The financial year 2025-26 has begun. Many major changes in financial and money rules have taken place, starting today, i.e. April 1, 2025. These changes will affect taxpayers, digital payment users, and pensioners. The new income tax slab, changes in UPI rules, and the introduction of the Unified Pension Scheme (UPS) will affect the personal finances of millions, including central government employees. Apart from this, the prices of toll tax, gas and medicines have also been revised.
The following are the key financial changes that can affect your pocket.
1. Changes in the income tax slab
Under the new tax slab, the basic tax exemption limit has been increased from Rs 3 lakh to Rs 4 lakh. That is, those whose total annual income is less than Rs 4 lakh will no longer need to file income tax returns. In the Union Budget, the Modi government announced a major overhauling of tax slabs under the new tax regime, making an income up to Rs 12.75 lakh tax-free after adjusting the 87A rebate of Rs 60,000.
Also read: New Income Tax Rules Highlights: Tax relief, UPI deactivation – Here’s what all changes from today
2. Relief in TDS
The limit of TDS exemption on dividend income has been increased from Rs 5,000 to Rs 10,000, which will benefit equity and mutual fund investors. The limit of TDS for insurance agents and brokers has been increased from Rs 15,000 to Rs 20,000.
The limit of TDS exemption on bank interest has been increased from Rs 40,000 to Rs 50,000, which will provide relief to fixed deposit (FD) and savings account holders.
3. Changes in pension benefit rules
Employees who joined government jobs after 2004 will get the option to shift to the Unified Pension Scheme (UPS). This UPS option will be available under the NPS. Under this scheme, 50% of the last salary will be given as assured pension, dearness allowance (DA) and minimum Rs 10,000 monthly pension.
4. Hike in toll tax
Toll tax on national highways has gone up on several routes. Toll rates will increase on Delhi-Meerut Expressway, Eastern Peripheral Expressway and NH-9. Meerut toll from Sarai Kale Khan will increase from Rs 165 to Rs 170. Meerut toll from Ghaziabad will increase from Rs 70 to Rs 75.
» Read More
