With effect
from 1st April 2019, there are so many important rules relating to
Banking sector, Mutual Funds, EPF, PAN cards and few more things are getting
changed with onset of new financial year.
Following are some of Important Rules set to change from 1st April 2019:
SEBI
Rules: Some of SEBI rules in relation to
Mutual Funds are set to change . As per new rule the, the Total Expense Ratio
(TER) would be 2.25. This fee will be collected from investors. It is 1.25
percent for close-ended schemes. TER will be 1 percent for any schemes other
than equity schemes.
BANKING:
Now all banks have to link loan rates to an external benchmark. This will
become mandatory as per RBI directions. Due to this action there are chances of
cheaper loans.
INCOME TAX:
- No Income Tax on Notional Rent
- Change in Tax Rebate, there will be
increase in the tax rebate from 2,500 to Rs.12,500. This will be applicable to
individuals having net taxable income up to Rs. 5 lakhs.
- Standard Deduction hiked to
Rs.50,000
- Increase in TDS Limit- This is for
interest earned from banks and post office deposits, the deduction of tax at
source has been increased from Rs.10,000 to Rs.40,000.
- Standard Deduction hiked to
Rs.50,000
SHARES :
From 1st April 2019, All shares hold in digital format ( in
DMAT Account) are considered to be
valid. If you have any share certificates in physical form (hard copy
certificates), then please get it converted to digital form to your DMAT account. There will be no
transfer of physical shares from 1st April 2019.
PAN CARD:
31st March 2019 is the deadline for linking your Aadhaar card number
to your PAN card. If you fail to do that, your PAN card may become invalid.
ELECTRICITY
BILLS : Electricity bills will become prepaid. You recharge your electric meter
number for the amount as per your wish. For this purpose they are going to
install new pre-paid meters at homes.
REAL ESTATE:
from 1st April 2019, New GST rates are going to be applicable in
real estate sector
- GST of 1% applicable on low-cost
houses.
- GST of 5% applicable for houses of
higher category.
- At present GST of these categories
are at 8 % and 12%.
PROVIDENT
FUND : From 1st April 2019,
employees no need to submit a separate application for transfer of Provident
Fund (PF) account while changing jobs. There will be new automated system of
EPFO for EPF transfer of funds, this system will be activated shortly.
MOTOR CYCLES
: For riders safety measures, All motor
cycles above 125 cc capacity must have an Anti-lock Braking System (ABS).
This feature generally found in cars of high end versions. And for bikes upto 125 cc,
a combi braking system will be mandatory.
TRAIN
TICKETS : Good news is that, if you miss
boarding a train, then the cost of your ticket’s will be refunded. Now it
became easy to link two PNR numbers provided the passenger information on To
and From tickets should be the same.
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