New Rules from January 2024: With the beginning of January 2024, many rules are going to come into effect, about which you should know. Let us find out.
New Rules from January 2024: The new year brings with itself new feelings. But along with this, there will also be some new changes, which will not only affect our pockets, many rules etc. will also change. With the beginning of January 2024, many rules are going to come into effect, about which you should be aware. This includes rules related to SIM card to insurance. Let us find out.
1. Rules related to SIM card
The way of buying and keeping SIM cards is going to change. The new telecom bill has become law. To control online fraud, the government is bringing rules on sale and purchase of SIM cards. Now digital KYC will be mandatory for purchasing SIM card. Telecom companies will now make it mandatory for all customers purchasing SIM to provide biometric data. Those possessing fake SIM cards may have to face imprisonment of up to 3 years and a fine of up to Rs 50 lakh. There is a new rule for SIM sellers that now they will have to go through verification for this. Also, now bulk distribution of SIM cards will also not be allowed.
2. Rules related to bank locker
Customers having lockers in banks have the option to deposit the amount by signing the revised bank locker agreement by 31st December. Even after this, if they do not do so, their locker will be frozen from January 1.
3. Insurance Policy
Insurance regulator IRDAI (Insurance Regulatory and Development Authority of India) has instructed all the insurance companies to provide customer information sheet to the insurance customers from January 1, in which all the important information related to insurance should be explained to them in simple words.
4. Insurance Initiative
Insurance Trinity Project will be launched. This includes Insurance Sugam, Insurance Extension and Insurance Carrier products, through which the government wants to achieve different goals. From making it easier to purchase a product or service through Bima Sugam, to providing affordable insurance protection through insurance expansion, the aim is to work on women empowerment through insurance carriers. These three products can be launched in January or any time in the new year.
5. Income Tax Return
Taxpayers who had not filed income tax returns for the financial year 2022-23 (AY-2023-24) will not be able to file their belated returns from January 1. Also, taxpayers whose returns have errors will also not be able to file their revised returns.
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