New Financial Year Rules: Tax, FASTag and Other New Rules to Apply From April 1, Check Details

New Financial Year: The month of March is coming to an end, signaling the start of a new financial year with the beginning of April. Additionally, several changes are expected in financial regulations. From April 1, 2024, the New Tax Regime will become the default tax regime, meaning taxpayers will have to pay taxes automatically according to the rules of the New Tax Regime. Check the other financial rule changes that will be applicable from 1st of April, 2024.

New Financial Year Rules 2024

If you use FASTag and haven’t updated it yet, make sure you update it till March 31, 2024, otherwise it may cause inconvenience. FASTag will deactivate bank accounts without KYC, meaning even if there’s a balance, payments won’t go through. Apart from this, EPFO will implement new rules from next month, where after job switch, the PF account will transfer automatically to the new one, eliminating the need for user requests. Additionally, users who have SBI credit cards should note that there will be changes in credit card rules from April 1, 2024.