New Delhi: As the new month kicks off in few days, there are several rules which will come into effect. The new rules going to take effect from October 1, 2024, include banking and tax rules. This may have a direct or indirect impact on your finances and investments.
Here are the details of the rules going to change from October 1.
Small Savings Schemes
New adjustments will be applied to small savings accounts, including the Post Office Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY). Make sure to check how these changes might impact your savings.
ICICI Bank Debit Card Charges
ICICI Bank will introduce new debit card benefits. From October 1, if you spend Rs 10,000 in a quarter, you will receive two complimentary airport lounge accesses in the following quarter. For example, to qualify for lounge access in the October-December quarter, you must spend the required amount in the July-September quarter.
HDFC Bank Credit Card Rules
HDFC Bank is implementing new rules regarding reward points. Customers can now redeem points for Apple products only once every calendar quarter. Additionally, redemptions for Tanishq vouchers will be capped at 50,000 reward points each quarter.
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TDS on Property Sales
Changes to tax rules will affect the sale of immovable property. Starting October 1, if you sell a property for more than Rs 50 lakh, a 1 per cent Tax Deducted at Source (TDS) will be required on the payment.
PNB Service Charges
Punjab National Bank (PNB) has updated some service charges for savings accounts. This includes fees related to maintaining a minimum balance, issuing demand drafts, duplicating documents, and locker rentals.
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