These 5 rules will change from July 1, will have a profound effect on your pocket


In the midst of the Corona crisis, the central government has extended several important deadlines from June 30, giving people a major relief, including filing income tax refunds, filing Aadhaar-PAN link, deadline for annual deposits in small savings schemes. Is included. However, there are still many things that will change exactly from July 1. In such a situation, if you do not pay attention to them, then you may have to bear financial loss. Let us know which things related to your money are going to change from tomorrow.

1. ATM withdrawal charge

After the Corona crisis and the lockdown, the Union Finance Minister had said that till next June 30 ATM card holders can withdraw money from any ATM, there will be no charge on them. In such a situation, this rebate will end from July 1 and if you withdraw money from an ATM of a bank other than your bank, a minimum transaction charge will have to be paid. Please tell that you may have to pay a charge from 8 to 20 rupees. Usually, there is free transaction facility 5 times in 1 month, while at other bank ATMs this facility is only 3 times.

2. Account Minimum Balance Charge

If there is no minimum balance in the bank account of the customers, then they will be charged. Explain that every bank decides the minimum balance for customers according to their own, after that customers have to maintain this balance in their bank account. If customers do not do so, then banks charge them. After the lockdown by the central government, customers were exempted from maintaining minimum balance till June 30.

3. Exemption of EPF account holders to withdraw money

The Employees Provident Fund Organization had allowed EPF account holders to withdraw money from their account to a certain extent, let them know that this facility is going to end after June 30. Obviously, after 1 July you will not be able to claim PF Advance. However, for the PF claim, money can be withdrawn under Kovid-19’s first rules and qualifications.

4. Everybody’s Confidence Plan

The deadline for payment of ‘Sabka Biswas Yojana’, introduced to resolve old and disputed matters related to service tax and central excise, is 30 June. Please tell that from July 1, you will not be able to take advantage of this scheme, while it is the solution to every tax related dispute. On the other hand, the government has made it clear that after June 30, they will not increase the deadline of this scheme.

5. Rules for opening a new company

The relief news for start-ups is that starting a new company from July 1 is going to be very easy. It is believed that the registration of the company can be done online only through the Aadhaar number. Explain that the government has issued all the necessary guidelines for online registration of the company on the basis of self-declaration. These new guidelines will come into effect from 1 July 2020. It is to be known that many types of documents are required for the registration of the company.

Its information will be made public before 1 July 2020. The Ministry of Micro, Small and Medium Enterprises issued a notification on 1 June 2020 for new criteria for classification of MSMEs based on investment and business. All new norms will come into effect from July 1.

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