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Financial Changes From 1 August: These 7 big changes implemented from today, know what will be the effect on you

Rules Changing From 1 August 2022: From today the month of August has started. Many changes in your financial life are going to be implemented from today. In these, there are many changes like the implementation of the positive pay system of BOB to the penalty for filing income tax returns, which you need to be aware of.

Bank of Baroda’s positive pay system implemented
From today, Bank of Baroda customers will have to follow the positive pay system while making check payments. This is a system in which you have to enter the digital information of a check issued for more than Rs 5 lakh. In the check, you have to enter the beneficiary name, account number, amount, check number etc. through SMS, ATM, Internet Banking and Mobile Banking. After this all these information will be cross verified and only then the check will be cleared. This whole system is called BOB Positive Pay System.

LPG price cut
The price of LPG has been cut from today and Indian Oil Corporation has cut the price of 19 kg commercial LPG cylinder by Rs 36. Commercial LPG cylinder in Delhi will get cheaper by Rs 36 and Rs 1976.50. LPG cylinder has become cheaper by Rs 36 in Mumbai too. Whereas in Kolkata and Chennai, there has been a reduction of Rs 36.50 in LPG cylinders.

Penalty to be paid for filing income tax return
The last date for filing ITR for the financial year 2021-2022 and assessment year 2022-2023 was July 31 and now those filing it from today will have to pay a penalty. Those whose annual income is more than Rs 5 lakh, they will have to file ITR before 31 December 2022 with a penalty of Rs 5000. At the same time, people with income less than Rs 5 lakh will have to file income tax return with 1000 penalty.

India Post Payment Bank’s doorstep banking will be charged
From August 1, 2022 i.e. from today, India Post Payment Bank of the Department of Posts will charge fees for banking facilities at home. IPPB will charge Rs 20 + GST ​​per service for different types of services.

KYC of Prime Minister Kisan Samman Nidhi
You were also given the time of July 31 for KYC of PM Kisan Samman Nidhi Yojana. That is, from August 1, 2022, farmers will not be able to do KYC for this.

Voter ID and Aadhaar linking campaign starts from today
Today i.e. from August 1, 2022, a special campaign to link Aadhar Card and Voter ID Card is starting. Through this campaign, the Election Commission is preparing to link the voters list across the country with Aadhaar. This special campaign is going to start from states like Maharashtra and Jharkhand.

HDFC loan rates hike applicable from today
HDFC has increased the interest rates by 0.25 percent and the new rates have come into effect from today i.e. from August 1. This will affect both new and old customers. HDFC has increased its retail prime lending rates on housing loans. This is the rate at which the adjustable rate home loan is the benchmark. Earlier on June 9, the company had increased the RPLR by 50 basis points.

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