These rules will change from 1 October 2020, know how it will affect your pocket


01st October 2020: From the first date of the new month, the rules of everyday things are going to change. There are some such changes in it, which will have a direct impact on the common man’s pocket.

From the beginning of next month, everyday things of the common man are going to change. There are some such rules in these rules, which will have a direct impact on your pocket. Like – LPG and nature gas prices, health insurance, TCS for sending money abroad. In such a situation, it is important for you to know about them beforehand and prepare yourself. Let’s know what is going to change in your life in the coming month from the 01st.

The food regulator FSSAI, the Food Safety and Standards Authority of India (FSSAI-Food Safety and Standards Authority of India), has issued new rules regarding mustard oil used in North India. According to the new order of FSSAI, now mustard has been completely banned from adulteration of any other edible oils from October 1. In a letter to the Commissioner of Food Safety of all states and union territories, the Food Safety and Standards Authority of India has stated, the blending of mustard oil with any other edible oil in India will be completely banned from October 1, 2020.

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Government To improve the quality of the salmon salmon found at local shops, confectionery in your neighborhood, the government has decided to introduce new rules (Sweet Outlets). From 1 October 2020 onwards, local sweets shops will also be required to display information such as ‘date of manufacture’ and the appropriate use period (‘Best Before Date’) for the sweets placed in the layers and cans. , It is mandatory to mention these details on the canned sweets box. FSSAI has issued new rules.

The Ministry of Road Transport and Highways has given information to amend the Motor Vehicle Rules. After this, from now on October 1, the necessary documents related to the vehicle, such as licenses, registration documents, fitness certificates, permits, etc. can be maintained through the government-run web portal. Compounding, impounding, endorsement, suspension and revocation of license, registration and issuance of e-challan will also be done through electronic portal. These rules will be implemented from October 1 under the Motor Vehicles (Amendment) Act.

The central government has made a new rule related to collecting taxes on sending money abroad. These rules will come into effect from 1 October 2020. In such a situation, if you send money to your child studying abroad or help a relative financially, then you will have to pay an additional 5% tax collected at source (TCS) on the amount. According to the Finance Act 2020, under the Liberalized Remittance Scheme (LRS) of the Reserve Bank of India (RBI), the person sending foreign money has to pay TCS. Explain that under LRS, you can send up to 2.5 lakh dollars annually, on which there is no tax. TCS will have to be given to bring it under the tax net.

A decision of the government from October 1 is expected to increase prices. According to information received from sources on CNBCTV18, the Government of India has decided to remove the 5% Custom Duty exemption on import of Open Cell from 30 September. It is believed that buying TV can be expensive. Open color is the most important part for color television. At the same time, the production of television (TV) in India may be affected due to imposition of duty on import of open cell.

A major change is going to happen in the health insurance policy under the rules of insurance regulator IRDAI. From October 1, under all existing and new health insurance policies, cover of more diseases will be available at an economical rate. This change is being made to make health insurance policy standardized and customer centric. It also includes many other changes.

At the beginning of every month, the government companies revise the price of cooking gas and natural gas. Last time in the month of September, the price of 14.2 kg and 19 kg gas cylinders was reduced. It is expected that LPG prices may come down in October.