There are only a few days left for the new financial year 2025-26 to start. With the start of the new financial year on April 1, many financial rules will also change for crores of people. These changes are going to have a direct impact on your pocket and everyday life. From UPI accounts to ATM charges, from car prices to income tax rules, many important changes are going to be implemented from April 1. Today we are going to tell you through this news what is going to change from April 1, so that you can be prepared for these changes in advance and avoid any inconvenience. So let’s know about these 7 big changes in detail!
These UPI accounts may be in danger
The National Payments Corporation of India (NPCI) has directed banks and payment service providers to update their databases or remove discontinued or recycled mobile numbers before March 31. According to NPCI, doing so can prevent the risk of errors and fraud. Recycling a mobile number means allocating a closed number of an old user to a new user. If you have a UPI account linked to a mobile number that is no longer in use, make sure to update it before March 31, otherwise, your account may be closed.
Withdrawing money from an ATM will be expensive
If you withdraw cash from ATM, then from May 1, you will have to pay more charges for it. Earlier this fee was ₹ 17, which has now been increased to ₹ 19. Apart from this, non-financial transactions like mini statement and balance check currently charge ₹ 6, which will increase to ₹ 7. Therefore, now you have to be a little more cautious while using ATM, especially after exceeding the limit of free transactions.
Prices may increase up to 4%
From April 1, many big automobile manufacturers are going to increase the prices of their cars. Maruti Suzuki is increasing the prices of its cars by up to 4 percent. At the same time, companies like Hyundai, Mahindra, Tata Motors, Renault, and Kia have also decided to increase prices by 2 to 4 percent. If you are planning to buy a new car, then buying before April 1 can prove beneficial for you.
A minimum balance will have to be maintained in a savings account
From April 1, it will be mandatory to maintain a minimum balance in your savings account. If you do not maintain a minimum balance in the account, you may have to pay a penalty. Many banks are changing their minimum balance rules. Therefore, before April 1, be sure to get information about the new rules of your bank, so that you can avoid any unnecessary charges.
RBI’s Positive Pay System will be implemented
RBI has implemented the Positive Pay System (PPS) to avoid fraud. Many banks are implementing this system. Under PPS, if you issue a check of more than ₹ 50,000, you will have to electronically provide some information about the check to the bank. This system can prove to be an important step in preventing check fraud, especially for large transactions.
There will be a big change in income tax rules
Under Section 87A of Income Tax, the tax exemption will increase from ₹ 25,000 to ₹ 60,000. This increased exemption will apply to taxable income up to ₹ 12 lakh, excluding income from capital gains. This change will bring a big relief to middle class taxpayers, reducing their tax liability significantly.
IDS system will be implemented in GST
The Government of India has made several changes in the rules of Goods and Services Tax (GST). Under this, the Input Service Distributor System (IDS) is going to be implemented from April 1, 2025. The purpose of this system is to ensure the proper distribution of tax revenue among the states. This change will help in making the GST system more transparent and efficient.