New Delhi:
New Guidelines From 1st July: The month of July is bringing many necessary adjustments. As we all know that the month of July is stuffed with financial adjustments. Many new guidelines (1st July 2024 New Guidelines) are going to be carried out from July 1, which incorporates earnings tax returns, adjustments in banking guidelines and doable adjustments in gasoline costs. Aside from this, many such guidelines are going to alter within the month of July, which goes to have a direct affect on the pocket of the frequent man.
Right here we are going to inform you intimately what adjustments are going to occur in July (New Guidelines from July 2024 Checklist) and what affect these adjustments can have in your life.
Deadline for submitting Earnings Tax return
The Earnings Tax Division has mounted July 31, 2024 because the final date (ITR submitting deadline) for submitting Earnings Tax Returns for the monetary yr 2023-24 (evaluation yr 2024-25). In such a scenario, you do not need a lot time left. To keep away from the final day rush, do the tax submitting now. Even in case you are unable to file the return by this date (ITR deadline), you’ll be able to file a belated return until December 31, 2024.
Paytm Funds Financial institution’s inactive pockets can be closed
Paytm Funds Financial institution has stated that it’s going to shut these inactive wallets on 20 July 2024 during which there was no transaction for the final one yr or extra and during which the stability is zero. In keeping with the web site of Paytm Funds Financial institution, “If there was no transaction in your pockets for greater than a yr and the stability can be zero, then will probably be closed from 20 July 2024. All of the customers affected by this can be notified and they are going to be knowledgeable 30 days earlier than the pockets is closed.”
When you even have an analogous Paytm pockets then don’t delay. Test your Paytm pockets now, whether it is inactive then activate it once more.
Change in costs of LPG together with petrol and diesel
On July 1, new costs of gasoline cylinders can be determined by authorities oil corporations. Allow us to inform you that on the primary of each month, the costs of gasoline cylinders utilized in kitchens and inns and eating places are determined. Final month, the costs of 19 kg industrial LPG cylinders have been diminished by Rs 69. Nonetheless, the worth of 14.2 kg home LPG cylinder stays at Rs 803 per cylinder. On the identical time, the costs of petrol and diesel will even be modified on June 1.
Shopping for a automotive can be costly from July 1
Tata Motors has introduced to extend the costs of its industrial automobiles by as much as 2% from July 1. This improve is being completed to cowl the rising costs of products. India’s largest automobile producer Tata Motors had earlier elevated the costs of its industrial automobiles by as much as 2% in March. The corporate says that this improve can be relevant to all kinds of industrial automobiles, however there could also be a slight distinction in response to completely different fashions and variants.
On the identical time, Hero MotoCorp has additionally introduced a rise within the costs of its choose scooter and motorbike fashions by as much as Rs 1,500 from July 1, 2024. The corporate stated that this step must be taken as a result of excessive price of manufacturing. The nation’s largest two-wheeler producer stated that the change in value can be as much as Rs 1,500 and this improve will range in response to completely different fashions and markets.
Banks will stay closed for 12 days in July (Financial institution Vacation July)
In keeping with the Financial institution Vacation Calendar (Financial institution Holidays in July 2024) issued by the Reserve Financial institution of India (RBI), banks are going to stay closed for 12 days in July. This contains festivals in several states on the event of festivals like Guru Hargobind Ji Jayanti and Muharram, in addition to weekly holidays on Saturday and Sunday. In such a scenario, if you must go to the financial institution for any work within the subsequent month i.e. July, then first verify the checklist of holidays (Financial institution Vacation Checklist)
The final price range is anticipated to be offered in July
The price range of the third time period of the Modi authorities (Modi 3.0 Price range) is anticipated to be offered within the final week of July. In keeping with the report, Finance Minister Nirmala Sitharaman could current the upcoming Union Price range 2024-25 for the monetary yr 2024-25 on July 22. Nirmala Sitharaman has to this point offered six budgets throughout her five-year tenure as Finance Minister. This can be her seventh consecutive price range.
