1 August Will change These 10 rules 2020

1  August Will change These 10 rules 2020

There are going to be a lot of big changes starting tomorrow, August 1st.  Which can affect your financial transactions.  From tomorrow PM Kisan amount, impact on e-commerce, price of LPG, Sukanya Samrudhi Yojana, minimum balance in banks, tax saving investment, income tax return, vehicle purchase, Vande Bharat mission change will be seen

●1.The amount of PM Kisan will come in the account of the farmers

The sixth installment will be given to farmers under the PM Kisan Sanman Nidhi Yojana.  The Modi government will deposit the sixth installment of Rs 2,000 in farmers' bank accounts from August 1 tomorrow.  The government has provided cash benefits to 9.85 crore farmers in the country since the inception of the scheme.  Let me tell you, the fifth installment of the scheme was given on April 1, 2020

●2.E-commerce companies must provide information on the country of origin of the product

The origin of the product will be required from e-commerce companies from August 1.  Where the product is made, who made it.  However most companies have already started providing this information.  That includes companies like Flipkart, Mintra and Snapdeal.  The Department for the Promotion of Industry and Internal Trade (DPIIT) has asked all e-commerce companies to update the country of origin of their new product listings by August 1.  This has been done to enhance the Make in India product.  The first step has been taken from this self-reliant India

●3.The cost of LPG

Oil marketing companies announce new prices for LPG cooking gas cylinders and air fuel on the first of every month.  Prices have been rising for the past few months.  LPG prices may go up tomorrow, August 1.  You have to be mentally and financially prepared for this

●4.Sukanya Samrudhi Yojana

The Postal Department facilitated the customers of Sukanya Samrudhi Yojana in view of the lockdown.  The Postal Department allowed a daughter who has completed 10 years of age in the lockdown period between 25 June 2020 and 30 June 2020 to open an SSY account until 31 July 2020.  Under the scheme, the daughter has to open an account at the age of 10

●5.Banks need to have a minimum balance

Most banks have announced charges on minimum balances from August 1 to increase their cash balance and digital transactions.  At the same time, these banks will also charge after three free transactions.  The charge will be applicable to Bank of Maharashtra, Axis Bank, Kotak Mahindra Bank and RBL Bank from August 1.  Holders of savings accounts in Bank of Maharashtra will have to maintain a minimum balance of Rs 2,000 in their account in metro and urban areas as against Rs 1,500 earlier.  For balances below Rs 2,000, the bank will charge Rs 75 per month in metro and urban areas, Rs 50 per month in semi-urban areas and Rs 20 per month in rural areas

●6.RBL bank savings account rules changed

Currently, RBL has not changed the interest rate on savings account.  However, the new rules will come into effect from August 1 tomorrow.  Now you will get 4.75 per cent annual interest for depositing Rs 1 lakh in a savings account.  Deposits of Rs 1-10 lakh will earn 6 per cent and deposits of Rs 1 lakh to Rs 5 crore will earn 6.75 per cent interest.  The bank has also changed some other rules, saying that if a debit card is lost or damaged, a charge of Rs 200 will be levied.  Now you have to pay Rs 250 annually for a Titanium debit card.  While the customer will be able to withdraw money from ATM 5 times for free for one month

●7.Last chance to invest tax savings

The CBDT had extended the last date for making tax savings investments for the financial year 2019-20 to July 31.  If you have not yet invested in tax saving investment plans to get income tax exemption, you have one last chance today

●8.Deadline for filing an income tax return

The deadline for filing original or revised income tax returns for the financial year 2018-19 is 31 July 2020.  So, for those who have not yet filed this income tax return, today is the last chance.  At the same time, the government announced in a press release on 13 May 2020 that the deadline for filing income tax returns for the financial year 2019-20 has been extended from 31 July 2020 to 30 November 2020

●9.Buying a car and a bike will be cheaper

A change in motor vehicle insurance could make buying a new car or bike cheaper from next month.  Millions of people will benefit from this during Corona.  Irda said buying a new vehicle could be costly for people due to the long-term package policy.  If you also want to buy a new car or bike you will have to spend less money on auto insurance after 1st August.  IRDA is going to change the rules related to motor third party and on damage insurance.  People who buy a new car after this rule will not need to insure a new car for 3 and 5 years

●10.The 5th phase of Vande Bharat Mission will begin

The Central Government has decided to launch Vande Bharat Mission Phase-5 to repatriate Indian nationals stranded abroad due to coronavirus.  Recently, this information was given by Civil Aviation Minister Hardeep Singh Puri on Twitter.  According to the Union Minister, the fifth phase of the Vande Bharat Mission will start from August 1 and run till August 31.  Phase-II will bring back Indians from many countries including USA, Canada, Qatar, Oman, UAE, Australia, Germany, Thailand, Singapore, UK, Saudi Arabia, Bahrain, New Zealand, Philippines.  In the fifth phase, the government has included many countries.  The fourth phase has so far scheduled 1197 flights, including 945 international and 252 feeder flights.  According to the Union Minister in a tweet, 8.14 lakh Indian nationals have been repatriated so far under the Vande Bharat Mission.  Of these, 2.70 lakh Indians have been flown in from 53 countries

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