From 1 April, 2025, these 5 financial changes will put impact on you. These new rules includes Toll tax, UPI, TDS, Bank charges, UPS, Income Tax and more.
Inactive UPI ID
UPI is now a big part of everyone’s life, But some people create multiple UPI ID, and forget to use some, So from 1 April 2025, Govt will remove those UPI IDs, which are inactive from long time.
New Income Tax
New income tax slabs will come into effect from 1 april 2025. Income earned between 1 april 2025 to 31 march 2025 will gets new tax structure benefits. Income upto ₹12 lakh, and additional ₹75,000 for salaried individual will get exemption.
UPS
There is a change in new UPS scheme, government employees with at least 25 years of service will be eligible for a pension of 50% of the average basic salary of the last 12 months.
PAN Aadhaar Linking
If your PAN Card is not linked with your Aadhaar card till 31 March 2025, you will not get benefit of Dividend and TDS.
Also Read – Inflation: What Will Be The Value Of Rs 1 Crore After 25 Years?
Minimum Bank Balance
Minimum account balance is changed in some banks, including SBI, PNB, Canara Bank. Now minimum balance will depend on location of bank, from 1 april 2025.
TDS Limit
The limit for TDS on interest income for senior citizens has been raised from 50,000 to 1 lakh. For others, the TDS limit on bank interest is also increased to ₹50,000. Also, TDS threshold on receipt of dividend income has also been raised to Rs 10,000.
New Toll Tax
From 1 April, the toll prices for national highways in India have gone up by around 3% for different routes and at different toll plazas.
These new rules will come into effect from 1 april 2025.
