Many laws are amended from 1 July 2021 eg Thursday. Many changes are related to banking services. Some of the changes are related to taxes, driver’s license and vehicle prices. What these changes, which may affect you, let us tell you.
The rules will apply instead of SBI
From July, SBI customers will have to pay extra cash withdrawals at ATMs and by using checks. Withdrawing money from SBI ATM or bank branch 4 times a month will be free. After this, Rs 15 and GST will have to be paid on the withdrawal. It will now pay extra for taking the test book. Only 10 pages of the check can be used in the financial year without payment. If a check is used in excess of this, a fee will have to be paid. how much money? After the 10th page of the first check is completed, the next 10 pages will deduct Rs 40 and GST. The next 25-page checklist will draw Rs 75 and GST. However, adults have been granted exemption from this.
Withdrawals from IDBI Bank are also expensive
IDBI Bank made changes to the payment of check sheets, savings account savings and payments from July 1. The bank also changed the rules for investing in local and international branches. Previously, there was no charge for investing in cash 7 times in urban areas and 10 times in rural branches. It has now been reduced to 5 times. Apart from this, customers will now receive only 20 pages of a free checkbook every year. Previously a 60-page checkbook was available for free in the first year of account opening. In the years that followed, the bank used to offer 50-page page books. However, after 20 pages, customers will have to pay Rs 5 per check. Adults will receive a cupboard discount only when their Monthly Average Balance (MAB) is 10 thousand.
Changing the IFSC of Syndicate Bank
Syndicate Bank is affiliated with Canara Bank. IFSC banking codes are being changed from July 1. Customers at Syndicate Bank will now be required to receive a new IFSC code for their bank branch. Canara Bank said all IFSC codes starting with SYNB will not be effective from July 1.
TDS will be deducted from purchasing more than 50 lakhs
Section 194Q has been added to the Income Tax Act. This section applies to TDS prepaid on a prepaid price to purchase an item. Under the new category, 0.10 percent TDS will be deducted from business purchases in excess of Rs 50 lakh. If the entrepreneur’s profit was ten thousand or more last year, then this year you will be able to buy goods for only 50 lakhs. TDS will be pulled over this.
From July 1, 206 the AB phase will also be operational. If the seller has not submitted income tax returns for two years, the TDS will be 5%.
car prices were rising
Maruti Suzuki India cars and Hero bikes are expensive from July 1. Hero raises the prices of scooters and motorcycles by up to three thousand. At the same time, Maruti will also increase the prices of most of its vehicles. The reason for this increase is believed to be an increase in the prices of metal, plastic and aluminum.
LPG price review
Oil companies review LPG cylinders at the beginning of the month. It is possible that from July 1, 2021, there may be a change in the price of LPG cylinders in the country. Factors such as changes in international banking benchmarks and exchange rates determine the value of the LPG.
There is no need to visit the RTO to get a study license
You will no longer need to go to the RTO to obtain a Learner’s Driver’s License. As well as applying online, the test can also be offered at home. After passing the exam, a study license will be delivered to your home. However, to obtain a permanent license, the vehicle must be shown driving on a specified track.
Jewelry will get a different identity
As soon as citizens are identified with the UID on the Aadhar card, the government will enforce Unique Identification (UID) compulsory on every piece of jewelry marked from July 1. In this UID, merchant code and jeweler IDs are recorded. As soon as the police or someone else enters the UID on the BIS mobile app, then it will be known when and where it was purchased. The jewelry retailer will also have information about the customer from whom they are selling the UID jewelery.