These 5 rules related to your money will change from July 1, PF advance will not be available, you will have to pay more charge here


In view of the Kovid-19 epidemic, the government has once again pushed forward many deadlines. But, apart from this, there are some rules which will change from 1 July.

new Delhi. Amidst the corona virus epidemic, the central government has once again extended several important deadlines from June 30 onwards. This includes deadlines for filing annual income tax refunds for FY 2019, annual deposits in small savings schemes and PAN-Aadhaar linking. However, apart from this, there are many such things which will change from 1 July. In such a situation, if you do not pay attention to them, then you may be at a loss. Let’s know which things related to your money will change from tomorrow.

1. ATM withdrawal charge:Immediately after the lockdown, the central government gave relief from the charge on ATM Withdrawal Charge from the ATM. The Finance Minister said that debit card holders can withdraw cash from any bank’s ATM for three months. They will not have to pay any charge for this. The deadline was kept by the Finance Ministry on 30 June 2020. In such a situation, this exemption will end after July 1. If you transact from an ATM of a bank other than your bank, then you will have to pay a charge after a fixed limit.

Generally, any bank gives the facility to transact for free 5 times in a month. For ATMs of other banks this limit is only 3 times. For doing ATM transactions more than this limit, banks charge an additional charge of 8 to 20 rupees from customers. This charge also depends on how much amount the customer has transacted.

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2. After July 1, there is no average minimum balance in any bank account (Savings Bank Account), then the bank will be able to charge a penalty. Every bank determines the minimum balance according to its own. These average amounts have to be maintained in the account every month. Failure to do so, the bank charges a penalty from the customers. However, so far no information has been revealed about extending this exemption from June.

However, even before the Central Government’s announcement, State Bank of India had said that it is removing the obligation of average minimum balance on all savings bank accounts. Talking about two big banks in the private sector, HDFC Bank and ICICI Bank mandate minimum balance. If you do not do this, customers are charged a fixed charge.

3. The Employees Provident Fund Organization (EPFO) had given exemption to EPF account holders to withdraw a fixed amount from their account. Its deadline is ending on June 30. In such a situation, you will not be able to claim PF advance after 1 July. However, for the PF claim, money can be withdrawn under Kovid — 19’s first rule and qualification.

4. Deadline for payment of ‘Sabka Biswas Yojana’, introduced for resolution of old pending disputed cases related to Service Tax and Central Excise. From July 1, you will not be able to take advantage of this scheme. Let us know that the Sabka Vishwas Scheme is the solution to every problem in the tax issue. The government has made it clear that after June 30, it will not increase the deadline of this scheme.

5.Starting 1 July will be very easy. The company can be registered only through Aadhaar sitting at home. The government has issued new guidelines for online registration of the company on the basis of self-declaration (self-declaration). The new guidelines will be effective from July 1, 2020. Now many types of documents have to be submitted to get the company registered. The information of the portal will be made public before July 1, 2020. On June 1, 2020, the Ministry of Micro, Small and Medium Enterprises had notified the new norms for classification of MSMEs based on investment and business. The new norms are going to be effective from July 1, 2020.


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