The commencement of the new financial year will bring about various income tax adjustments, including the introduction of new income tax rules and slabs under the New Tax Regime 
Special 
The commencement of the new financial year will bring about various income tax adjustments, including the introduction of new income tax rules and slabs under the New Tax Regime April 2025 marks the implementation of several significant financial regulatory changes, primarily influenced by the Securities and Exchange Board of India (SEBI) and adjustments to the existing tax regime. These changes are designed to bolster transparency and investor protection across various financial sectors.
SEBI has implemented stringent regulations on new fund offers (NFOs), mandating that asset management companies (AMCs) deploy funds raised within 30 business days from the date of unit allotment. An extension of 30 additional business days is permissible with Investment Committee approval. Should funds remain undeployed beyond this period, the AMCs will be required to halt fresh inflows, offer penalty-free exits to investors, and issue notifications regarding the delay. This move aims to ensure better fund management and accountability within the mutual fund industry.
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In another significant development, SEBI has introduced Specialised Investment Funds (SIFs), which are positioned between Mutual Funds and Portfolio Management Services (PMS). These funds offer flexible investment strategies but require a minimum investment threshold of Rs 10 lakh. Only AMCs managing an Assets Under Management (AUM) of ₹10,000 crore or more over the past three years can launch these funds.
Additionally, integration with DigiLocker will enable investors to digitally store and access their Demat and mutual fund holdings, reducing the risk of unclaimed assets and simplifying nominee access.
UPS
The Unified Pension Scheme (UPS) will also come into effect from April 2025, offering central government employees under the National Pension System a pension based on service tenure. Employees with at least 25 years of service will receive a pension equivalent to 50% of their last 12 months’ average basic salary, ensuring financial security post-retirement. This scheme is part of broader efforts to enhance pension benefits for government employees.
Tax-related changes
Significant tax changes accompany these regulatory shifts. The commencement of the new financial year will bring about various income tax adjustments, including the introduction of new income tax rules and slabs under the New Tax Regime outlined in the Union Budget for 2025-26.
The exemption slab under the new income tax regime will increase from Rs 7 lakh to Rs 12 lakh, offering middle-class taxpayers more relief. This revision is aimed at providing financial ease and increasing disposable income for a broader section of taxpayers. Moreover, the government has taken steps to integrate technology by updating tax filing systems for improved efficiency and compliance.
| Annual Income Range | Tax Rate |
|---|---|
| ₹0 – ₹4,00,000 | Nil |
| ₹4,00,001 – ₹8,00,000 | 5% |
| ₹8,00,001 – ₹12,00,000 | 10% |
| ₹12,00,001 – ₹16,00,000 | 15% |
| ₹16,00,001 – ₹20,00,000 | 20% |
| ₹20,00,001 – ₹24,00,000 | 25% |
| Above ₹24,00,000 | 30% |
| Annual Income Range | Tax Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
Credit cards
Credit cardholders, particularly those using the SBI Card, will observe adjustments in reward point structures. SimplyCLICK and Air India SBI Platinum Credit Cardholders are set to experience changes in their rewards. Additionally, Axis Bank will revise its Vistara Credit Card benefits following Vistara's merger with Air India, removing several complimentary perks. These strategic revisions reflect ongoing corporate adjustments in response to shifting market dynamics and consumer preferences.
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