New Delhi, 31 May. From Monday, June 1, many new rules are going to change across the country, from LPG, UPI payment, banking services to tax and rail travel, which may impact the everyday life and monthly expenses of common people.
LPG And PNG but new rule
The Ministry of Petroleum and Natural Gas has made a major change related to gas connections. After the recent amendment in the LPG Regulation Order, now the houses where PNG (Piped Natural Gas) connection will be operational will have to surrender their LPG cylinder connection within 30 days.
gas companies Starting ‘connection transfer voucher’ system
This rule related to domestic gas will come into effect from June 1. However, for the convenience of consumers, companies like Indane, Bharat Gas and HP Gas are starting ‘connection transfer voucher’ system. Under this, people can surrender LPG connection. Later, if you shift to an area where PNG facility is not available, you can restart your LPG connection.
Along with this, there will also be a regular monthly review of the prices of domestic 14.2 kg and commercial 19 kg gas cylinders on June 1, which may affect the kitchen budget.
UPI Security will increase in payment
National Payments Corporation of India (NPCI) is implementing a new security feature to make digital payments more secure. From June 1, before sending money to any person or shopkeeper on UPI apps like Google Pay, PhonePe and Paytm, his official name registered with the bank will be visible on the screen.
This information will be shown before entering the UPI PIN. This will help people confirm that the money is going to the right person’s account. Besides, the risk of wrong transfer and digital fraud will also be reduced.
Changes in rules related to banking services also
Many banks are making changes in their service charge system from June 1st. This may affect services related to ATM and cash transactions. In many banks, after the limit of free ATM transactions is reached, charges for services like cash withdrawal, mini statement and balance check may increase.
However, customers have also got some relief. Now giving PAN number on cash deposits up to Rs 50 thousand has been made easier than before. However, in cases of purchase of property worth more than Rs 20 lakh or family gifts of large value, PAN will continue to be mandatory as before.
Advance tax deadline fixed for June 15
People whose estimated tax liability in the financial year is more than Rs 10,000 will have to deposit advance tax of 15% of their total tax liability by June 15. If payment is not made on time, interest at the rate of one percent may have to be paid every month. Therefore this is an important deadline for taxpayers.
Some additional relief to those choosing the old tax system
At the same time, employees and families who chose the old tax system are going to get some additional relief. Tax exemption on Children Education Allowance has been increased to Rs 3,000 per month per child. At the same time, the limit of hostel allowance exemption has been increased to Rs 9,000 per month.
Apart from this, big cities like Bengaluru, Pune, Hyderabad and Ahmedabad have now been included in the 50% HRA exemption category. This may provide additional tax relief to some employees living in these cities.
Time table will change for train passengers
Timings of trains are being changed on many railway routes from June 1. Many railway zones including Southern Railway have revised the time tables of their busy routes. The new timings for more than 200 local trains running on the Chennai Beach-Tambaram-Chengalpattu rail corridor will come into effect from June 1. Regular passengers have been advised to check the new time table on the railway app or the display board of the station before travelling, so that any kind of problem can be avoided.
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