These rules related to money and tax are changing from April 1, income up to 12 lakh tax free, UPI, GST, credit card rules also change
UPI, PAN, Aadhaar, Income Tax new Rules April 2025: Many rules related to money are changing from the new financial year i.e. April See the full list and know the details…
Financial Changes From April 2025, Income Tax Changes: The new financial year is starting from April 1. Tomorrow i.e. from April 1, there will be a big change in some rules related to money and tax. Information about most of these changes was given last month i.e. in March 2025 itself. Finance Minister Nirmala Sitharaman made some big announcements related to Income Tax during the budget in February and now these rules will be implemented from April 1, 2025 i.e. tomorrow.
Key financial and tax changes include income tax exemption on annual income up to Rs 12 lakh, deactivation of UPI for mobile numbers not used for a long period and no dividend if PAN-Aadhaar is not linked.
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Income Tax Rule:These 5 big rules are going to change from April 1
These changes related to money and tax are being implemented from April 1
New income tax rule
Finance Minister Nirmala Sitharaman announced new tax rates and slabs in Budget 2025, which will come into effect from April 1. Under this, there will be no tax on annual income up to Rs 12 lakh. Apart from this, a standard deduction of Rs 75,000 will also be available for salaried employees. ie in this way no tax will have to be paid on income up to Rs 12.75 lakh in the new tax regime.
Changes in UPI rules
NPCI has issued new instructions to make UPI more secure. From April 1, UPI mobile number that have not been used for a long time will be deactivated. If your mobile number is linked to UPI and you have not been using it for a long time, then update it before April 1, otherwise your UPI account will not be accessible.
Changes in credit card reward points
Reward point rules are going to change for credit card users. SBI Simply Click and Air India SBI Platinum credit card holders will see changes under the new reward structure. And Axis Bank will also revise the benefits of Vistara credit card due to the merger of Air India and Vistara.
Unified Pension Scheme (UPS)
The UPS, launched by the government in August 2024, will come into effect from April 1. It is like the old pension scheme and will affect about 23 lakh central employees. Under this, employees with a service period of 25 years or more will get 50% of the average basic salary of the last 12 months as pension.
Changes in GST rules
From April 1, multi-factor authentication (MFA) will be made mandatory on the GST portal, which will further strengthen security. Apart from this, now e-way bill can be generated only on those documents which are not more than 180 days old.
Hotel room tariff and GST
Now, hotels having room rent of more than Rs 7,500 per day in any financial year will be considered as ‘Specified Premises’. Restaurant services offered in such hotels will attract 18% GST, but will get the benefit of input tax credit.
Bank account minimum balance rules
All banks have updated the minimum balance requirements. If you don’t have a minimum balance in your bank account you may have to pay a fine from April 1.
PAN, Aadhaar is Must linked
If you do not link your PAN and Aadhaar by March 31, you will not get allowance income from April 1. Apart from this, TDS will also increase
Mutual fund and demat KYC mandatory
KYC will become mandatory for mutual fund and demat accounts from April 1, 2025
Positive Pay System for Check Clearance
Pay System will be implemented to prevent bank fraud. Now for check payments of more than Rs 50,000, the account holder will have to electronically provide the details of the check to the bank which the bank will verify before payment.
Changes in Priority Sector Lending
From April 1, home loan borrowers will be able to take loans up to Rs 50 lakh in big cities, Rs 45 lakh in medium-sized cities and Rs 35 lakh in small cities under priority sector loans.
Increase in Tax Collection at Source (TDS) limit
The limit of TDS on interest income for old citizens has been increased to Rs 1 lakh.
Changes in TCS rules
The new rates of TCS will come into apply from April 1,2025. Now the limit of TCS on foreign travel investment and other
transactions has been increased from Rs 7 lakh to Rs 10 lakh.
It is worth noting that all these changes will have a direct impact on your pocket and financial transactions. So complete the necessary financial work before April 1 so that there is no problem.