Rule Changes December: November is wrapping up, and with December just around the corner, there are some financial shifts coming that could hit your wallet. These changes cover everything from LPG gas cylinders to pensions, taxes, and fuel. Starting December 1st, five key rules are changing. Let’s dive into how these will affect your finances.
LPG Gas Cylinder Prices
Every December 1st, the government usually updates LPG prices. This update affects both commercial and cooking gas cylinders. In November, oil companies adjusted the rates for commercial gas cylinders, lowering the price of a 19-kilogram commercial gas cylinder by Rs 6.50 on November 1st. Meanwhile, cooking gas prices have stayed the same for a while now.
UPS Deadline
Government employees have until November 30th to opt for the Unified Pension Scheme (UPS). This deadline was previously September 30th. Any government worker can choose between the NPS and UPS. If they want to make a choice, they need to do it before November 30th, as this option might not be available after December 1st.
Submitting a Life Certificate
Senior citizens must submit a life certificate to keep receiving their pension benefits. The deadline for this is also November 30th. If they don’t submit it, they risk having their pension suspended.
Tax Rules
For those who had TDS deducted in October, you’ll need to submit statements under sections 194-IA, 194-IB, 194M, and 194S by November 30. Taxpayers who need to file reports under section 92E can also wrap this up by November 30.
CNG-PNG and Jet Fuel
Oil companies adjust the prices of LPG, CNG, PNG, and ATF every month. This month, we might see changes in the prices of LPG, CNG, PNG, and jet fuel (AFT) as well. ATF, or jet fuel, is a high-pressure fuel, and its prices differ for domestic and international flights.