New rules effective April 1, 2025, impact India

Many new rules will come into effect on April 1, 2025. These changes will impact various sectors, including LPG prices, banking regulations, and GST. Starting this date, LPG gas cylinder prices may change. Gas companies review prices every month. If the costs go up, this will affect both household and commercial users directly. Also, there will be a new rule for UPI transactions. To prevent fraud, banks will now require mobile numbers to be verified through a digital intelligence platform. This aims to make online payments safer and reduce scams. A significant change in GST regulations will require businesses to register for input tax credits. Previously optional, this requirement is now mandatory starting April 1. Violators may face fines of up to ₹10,000. Banking rules are also set to change. The Reserve Bank of India will implement new guidelines, affecting customers at major banks like SBI and HDFC. There may be an increase in the minimum balance requirement for savings accounts, leading to extra fees for account holders who do not maintain this balance. Additionally, changes to TDS rules will offer more benefits to senior citizens, raising the deduction limit. This aims to provide them with greater financial security.