With the beginning of the financial year 2025-26, many major rules are going to change today, which can have a direct impact on your pocket and everyday life. From today, new rules will come into force in banking, GST, income tax, digital payments and other areas, which is very important for everyone from common citizens to traders to know. By keeping information about these changes in advance, you can avoid any kind of trouble. So let’s know in detail about those 10 big changes, which will come into effect from today.
Strictness in UPI rules
The National Payments Corporation of India (NPCI) has taken a big step towards making digital payments secure. From today, transactions of UPI accounts lying inactive for a long time will be stopped. If an old or closed number is linked to your bank account, update it immediately. Failure to do so may cause problems in UPI transactions from today. This step of NPCI has been taken to prevent fraud and unauthorized transactions.
Inactive UPI IDs will be closed
NPCI is taking strict measures to prevent fraud and phishing scams. From today, UPI IDs not used for the last 12 months will be deactivated. If you do not reactivate your inactive UPI ID, you may lose it forever. Check your UPI ID and keep it active to avoid any interruption in digital payments.
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Huge increase in TDS limit
Good news for those investing in fixed deposits (FD). From today, the limit of TDS exemption on interest received on FD, recurring deposit (RD), and other savings schemes has been increased. For senior citizens, this limit has been increased from ₹ 50,000 to ₹ 1 lakh, i.e. now no TDS will be deducted on interest up to ₹ 1 lakh. At the same time, for other investors, this limit has been increased from ₹ 40,000 to ₹ 50,000. This change will especially benefit senior citizens, whose TDS exemption limit has been doubled.
Change in savings account and FD interest rates
Many big banks are going to change the interest rates of savings account and FD from today. Banks like SBI, HDFC, Indian Bank, Punjab & Sind Bank and IDBI have revised their FD and special FD interest rates. If you are planning to invest in FD or savings account, then visit your bank’s website and get information about the new interest rates. This change can affect your savings and returns.
PAN-Aadhaar linking mandatory for dividend
If you invest in the stock market and take advantage of dividends, then this news is important for you. From today, those who do not have PAN and Aadhaar linked will not get dividends on shares. Apart from this, the rate of TDS on capital gains will also increase, and no credit will be available in Form 26AS. Link your PAN and Aadhaar in time to avoid any loss.
A minimum balance will be required in the savings account
From today, if you do not have a minimum balance in your savings account, the bank may charge you a penalty. The minimum balance limit of different banks may vary. Therefore, understand your bank’s policy well and maintain the required balance in the account, to avoid unnecessary penalties.
Big change in GST rules
A big change is also going to happen in the GST rules in the new financial year. The Input Service Distributor (ISD) system will come into effect from today. Its aim is to ensure the correct distribution of tax revenue among the states. This change will make the GST system more transparent, as well as help traders to better manage their tax liability.
New tax rules will be applicable
The assessment year 2025-26 will start today, and the new tax system will be applicable by default. If you want to avail of deductions like 80C under the old tax system, you will have to opt for it separately. The tax slabs and exemption rules are different in the new tax system, so do your tax planning in advance.
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