New Rules: Changes In 'these' Rules Including PAN, Debit Cards From April 1, Direct Impact On General Public

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SBI Debit Card: These changes include rules related to PAN Aadhaar linking, National Pension System, EPFO.

New Rules: Changes in 'these' rules including PAN, Debit cards from April 1, direct impact on general public

New Rules From 1st April

The new financial year 2024-2025 is starting from 1st April 2024 i.e. from today. After this there will be changes in many rules in different areas of the country. Which will have a direct impact on the lives of common citizens.

These changes include PAN Aadhaar linking, National Pension System, Tax, PF related rules.

New Rules: Changes in 'these' rules including PAN, Debit cards from April 1, direct impact on general public

PAN-Aadhaar Link

Linking of PAN card with Aadhaar card has been made mandatory. The deadline for linking PAN to Aadhaar was March 31, 2024.

• If the PAN is not linked with Aadhaar card within the given period, the PAN number will be cancelled. That means PAN card cannot be used as a document.

• If the PAN card is to be linked with Aadhaar after April 1, a penalty of Rs 1,000 has to be paid.

New Rules: Changes in 'these' rules including PAN, Debit cards from April 1, direct impact on general public

New Rules of SBI Debit Card

• According to the information given on the official website of SBI, the bank has increased the annual maintenance charges associated with certain debit cards by Rs 75. This change will come into force from 1st April 2024.

• SBI Cards, on the other hand, has announced that reward points on rent payment transactions will be discontinued for certain credit cards from April 1, 2024.

• These include AURUM, SBI Card Elite, SBI Card Elite Advantage, SBI Card Pulse and SimplyClick SBI Card.

State Bank of India revised their debit cards annual fees effective from 1st April’2024
Full detail and new charges: Visit TF Community (Link in 1st comment)@TheOfficialSBI didn’t bother to send any communication to their existing customers about these changes. They simply…

— Sumanta Mandal (@karna_ocw) March 25, 2024

New Tax Regime

• If the taxpayer has not opted for a new tax regime by March 31, then from April 1, 2024, his new tax regime will become the default tax regime. That is, the taxpayer will have to pay tax as per the rules of the new taxation system.

All Taxpayers Please Note That :

New tax rules will come into effect across India w.e.f 1st April 2024.

New Tax regime will become “DEFAULT OPTION” now.

Tax Slabs :

Upto 3 lakh – 0
3-6 lakh – 5%
6-9 lakh – 10%
9-12 lakh – 15%
12-15 lakh – 20%
15 lakh & Plus – 30%

So, you are…

— R.K. (@ipo_mantra) March 31, 2024

Propose a graded surrender value in an insurance policy

• The new rules will come into effect from April 1, 2024 for those investing in insurance policies. The Insurance Regulatory and Development Authority of India (IRDAI) has proposed a time-graded surrender value under changes in regulations.

• As per the new rules, if the policyholder surrenders the policy within three years, the surrender value will be equal or lower, while if the policyholder surrenders the insurance between the 4th and 7th year, the value may be higher.

Changes in NPS Rules

• The Pension Fund Regulatory and Development Authority (PFRDA) has launched an Aadhaar-based Two Factor Authentication system to make the National Pension System (NPS) more secure. This system will be for all password base NPS users, which has been implemented from April 1. PFRDA had issued a notification in this regard on March 15.

EPFO

• The rules of EPFO have changed from 1st April 2024. As per this rule now after job change the PF account will be transferred in auto mode. That means now the user will not need to give a request to transfer the account. With the implementation of this rule, the problems of the employees will be reduced to some extent.

New Rules: Changes in 'these' rules including PAN, Debit cards from April 1, direct impact on general public