New Rules April 1 Income Tax Atm Pan Card Train Ticket

Please be advised of several significant regulatory changes effective April 1, 2026, that may impact our operations and clients.

- Income Tax: 

The Income Tax Act, 2025, replaces the 1961 legislation, consolidating the "Assessment Year" and "Previous Year" into a single "Tax Year." Individuals earning up to ₹12 lakh annually are now exempt from income tax under Section 87A.

- Tax Documentation: 

Form 130 and Form 131 will replace Form 16 and Form 16A, respectively.

#pancard #atm #trainticket #irctc #incometax

- PAN Card Applications: 

Aadhaar cards will no longer be accepted as sole proof of date of birth; a Class 10th certificate or passport will now be required.

- Banking & ATM Charges:

- HDFC Bank: 

UPI ATM withdrawals now count toward the 5-transaction free limit, with a ₹23 fee thereafter.

- Bandhan Bank:

Fees of ₹23 will apply after 3 free transactions in metros and 5 in non-metros; failed transactions will cost ₹25.

- PNB: 

Daily withdrawal limits for certain debit cards have been reduced to a range of ₹50,000–₹75,000.

- Railway Regulations: 

No refunds will be issued for tickets cancelled within 8 hours of departure. Tiered refund deductions (25% to 50%) apply for cancellations made between 8 and 72 hours prior to travel.

- Fuel Prices: 

Revisions to LPG, CNG, PNG, and ATF prices are expected, which may affect transportation and airfare costs.
Please ensure relevant departments are updated on these new regulations.