These things will change from October 1, know, what will be the effect on you

Many changes are going to be implemented from October 1, which will affect your personal finance. Since these rules are going to affect your everyday life, it is important to know about these changes in detail. There is also a possibility that the Home Ministry may give some more leeway in the next phase of unlock from 1 October. In this news, five are telling about such things, which may change from October.  

Cinema Hall : Despite requests made by the Multiplex Association of India, the MHA did not allow the cinema hall to reopen. However, the Secretary of the Ministry of Information and Broadcasting, Amit Khare, last month suggested to the MHA the arrangement of audience seating in movie theaters. According to this plan, alternate seats in the first and front lines will be kept vacant to maintain social distance.

West Bengal ’50 participants or less for all music, dance, singing and magic shows from October 1; Became the first state to announce the reopening of cinema halls.

Maintenance of vehicle documents through IT portal, e-challan : From 1 October , maintenance of vehicle documents including driving license and e-challan will be done through Information Technology Portal. Further, details of disqualified or revoked driving license by the licensing authority will be entered in the portal sequentially and such records will be shown on a regular basis.

5% tax on sending money abroad : A tax will be collected at source (TCS) at the rate of five per cent for sending money outside India. However, if the money is transferred from the loan taken for higher education, then the TCS rate will be 0.5 percent of the money. The Finance Act, 2020 has inserted a new sub-section (1G) in section 206C in this regard.

Rate of home, car and personal loan reduced: Reserve Bank of India (RBI) made it mandatory for banks to link their retail and MSME loans to external interest rate benchmark and the launch of this product means that home, car and personal Loan rates will be reduced.