Source: aajtak
Today marks the final day of March, and tomorrow, April 1, 2025, heralds the start of a new tax year—accompanied by pivotal nationwide transformations (Rule Change From 1st April) that will affect households and wallets alike. You’ll observe changes in LPG Cylinder prices, your bank accounts, as well as impacts on debit and credit cards. Not only that but traveling on highways is potentially becoming costlier as numerous routes are expected to see toll tax hikes. Let’s explore these 10 significant changes in depth...
Source: aajtak
First Change - LPG Prices
Every first of the month, oil and gas distributors adjust LPG Cylinder prices (LPG Cylinder Price), and April 1, 2025, is no exception. Recently, while 19 kg LPG Cylinder prices have fluctuated, the rates for kitchen LPG cylinders have been stable. With the dawn of the new fiscal year, there is hope for favorable revisions to the prices of 14 kg cylinders, bringing relief to households.
Source: aajtak
Second Change - CNG-PNG and ATF Prices
Beyond LPG, there could also be modifications in the costs of CNG and PNG (CNG-PNG Price) from the first day of the month. Companies may also adjust the rates for Air Turbine Fuel or ATF on April 1, 2025. Fluctuations in CNG prices could either increase or ease vehicle operating expenses, whereas airfare could rise with ATF price hikes.
Source: aajtak
Third Change - UPI IDs Deactivation
On April 1, 2025, the next significant change concerns the Unified Payments Interface (UPI). UPI accounts linked to mobile numbers that have been inactive for an extended time will be removed from bank records. If your phone number is linked to a UPI app and you haven’t used it for a while, you might face service cessation.
Source: aajtak
Fourth Change - Debit Card New Regulations
Exciting updates are on the horizon for RuPay Debit Select Card holders, effective from April 1, 2025. Including enhancements in fitness, wellness, travel, and entertainment offerings, quarterly complimentary domestic lounge visits and two yearly international lounge visits at select lounges will be available. Cardholders will enjoy personal accident coverage of up to 1 million rupees for death or permanent disability, plus a free gym membership each quarter.
Source: aajtak
Fifth Change - Introduction of UPS
With the advent of the new tax year, the Unified Pension Scheme (UPS), which guarantees central government employees a pension, launches on April 1. From then, they can apply on the portal. Employees desiring a pension under UPS must select the UPS option in their claim forms or opt for NPS. Within the UPS framework, 2.3 million central employees will make a choice between UPS and NPS. The central government will also make an estimated additional contribution of 8.5% of (basic salary + dearness allowance) for those selecting UPS. The UPS ensures a minimum pension of 10,000 rupees monthly upon completion of a minimum of ten years of service.
Source: aajtak
Sixth Change - Tax Slab Regulations
During the 2025 budget, the government provided several relief measures, including alterations to the tax slab, TDS, tax rebates, and beyond. Additionally, a proposal to replace the old Income Tax Act of 1961 with a new tax bill was made. All of these reforms take effect from April 1, 2025. Under the revamped tax slab, individuals earning up to 1.2 million rupees annually will be exempt from paying taxes. Salaried employees will also be eligible for a standard deduction of 75,000 rupees, potentially making income up to 1.275 million rupees tax-free. However, these exemptions apply only to those who choose the new tax option.
Source: aajtak
Seventh Change - Increase in TDS Limit
Additionally, TDS regulations have been updated, amplifying limits in various areas to reduce unnecessary deductions and improve taxpayers' cash flow. For instance, the TDS limit on interest income for senior citizens has been doubled to 100,000 rupees, enhancing financial security for seniors. Similarly, the exemption limit on rental income has been increased to 600,000 rupees annually, easing burdens on landlords and potentially boosting the urban rental market.
Source: aajtak
Eighth Change - Credit Card Rules
From April 1, 2025, changes in the credit card regulations are anticipated (Credit Card Rule Change), which will affect the rewards and other benefits they offer. While SBI will halve the Swiggy reward points on its SimplyCLICK Credit Card from fivefold, Air India Signature Points will reduce from 30 to 10. Moreover, IDFC First Bank will discontinue Vistara Milestone benefits.
Source: aajtak
Ninth Change - Bank Account Regulations
As of the first day of April, leading banks like the State Bank of India (SBI) and Punjab National Bank (PNB) plan to modify rules tied to the minimum balance in savings accounts. Banks will set new minimum balance limits sector-wise, and failing to maintain it may result in fines imposed on account holders.
Source: aajtak
Tenth Change - Increase in Toll Taxes
The National Highway Authority of India (NHAI) might hike toll tax rates starting midnight of March 31st, impacting your highway journeys. Reports suggest the implementation of enhanced rates across various toll plazas from April 1st. In particular, tolls for light vehicles crossing highways near Lucknow may rise by 5 rupees, while larger vehicles might see a 20 to 25 rupee hike. Highways like Lucknow-Kanpur, Ayodhya, Rae Bareli, and Barabanki are among those to be affected. Additionally, travelers on the Delhi-Meerut Expressway, Eastern Peripheral Expressway, and NH-9 are likely to face increased tolls as well.
