From October 1, many rules will be changed, including banking and driving, TCS will be deducted if money is sent abroad.
Money sent abroad will be taxed at 5%
Mobile can be used to see the road while driving
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Information: From October 1, many rules will be changed, including banking and driving, TCS will be deducted if money is sent abroad.
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Money sent abroad will be taxed at 5%
Mobile can be used to see the road while driving
Other rules, including banking and motor vehicle, are set to change from October 1. Now even if money is sent abroad, TCS (tax collected at source) will be deducted. In addition, from October 1, important documents related to the vehicle such as licenses, registration documents, fitness certificates, permits, etc. can be maintained through a government-run web portal. We're telling you about changes that will affect you as well.
If more than Rs 7 lakh is sent abroad, TCS will be deducted
An important rule of income tax in the country is going to change from October 1. Accordingly, even if money is sent out of the country now, TCS will be deducted. It has been decided to extend the scope of TCS under Section 206C (1G) of the Income Tax Act and also apply it to the Liberalized Remittance Scheme (LRS). That is, along with travel, education, etc., the tax will now be levied on investments made abroad. Now 7% TCS will be deducted on remittances of Rs 7 lakh or more.
Motor vehicle rules will change
The Ministry of Road Transport and Highways has informed that the rules of motor vehicle have been changed. From October 1, important vehicle related documents like licenses, registration documents, fitness certificates, permits etc. can be maintained on the government-run web portal. Now you can work only by showing a digital copy. Records and registrations of reported crimes, including suspension, compounding and license revocation, will also be available on this web portal.
Mobile can be used to see the road while driving
From October 1, mobile or other handheld devices can be used while driving, the Ministry of Road Transport and Highways said. But it will only be used to view the map. In addition, care should be taken not to distract the driver while driving with the help of mobile. However, a fine of Rs 1,000 to Rs 5,000 can be imposed for talking on a mobile while driving.
Buying a TV will be expensive
Buying a TV from October 1 will also be expensive. The government has decided to abolish the 5% customs duty on open cell imports used in TV manufacturing. The government granted a one-year exemption for this, which will expire on September 30. This will increase the price of a 32-inch TV by Rs 600 and a 42-inch TV by Rs 1,200 to Rs 1,500.
LPG can be cheaper
At the beginning of each month, government companies change the price of LPG and natural gas. Prices of 14.2 kg and 19 kg gas cylinders were reduced in September. It is expected that LPG prices may fall in October.
