Several important financial rule changes, deadlines, and price hikes will come into effect from today, June 1, 2023. From LPG cylinder price change to RBI's 100-day, 100-payment campaign, and FAME subsidy cut, take a look at eight changes that you need to know starting today
Electric two-wheeler will get costlier in June as the government has reduced the subsidy amount given to the purchase of electric vehicles under FAME. The maximum subsidy cap of 40% of the EV two-wheeler's ex-factory price has been reduced to 15%. This order of the government will come into effect from June 1, 2023
State-run OMCs cut the prices for commercial LPG on June 1, 2023, and left domestic cooking gas rates unchanged. After the latest revision, the price of commercial LPG cylinders has been cut by Rs 83.50 to Rs 1,773/cylinder. The price of commercial cylinders in Kolkata is now Rs 1,875.50, in Mumbai Rs 1,725, and in Chennai Rs 1,937
Securities Exchange Board of India (SEBI) has introduced a set of rules relating to buying mutual fund (MF) units in the name of minor children through guardians. The new rules will come into effect from June 15, 2023
The Reserve Bank of India (RBI) has initiated an ambitious campaign spanning 100 days, geared towards refunding unclaimed funds. Under this ‘100 Days 100 Pays’ campaign, banks will trace and settle the top 100 unclaimed deposits of every bank in every district within 100 days. This campaign starts today, June 1, 2023
According to the Reserve Bank of India (RBI), new rules for safe deposit lockers require customers to sign a new agreement with their banks. By June 30, 2023, the bank must renew the agreements of at least 50% of its customers. As this deadline holds near, you may also be asked to renew your contract
After giving a series of extensions to the Aadhaar-PAN linking deadline, the Income Tax Department set 30 June 2023 as the new deadline for seeding the two important documents. The Unique Identification Authority of India (UIDAI) has made online updation of Aadhar documents free till June 14, 2023. This service is free only on the myAadhaar portal
The Employees' Provident Fund Organisation (EPFO) has extended the date for filing applications to opt for a higher pension. This is the second time the EPFO has extended the deadline. If you want to opt for a higher pension, you have time till June 26, 2023, to do the same
Taxpayers are required to pay their annual estimated advance tax liability in four installments. On or before June 15, the taxpayer needs to pay 15% of the advance tax. If you miss advance tax payments or delay them, there is penal interest on the taxes due, under section 234C, at the rate of 1% per month/part of the month