Top 10 Financial Rule Changes You Need To Know For FY 26

In this video of BT classroom, Sakshi Batra covers some major financial changes taking effect from April 1, 2025, that will impact taxation, digital payments, banking, and pensions. The income tax exemption limit has been raised, making income up to ₹12 lakh tax-free, with a standard deduction of ₹75,000. UPI users should take note, as inactive UPI IDs will be deactivated by the NPCI for security reasons. The government has also introduced the Unified Pension Scheme (UPS), benefiting central government employees under the NPS with higher payouts and a guaranteed minimum pension of ₹10,000 per month. Senior citizens will see relief with the TDS exemption on interest income increasing to ₹1 lakh per year. Meanwhile, if you haven’t linked your PAN with Aadhaar by March 31, 2025, you won’t receive dividend income, and your TDS will increase. The deadline for filing updated tax returns has also been extended to 48 months from the assessment year. For homebuyers, priority sector lending limits have been raised, allowing higher loan amounts in metro and smaller cities. Banks like SBI, PNB, and Canara Bank are also revising their minimum balance requirements, so maintaining the required balance is crucial to avoid penalties. The government has simplified the calculation of the annual value of self-occupied property, making tax filing easier for homeowners. Lastly, banks will implement the Positive Pay System for cheques above ₹50,000, requiring prior verification to prevent fraud.