From 1 October 2020 a number of rules regarding, motor vehicles, LPG cylinders, insurance, debit and credit card will change. Here is all that you should know.
Coverage of health insurance to become wider
-More illness to be included under the health insurance
-Permanent illness outside the cover will come down to 17
- Likelihood of premium rising between 5-20%
-No rejection of claim even after 8 years of the policyholder paying the premium
New rule of TCS in income Tax
-TCS (Tax Collected at Source) of 1% to be deducted on E-commerce and online services
-The deduction would not be for the customers but the companies
-The seller can, however, levy a tax of 0.1% on the buyer for the purchase of 50 lakh and above
Television sets to become costlier
-A custom duty of 5% will be levied on import of open-cell panels for television sets
-For colour televisions, open-cell panels are a key component
-The exemption of import duty was for a year and the government refused to extend it
Hard copy of RC, Driving license not required
- Soft copies of your RC and DL will do for proof
-You can opt to carry digital copies of RC, DL, PUC on the M-Parivahan app
-All driving licenses and E-challans will be available on the website of the transport department
Conditions apply on use of mobile while driving
-Mobiles can be used for only route navigation
-A fine of Rs 5000 will be levied if caught talking on the phone while driving
LPG connection will no longer be free
-LPG connection under the Pradhan Mantri Ujjwala Yojana (PMUY) has ended
-The Centre had announced three 14.2-kg LPG cylinders free of cost to about 8 crore Ujjwala beneficiaries from April to June
Foreign fund transfer to become costlier
-A tax of 5% will be levied on transfer of foreign funds
-TCS (Tax Collected at Source) will be applied to amounts exceeding Rs 7 lakh in a financial year
-Overseas tour package also to attract a TCS of 5%
Sweet sellers will have to display 'expiry date'
-Food Safety and Standard Authority of India (FSSAI) has made it mandatory for sweet shops to declare expiry dates on non-packaged or loose sweets.
-Date of making of the sweets should also be mentioned
New debit and credit card rules
-Card users will now have the option to opt-in or opt-out of services and fix transaction limits
-The card users themselves will decide upon the services they would like to avail
-The rules are for international, online and contactless card transactions