Many important rules are changing from today, which will affect our financial life. These include rules related to income tax, UPI, banking, and pension. These changes are becoming effective with the introduction of the new financial year 2025-26. In this article, we will discuss in detail about all these changes and will tell you how they can affect your life.
The biggest impact of these rules will be on income tax, where now income up to Rs 12 lakh will be tax free. Apart from this, UPI rules are also changing, which will deactivate UPI accounts associated with inactive mobile numbers. There are also many changes in the banking sector, including credit card rules and pension schemes.
It is very important to understand all these changes and take your financial decision according to them. This article will give you detailed information about all these rules and will help you decide what you have to do.
Interpretation of the main word
Description of rules related to UPI, tax, and bank
| Rule | Description |
| Income tax rules | There will be no tax on income up to Rs 12 lakh. There will also be a standard deduction of Rs 75,000 for salaried employees. |
| Upi rules | UPI accounts associated with inactive mobile numbers will be deactivated. |
| Pension rules | Unified pension scheme is being implemented, which will change the old pension scheme. |
| Credit card rules | Many banks are changing the reward structure of credit cards. |
| TDS Rules | The limit of TDS on interest income for senior citizens has been increased to Rs 1 lakh. |
| TCS Rules | The TCS limit on foreign travel and investment has been increased to Rs 10 lakh. |
| GST rule | Security measures related to GST are also changing. |
Change in income tax rules
The biggest change in income tax rules is that now there will be no tax on income up to Rs 12 lakh. Apart from this, there will also be a standard deduction of Rs 75,000 for salaried employees, which will make income tax free up to Rs 12.75 lakh. This change is happening under the new tax regime, which will now be the default option.
Information about new tax slab
- 0 to 4 lakh rupees: 0% tax
- 4 lakh to 8 lakh rupees: 5% tax
- 8 lakh to 12 lakh rupees: 10% tax
- 12 lakh to 20 lakh rupees: 20% tax
- 20 lakh to 24 lakh rupees: 25% tax
- More than Rs 24 lakh: 30% tax
Changes in UPI rules
There is also a significant change in UPI rules. Now UPI accounts associated with inactive mobile numbers will be deactivated. This change is being made due to security reasons, so that the chances of fraud are reduced. If your mobile number is inactive for a long time, then you will have to link a new number to your bank account, otherwise your UPI transactions may be closed.
What to do for UPI safety?
- Link the new mobile number: If your old number is inactive, change it.
- Keep the UPI app updated: Always keep your UPI app in the latest version.
- Protect the password and PIN: Never share your UPI password and PIN with anyone.
Changes in banking rules
There are many changes in the banking sector as well. Credit card rules are being changed, which will change the reward structure. Apart from this, Unified Pension Scheme is also coming into force, which will change the old pension scheme.
Changes in credit card rules
- SBI Simplyclick and Air India SBI Platinum Credit Card: Reward points of these cards will change.
- Axis Bank Vistara Credit Card: After merging with Air India, its benefits will change.
Change in pension rules
The implementation of unified pension scheme will affect more than 23 lakh central government employees. Under this scheme, employees who have completed 25 years of service will get a pension equal to 50% of their average basic salary of the last 12 months.
Benefits of Unified Pension Scheme
- Simplification: The pension scheme is being simple and integrated.
- Fixed pension: Employees will get fixed pension, which will be based on their years of service.
- Security: This scheme will provide financial security to employees.
Changes in TDS and TCS rules
TDS and TCS rules are also changing. The limit of TDS on interest income for senior citizens has been increased to Rs 1 lakh. Apart from this, the limit of TCS on foreign travel and investment has been increased to Rs 10 lakh.
Description of TDS and TCS Rules
- TDS: TDS limit on interest income for senior citizens has been increased.
- TCS: TCS limit has been increased on foreign travel and investment.
Change in GST rules
Security measures related to GST are also changing. This change is being made to increase the safety and transparency of GST.
Description of GST Safety Measures
- Safety Measures: New measures are being implemented to increase the safety and transparency of GST.
- Transparency: Technical improvements are being made to increase transparency in the GST system.
conclusion
All these rules will have a direct impact on your financial life. Income tax exemption will give you financial relief, while changes in UPI rules will protect your transactions. Changes of pension scheme will benefit government employees. Credit cards and GST rules are also changing, which will affect your expenses and business.
Keeping all these changes in mind, it is important to take your financial decision. Make sure that you manage your financial work according to these rules and update the necessary timely.
Rejuvenation
This article provides general information about recent changes in financial rules. This is not an alternative to any personal financial advice. It would be appropriate to consult a professional advisor before making a financial decision.
