From January 1, 2021, 10 major changes are going to happen across the country. These changes will have an impact on everyone, common and special. So it is very important for you to know these new rules so that you can also manage your budget accordingly.
The year 2021 is going to bring many big changes. These changes that are going to happen in the new year will greatly affect the life and pocket of the common man. Let us know that from the first day of the year i.e. January 1, many rules related to banking and insurance are going to change. Apart from this, changes are also happening in many other areas. Let us know what big changes are going to happen in the new year.
1-check payment rules will change
From 1 January 2021, the rules for making payment through check will also be changed. After the new rules are implemented, the positive pay system will be applicable for checks paying more than 50 thousand. Under this, the information required for more than 50 thousand checks will be confirmed again. These new rules have been made to make check payments more secure and to prevent bank fraud.
2- ‘Saral Life Insurance’ scheme will be launched
From 1 January, the insurance regulator IRDA has also issued instructions to all life insurance companies to sell a standard individual term life insurance policy. This policy is known as ‘simple life insurance’. It is to be noted that the Maxim Sum Assured of Standard Individual Term Life Insurance Policy will be Rs 25 lakh.
3-cars will be expensive
Buying cars will also become expensive from 1 January 2021. Actually, automobile companies are going to increase the price of many of their models in the new year. After which cars will become expensive.
There will be a change in the price of 4-gas cylinder
On the first date of every month, the prices of LPG cylinders are decided by the government oil companies. During this time, the price can also be increased and the price relief can also be given. In such a situation, the price of cylinder is set to change on January 1.
Change in payment limit through 5-contactless card
The central bank is going to increase the limit of payment through contactless card to 5 thousand rupees from January 1 to promote digital payments. Please tell that at present the limit of paying with contactless card is only 2 thousand rupees.
Only 4GS TR-3B return forms to be filled in 6-years
Businessmen will have to fill only 4 GSTR-3B return forms from January 1 in a year. At present, the businessmen fill 12 such forms. The government has implemented Quarterly Filing of Return with Monthly Payment Scheme only to make the GSTtirn filing process much easier. Businessmen can avail the benefit of this scheme up to a total turnover of Rs 5 crore annually.
7-To call mobile from landline, zero is required.
From 1 January 2021, to call mobile phones from landlines across the country, dialing the number will have to be done before dialing. This will help the telecom companies to make more numbers.
8-Mutual fund investment rules will change
The rules of mutual fund investment are also changing from 1 January 2021. Keeping in mind the interests of investors, market regulator SEBI has made some changes in the rules of mutual funds. After the new rules are implemented, it will be mandatory to invest 75% of the funds in equity, which is currently 65 per cent minimum.
Fastag is mandatory for 9-wheelers
From 1 January 2021, the central government has made FASTAG mandatory for all four wheelers. This will also apply to the old vehicles, which have been sold before December 1, 2017, on the motor vehicles of M and N categories. The advantage of applying fastag on the vehicle will be that the toll can be easily crossed without waiting. After the new rules are implemented, at least 150 rupees will have to be kept in Fastag account.
10-UPI Payment Service Changes
From January 1, additional fees may be required to be paid from Amazon-Pay, Google-Pay and Phone-Pay. NPCI has decided to levy extras on UPI payments service run by third party app providers from 1 January. After which NPCI has imposed a 30% cap on the third year app on the new year .. Paytm is not in this scope.