Happy New Year! From DA to ITR, get a cheap LPG cylinder. Since January 1, a lot has changed

 Happy New Year! From DA to ITR, get a cheap LPG cylinder. Since January 1, a lot has changed

Happy New Year! From DA to ITR, get a cheap LPG cylinder. Since January 1, a lot has changed

There are just a few hours remaining until 2024 officially begins. In the next year, several financial regulations will undergo modifications. In the New Year, government oil firms have the authority to decide on the cost of residential and commercial LPG cylinders.

Cheers to the New Year! There are now only a few hours till the start of 2024, or the new year. In the next year, several financial regulations will undergo modifications. Although you may have more issues if some laws are changed, you will also get numerous large rewards. Tell us what has changed since January 1st, please.

Cost of an LPG cylinder

Commencing on January 1st, LPG cylinders will be obtainable in Rajasthan at a price of Rs 450. But only those who qualify for Ujjwala will gain from it. Let us remind you that the BJP made this announcement during the election and is now carrying it out now that they have become the government. In addition, government oil firms have the authority to determine the cost of residential and commercial LPG cylinders in the next year.

Sukanya's interest rate has increased.

For the fourth quarter (January–March) of the current fiscal year, the government raised the interest rates on the Sukanya Samriddhi Yojana by 0.20 percent and the interest rate on the three-year fixed deposit plan by 0.10 percent. The prices for any other minor plan will not change. The interest rate on deposits was raised from the previous eight percent to eight and a half percent under the Sukanya Samriddhi Yojana. The current seven percent rate on three-year fixed deposits has been raised to seven percent.

Choice about dearness allowance

It is anticipated that an announcement about the increase in central workers' Dearness Allowance (DA) will be made in March. Nevertheless, this only takes effect on January 1. It is predicted that a 4% increase in the limit may occur. The DA for central staff would rise to 50% even if the allowance rises by only 4%. HRA will be updated as soon as central workers' allowance reaches 50% or higher.

What happens if the delayed ITR is not filed by the deadline?

December 31, 2023 is the deadline for submitting income tax returns (ITRs) with penalties for the fiscal year 2022–2023. Section 234F of the Income Tax Act permits taxpayers to be subject to penalties for missing this deadline. There's also a clause in this that allows for prison time.

Update the Bank Locker Contract

The Central Reserve Bank states that the updated bank locker agreement must be signed by December 31, 2023. The locker will be frozen in the new year if this deadline is not met. Clients will need to sign an updated contract and turn it in to the bank branch if they filed the bank locker contract on or before December 31, 2022.

Guidelines for buying a SIM card

In the new year, there will be changes to the guidelines for buying SIM cards. The Know Your Customer (KYC) procedure will now need to be completed paperlessly rather than on paper. It is also required to provide information via biometrics in conjunction with this procedure.

UPI ID that is not active

The new year will see the closure of inactive UPI IDs. Payment applications including Google Pay, Paytm, and Phone Pay have been requested to comply by the National Payments Corporation of India. This states that the UPI ID will be terminated after more than a year of inactivity.

Automobiles will be pricey.

Numerous large corporations have indicated plans to raise automobile costs as a result of inflationary pressure and increasing commodity prices. Maruti Suzuki, Hyundai, Mercedes, and Audi are a few of them.

Here is where relief is discovered.

We would like to inform you that SEBI has extended the deadline for adding nominees, which is good news for holders of demat accounts. The deadline for nominee additions for holders of demat and mutual fund accounts has been extended by SEBI till June 30 of the following year.