Punjab Newsline | New Delhi
April 1 marks the beginning of the new financial year, bringing several important changes that will directly impact daily life and finances. The year has started with a sharp increase in commercial LPG cylinder prices, as government oil companies have raised rates by up to ₹218. Along with this, a total of 15 major changes related to rail ticket rules, FASTag, toll payments, income tax, salaries, and banking have come into effect.
Oil companies have increased the price of commercial LPG cylinders by up to ₹218. Chennai now has the highest rate at ₹2,246.50, while in Delhi the price has reached ₹2,078.50. Higher cylinder prices will increase costs for restaurant owners, which may lead to costlier tea, snacks, meals, and even wedding catering services.
Train Ticket Cancellation Rule Revised
Passengers can now cancel train tickets only up to 8 hours before departure to get a refund. Earlier, this limit was 4 hours. However, passengers can still change their boarding station up to 30 minutes before departure. Travelers will need to plan cancellations earlier to avoid losing money.
No Cash at Toll Plazas
Cash transactions have been completely discontinued at toll plazas. Payments can now only be made via FASTag or digital methods like UPI. Those without FASTag or sufficient balance may face inconvenience, as cash is no longer accepted.
FASTag Annual Pass Becomes Costlier
The National Highways Authority of India has increased FASTag annual pass prices by 2.5%.
The pass will now cost ₹3,075 instead of ₹3,000, but it still allows seamless travel across around 200 toll plazas.
Vehicles Become More Expensive
From April 1, prices of commercial and passenger vehicles have increased by 2% to 3%.
Buyers who booked vehicles but did not get invoiced before March 31 will now have to pay higher prices, including increased registration charges.
PNB ATM Withdrawal Limit Changed
Punjab National Bank has revised ATM withdrawal limits. Classic debit card holders can withdraw up to ₹25,000 per day, while Platinum card holders can withdraw up to ₹50,000.
Customers needing more cash will have to visit the bank and use cheque or withdrawal forms. The move aims to reduce fraud.
Basic Salary Rule Under New Labour Code
Under the new labour code, an employee’s basic salary must now be at least 50% of their total CTC. Allowances cannot exceed 50%.
In-hand salary may decrease as contributions to PF and gratuity increase. However, this will significantly boost retirement savings.
Full and Final Settlement Within 2 Days
Earlier, it could take up to 90 days for employees to receive their dues after leaving a job. Now, companies must settle all payments within 2 working days of the last working day.
Employees changing jobs will receive their dues much faster and can file complaints if companies fail to comply.
PAN Card Update Rules Changed
Aadhaar is no longer accepted as valid proof of date of birth for PAN card applications. It will now be used only as address proof.
Applicants must provide additional documents like a birth certificate or Class 10 marksheet for DOB verification.
New Tax Forms Introduced
Form 16 (for TDS) and Form 16A formats have been revised and replaced with Form 130 and Form 131.
The new forms will provide more detailed tax calculations and deductions, reducing errors while filing income tax returns.
Overall, these changes are expected to have a direct impact on household expenses, travel, salaries, and taxation, making financial planning even more important in the new financial year.