New financial year begins today; UPI service will not be available if mobile number is blocked
The new financial year, 2025-26 , has begins today. Along with this, many financial rules have changed. Along with new income tax slabs, the Unified Pension Scheme has been implemented instead of the old pension scheme. Along with the GST rules, many banking rules have also changed. According to the new income tax rules announced in the budget, the taxpayer will not pay any tax on income up to Rs 12 lakh per year.
Even for the employed group, income up to Rs 1275 thousand will be tax-free with a standard deduction of Rs 75 thousand. Similarly, according to the new income tax slab, income between Rs 4 lakh and 8 lakh will be taxed at 5 percent, between Rs 8 lakh and 12 lakh at 10 percent, between Rs 12 lakh and 16 lakh at 15 percent, between Rs 16 lakh and 20 lakh at 20 percent, between Rs 20 lakh and 24 lakh at 25 percent, and income above Rs 24 lakh will be taxed at 30 percent.
In addition, multi-factor authentication has been implemented on the Goods and Services Tax (GST) portal. The much-awaited Unified Pension Scheme (UPS) has been implemented from today. Under the Unified Pension Scheme, employees with at least 25 years of service will get a pension of 50 percent of their average basic salary for the last 12 months. Similarly, UPI payments will no longer be possible on inactive numbers from today. NCPI has taken this decision to make UPI more secure. Apart from this, some credit card rules have also been changed.
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