Big Financial Changes from April 1: Key Updates on Tax, GST, and Digital Payments

From 1 April 2025, there will be new financial regulations that will impact taxpayers, UPI users, credit card users, and pensioners in India. These new provisions, launched at the beginning of the financial year 2025-26, will extend to income tax, use of credit cards, UPI security, GST, and banking. It is well to know these changes in order to handle your money efficiently.

New Tax Guidelines

The government has introduced new tax rules under the Union Budget 2025. People who have an income up to Rs.12 lakh annually are now exempt from income tax. Salaried individuals also get a standard deduction of Rs. 75,000, making income up to Rs.12.75 lakh tax-free. The goal is to offer financial relief to the middle class and promote the new tax regime.

New UPI Guidelines

UPI transactions from inactive mobile numbers will stop from 1 April. Banks and UPI apps, such as PhonePe and Google Pay, will disable accounts linked to unused numbers for security reasons. If you want to use your UPI without trouble, update your mobile number with your bank before the deadline.

GST Updates

From FY26, logging into the GST portal will be more secure with mandatory multi-factor authentication (MFA). Also, Industrial E-way bills can only be generated using documents that are no older than 6 months or 180 days.

Credit Card Policy Updates

Another important change that could impact your finances is the update in credit card rules. These changes will be different depending on your bank.

For Axis Bank customers, the bank will revise its Vistara Credit Card benefits due to Vistara’s merger with Air India.

Similarly, according to Moneycontrol, SBI SimplyCLICK and Air India SBI Platinum Credit Card users will experience changes in their reward points systems.