New Rules from 1 April: The month of April is bringing with it a new financial year, in which only a few days are left now. With this new financial year, many rules related to your money are going to change, which will have a direct impact on your pocket. Along with this, UPI transactions of many users will also be stopped. Let’s know what the whole thing is.
These UPI transactions will be stopped
From April 1, NPCI is going to stop UPI transactions of those mobile banks which have been inactive for a long time. If you also want to continue UPI transactions, then use the mobile number linked to your UPI.
You will get more benefit on FD
From April 1, the bank will not deduct TDS on interest up to Rs 1 lakh on FD, RD and other such saving schemes. Earlier this limit for senior citizens was Rs 50000, which has been increased to Rs 1 lakh. Whereas, for other investors this limit has been increased from Rs 40 thousand to Rs 50 thousand.
Changes in interest rates
From April 1, the interest rates of savings accounts and FDs of many banks are going to change. Many banks like SBI, HDFC Bank, Indian Bank, IDBI Bank, Punjab & Sind Bank have changed the interest rates of their FDs and special FDs, which you can check by visiting the bank’s website.
Dividend will be lost if PAN-Aadhaar is not linked
If your PAN-Aadhaar is not linked, then from April 1, you will not get dividend on stocks. Along with this, TDS deduction on capital gains will also increase and no credit will be given in Form 26AS, due to which refund will take more time.
Strict rules for Demat-Mutual Fund Account
SEBI has also tightened the rules for opening mutual fund and demat accounts. According to which, all users will have to re-verify their KYC and nominee details, failing which your account can be frozen. However, it can be re-activated, but there may be a problem if the nominee details are not available.
