Kolkata: The onset of every month can bring a few changes in the financial world. But tomorrow is April 1, which marks not only the bigging of a new month or quarter but also that of a new financial year altogether. Therefore, look forward to several important changes and modifications. Below are some money rules that can concern a number of categories of people from taxpayers to credit card users, from customers of banks to those making digital payment.
PAN card rule
If you are applying for a PAN card till today you could use Aadhaar card as a proof. However from tomorrow, you have to furnish other documents as well. These documents include birth certificate, voter ID, passport, driving license, matriculation certificate, affidavit issued by magistrate etc.
SBI credit card
SBI Card, the second-biggest credit card issuer in India after HDFC Bank, has announced changes in the reward points redemption policy. The revised rules will be applicable from April 1. Reward points are of great significance to credit card users and millions of users will be looking forward to them. The company will cap monthly credit to 60,000 points monthly among other changes.
HDFC Bank changes
The biggest private bank in the country, HDFC Bank, has made some changes. The rules concerning the ATM will impact many. From tomorrow, UPI-based cardless cash withdrawals will be counted in the monthly free transaction limits on ATM. After this limit is exhausted, every customer has to pay Rs 23 per transaction and applicable taxes. One is allowed five free transactions at HDFC Bank ATMs per month and three free transactions in metro cities at other ATMs of other banks.
RuPay debit card lounge usage
If you have a RuPay Platinum debit card, it won’t allow you to enter the lounge of a domestic or international airport as you can do till March 31. The entry is being restricted and access to lounges will be on the basis of expenditure through this card and customers have to mmet them to step in.
The National Highways Authority of India (NHAI) has raised FASTag annual pass for FY27. The increase is from Rs 3,000 to Rs 3,075. it will be applicable form April 1.
Income Tax Act 2025 kicks in
The Income Tax Act 2025 comes into effect from tomorrow. Though income tax slabs and rates don;t change some significant points are changing for salary earnerrs such as increased HRA tax deduction benefits for those living in cities such as Bengaluru, Hyderabad, Pune and Ahmedabad. These city residents will now be eligible for 50% HRA.
Small savings interest rates
The government could change the interest rates on small savings instruments such as all post office instruments, PPF, SCSS, NSC etc. The interest paid on these instruments come up for revision once every quarter.