New Delhi. From August 1, 2022, a big change is going to happen in the lives of the people of India. Common people may also have to face problems due to the changes from August 1. After the new change, it can directly affect the pockets of the common people. From August 1, a big change can be seen in the lives of people from farmers to jobs. In this context, you must know that what are the major changes that will happen from August 1. How will it affect people?
This is special in this news-
- There will be a penalty for filing ITR from August 1
- Farmers will not be able to do E-KYC
- There will be change in the rules related to checks
- 13 days holiday in the bank
- gas prices will change
There will be a penalty for filing ITR from August 1
The last date for filing income tax returns is 31 July. If you do not file ITR on time, you may suffer a big loss. If you do not file ITR by 31st July 2022, you may have to pay a penalty. Failure to file ITR on time may result in a fine ranging from Rs 1000 to Rs 5000. If your income is less than Rs 5 lakh, then you will have to pay a fine of Rs 1000. On the other hand, if the income is more than Rs 5 lakh, then a fine of Rs 5000 will have to be paid.
Farmers will not be able to do E-KYC
At the same time, from August 1, a big change can be seen in the lives of farmers. Farmers cannot do KYC from August 1. The government had set 31 July 2022 as the last date for KYC of PM Kisan Samman Nidhi Yojana. However, now after August 1, farmers will not have the opportunity to get KYC done. Taking a decision in the interest of farmers, the Modi government had decided to extend the date of doing KYC. Earlier, the last date for e-KYC was fixed as 31 May 2022.
There will be change in the rules related to checks
There will be a big change in the banking sector from August 1. Bank of Baroda is going to change an important rule related to checks from August 1, 2022. The bank will implement the positive pay system for the payment of checks with an amount of Rs 5 lakh or more. In such a situation, before the check is cleared from the next month, the bank will have to give information for authentication. In the check, you have to enter the beneficiary name, account number, amount, check number etc. through SMS ATM, Internet Banking and Mobile Banking. After this all these information will be cross verified and only then the check will be cleared.
13 days holiday in the bank
Banks will remain closed for 13 days in the month of August due to holidays and festivals. In such a situation, people may have to face trouble. The big festivals are next month than Independence Day, Rakshabandhan, Janmashtami and Ganesh Chaturthi. Due to this, banks will be closed for about 13 days.
gas prices will change
At the same time, there is a possibility of change in the price of gas in the month of August. It is often seen that LPG prices change at the beginning of the month. In such a situation, speculations are being made that this time also there may be a change in gas prices at the beginning of the month. Last time the gas companies had reduced the prices of commercial gas, then the price of domestic gas increased by Rs 50.
The post is going to be a big change from 1st August, common people will be in trouble, pocket will be directly affected first appeared on outfable.