Starting June 1, 2025, several key rules will change across India, impacting taxpayers, salaried individuals, traders, and companies.
These changes include updates in EPFO services, TDS certificates, Aadhaar updates, SEBI regulations, FD interest rates, and credit card policies. Here’s everything you need to know:
EPFO 3.0 Launch
The Employees Provident Fund Organization (EPFO) is launching the EPFO 3.0 system. With this, employees will be able to instantly withdraw their PF using UPI and ATMs.
Users can also check their PF balance and transfer funds via UPI platforms, eliminating the need for lengthy withdrawal procedures.
Form 16 Deadline
The last date to issue Form 16 for FY 2024–25 is June 15, 2025. Employers must provide this document to confirm that income tax has been deducted and deposited on behalf of employees.
Last Date for Free Aadhaar Update
The deadline for free Aadhaar detail updates is June 14, 2025. After this, a fee of ₹25 will be charged for online updates and ₹50 for updates at physical Aadhaar centers.
New SEBI Rules
SEBI has announced new cut-off timings for overnight mutual fund schemes. From June 1, 2025, the cut-off will be 3 PM for offline transactions and 7 PM for online.
This change aims to improve transparency in the NAV allotment process.
Fixed Deposit Interest Rate Changes
Suryoday Small Finance Bank will revise its FD interest rates starting June 1, 2025. The new rates will range from 4% to 8.4% on deposits up to ₹3 crore.
Credit Card Rule Changes
Kotak Mahindra Bank: From June 1, 2025, credit card charges will change, including updates in charges for failed standing instructions and dynamic currency conversion.
The way the minimum due amount is calculated will also change.
HDFC Bank: From June 10, 2025, Tata New Infinity and Tata New Plus cardholders will get lounge access through vouchers based on spending.
Axis Bank: From June 20, 2025, changes will be implemented in phases for the REWARDS Credit Card.
These include updates in reward points, cashback, lounge access, and spending categories.
These updates are set to affect your finances, savings, and investments. It is important to stay informed and plan accordingly to avoid any last-minute surprises.
