New Year New Rule

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NEW YEAR, NEW RULES
A direct impact on your budget
VINOD K AGRAWAL ASSOCIATES, CA
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From January 1, new rules will apply to these 10
essential things, which will have a direct impact
on your budget. For all the important things
like tax, electricity, road, mobile, car and
banking
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KNOW HERE WHAT NEW RULES ARE GOING TO APPLY
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1.CHECK PAYMENT
From January 1, 2021, the rules related to check
payments will change. According to the new rule,
positive pay system (positive payment system)
will be applicable for checks paying more than
Rs 50,000. Positive Pay System is an automatic
tool that will check fraud cases through checks.
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2. ELECTRICITY
From 1 January, the Ministry of Power is
preparing to implement new rules for
consumers. Where electricity distribution
companies will have to provide electricity on a
fixed time basis. According to the rule, these
companies will have to provide electricity
connection within 7 days in urban area, 15 days
in municipal area and in rural areas within one
month.
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3. GST RETURN RULES
From 1 January, the Ministry of Power is
preparing to implement new rules for
consumers. Where electricity distribution
companies will have to provide electricity on a
fixed time basis. According to the rule, these
companies will have to provide electricity
connection within 7 days in urban area, 15 days
in municipal area and in rural areas within one
month.
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4. FASTAG REQUIRED ON VEHICLES
Fastag will be required on vehicles to cross the
toll from 1 January 2021. Drivers who cross the
national highway toll without fastag will have
to pay double the charge. All lines will be
fastagged from 1 January. It will be necessary
to keep at least Rs 150 in Fastag account,
otherwise, Fastag will be blacklisted.
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5. BUYING A CAR WILL BE EXPENSIVE
Buying a car will become very expensive from
January 1, automobile companies are increasing
the price of cars from January. Some companies
have announced increase in the price of
vehicles. This includes companies like Maruti
Suzuki, Ford India and Kia Motors.
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6. RULES FOR INVESTMENT IN MUTUAL FUNDS

• SEBI has changed the rules for asset allocation
  for multi-cap mutual funds.
• According to the new rules, 75 per cent of the
  funds will now be required to invest in equity,
  which is presently a minimum of 65 per cent.
• The structure of multi-cap funds will change.
  Funds will be required to invest 25-25 per cent
  in midcap and small-cap. At the same time, 25
  per cent will have to be applied in large-cap.

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7. CALLS FROM LANDLINE WILL REQUIRE ZERO
To make a call on a mobile phone from a landline,
now it will be necessary to apply zero. This
will help the telecom companies to make more
numbers. TRAI had recommended 'zero' (0) before
the number on 29 May 2020.
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8. WHATSAPP WILL NOT WORK IN SMARTPHONE
From 1 January, 2021 WhatsApp will stop working
in some smartphones. It includes both Android
and iPhone. WhatsApp will not support old
version software. It includes both Android and
iPhone.
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9. TERM PLAN WILL BE ABLE TO BUY AT LOW PREMIUM
IRDAI has directed the insurance companies to
introduce a standard term life insurance after
introducing a standard regular health insurance
plan called Arogya Sanjeevani. In the new
insurance plan, there will be an option to buy a
term plan for a lower premium. Along with this,
the terms and the amount of cover in the policy
of all insurance companies will be the same.
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10.THERE WILL BE ADDITIONAL CHARGE ON UPI PAYMENT
From January 1, 2021 you may have to pay an extra
charge for transactions from Amazon Pay, Google
Pay and Phone Pay. NPCI has decided to impose
additional charges on the UPI Payment Service
(UPI Payment) run by third party app providers
from 1 January, 2021.
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THANKYOU
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