New Rules From July 2023: Like every month, this month too there has been a change in some things related to your everyday life. Many important changes have taken place since July, ranging from PAN Aadhaar link to tax payment and other things. The last date for Aadhaar and PAN link was given on June 30, but now this date has expired and no information has been revealed to extend it. At the same time, 20 percent TCS will be applicable on the use of International Credit Card abroad.
Interest rate on small savings schemes increased
Changes have been made in small savings schemes for the months of July to September. Under small savings schemes, the interest rate has been increased by 0.30 percent. For one year TD, 6.90 percent interest will be given instead of 6.80 percent. 7% interest will be given instead of 6.9% on two-year TD. Five years post RD will get 6.5 percent interest instead of 6.2 percent. There is no change in the interest of PPF, KVP and Sukanya Samriddhi Yojana.
20% TCS on credit card
20% TCS will have to be paid for using the International Credit Card abroad. TCS will have to be paid if more than seven lakh rupees are spent in a financial year. However, this charge on medical and education will be less.
your pan will be useless
If you have not yet linked PAN and Aadhaar, then your PAN card will be useless. Fine will also be imposed for its use. A fine of up to Rs 10,000 can be imposed. With PAN being active, you will not be able to invest in mutual funds from filing income tax returns.
Merger of HDFC Bank and HDFC
The merger of Housing Development Finance Corporation Limited (HDFC) and HDFC Bank is to be done on July 1 i.e. today. This will be a mega merger of around $40 billion. It is the largest private company in the country, which had decided to merge only last year.
No change in LPG
There has been no change in the price of kitchen and commercial gas cylinders since July 1. In the national capital New Delhi, the price of LPG cylinder is Rs 1103 and the price of commercial gas cylinder is Rs 1773.
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