Personal Finance From April 1 (x/@stoxkartonline)
The new financial year, FY26, or FY 2025-2026, will begin tomorrow, April 1. Along with the new financial year or 'tax year', some important new developments in the shape of changes will also come into effect. First and foremost, the largest change that will occur in the new financial year which will impact personal finance of millions is the new income tax slabs.
The historical revision comprises the marquee shift to raise the threshold limit of taxation to Rs 12 lakh annually.
The new taxation system is as under:
Following is a comparison of the old and the new regimes.
Following this, another significant development which will impact your personal finance is the regime change in UPI regulations. The National Payments Corporation of India (NPCI), the regulator, has introduced a series of steps to further establish a bulwark of security in the Unified.
Among the important steps is that from April 1, UPI transaction cannot be carried out via inactive numbers. NPCI has requested payment platforms such as Gpay and PhonePe, among others, to gradually remove inactive numbers from the system so that they can be reallocated.
From FY26, the GST portal has introduced new steps to further secure online. The portal will now require mandatory multi-factor authentication (MFA). Industrial E-Way Bills (EWBs) could only be produced for base documents up to 6 months or 180 days old.
Another significant way your finances could be impacted is through a change in the Credit card rules. This will impact various cardholders differently based on the bank involved. For Axis Bank customers, the bank based in Mumbai will revise its Vistara Credit Card privileges. This is made possible following Vistara's acquisition of Air India. Also, according to moneycontrol, SBI SimplyCLICK and Air India SBI Platinum Credit Card holders will experience chnages in their reward points scheme.
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