New Delhi: A host of financial changes are set to come in September that could make an impact on your wallet. There are some key changes for mutual fund holders and equity investors along with new rules for the Axis Bank's Magnus and Reserve card holders. The slash of Rs 200 in domestic cooking gas prices has already been announced providing the much needed relief to the common people.
LPG gas cylinders cheaper by Rs 200: The government has announced a Rs 200 cut in domestic cooking gas prices on Tuesday. Following which, the price of one LPG cylinder will decrease from Rs 1103 ro Rs 903 in Delhi while for Ujjwala beneficiaries it will come up to Rs 703. It is to be seen whether the commercial price of cylinders decrease or not.
IPO rule change: The Securities and Exchange Board of India (SEBI) has halved the timeline for listing of shares on stock exchanges after closure of Initial Public Offerings (IPOs). From September 1, the listing timeframe has come down from six to three days. A decision in this regard that was taken at a meeting on June 28 is aimed at benefitting both the issuers and investors.
New credit card rules: Some changes have been introduced for the Axis Bank Magnus and Reserve credit card customers from next month. The Axis Bank has increased the annual fee for its Magnus credit card and the spending threshold for waiver of the fee has also been increased. This apart, some transactions will not be entitled for EDGE points.
Tax relief for employees getting accommodation from employer: The Income-Tax Department has changed the valuation rules for rent-free accommodation under which, such employees will get a tax-relief. This will help salaried employees living in rent-free accommodation provided by their employees to save more as they will be able to get a higher take-home salary.
Deadline for exchange of Rs 2000 notes: The Reserve Bank of India had fixed the deadline for changing Rs 2,000 notes till September 30. After which, these notes cannot be deposited or exchanged in any banks. Also, banks will remain closed for 16 days in September so customers need to plan accordingly.
Free Aadhaar Card update: The last chance for updating Aadhaar documents for free is till September 14. The Unique Identification Authority of India (UIDAI) has earlier allowed this facility till June 14 and now it has been extended till September 14. After which, one has to pay charges for updating the documents.
Nomination for Demat account: The deadline for nomination or change for trading in demat account is September 30. Any demat account that stands without nomination will be considered inactive by SEBI after this date.
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Linking PAN-Aadhar: All account holders of the small savings scheme have to link PAN-Aadhar by September 30, failing which, their accounts will be terminated.
