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Warning: July 1 Will Change Your Life In 12 Ways

July 1 is set to enter into history books, and not just for the Goods and Services Tax (GST).

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Many changes are coming to effect from this July 1. By hearing July 1, you may think it is GST. It is not just the GST; some other changes will happen from this date. These changes will change your lives also.

 

Some significant changes will happen from July 1 other than GST.

Paperless train tickets

Paperless train tickets

Rajdhani, Shatabdi train tickets to go paperless from July 1. IRCTCs massive initiative is to promote cashless and paperless ticketing system. Rajdhani Express and Shatabdi Express passengers will be the first to have this paperless mobile ticketing facility. Passengers of premier trains can show their e-tickets whenever asked.

IT returns and Aadhaar

IT returns and Aadhaar

No filing of I-T returns without Aadhaar can be done from July 1. The government has made it compulsory to mention Aadhaar number for the filing of income tax return. Without Aadhaar, tax payers won't be able to file your return after July 1.

Aadhaar-PAN linking
 

Aadhaar-PAN linking

Linking of Aadhaar with PAN is mandatory now. The Indian government has made it compulsory to link your Aadhaar with PAN card. The move is to stop people using multiple PANs to evade taxes. Linking PAN and Aadhaar mandated by Section 139AA of the Income Tax Act. If an individual fails to link his or her PAN with Aadhaar, the PAN could become invalid.

No departure cards

No departure cards

No departure cards are needed for those flying abroad from July 1. This will ensure hassle-free movement of Indians going abroad. People who are going out of the country via rail, seaport and land immigration check posts will have to fill the embarkation card.The new move will reduce the time required to complete immigration formalities.

Passport

Passport

You won't get a passport without Aadhaar card. Ministry of External Affairs has listed Aadhaar card as one of the mandatory documents for applying for a passport. So you won't be able to get your passport without Aadhaar from July 1.

Aadhaar and PAN

Aadhaar and PAN

You must have an Aadhaar card if you want to apply for a new PAN card. Aadhaar becomes a must for getting new PAN now. You won't be able to get a PAN card after June 30 without submitting your Aadhaar card.

PF and Aadhaar

PF and Aadhaar

EPFO has made it must to link PF account with Aadhaar by June 30. Pensioners are also asked to furnish Aadhaar details. EPFO says Aadhaar linking is expected to make the withdrawal and settlement process time much shorter, from existing 20 days to 10 days.

Railway concession

Railway concession

You can not avail concession on railway tickets after July 1 without Aadhaar. The new move is to plug misuse and leakage. , Indian Railways have made it mandatory to furnish Aadhaar from July 1 to avail concessions on railway tickets.

Scholarships

Scholarships

If you are a college or school student and you want to get any scholarships by the government or are already getting it, after July 1, scholarships would not be given to you if you don't have Aadhaar. HRD ministry issued a notification that school and college students, for availing government scholarship should furnish Aadhaar details by June 30.

GST

GST

GST is the most important change that is coming in to effect from July 1. The government is launching a new national Goods and Services Tax (GST) on July 1 that will unify the economy and 1.3 billion people into a single market. The GST works on the concept of 'one nation, one tax, one market.'

Expat tax

Expat tax

From July 1, Indian origin expatriates will need to dole out expat tax for each of the dependents that shall be a big burden on them.

LPG Subsidy

LPG Subsidy

LPG subsidy and other PDS benefits only to be provided after the beneficiary's aadhaar are linked. For availing different public distribution subsidies, the individual needs to link the aadhaar number for it. Likewise, the ration card, LPG subsidy all are to be linked.

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