Rule Change From gas cylinder to credit card these rules
New rules for cylinder gas, credit card, CNG holders : Watch out for the big change from July 1
Hello everyone, this current article provides complete information about what are the rules that will change in July. There are changes on LPG prices, CNG and PNG prices and more. Read this information completely to get complete information about these.
Important to know changes this July:
As the month of June comes to an end and the month of July begins, many changes are taking place in the country on the first date. LPG prices, CNG and PNG prices and credit card related and more will be implemented with various changes affecting several aspects of daily life.
LPG Gas Price Change:
LPG gas price is fixed on 1st of every month. The price of 19 kg commercial gas cylinder was reduced in May and April, while the prices of 14 kg domestic gas cylinder remained unchanged. Therefore, there is a possibility of reducing the price of domestic cylinder this time.
Introduction of TCS 20% on Credit Card Spending:
Changes are being made in the Tax Collected at Source (TCS) rules with effect from July 1. This means that for expenses above Rs 7 lakh, a TCS charge of up to 20 percent will be levied. But for education and medical this fee is reduced to 5%. Also, TCS charges will be reduced to 0.5 percent if the loan is taken for education abroad.
Change in CNG and PNG Prices :
Like the previous months, there is a possibility of change in CNG and PNG prices in the month of July as well. In other cities, including Delhi and Mumbai, oil companies will review and adjust the changes in CNG-PNG rates in the first week.
Last Date for Filing of Income Tax Return (ITR):
July 31 is the last date for submission of income tax return. In such a situation, the taxpayer has to file ITR every year. If not submitted, make sure to complete it by July 31. If the deadline is missed, the taxpayer may be charged applicable penalties.
It is good that you are aware of such important changes and welcome the month of July. So immediately share this article with such important information to all your friends and relatives, thanks.