These rules changing from today, will effect you directly
Saturday - September 1, 2018 12:09 pm ,
Category : INDIA
There are many things going to affect you in changing way from September 1, 2018. Now the facility of free travel insurance is being optional on the e-ticket from IRCTC on the train. Besides, the rules of third party insurance have also changed. New provisions related to income tax department income tax return from 1 September will also be applicable. Apart from this, postal department is also going to start a great new service. Know and what will be the big change:
India Post Payments Bank
The India Post Payments Bank, which is a wholly-owned postal department, will start from September 1. This bank will be different from the common banks in many ways. This will be the first such bank of the country, which will provide banking services at home. The service will be provided by the Postal Department through its Postal Servants and Postmen spread across the country. While the normal interest bank gives around 4 per cent on the savings account, the postal department's payment will give 5.5 per cent interest on the bank savings account.
No free insurance in rail travel
Insurance up to Rs 10 lakh with train ticket will no longer be available for free passengers. Railway is going to discontinue this facility from September 1. The facility was available with the ticket till date, whether or not the passenger travel insurance option was selected. Under the new arrangement, while booking tickets from IRCTC website, travelers will get 2 options. There is opt-in (to get travel insurance) and opt-out (not to take travel insurance) options. After the railway's decision, it will depend on the passenger's desire to travel whether he wants to do the insurance or not.
Car and bike purchase will be expensive
If you buy cars and bikes from September 1, then you have to pay more for them. Indeed, after the Supreme Court order, IRDAI issued new rules for third party insurance. There will be 5 years of third party insurance for the bike and 3 years of insurance for the car. It is only 1 year old. Due to this you will now have to pay premium for 2-year third party insurance when you buy a car.
Penalties on ITR filing
If you file an income tax return from September 1, then you will have to pay a penalty now. For the income of less than Rs 5 lakh, a penalty of Rs.1 thousand will be imposed. If the income above Rs 5 lakh earns the returns by December 31, then they will have to pay a penalty of 5 thousand rupees. For filing of returns from 1st January, 2019, a penalty of Rs 10,000 will be given.
