Big financial changes from April 1! Credit card, GST, UPI rules to impact your wallet

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.

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:

• Rs 4 lakh: Zero tax
• Rs 4 lakh to Rs 8 lakh: 5 per cent
• Rs 8 lakh to Rs 12 lakh: 10 per cent
• Rs 12 lakh to Rs 16 lakh: 15 per cent
• Rs 16 lakh to Rs 20 lakh: 20 per cent tax
• Rs 20 lakh to Rs 24 lakh: 25 per cent tax
• Rs 24 lakh and above: 30 per cent tax

Following is a comparison of the old and the new regimes.

Updated UPI Payment Rules

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. 

Payments Interface (UPI) system

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.

GST Rules

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.

Credit Card Rule Changes

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.