Major 12 changes that may impact your life from July 1
July 1 is set to enter into history books, and not just for the Goods and Services Tax (GST). A number of other major changes will happen from this date.
List of changes that may effect your life from July 1:
No filing of I-T return without Aadhaar: The government has made it compulsory to mention Aadhaar for filing of income tax return. Without Aadhaar, you won’t be able to file your return after July 1.
Linking of Aadhaar with PAN becomes mandatory: The government has made compulsory to link Aadhaar with PAN to stop people using multiple PANs to evade taxes. If a person does not link PAN and Aadhaar as mandated by Section 139AA of the Income Tax Act, his PAN could become invalid.
No PAN card without Aadhaar: Aadhaar becomes must for getting new PAN. You won’t be able to get a PAN card after Saturday without your Aadhaar card.
No passport without Aadhaar card: Ministry of External Affairs has listed Aadhaar card as one of the mandatory documents for applying for a passport. So you won’t be able to get your passport without Aadhaar from July 1.
Linking PF account with Aadhaar: Employees’ Provident Fund Organisation (EPFO) has made it compulsory to link PF account with Aadhaar by June 30. Pensioners are also asked to furnish Aadhaar details. Aadhaar linking is expected to make the withdrawal and settlement process time much shorter, at present the time is 10 days to 20 days.
Concession benefits withdraw on railway tickets: To plug misuse and leakages, Indian Railways have made it mandatory to quote Aadhaar from July 1 to avail concessions on railway tickets.
Scholarships for schools and colleges: HRD ministry has issued a notification to school and college students, who want to receive government grants and scholarship or are already getting it, should furnish Aadhaar details by June 30. After that, scholarships would not be given to any student who doesn’t have Aadhaar.
No Public distribution benefit without Aadhaar: Public distribution benefits already linked to Aadhaar. Individuals will have to link Aadhaar with ration cards before July 1 to get all the such subsidy benefits.
No fly from July 1: Indians flying abroad will not be required to fill departure cards from July 1. This moves is target to ensuring hassle-free movement and reducing the time required to complete immigration formalities.
Expat tax in Saudi Arabia from July 1: Saudi Arabia is introducing a monthly expatriate levy on the dependents of expatriates from July 1. The levy will be 100 riyals approx to INR 1721 per dependent this year. It will be doubled to 200 riyals per dependent from July next year, tripled to 300 riyals in 2019 and quadrupled to 400 riyals from July 2020.
New curriculum for CA: Prime Minister Narendra Modi will launch on July 1 a new syllabus for those studying to become chartered accountants. The new syllabus is in accordance with International education standards of the International Federation of Accountants and also includes new taxation system, the GST.
Online visitor visa for Indians flyers to Australia: The Australian government has introduced that Indian visitors can apply for a visitor’s visa online from July 1. The online visa facility is expected to fasten the approval process