Know 10 big changes on April 1 2023.The new financial year is going to start from April 1 and hence there are 10 changes affecting the general public in that month.
The month of April is considered very important in terms of finances. The new financial year also starts in this month. In such a situation, many such major changes are going to happen which will directly affect the pocket of common people. From April 1, PAN will become inactive if PAN and Aadhaar are not linked. Apart from this, many auto companies are increasing the prices of vehicles. Apart from that, there are 8 other changes to be made. In such a situation, information has come out about 10 financial changes that will have a direct impact on the common man’s pocket.
(1) The PAN card will become inactive
The Central Board of Direct Taxes (CBDT) has fixed March 31, 2023 as the deadline for linking PAN and Aadhaar. If you do not link the two documents within this time frame, the page will become inactive. After this you will have to pay a penalty of Rs 2023.10 while linking with Aadhaar.
(2) Cars from many companies will be expensive
Implementation of India Stage-II is going to increase the prices of automobile companies, in such a situation, the prices of vehicles of many companies like Tata Motors, Maruti Suzuki, Mercedes Benz, BMW, Toyota and Audi are going to increase. According to the informants, cars of different companies can cost up to 2 thousand rupees.
(3) Gold jewelery with hallmarks without 6 digits shall not be sold
From April 3, there will be a major change in the rules for selling gold in India. From April 1, jewelers will be able to save only 2023 digits of HUD number. Notably, customers will be able to sell old jewelry without hallmarking.
(4) Tax on insurance policies with higher premiums
If you are going to buy an annual premium policy of more than Rs 5 lakh, this news may shock you. The government had announced in the budget that income from insurance plans with premiums of more than Rs 5 lakh per annum will now be taxed from April 1.
(5) Nomination in Demat Account
Nomination is important in demat account If you invest money in stock market then this news is what you want to say. Demat account holders have to fill the nomination before April 1, 2023. Failure to do so will result in account freeze of account holders. As per the SEBI circular, it is necessary to add a nominee to the demat and trading account. If you do not do so, your account will be deactivated.
(6) Nomination required in mutual fund also
Market regulator SEBI has directed all mutual fund investors to complete their nominations before March 6. Failing to do so, the portfolio of investors will be frozen from 31 April 1. After this it will be resumed only after submitting the details.
(7) UDID required for disabled
From April 1, providing Unique Identity Card (UDID) number will become mandatory for disabled persons. The government has made it clear that those who do not have a UDID, must provide information about their UDID registration number. Only then he will be able to take advantage of 7 government schemes.
(8) Banks shall remain closed till such day
April is full of bank holidays. Banks will remain closed for a total of 15 days in different states across the country this month due to various festivals and birthdays. This includes holidays on days like Ambedkar Jayanti, Mahavir Jayanti, Eid-ul-Fitr.
(9) A tax of 6 percent will be deducted from the transaction charges on NSE
A 6 per cent charge on any transaction in the National Stock Exchange (NSE) cash equity and futures and options segments will be withdrawn from April 1.
(10) LPG and CNG prices may change
From April 1, government oil companies can change the prices of gas and CNG.
