Key Financial Rule Changes: As March ends, a new financial year is knocking. From April 1, 2025, i.e. today, many important financial rules are going to change in India, which is very important for every citizen and taxpayer to know. These changes will not only affect your income but will also be visible in the ways of spending, saving and digital transfer.
Table of Contents
1. Income up to ₹12 lakh Tax-Free: Key Financial Rule Changes
In the last budget, the Narendra Modi government had announced a big relief to the middle class. While presenting the budget, Finance Minister Nirmala Sitharaman said that now there will be no tax on income up to Rs 12 lakh. But this exemption will be given only to those who choose the new tax regime for filing income tax returns.
In the new tax regime, the limit of basic tax exemption has also been increased from Rs 3 lakh to Rs 4 lakh. That is, those earning more than Rs 12 lakh annually will not have to pay any tax on an income of Rs 4 lakh. In the new tax system, income up to Rs 12 lakh is completely tax-free. Apart from this, the salaried class will also get the benefit of a standard deduction of Rs 75,000, due to which the total salary of ₹ 12.75 lakh will be tax-free.
2. UPI Will be Closed if the Number is Inactive: Key Financial Rule Changes
National Payments Corporation of India (NPCI) has implemented new guidelines to enhance Unified Payment Interface i.e. UPI security. If your mobile number linked to UPI is not active for a long time, then it will not be possible to make payment from that number from 1April .
If your number is inactive for a long time and you do not want to close the UPI payment system, then get it recharged.
3. Changes in Credit Card Rewards: Key Financial Rule ChangesThe
State Bank of India (SBI) and Axis Bank are changing the reward point policies of some of their credit cards. The reward structure on SBI SimplyCLICK and Air India SBI Platinum cards will change. Changes in Axis Bank’s Vistara Cards will be implemented after the Air India merger.
4. New Pension Scheme (UPS): Key Financial Rule Changes
The Modi government had announced the Unified Pension Scheme (UPS) in place of the Old Pension Scheme (OPS), which has come into effect from today, April 1. Central employees with 25 years or more of service will get a pension of 50% of the average basic salary of the last 12 months.
5. MFA is required in GST Rules Key Financial Rule Changes
Multi-factor authentication (MFA) has now become mandatory on the Goods and Services Tax (GST) portal. E-Way Bills can now be generated only on those documents that are not older than 180 days. This change will directly affect the business sector.
Explained – Big money rule changes from April 1
— IndiaToday (@IndiaToday) April 1, 2025
Starting April 1, the new financial year brings key changes affecting taxpayers, salaried individuals, and consumers across India. Stay informed about tax updates, banking revisions, and digital transaction security!… pic.twitter.com/lQ0ibaXsg1
6. Big Bank Rule: Key Financial Rule Changes
Big banks like the State Bank of India (SBI), Punjab National Bank (PNB) and Canara Bank are changing the minimum balance limit. If the balance in your account is less than the prescribed limit, then you will have to pay a penalty. This change is necessary for those account holders who live in small towns or rural areas.
All these changes coming into effect from 1st April today will affect every Indian who is associated with income, savings, expenditure and UPI transfer. Smart financial planning and correct information will be your biggest strength in this era of change.
Jay Chavda He is the Founder and Writer of businesspulsecare.com. He is an I.T Engineer, Freelancer, Businessman. He posts Business, Stock/Share Market, Finance Related News and updates on the website. 🔗