial gas cylinder prices, TCS rules etc. Know which financial rules have changed from October 1, 2023.
1. Commercial gas cylinders become expensive
With the beginning of the new month, common people have received a shock. Oil companies have made commercial gas cylinders costlier by Rs 209 from October 1. In the capital Delhi, a 19 kg gas cylinder will now become costlier by Rs 209 and will be sold for Rs 1731.50. Commercial gas cylinder is being sold for Rs 1,695 in Chennai, Rs 1,684 in Mumbai and Rs 1636.00 in Kolkata.
2. Increase in the price of ATF
Before the beginning of the festive season, oil marketing companies have increased the price of aviation fuel. In the capital Delhi, ATF is being sold costlier by 5.50 percent to Rs 1,18,199.17 per kilolitre. After this decision, common people may get the shock of expensive air fares before the festive season.
3. Natural gas prices increased
The government has issued a notification on September 30 informing that the prices of domestic natural gas have also increased from today. After this increase, the price of domestic natural gas has increased from $8.60/MMBTU to $9.20/mBtu. After this increase, the cost of sectors like power sector, steel, petrochemical and fertilizer may increase.
4. Change in credit and debit card rules
There have been major changes in the rules of credit and debit cards from today. From October 1, the Reserve Bank has given the facility to the customers that they can choose the network provider of their card. Earlier this could be chosen only by the card issuing bank or company, but from today customers will also get this freedom. You can choose the network provider at the time of card issuance or even after that.
5. Change in TCS rules
If you travel abroad or invest in foreign stocks, mutual funds, foreign cryptocurrencies, then there is shocking news for you. Except for education and medical expenses, you will now have to pay TCS up to 20 percent on all international remittances of more than Rs 7 lakh. This rule has come into effect from October 1.
6. Without Aadhaar, you will not be able to invest in small savings scheme.
From today, Aadhaar has become mandatory for investing in small savings scheme. It has become necessary to enter Aadhaar information in small savings schemes like PPF, Sukanya Samriddhi Yojana, Senior Citizen Saving Scheme etc. Failing to do so, such account will be frozen from today and will be reactivated only after entering the Aadhaar information. In such a situation, till then you will not be able to get the benefit of interest rate and investment on the freeze account.
7. Increased utility of birth certificate
From today onwards the usefulness of birth certificate has increased a lot. From October 1, only one document, birth certificate, will be required for the child’s admission in school, college, making Aadhaar, getting a government job, driving license etc.
