Rules Change: From January 1, 2026, changes related to income tax, banking, credit score, PAN-Aadhaar linking, government employee salaries, and gas cylinder prices will come into effect.

Rules Change: As the new year begins, several important rules related to the common man's finances are going to change. From January 1, 2026, changes related to income tax, banking, credit score, PAN-Aadhaar linking, government employee salaries, and gas cylinder prices will be implemented. If necessary tasks are not completed on time, financial difficulties may increase in the future.

No more opportunity to correct mistakes in ITR

The last date to revise the Income Tax Return for the assessment year 2025-26 was December 31, 2025. From January 1, 2026, taxpayers will not be able to file revised ITRs. If there is any mistake in the return, now only an updated return, i.e., ITR-U, will have to be filed, which may involve paying additional tax and penalties.

The opportunity for those who filed ITR late is also over

For those who could not file their Income Tax Return on time, the last date to file a belated ITR was also December 31, 2025. From January 1, 2026, the facility to file belated returns will end. This year, the last date for filing ITR was September 16, 2025.

Your credit score will now change faster

From January 2026, the way credit scores are updated is being changed. Until now, the credit score was updated approximately once every 15 days, but now it will be updated every week. The advantage of this will be that the effect of paying loan EMIs on time, clearing dues, or making pre-payments will be reflected in the credit score faster.

8th Pay Commission implemented, but increased salary may take time

The 8th Central Pay Commission is expected to be implemented from January 1, 2026. Typically, a new pay commission is constituted every ten years, and this has been implemented in accordance with that tradition. However, the implementation of the recommendations related to salary increases and the new fitment factor may take some time, so employees might receive their increased salaries with a slight delay.

Gas cylinder prices may change on New Year's Day

LPG cylinder prices are reviewed on the first day of every month. Therefore, the prices of domestic and commercial gas cylinders may increase or decrease on January 1, 2026. This will directly impact the household budgets of ordinary people and businesses.

Failure to link PAN and Aadhaar will lead to problems

The last date to link PAN and Aadhaar was December 31, 2025. From January 1, 2026, linking PAN and Aadhaar will become mandatory. If a person fails to do so, their PAN will become inactive. An inactive PAN can hinder several essential tasks, such as filing taxes, opening a bank account, and obtaining loans or credit cards.

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