October 2024: New Rules related to Mutual Funds, Aadhaar, TDS, Savings Schemes, Credit Cards, Debit Cards

September 2024 ends today (Monday), and from tomorrow (Tueday, October 1), October month begins. Starting October 2024, several changes will come into effect regarding mutual funds, Aadhaar card, TDS, small savings schemes, debit cards, and credit cards.

Also read: Allu Sneha Reddy Celebrates Birthday with Love and Laughter

Let’s take a look at the important updates coming into effect in October:

👉 The central government has decided to stop allowing the use of Aadhaar Enrolment ID in place of the Aadhaar number. This rule will come into effect from October 1. Therefore, anyone filing income tax returns will no longer need to provide their Aadhaar Enrolment ID on PAN allocation forms.

👉 New rules will come into effect from October 1, 2024, to regulate inactive Public Provident Fund (PPF) accounts, Sukanya Samriddhi Yojana accounts, and other small savings schemes operated through post offices.

👉 In the Union Budget 2024, Finance Minister Nirmala Sitharaman introduced some changes related to income tax, which will also come into force from October 1. The TDS (Tax Deducted at Source) rates will be reduced on items such as life insurance policies, commissions on lottery ticket sales, brokerage payments, and rent payments made by Hindu Undivided Families (HUFs).

👉 The Securities Transaction Tax (STT) applicable to Futures and Options (F&O) trading will increase from October 1. Additionally, changes will be seen in HDFC Bank’s credit card rules, ICICI Bank’s debit card charges, and mutual fund regulations.

Also read: Dussehra Holidays 2024 for schools, colleges state-wise!