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NEW YEAR NEW RULES

Check the rules changes from 1st January 2021.

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NEW YEAR NEW RULES

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  1. NEW YEAR, NEWRULES [Adirectimpactonyourbudget] VINOD K AGRAWAL & ASSOCIATES,CA

  2. From January 1,new rules will apply to these 10 essential things, which will havea direct impact on your budget. For all the important things like tax, electricity, road, mobile, car andbanking

  3. KNOWHERE WHAT NEW RULES ARE GOING TO APPLY:

  4. 1.CHECKPAYMENT From January 1, 2021, the rules related to check payments willchange. According to the new rule, positive pay system (positive payment system) will be applicable for checks paying more thanRs 50,000. Positive Pay System is an automatic tool that will check fraud cases throughchecks.

  5. 2.ELECTRICITY From 1 January, the Ministry of Power is preparing to implement new rules forconsumers. Where electricity distribution companies will have to provide electricity on a fixed timebasis. According to the rule, these companies will have to provide electricity connection within 7 days in urban area, 15 days in municipal area and in rural areas within onemonth.

  6. 3. GST RETURNRULES From 1 January, the Ministry of Power is preparing to implement new rules forconsumers. Where electricity distribution companies will have to provide electricity on a fixed timebasis. According to the rule, these companies will have to provide electricity connection within 7 days in urban area, 15 days in municipal area and in rural areas within onemonth.

  7. 4. FASTAGREQUIRED ONVEHICLES Fastag will be required on vehicles to cross the toll from 1 January2021. Drivers who cross the national highway toll without fastag will have to pay double the charge. All lines will be fastagged from1 January. It will be necessary to keep at least Rs 150 in Fastag account, otherwise, Fastag will beblacklisted.

  8. 5. BUYING A CARWILL BEEXPENSIVE Buying a car will become very expensive from January 1, automobile companies are increasing the price of cars fromJanuary. Some companies have announced increase in the price of vehicles. This includes companies like Maruti Suzuki, Ford India and KiaMotors.

  9. 6. RULES FOR INVESTMENT IN MUTUALFUNDS SEBI has changed the rules for asset allocation for multi-cap mutualfunds. According to the new rules, 75 per cent of the funds will now be required to invest in equity, which is presently a minimum of 65per cent. The structure of multi-cap funds will change. Funds will be required to invest 25-25 per cent in midcap and small-cap. At the same time, 25 per cent will have to be applied inlarge-cap.

  10. 7. CALLS FROMLANDLINE WILL REQUIREZERO To make a call on a mobile phone from a landline, now it will be necessary to apply zero. This will help the telecom companies to make morenumbers. TRAI had recommended 'zero' (0) before the number on 29 May2020.

  11. 8. WHATSAPP WILLNOT WORK INSMARTPHONE From 1 January, 2021 WhatsApp will stop working in some smartphones. It includes both Android and iPhone. WhatsApp will not support old version software. It includes both Android andiPhone.

  12. 9. TERM PLAN WILL BEABLE TO BUY AT LOWPREMIUM IRDAI has directed the insurance companies to introduce a standard term life insurance after introducing a standard regular health insurance plan called ArogyaSanjeevani. In the new insurance plan, there will be an option to buyatermplanforalowerpremium. Along with this, the terms and the amount of cover in thepolicyofallinsurancecompanieswillbethesame.

  13. 10.THERE WILL BE ADDITIONAL CHARGE ON UPIPAYMENT From January 1, 2021 you may have to pay an extra charge for transactions from Amazon Pay, Google Pay and PhonePay. NPCI has decided to impose additional charges on the UPI Payment Service (UPI Payment) run by third party app providers from 1 January,2021.

  14. THANKYOU visit our site for moredetails: https://cavkagrawal.business.site/

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