Every month sees some kind of change on the first day. In this context, five major changes have taken place on the first day of August, which will impact the common man's pockets. Today, we're going to inform you about these changes.
First change: As part of the first change, the price of commercial gas cylinders has been reduced by up to ₹209 today. Price reductions vary in different states. In Delhi, the cylinder has become cheaper by ₹192, while in Kolkata, the price has been reduced by ₹209.
Second change: Starting today, a token-based system has been introduced to reduce crowding at railway PRS reservation counters. Passengers will now need to obtain a token before purchasing Tatkal tickets from the counters. Once they receive the token, passengers can easily complete their booking by arriving at their allotted time.
Third change: Starting today, a new, upgraded system called Central Know Your Customer (CKYC) 2.0 has been rolled out. Now, when you open a bank account, purchase insurance, or invest in mutual funds/stock markets, all these companies will be able to obtain your KYC information from a single government database, with your consent.
Fourth change: The RBI has updated credit card regulations to enhance transparency in billing. If a customer fails to pay their credit card bill in full, interest on the remaining balance will not include convenience fees, penalties, and taxes.
Fifth change: The deadline for filing returns for the financial year 2025-26 (assessment year 2026-27) for taxpayers filing ITR-1 and ITR-2 forms ended yesterday. Starting today, taxpayers will be required to pay a penalty for filing these returns.
PC: Navbharattimes.indiatimes
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