The month of July is about to pass. August is coming. With the new month, there are going to be changed in many rules. The prices of LPG cylinders (LPG) are fixed on the first of every month. In such a situation, there may be a change in the prices of LPG cylinders from August 1. However, it will be known only on August 1, whether the price of the cylinder has increased or cut. Bank of Baroda is also going to change the rules related to checks from August 1. Positive Pay System is also going to start in Bank of Baroda from August 1. Along with this, many festivals like Independence Day and Rakshabandhan are also to be celebrated in August. Bank holidays in August will also be more than in other months.
Check payment rules will change in Bank of Baroda
Check payment rules in Bank of Baroda are going to change from August 1. According to the guidelines of the Reserve Bank of India, the Bank of Baroda has made changes in the rules of check payment, these changes will be applicable from August 1. Bank of Baroda has informed its customers that from August 1, checks with an amount of Rs 5 lakh or more will be paid based on a positive pay system. Under this, those issuing checks of an amount of Rs 5 lakh or more will have to give information related to their check payable to the bank through SMS, net banking, or mobile app. Only after that, the payment of the concerned check will be done. Let us inform you that in the year 2020, the Reserve Bank of India introduced the positive pay system for the payment of cheques. Under this, for the payment of a check, the information related to it has to be made available to the bank separately.
LPG cylinder prices may change
On the first of every month, government oil marketing companies fix the rate of gas cylinders. This time also the price of the LPG cylinder will be fixed on August 1. It is possible that this time also the prices of LPG will see an increase. However, nothing can be said clearly about this yet. It will be decided only on August 1 whether the prices of LPG cylinders will increase or their prices will come down. We will have to wait till the morning of August 1 to know the new prices.
Will not be able to fill ITR return
The last date for filing an income tax return is 31 July 2022. If you do not file your return by July 31, 2022, then from August 1, you will have trouble filing your return. However, on or after August 1, people will be able to file the return, but after July 31, they will have to pay the penalty fixed by the Income Tax Department for filing their return. In such a situation, if you want to file your income tax return in August, then you will be able to do so only after paying the penalty amount.
The country will get a new Vice President
In July, Draupadi Murmu became the new President of the country. The country will get a new Vice President in August. The election of the Vice President of the country is on the 6th of August. The results of this election will also come on the same day and the name of the new Vice President of the country will be announced.
Banks will remain closed for 18 days in August
The Reserve Bank of India prepares a list of bank holidays in the country. According to this list, there is a total of 18 bank holidays in August. This means that banks will remain closed for a total of 18 days in August in the country. In ace, the few days that are left for banking, we will have to deal with our banking-related work in those days itself. In August, banks will remain closed on Muharram, Raksha Bandhan, Independence Day, Krishna Janmashtami, Independence Day, and Ganesh Chaturthi. Apart from this, like every month, in August also, banks will be closed on the second and fourth Saturdays due to weekly holidays. Adding these weekly holidays, the banks are going to be closed for some 18 days in August. Although there are some variations in the bank holidays in different states depending on the locality, the number of holidays may be more or less in some states.
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