Rule Change From 1st April: The month of April has started and many big changes are being implemented in the country from the first date itself. On one hand, while the prices of LPG cylinders have been cut, a new tax slab is also being implemented for exemption up to income of Rs 12 lakh.
Rule Change: The month of April has started and many big changes (Rule Change From 1st April) have been implemented in the country from the very first day. While on one hand the oil marketing companies have given relief by reducing the prices of LPG cylinders, new income tax slabs have also been implemented from the first date. Under this, individuals earning up to Rs 12 lakh annually will be exempted from paying tax. Apart from this, salaried employees will be eligible for a standard deduction of Rs 75,000. Let us know in detail about the big changes implemented in the country from today…
LPG prices reduced
The month of April has started from today and on the very first day, there has been a big relief on LPG cylinders. On April 1, 2025, oil and gas marketing companies have revised the LPG cylinder price and reduced it. After this, the price of cylinders has come down from Delhi to Mumbai. According to the IOCL website, the price of 19 kg commercial gas cylinder has been reduced and it has become cheaper by Rs 41 in Delhi, while in Kolkata it has become cheaper by Rs 44.50. However, this time also there has been no change in the prices of 14 kg domestic gas cylinders.
Tax free income up to Rs 12 lakh
With the start of the new tax year, new tax slabs have also been implemented from April 1, 2025. In Budget 2025, the government made many big announcements giving relief to the middle class, which included changes in tax slabs, TDS, tax rebate and other things. At the same time, a new Income Tax Bill was proposed in place of the old Income Tax Act 1961. All these changes have become effective from April 1, 2025. Under the new tax slab, individuals earning up to Rs 12 lakh annually will be exempted from paying tax. Apart from this, salaried employees will be eligible for a standard deduction of Rs 75,000. This means that salary income up to Rs 12.75 lakh will now be tax-free. However, this exemption applies only to those who choose the new tax option.
Changes in TDS rules
Apart from the new tax slab, TDS regulations have also been updated, raising limits in various sections to reduce unnecessary deductions and improve cash flow for taxpayers. For example, the TDS limit on interest income for senior citizens has been doubled to Rs 1 lakh, increasing financial security for the elderly. Similarly, the exemption limit on rental income has been increased to Rs 6 lakh per annum, reducing the burden for landlords and may boost the rental market in urban areas.
Launch of UPS
With the start of the new tax year, the Unified Pension Scheme (UPS), which provides guaranteed pension to central employees, is going to be launched from April 1. Central government employees will be able to apply on the portal from today i.e. April 1, 2025. If the employee wants to get pension under UPS, then he will have to fill the claim form to select the option of UPS. If they do not want to choose UPS, they can opt for NPS. Under this, 23 lakh central employees will have to choose one of the options between UPS and NPS. The central government will also provide an additional contribution of an estimated 8.5% of (basic salary + dearness allowance) for all employees choosing the UPS option. The minimum pension under UPS will be Rs 10,000 per month, which will be given on completion of a minimum of ten years of service by UPS.
This big change related to bank account
From the first date of April, many banks including State Bank of India (SBI) and Punjab National Bank (PNB) have revised the rules related to minimum balance in the savings account of customers. The bank will fix a new limit on sector wise basis for the minimum balance of the account holder and a fine can be imposed in case the minimum balance is not in the account.
These changes are also being implemented
Apart from these, many changes are being implemented in the country from 1 April 2025. Buying cars of many companies is becoming expensive, because from the first date itself these companies have announced to increase the prices of their cars. The companies have cited the increase in input cost and raw material prices as the reason behind this increase. Apart from this, operational cost has also been cited. The companies whose cars are getting expensive include Maruti Suzuki (4% increase), Tata Motors, KIA (3% increase), Hyundai (3% increase), Mahindra (3% increase) and Renault (2% increase). Along with this, according to reports, the rates of toll tax are also being increased on many highways.
