The financial Year 2025-26: New Year is celebrated on 1 January all over the world. Annual New Year and Financial Year start on different days in every country. In India, the new financial year starts on 1 April (Financial Year in India). From this day, the government changed the rules related to the economic status of the country.

Today the new financial year has started in our country. In such a situation, many such rules are also changing today which are going to directly affect the pockets of the common man taxpayers, and senior men. The central government is going to change the rules related to income tax, toll tax, credit cards, and banks.

The change in rules will have more impact on the pockets of the middle class.

The central government is going to empty the pockets of the common man from the beginning of the new financial year until today. The central government has decided to increase the tax (Tax Hike) on the daily needs of the people in the new financial year. The government changes its rules every time on April 1. In the new financial year, people may face problems in household expenses.

These important rules have change today

Changes will be made to the tax slab.

Union Finance Minister Nirmala Sitharaman, while providing relief to the middle class in this year's annual budget, has said that there will be no tax on income up to Rs 12 lakh in the new tax regime. Apart from this, a standard deduction of Rs 75,000 will also be applicable for salaried people, that is, income up to Rs 12.75 lakh can be tax-free. The new tax regime will be the default option from April 1, 2025.

25 percent tax will be levied on income up to Rs 24 lakh

The central government has made the new tax slab simpler while providing relief to the middle class and industrialists. The central government has provided relief to the people in the new tax regime. The government has not made any changes to the old tax regime. The Finance Ministry has added a new slab of 25% tax on income of Rs 20-24 lakh.

Rebate under Section 87A

Income Tax has decided to rebate under Section 87A of Income Tax at the beginning of the new financial year. The Income Tax Department has decided to increase the tax rebate. The Income Tax Department has increased the tax rebate from Rs 25,000 to Rs 60,000.

TCS and TDS rules

The Government of India has announced changes in the rules of TCS and TDS at the beginning of the new financial year. Parents will be able to claim TCS credit on payments made by them for their children (such as foreign education fees). Along with this, the limit of TDS on rental income has been increased from Rs 2.4 lakh to Rs 6 lakh per annum.

New Income Tax Bill

Today, from April 1, 2025, the Finance Ministry has announced the implementation of the New Income Tax Bill by the Income Tax Department. In the new financial year 2025-26, the new Income Tax Bill will be implemented in place of the old Income Tax Act 1961. So that the tax system can be made more easy and dispute-free.

Changes in Credit Card

The Reserve Bank of India has decided to change the rules related to credit cards at the beginning of the new financial year. From April 1, 2025, new features will be added to RuPay Credit Card and Debit Card Features. Under this, one free domestic lounge access, two international lounge access and personal accident cover up to Rs 10 lakh will be provided every quarter.

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