From the beginning of the new year, i.e. January 1, 2021, many rules related to your daily life are going to change. These include Fastag, GST, Gas Cylinder, Insurance, Check Payment, Calling, WhatsApp, Train Prices etc. If you ignore some rules it can also hurt you. But in some places you will also benefit. From January 1, the Positive Pay System (Positive Payment System) will be applicable for checks over Rs 50,000. In addition, the price of the cylinder will change from January 1. But the price of LPG has doubled in December, now it remains to be seen whether oil companies will increase the price of cylinders in the new year. Let’s find out about these rules ..
1 will change the mode of payment by check
The Positive Pay system is an automated tool that will check and check fraud. Under this, the person giving the check will have to electronically re-state the date of the check, the beneficiary, the name of the recipient and the amount paid. The person issuing the check can provide this information electronically such as SMS, mobile app, internet banking or ATM. After that, these details will be cross-checked before the check is issued. If any irregularity is found, the check will not be issued and the bank branch will be informed about it. Banks will apply the new rules for all payments of Rs 50,000 and above for account holders.
The price of 2 cylinders will change
Oil companies set the price of LPG cylinders at the beginning of each month. In other words, the price of a cylinder will change from January 1. However, instead of raising the price on December 1, the oil companies have increased the price on December 2. So far, LPG prices have risen twice in December. Companies have increased the price of cylinders by a total of Rs 100 crore this month. Now it remains to be seen whether the oil companies will increase the price of cylinders in the new year.
The 3 term planning policy will be available in less than 1 January
From January 1 of the new year you will be able to buy a general life insurance policy (Standard Term Plan) for a lower premium. The Insurance Regulatory Authority of India (IRDA) directed insurance companies to introduce a standard term life insurance after introducing a standard regular health insurance plan called Arogya Sanjivani. Following the same guidelines, insurance companies are going to introduce general life insurance policies from January 1. In the new insurance plan, there will be an option to purchase a term plan for lower premiums. Also, the terms and amount of cover will be the same in the policy of all insurance companies.
EPFO: Don’t forget to check the PF account on January 1, it will increase the account
4 GST will change the procedure for submitting returns
The government has launched a scheme for filing quarterly returns and monthly tax (QRMP) for small taxpayers under the Goods and Services Tax (GST) system. Those taxpayers who have an annual turnover of up to Rs 5 crore in the last financial year and those who have submitted their GSTR-3B (sales) returns by November 30, 2020 are eligible for this scheme. At its meeting on October 5, the GST Council said that registered persons with a cover of up to Rs 5 crore could be allowed to file returns on a quarterly basis and pay tax on a monthly basis from January 1, 2021.
Fastag will be mandatory 5
The Union Ministry of Road Transport and Highways has made Firstag mandatory for four wheels from January 1, 2021. To promote digitalisation, the central government is completely eliminating cash transactions in all toll plazas across the country.
The limit of 6 transactions will be increased through communication card
The Reserve Bank of India (RBI) is set to change the rules for non-communication transactions from ATM cards and UPIs. The limit for non-communication transactions from RBI UPI is being increased from Rs 2,000 to Rs 5,000 and this facility will be applicable from January 1.
RBI: From January 1, the rules for issuing non-contact cards will change, find out the benefits and risks
7 must be zero before making a call from landline to mobile
To make calls to mobile phones from landlines across the country, it will be mandatory for customers to zero in before the number from 1 January. The Department of Telecommunications has accepted TRAI’s proposal in this regard. This will help telecom companies to create more numbers.
8 WhatsApp will not work on these mobiles
From the new year, Android 4.3 and iOS-9 will stop running WhatsApp on smartphones with the old operating system. WhatsApp discontinues support for older iOS and Android smartphones every year. Customers who are using older operating systems need to upgrade their phones.
9 cars will be expensive from next month
From next month, many car companies will raise the prices of their vehicles. Companies are raising prices due to rising prices of steel, aluminum and plastics. In that case if you want to buy these cars at the current price, you have to buy the car by 31st December. Companies that raise prices include MG Motors, Renault, etc.
Interest on 10 pf
The Employees Provident Fund Organization (EPFO) will deposit a total of 5.5 percent interest in the Employees Provident Fund (EPF) accounts of about six crore shareholders for the next seven days for the fiscal year 201-2017. In such cases, interest will be credited to the shareholders’ accounts before January 1 of this month.
11 can be expensive TV, fridge washing machine
In the new year 2021, the prices of LED TVs, refrigerators, washing machines and some other home appliances may increase by 10 percent. The main reason for this is the rise in prices of copper, aluminum and steel. Maritime and aviation have also increased. TV panel prices have risen 200 percent, while plastic has also become more expensive due to rising crude prices. That is why Panasonic India, LG and Thomson have decided to increase the prices of their products from January. Sonny said he is taking care of the situation right now. After that he will decide to increase the price.
New Year’s push: TVs, refrigerators and washing machines will be expensive from January, could rise 10%