New Financial Changes From 1 April 2025: The new financial year is going to start from 1 April 2025. The new financial year means new changes and rules in taxation, UPI and investment, all of which will come into effect from April 1, 2025.
The most important thing is that these changes can change the way you save and spend. Here we will tell you which changes are going to be implemented from April 1.
UPI accounts will be closed
If you use UPI payment apps like PhonePe or Google Pay, it will become necessary to use these platforms regularly. From April 1, 2025, the National Payments Corporation of India will close UPI IDs that have not been used in the last 12 months. This will be done to prevent fraud and phishing scams.
Updates in the tax regime
Assessment year 2025-26 will officially begin from April 1. Now, the new tax regime has come into effect, although the previous old system (with 80C benefits) is still applicable. For this you have to opt for it.
If you do not declare the old tax regime while filing tax, you will automatically move to the new regime. If you want to claim deduction under 80C, plan your investments under 80C in advance.
PAN-Aadhaar linking is necessary for dividend
Often companies pay dividends on shares. From April 1, anyone without a PAN-Aadhaar link will not receive dividend payments. The deadline for this has expired long ago. So if these two documents are not linked, the TDS deducted from dividends and capital gains will increase. Worse still, no credit will be available in Form 26AS.
New rules for mutual fund-demat accounts
New rules made by SEBI for NBFCs regarding KYC for opening a mutual fund or demat account have come into effect. All users will have to re-verify their KYC and nominee information. Those who fail to follow these guidelines may have their accounts frozen.
These accounts can be unfrozen, but due to insufficient nominee details, redemption will be blocked.
Fuel and LPG rates
Fuel and LPG rates keep changing every month. This may happen in early April as well. However, it is not necessary that their prices change.
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