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1 October: These Changes have been implemented from today, this 11 changes will affect you

From the first date of every month, some new rules or changes apply in the country. This is going to happen in October also. Many major changes related to tax, health insurance, motor vehicle etc. are coming into effect in the country from 1 October. Apart from this, new guidelines of Unlock 5.0 are also being implemented. Let’s know about some such new rules and changes, which are coming into effect from today.

Unlock 5 guidelines

The Ministry of Home Affairs has issued new guidelines for the 5th phase of unlock (Unlock 5.0) in the country. This will lead to more activities in areas outside the Containment Zones in the country. Strict lockdown will continue in the Containment Zones until 31 October. Unlock 5 guidelines come into effect from October 1, 2020, under which cinemas, theatres, multiplexes, entertainment parks, swimming pools used for training people in sports, business to business exhibitions will be allowed to open from October 15. . Read this in detail…Unlock 5.0: New guidelines soon announced, where you can get ban

Health insurance

The rules related to your health insurance policy are going to change from 1 October. These changes are going to be in accordance with the guidelines issued by the Insurance Regulatory and Development Authority (IRDAI), which will provide many benefits to the insured. Now the insured will be able to pay the premium in installments, more diseases will be covered at an affordable rate under all the existing and new health insurance policies. Also, after completing eight consecutive years, the health insurance claim will not be denied.

Apart from this, giving relief to the insured, IRDAI has instructed health and general insurance companies to include telemedicine in the claims settlement policy. Telemedicine nowadays is important in times of personal distance.

These rules related to health insurance will change from October 1, to the insured

Google Meet related changes

From 1 October, video calling will not be available on Google Meet for free until unlimited time. The money will have to be paid for this. However, users will be able to make a video call on Google Meet for free for 60 minutes. The service of Google Meat App is free for everyone right now. Now, this app is shifting to payment mode for calls till unlimited time. Now only 60 minutes of video calling can be done for free.

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It is not necessary to keep the physical document of the vehicle with you

From 1 October 2020, vehicle-related documents including driving license and e-challan will be maintained through IT portal. Physical documents will not be demanded in lieu of vehicle documents found to be valid electronically during the inspection of vehicle documents. The details of driving license disqualified or revoked by the licensing authority will be recorded in the portal and it will be updated from time to time.

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You can see the route on mobile while driving

Since October 1, handheld communication devices have been allowed to be used only for route navigation while driving. However, during this time they will be used in such a way that the driver’s concentration is not disturbed while driving the vehicle. However, a fine of 1 thousand to 5 thousand rupees can be imposed for talking to mobile while driving.

TVs will become expensive

Five percent customs duty is being imposed on the import of open-cell used in TV manufacturing from October 1. This fee is being levied after the one-year grace period ends. The television industry argues that with the 5% customs duty on open cells, the price of television will increase by about 4%. The price of 32 inch television will increase by Rs 600 and the price of 42 inch will increase by Rs 1,200 to 1,500. Larger size televisions will increase in price.

Changes in tax-related rules

1. The Income Tax Department has decided to extend the scope of TCS under section 206C (1G) and also apply it to the Liberalized Remittance Scheme (LRS). TCS will apply if money is sent out of the country by a customer in a financial year from 1 October 2020 to 7 lakh rupees or more. Its rate can range from 0.5 percent to 10 percent. The new TCS provisions will apply to all foreign remittances approved under LRS. If the remittances are done for the Overseas Tour Program Package, then 5% TCS will be applicable to all remittances, even if the amount is less than 7 lakhs. A new provision has also been made that 0.1 percent TCS will be applicable on the sale of goods worth more than Rs 50 lakh in a year.

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2. The Central Board of Direct Taxes (CBDT) has said that any seller can deduct tax at source (TCS) from October 1, 2020 only if his business has been more than Rs 10 crore in the last financial year. The seller of goods will collect tax at the rate of 0.1 per cent (0.075 per cent by 31 March 2021) if the receipt from the sale from a buyer exceeds Rs 50 lakh in the financial year. This TCS will be applicable only on the amount received on or after 1 October 2020 this year. Exports of goods are exempted from the provision of TCS.

New rule from October 1: TCS will be sent more than Rs 7 lakh sent out of the country

3. The e-commerce operator has been empowered to charge an income tax at the rate of one per cent on the total value of goods or services or both from 2020 through its digital or electronic facility or platform.

Natural gas becomes cheaper

Natural gas has become cheaper from 1 October. The government has cut the price of natural gas by 25 percent. Now its price has reached a record low of $ 1.79. The price of natural gas reaching the house through CNG and pipes will be reduced due to the decrease in price. The new prices will be applicable for six months from October 1. The price of natural gas is reviewed every year on 1 April and 1 October. Natural gas is used to make CNG for powerhouses, fertilizer factories and vehicles.

The expiry date will be on sweets

Now the sweet shopkeeper will have to give a time limit for the use of open sweets. Consumers will have to inform about the time limit for how long it will be good to use sweets. Food regulator FSSAI has made it mandatory from 1 October 2020.

Free gas cylinders will not be available under Ujjwala scheme

The period of free gas cylinders under the Prime Minister Ujjwala scheme ended on 30 September 2020. The government gives free LPG connections to the poor under this scheme. Due to Corona, free cylinders were also given under this scheme, the last date of which was extended from April to September.

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Doorstep banking

Financial and non-financial banking services will be available at home from October 2020 to customers under the doorstep banking service of Public Sector Banks (PSBs). At present, only non-financial services like pick up of check/demand draft/pay order etc., pick up of Form 15G / 15H, pick up of IT / GST challan, account statement request, delivery of term deposit receipt etc. Only available But from October 2020 financial services will also be available at home. Customers of PSBs will be able to get them at home on a nominal charge. In the same way, there are many more.

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Source: www.financialexpress.com

Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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