From October 1, 2024, several key rule changes are set to take effect, which may directly impact your finances.
These changes cover areas like LPG prices, Aadhaar usage, Small Savings Schemes, and more. Here’s what you need to know about these upcoming adjustments.
1. LPG Price Revision
Starting October 1, 2024, oil marketing companies will revise the prices of LPG cylinders. The new prices for LPG, including the 14 kg domestic gas cylinder, will be released at 6 a.m.
Although commercial gas cylinder prices have fluctuated recently, domestic gas prices have remained steady for a while. This revision may affect household expenses.
2. ATF and CNG-PNG Rates
Oil companies will also revise the prices of Aviation Turbine Fuel (ATF) and CNG-PNG on October 1.
In September, ATF prices were reduced, and the new rates will be announced on Tuesday morning, potentially impacting travel and fuel costs.
3. Aadhaar and PAN Rules
From October 1, using an Aadhaar enrolment ID for applying for a PAN card or filing income tax returns will no longer be allowed.
This move is aimed at reducing PAN misuse and duplication. Ensure you have your updated Aadhaar details to avoid any issues with your PAN-related activities.
4. Changes in Sukanya Samriddhi Yojana
Rules for the Sukanya Samriddhi Yojana will change from October 1. If a Sukanya account is opened by grandparents, it will be transferred to the biological parents or guardian.
Additionally, if more than two accounts are opened for a single beneficiary, the extra account will be closed.
5. PPF Rule Modifications
Several changes in the Public Provident Fund (PPF) rules will take effect on October 1. Firstly, for PPF accounts opened for minors, the interest will be at the post office savings account rate until the minor turns 18.
After that, regular PPF interest rates will apply, and maturity will be calculated from the individual’s 18th birthday.
Secondly, if a person has opened more than one PPF account, the excess account will earn 0% interest, and the funds will be refunded.
For NRIs holding PPF accounts opened under 1968 rules, their interest will drop to 0% after September 30.
6. HDFC Credit Card Loyalty Program
From October 1, HDFC Bank’s credit card loyalty program will introduce a change.
The redemption of reward points for Apple products on the SmartBuy platform will be restricted to one product per calendar quarter, limiting the benefits for Apple customers.
