What are the rules going to be changed from tomorrow?

As we wave goodbye to 2023, brace yourselves for some important changes coming our way in January 2024. From bank lockers to your income tax returns, here's a breakdown of what's going to change:

1. Bank Locker Agreements

If you have a locker in the bank, today is the last day to deposit funds and sign the updated bank locker agreement. Miss this deadline, and starting January 1, your locker might be frozen. Don't let that happen!

2. Insurance Policy

Starting the first day of the new year, the Insurance Regulatory and Development Authority of India (IRDAI) says that all insurance companies must give you a customer information sheet. This sheet is like a cheat code for understanding your insurance policy. It's there to make things simpler for you.

3. Insurance Trinity Project

The Insurance Trinity Project is like a superhero trio: Insurance Sugam, Insurance Extension, and Insurance Carrier products. They want to make buying insurance easy (Bima Sugam), provide affordable protection (insurance expansion), and even empower women through insurance carriers. Keep an eye out for the official launch in January or later.

4. Income Tax Return Filing

If you haven't filed your income tax returns for the financial year 2022-23 (AY-2023-24), you've got to get on it. Starting January 1, you can't file late returns anymore. And if there are mistakes in your returns, no more chances to fix them. Make sure you follow these updated rules – it's important stuff!

5. SIM Card Regulations

The government is cracking down on online fraud with new rules for buying and keeping SIM cards. From now on, you'll need to go through a digital Know Your Customer (KYC) process to get a SIM card. That means giving some biometric data. If you're caught with a fake SIM card, it could mean three years in jail and a massive fine of Rs 50 lakh. Plus, sellers will face strict verification, and bulk distribution of SIM cards is a no-go.

These are the five major changes in regulations! 

Be ready for them with the new year.

Until then...

Make sure to check out Shree Sarang, which delivers the best artificial jewellery for all types of outfits to enhance your beauty at the most affordable price and is also the sponsor of this article.