Rules Changes July 2024 Every month many financial rules change. These rules have a direct impact on the pockets of the common people. The month of July has started from today. New rates of LPG cylinders have been released on the first day of the month. Let us know why the month of July is special for the general public.
The month of July has started today. On the very first day of the month, oil companies have given relief to the general public. Yes, new prices of LPG cylinders have been released across the country.
This month, the price of commercial cylinders has been reduced for the third consecutive time. Apart from this, many new financial rules have been implemented in the country.
Let us know which new financial rules have been updated or changed from July 1, 2024.
Tata’s commercial vehicles will be expensive by up to two percent
Tata Motors’ commercial vehicles will become expensive by up to two percent from July 1. This increase in price will vary according to the model. Earlier in March also, the company had increased the price of commercial vehicles by up to two percent.
At the same time, Hero’s two-wheelers will be expensive by up to Rs 1,500. Vehicles of the country’s leading two-wheeler manufacturer Hero MotoCorp will also be expensive by Rs 1,500 from July 1. This increase will vary according to the model and market. The company says that this increase in price is being done due to high production cost.
There will be a change in the rules for porting mobile numbers
From today, the rules for porting mobile numbers will change. Now if a customer changes his SIM, he will be able to port his mobile number only after seven days. Currently this time limit was 10 days. TRAI said that this step has been taken to curb fraud through mobile phone numbers.
Mobile recharge will become expensive
Mobile recharge will become expensive from July 3. All three major telecom companies Reliance Jio, Bharti Airtel and Vodafone Idea have increased their recharge plans by 10-24 percent. Jio and Airtel recharges will become expensive from July 3 and Vodafone recharges from July 4.
CBDT will get new chairman
The Central Board of Direct Taxes (CBDT) will get a new chairman from July 1. The Central Government has appointed 1988 batch revenue officer Ravi Agarwal as the Chairman of CBDT. He will remain in his post till June 30, 2025.
Settlement facility on the same day in NPS
Subscribers in the National Pension System (NPS) will start getting the facility of settlement on the same day from July 1. According to the Pension Fund Regulatory and Development Authority (PFRDA), the NPS contribution received by the trustee bank by 11 am on any settlement day will be invested on the same day and the subscribers will get the benefit of NAV (net asset value) on the same day. Till now, the settlement of contributions received by the trustee bank is invested the next day (T+1).
General budget will be presented
Finance Minister Nirmala Sitharaman will present the full budget for the financial year 2024-25 in July itself. This will be her seventh consecutive budget.
Bank Holiday
According to the RBI calendar, banks will be closed for 12 days in July. This includes Saturday-Sunday as well as festival holidays of different states. These holidays will vary in states.
Paytm wallets will be closed
Paytm Payments Bank’s inactive wallets will be closed on July 20. Its scope will include those wallets from which there has been no transaction in the last one year and the balance is zero.
Last date for ITR filing
Income tax return (ITR) can be filed till 31 July 2024 for the financial year 2023-24. However, ITR can be filed till 31 December 2024 with a penalty.
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