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Before making your July budget, know where your expenses increased, these 10 rules have changed from today

Sagar Patel

By Sagar Patel

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These 10 rules changed from today, these expenses increased the burden in July Image credit source: freepik

The month of July has started from today. If you are preparing to make your monthly budget at the beginning of the new month, then this news might come in handy for you. Actually, the burden on your pocket is going to increase this month. Many important financial changes will take place from today. Also, there are deadlines for many jobs in July that everyone should be aware of. From credit card rules to expensive mobile recharges, the deadline for filing ITR also ends this month. Let us know what expenses you need to look out for before making your budget.

Change in prices of national cylinders.

The government has reduced the price of a 19kg commercial gas cylinder by up to Rs 30. There has been no change in the price of the 14.2 kg domestic gas cylinder.

Fastag service fee increase

Banking companies providing Fastag services will impose new charges starting July 1. Consumers will now have to pay fees for tag management, low balance information and receive payment details every three months.

buying a car will be expensive

Tata Motors has announced that it will increase the prices of its commercial vehicles by up to 2 percent from July 1. This increase is being done to cover rising costs.

Mobile phone recharging will be expensive.

Major telecom companies like Jio, Airtel and Vodafone have announced changes in mobile tariffs, which will come into effect from the first week of July.

New Mobile Number Portability (MNP) Rule

TRAI has announced amendments to the Mobile Number Portability (MNP) rules. As per the new MNP rules, TRAI has introduced a seven-day waiting period for issuing unique portability codes. This means that if your SIM card is lost or stolen, you won’t get a new number right away. You will have to wait seven days. The goal of this change is to prevent fraud through SIM swapping techniques.

New rules for paying bills by credit card

The Reserve Bank of India (RBI) has implemented a new rule from July 1, according to which all credit card bill payments must be processed through the Bharat Bill Payment System (BBPS). The aim of this change is to streamline the payment process and increase security. However, not all banks have implemented this system yet.

Same day settlement for National Pension System (SNP) transactions –

From July 1, the Pension Fund Regulatory and Development Authority (PFRDA) will allow same-day settlement for National Pension System (NPS) transactions. Contributions received by Trustee Bank before 11 am will be invested on the same day and customers will benefit from the net asset value (NAV) on the same day. Previously, settlement of contributions received was done on the next day (T+1).

Deadline for Income Tax (ITR) declaration –

The last date to file income tax returns for the financial year 2023-24 (assessment year 2024-25) is 31 July 2024. Taxpayers who miss this deadline can still file delayed returns up to 31 December 2024.

Citibank credit card migration-

Axis Bank has informed Citibank credit card customers that all accounts, including credit card relationships, will be migrated by July 15, 2024.

Paytm Wallet Closed

On July 20, 2024, Paytm Payments Bank will close those wallets that have not had any transactions or transactions in the last one year.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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