These changes include card tokenization, investment in Atal Pension Yojana, gas cylinder price, interest on small savings schemes, mutual fund nomination, two-factor authentication, etc.
Like every month, in October 2022 too many big rules are going to change, which will have a direct impact on your life. It is important to know about these changing rules, otherwise you may have to face problems.
These changes include card tokenization, investment in Atal Pension Yojana, gas cylinder price, interest on small savings schemes, mutual fund nomination, two-factor authentication, etc. Let us know which rules related to you are going to change big from October 1.
New rule for subsidy on electricity in Delhi
A new rule has been introduced to get subsidy on electricity in Delhi . Under this rule, if someone wants to get subsidy on electricity, then he has to apply. This rule will come into effect from October 1 and the old rule of subsidy on electricity will be discontinued on September 31. According to Chief Minister Arvind Kejriwal, only the person applying for the subsidy will get the benefit of free electricity.
Changes in the rules of GST e-Invoice
From October 1, e-invoicing will become mandatory under GST for businesses with a total turnover of Rs 10 crore and above. The government has raised the limit from the present Rs 20 crore to Rs 10 crore to tackle the revenue deficit and collect more tax from businesses. The decision to make this change has been taken after the recommendations of the GST Council.
Change in interest of small savings schemes
The repo rate has been increased by the Reserve Bank, due to which there has been a difference in interest in bank FD and other schemes. In such a situation, on September 30, the interest of the post office small savings schemes can be increased by the central government .
Two-factor authentication
If you also have a demat account, you will not be able to log in to your account from October 1, as the National Stock Exchange has made two-factor authentication mandatory for logging into the demat account.
Investment in Atal pension yojana
According to the notification issued by the Ministry of Finance, now taxpayers will not be able to invest in Atal Pension Yojana from October 1, 2022. Taxpayers have been banned under this scheme by the ministry. Under this scheme, a maximum pension of up to Rs 5000 can be taken. In this, an investor of 18 to 40 years can invest and can take advantage of pension after 60 years.
Card tokenization system will be applicable
The rules regarding payment by credit and debit cards are changing. RBI has instructed banks to tokenize these cards. The card-on-file tokenization rule is going to come into effect from October 1. Under this rule, instead of debit or credit card on any e-commerce website, the token number will be saved, which will contain the complete details of your card and with the help of this you can buy any item. This card will keep the data of the users safe.
Nomination in Mutual Funds
If you also invest in mutual funds, then now you will be required to give nomination details. An investor who does not provide the nomination details will have to fill a declaration. The fact of not taking the facility of nomination has to be acknowledged in the declaration. Although this rule was to come into force on August 1, 2022, but later its date was changed.
e-nomination in NPS
PFRDA has recently changed the process of e-nomination for both government and private or corporate sector employees. The change will be effective from October 1, 2022. As per the new NPS e-nomination process, the Nodal Office will have the option to accept or reject the e-nomination request of the NPS account holder.
