THESE Financial Rule Will Change From April 1; Watch Out

Importance of Awareness

Its crucial to stay informed about these changes to effectively plan your finances for the upcoming financial year.

Transition to FY25

With the closure of the financial year 2023-24 on March 31, 2024, notable alterations in financial regulations and tools will commence from April 1, 2024, marking the onset of the new financial year 2024-25.

Ola Money Wallet KYC Requirement

Ola Money wallet users must undergo KYC by April 1, 2024, as it transitions to a small prepaid payment instrument (PPI) category. Additionally, the wallet limit will decrease in the new financial year.

Discontinuation of SBI Amrit Kalash FD Scheme

Effective April 1, 2024, the SBI Amrit Kalash FD scheme will cease. This scheme, known for its attractive returns, will no longer be available to investors, including senior citizens eligible for enhanced returns.

FASTag KYC Updates

Failure to update FASTag KYC by March 31, 2024, will result in car owners being unable to add funds to their FASTag wallet from April 1 onwards. This could result in longer wait times at toll booths and increased toll charges.

Property Geo-tagging Mandate

Property owners in Delhi must complete geo-tagging of their properties under the MCDs provision to avail a 10% discount on property tax from April 1, 2024. Timely completion of property geo-tagging is mandatory to avoid any inconvenience.

National Pension System (NPS) Changes

NPS account access rules have been revised, requiring users to undergo Aadhaar authentication via OTP after entering their login credentials. This modification aims to bolster account security and mitigate fraudulent activities.