Rule Changes from Today: Penalty on Income Tax Return, LPG cylinder cheaper; Read what changed from today

Posted on 1st Aug 2022 by rohit kumar

From today i.e. August 1, some important changes have taken place. While commercial LPG cylinders have become cheaper, now the penalty will have to be paid for filing income tax returns. Let us know if the rules have changed. Commercial LPG cylinder of 19 kg has become cheaper today. Indian Oil has reduced its price by Rs.

 

Now commercial gas cylinders will be available in Delhi for Rs 1976.50. Last month it was available in 2012.50 for Rs. Now it will be available in Kolkata for Rs 2095.50, in Mumbai for 1936.50, and Chennai for Rs 2141. Last month also, the prices of commercial cylinders were reduced, while domestic cooking gas cylinders became costlier by Rs 50. The prices of domestic gas cylinders have been kept unchanged. At present, a 14.2 kg LPG cylinder is available for Rs 1053 in Delhi, Rs 1053 in Mumbai, Rs 1079 in Kolkata, and Rs 1068.50 in Chennai.

 

5000 thousand fine for filing a return

 

Now a fine of Rs 5000 will be imposed for filing an income tax return. The government had fixed July 31 as the last date for filing returns, which passed yesterday. Till now the date has not been extended, so the returnees will have to pay a fine of up to five thousand rupees. Those whose annual income is less than Rs 5 lakh, will have to pay Rs 1000 as a late fee. If the annual income exceeds 5 lakhs, a fine of Rs 5000 will have to be paid.

 

Kisan Samman Nidhi will not be available without KYC

 

Now KYC has become mandatory to get the benefit of the Pradhan Mantri Kisan Samman Nidhi Yojana. To take the benefits of the scheme, KYC has to be done along with registration. The old beneficiaries were given time till July 31 for KYC. It has passed. Beneficiaries who have not done KYC will not get the amount of the 12th installment of PM Kisan Samman Nidhi.

 

Bank of Baroda changed the rules for payment by check

 

BOB or Bank of Baroda has changed the rules for payment by check from today. Now positive pay system will be mandatory for checks of 5 lakh or more. This change has been made to secure check payments and prevent fraud.

 

Also Read: Fiscal Deficit: The government got Rs 5.96 lakh crore from tax, and spent Rs 9.48 lakh crore

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