From DA, ITR and expensive cars to cheap cylinders, these money related changes are happening from January 1

Many changes related to money are going to happen in the year 2024. Many of these changes will benefit you, while some may also put you in trouble. These changes include changes related to LPG cylinder price, interest on small savings schemes, DA, ITR, bank locker and UPI ID. Let us know about these in detail.

Income tax return

The last date for filing belated or revised income tax returns for the financial year 2022-23 is December 31, 2023. If you have not yet filed your ITR, then file it by 31st December. After this you will not be able to file ITR for the financial year 2022-23. In such a situation, action can be taken against you under Section 234F of the Income Tax Act. Under this, if you do not file ITR, you can also go to jail.

LPG cylinder

Ujjwala beneficiaries of Rajasthan will get cheaper LPG cylinders from January 1. These people will get LPG cylinder for only Rs 450. This has been announced recently by the state government. At the same time, on the first of the month, government oil companies also decide the prices of domestic and commercial cylinders. This will affect customers across the country.

Interest on Small Saving Scheme

The Central Government has recently announced interest rates on small savings schemes for the fourth quarter of the current financial year i.e. January to March 2024. In this, the interest rate on Sukanya Samriddhi Yojana has been increased by 0.20 percent. Also, the interest rate on 3 year fixed deposits has been increased by 0.10 percent. There is no change in the interest rates of all other small savings schemes. In this way, from January 1, the interest rate on Sukanya Samriddhi Yojana will be 8.2 percent and on 3 year fixed deposits will be 7.1 percent.

Government employees will get DA

Dearness Allowance i.e. DA received by government employees comes into effect from January 1. However, it may be announced in March. It is believed that this time DA may increase by 4 percent. With this, DA will increase to 50 percent.

Cars will become expensive

Many big car companies are preparing to increase the prices of their vehicles in the new year. Audi is increasing the prices of its vehicles in India by 2 percent from January 1. Apart from this, companies like Maruti Suzuki, Hyundai and Mercedes are also preparing to increase prices.

UPI ID

The UPI ID which has not been used for more than a year will now become inactive. National Payments Corporation of India has asked payment apps to do so in the new year. If you have not used your UPI ID for the last one year, then transact with it once.

Locker agreement

The deadline for submitting the revised bank locker agreement is December 31, 2023. If you have submitted the bank locker agreement on or before December 31, 2022 and you miss this deadline, your locker may get frozen in the new year.