New Money Rules in Effect This Month
As a new month begins, it’s important to be aware of new rules related to money. Failing to know these rules could lead to trouble. Let’s take a look at the key changes:
Rs 2000 Currency Notes Update
The Reserve Bank of India has announced that it will stop the circulation of Rs 2,000 currency notes. If you have these notes, you must exchange them at the bank by September 30. After this date, the status of these notes will change.
Link Your Ration Card
Ration card holders need to link their card with their Aadhaar card. The deadline for this linkage has been extended from June 30 to September 30. This linking is necessary to avail benefits from schemes like Antyodaya Anna Yojana and Priority Housing Schemes.
LIC Dhan Vridhhi Policy
LIC has introduced a single premium policy called LIC Dhan Vridhhi. Paying a one-time premium can yield 10 times the profit. This policy can be acquired until September 30.
Sukanya Samriddhi Yojana Requirements
Depositors in the Sukanya Samriddhi Yojana scheme need to provide their Aadhaar and PAN card details. Those who already provided these details during account opening are exempt. For all small amount savings schemes, Aadhaar must be submitted by September 30. PAN is required for deposits over Rs.1 lakh.
Monthly Changes in LPG Gas Cylinder Price
The price of LPG gas cylinders can change every month. Oil companies review and adjust prices on the first day of each month. Keep an eye out for changes on September 1.
Second Advance Tax Installment
For those with higher incomes, the deadline to pay the second advance tax installment is September 15. This helps individuals pay their taxes to the government in advance.
Aadhaar for MGNREGA Workers
Aadhaar linkage is vital for workers under MGNREGA. From September 1 onwards, payments for the National Rural Employment Guarantee Scheme will be made through Aadhaar-based transactions.
Mera Bill Mera Adhikar Scheme
The Central Government is introducing the Invoice Incentive Scheme called ‘Mera Bill Mera Adhikar.’ When you pay GST during shopping or for services, you can enter the invoice into a lucky draw for a chance to win Rs. 1 crore. This scheme launches on September 1.