Winning Bizness Desk

Mumbai. India come up with some big or small changes in its economic polices and October 2024 not going be any exception. This month also coming with it a slew of changes that will impact your daily life and finances. From gas cylinder prices to Aadhaar card usage and even small savings schemes, several rules are set to be revised. These changes are likely to have varying impacts on your finances. It's advisable to review your financial plans and adjust accordingly to navigate these changes effectively. "Winning Bizness" tells you a breakdown of the key changes:

1. Gas Cylinder Prices

The price of LPG cylinders is adjusted monthly. Expect new rates to take effect on October 1, potentially impacting your household budget.

2. Aadhaar Card for PAN and ITR

Starting October 1, you'll need your Aadhaar number to file your Income Tax Return (ITR) or apply for a PAN card. The Enrollment ID will no longer be accepted.

3. Railways' Ticket Checking Drive

To address the increased number of passengers during the festive season, Railways will launch a special ticket checking campaign from October 1.

4. Post Office Account Interest Rates

Interest rates on National Small Savings Scheme accounts, including Post Office accounts, will be revised on October 1. This could affect your interest income.

5. CNG and PNG Rates

The rates of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) are adjusted monthly. Expect changes to take effect on October 1.

6. SEBI's T+2 Rules for Bonus Shares

The Securities and Exchange Board of India (SEBI) has introduced new rules for trading bonus shares. Effective October 1, bonus shares will be traded on a T+2 basis, reducing the time between the record date and trading.

7. Changes to Small Savings Schemes

The Ministry of Finance has issued guidelines to regularize wrongly opened accounts under the National Small Savings Scheme. This will streamline processes for accounts like PPF and Sukanya Samriddhi.

8. Increase in Security Transaction Tax (STT)

The STT on futures and options (F&O) trading will increase from 0.0625% to 0.1% on October 1. This will impact the cost of buying and selling options in the derivatives market.

9. Dispute Se Vishwas Yojana

The Central Board of Direct Taxes (CBDT) has announced the implementation of the "Dispute Se Vishwas Yojana 2024" from October 1. This scheme aims to settle income tax disputes and dispose of pending cases.

10. Changes to HDFC Credit Card Loyalty Program

HDFC Bank's credit card loyalty program will undergo changes. Redeeming reward points for Apple products on the SmartBuy platform will be limited to one product per calendar quarter.