5 major changes including banking and income tax e-filing from June 1

Several changes which will have a direct impact on your pocket and life are going to take place across the country from June 1

5 major changes including banking and income tax e-filing from June 1

Several changes which will have a direct impact on your pocket and life are going to take place across the country from June 1 , therefore, it is important to keep the information of these rules with you beforehand. From June 1, the mode of cheque payments in Bank of Baroda is going to change. We are telling you about 5 such changes that will affect you.

1. Positive pay system will be applicable in Bank of Baroda from June 1

Bank of Baroda is going to change the mode of payment for cheques from June 1. Positive pay confirmation is mandatory for bank customers to avoid being a victim of fraud. The purpose of implementing this system is to prevent fraud through cheques. Customers will have to reconfirm cheque details under the Positive Pay system only when they issue bank cheques of Rs 2 lakh or more.

Under the positive pay system, the issuer of the cheque will have to give some information related to that cheque to the paying bank electronically. This information can be given through SMS, Mobile App, Internet Banking, or ATM.

2. Gas cylinder prices will change

Government oil companies decide the prices of LPG cylinders on the first date of every month. Prices may increase or decrease as per the available circumstances. In such a situation, the prices of cylinders may change on 1 June.

3. More storage will cost ‘extra’ for Google storage

Google photos will not be able to upload unlimited photos from June 1 onwards. According to Google, 15GB of space will be given to every Gmail users. This space includes Gmail's emails as well as your photos. It also includes Google Drive. If you want to use more than 15GB of space, then you have to pay for it. Till now unlimited storage was free.

4. Income tax e-filing site will be closed from June 1

The Income Tax Department's e-filing portal will not work from June 1 to 6. On June 7, the Income Tax Department will launch a new portal for income tax e-filing for taxpayers. According to the Directorate of Income Tax, the official website of filling the ITR will change from 7 June 2021. From June 7, it will become http://INCOMETAX.GOV.IN. Currently, it is http://incometaxindiaefiling.gov.in.

5. Unlock process will begin

Lockdown can be relieved from June 1 in Delhi and Madhya Pradesh. Corona cases are coming down in the country, because of this; a decision can be taken to give relief from the lockdown. However, there is little hope of relief in the cities with more cases.