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Know These 10 New Rules Changing From Tomorrow
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The RBI, Reserve Bank of India, has issued new guidelines for credit and debit cards. Apart from these, there are several changes in the rules involving Motor Vehicle Rule, Income Tax, Health Insurance, credit, and debit card rules. They are changing from tomorrow, 1st October 2020.

From 1st October 2020, there are several changes in rules regarding the Ujjwala scheme, Motor Vehicle Rule, Income Tax, Health Insurance, credit, and debit card rules. We are here to ensure that you know these rules in advance as they are changing from tomorrow.

 

No Physical Verification of Driving License and RC

From 1st October, people no need to worry about keeping the hard copy for RC documents and driving license together. As per the new rules, drivers will only need a valid soft copy of these documents attached to the vehicle. The amendments are made in the Motor Vehicles Rules 1989 by the Ministry of Road Transport and Highways. 

The government is set to ease commuter convenience while digitizing documents. The government will issue maintenance of vehicles, driving licenses, and e-challans via an IT portal from tomorrow. Drivers can maintain their vehicular records on government portals such as Digilocker and m-parivahan.  

 

Use of Mobile Phones Only for Route Navigation

As per the new amendments in the Motor Vehicles Rules 1989 by the Ministry of Road Transport and Highways, you can now use mobile for route navigation. However, it should be in a manner that shall not disturb the drivers’ concentrations. 

 

No Free LPG Connection From Tomorrow

Getting the free gas connection under the marque Pradhan Mantri Ujjwala Yojana, PMUY, is ending today, 30th September 2020. 

 

5% Tax on Foreign Fund Transfer

Any amount sent overseas to purchase foreign tour packages, and every other foreign remittance above 7 lakh INR will attract a tax-collected-at source (TCS) beginning from 1st October. However, no tax would be deducted if the tax is already removed at the start (TDS) for that amount. 

 

“Best Before Date” is Mandatory to Display for Sweet Sellers

Sweet shops now need to display the “best before date” of loose sweets available in their shop. FSSAI, Food Safety and Standards Authority of India (1), has directed sweet sellers to follow the new protocol from tomorrow.

 

Changes in the Health Insurance Cover

There are changes in the health insurance coverage in the aftermath of the coronavirus outbreak. The premium health services prices will rise steadily. The new rule introduced the post-pandemic to make 17 permanent illness outside the cover. 

 

Buying TV Will Now Be Expensive

From 1st October, open-cell panels will attract 5% import duty. According to India’s government, there is no extension for the duty exemption expiring at the end of this month. The government is keen on expanding domestic production for open cell panel as part of Atma Nirbhar Bharat. The move aims to curb imports on open cell panels. 

 

New credit and Debit Card Rules of RBI

As per the new rules of the Reserve Bank of India, card users can now register for opt-in or opt-out services and spend limits. They can avail of the benefits of international transactions, contactless card transactions, and online transactions. 

 

FSSAI Bans Mustard Oil Blending With Any Other Cooking Oil

FSSAI, India’s food regulator, has banned the mustard oil blending with any other cooking oil from 1st October 2020. FSSAI stated in a letter to the food safety commissioner of all states and UTs that it is prohibited in India to blend mustard oil with any other edible oil.  

 

New Tax Collected at Source (TCS) Guidelines

The IT Department has issued new guidelines for TCS provisions that require e-commerce operators to deduct 1% tax on goods and services sales. The new TCS regime will come into effect from tomorrow. There is a new section 194-O of the Finance Act 2020 in the Income Tax Act 1961. It mandates e-commerce operators to deduct income tax at 1% of the gross amount of sales of goods and provision of services or both. It is applicable for facilitation via their digital or electronic platform. 

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Rucha Joshi, currently managing a team of over 20 content writers at TimesNext is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student and a passionate leader.

Disclaimer: The views, thoughts, and opinions expressed in the article have been curated for our audience and does not warrant a 100% accuracy. All the information mentioned in the article is subject to change according to the changing viewpoints. Feel free to reach us at [email protected] for any change or copyright issues.

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Team Rucha Joshi
Team Rucha Joshi
Rucha Joshi, currently managing a team of over 20 content writers at TimesNext is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student and a passionate leader.

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