Birth Certificate Rule: Every month’s first brings with it a number of new rules. This also has an effect on our wallets. A lot of financial regulations will also change as of October 1, 2023. These regulations also apply to mutual fund SIPs and birth certificates. Tell us one by one which rules will change as of today, October 1st.
New Travel Spending Rules and PAN Card Changes from October 1
There is a serious warning for you if you enjoy visiting other countries. From October 1, you might need to relax your spending restrictions. You would need to pay 20% TCS if your travel package costs more than Rs 7 lakh. Tell you what, medical and educational costs are not included in this. There has been a significant upgrade for those who invest in PPF, Senior Citizen Savings Scheme, or National Savings Certificates. PAN cards and Aadhar cards could no longer be linked to these accounts after September 30. Your account can be suspended until the required documents are supplied if you haven’t done this.
Birth Certificate Now a Primary ID
Today marks the start of the Registration of Births and Deaths (Amendment) Bill 2023. Because of this, the birth certificate will be accepted as a sole form of identification when applying for an Aadhar card, a driver’s licence, a marriage licence, a position with the government, a spot on the voter list, or admittance. Mutual fund SIP can only be done going forward for a maximum of 30 years. You must now specify how long you plan to keep up the SIP. Long-term SIPs did not previously have an expiration date. The previous SIP will not be covered by the new rule. Let me inform you that on August 18, 2023, NACH had sent out its notification.
Card-Issuing Organizations Must Offer Multiple Card Options Starting October 1
The organisation that provided your card will now inquire as to which card you prefer. Additionally, they will need to provide more than one choice. When getting a new card or renewing an existing one, it used to be that the card-issuing organisations would issue any of the following: a Rupay card, a MasterCard card, a Visa card, etc. But starting on October 1 this won’t be feasible.
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