[Latest News] 1 October New Rules banking and driving

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  • Money sent abroad will be taxed at 5%
  • Mobile can only be used to view a road map while driving

Latest News] 1 October New Rules banking and driving.

Other rules, including banking and motor vehicle, are set to change from October 1. TCS (Tax Collected at Source) will now be deducted even if the money is sent abroad. In addition, from October 1, important documents related to the vehicle, such as licenses, registration documents, fitness certificates, permits, etc., can be maintained through a government-run web portal. We're telling you about changes that will affect you as well.


If more than Rs 7 lakh is sent abroad, TCS will be deducted.


From October 1, an important rule of income tax is being changed in the country. According to this, money will now be sent out of the country but TCS will be cut. Under Section 206C (1G) of the Income-tax Act, it has been decided to extend the scope of TCS and apply it to the Liberalized Remittance Scheme (LRS), i.e. along with travel, education, etc. Now 7% TCS will be deducted on remittances of Rs 7 lakh or more.


The Mobile can be used to see the road while driving 

Ministry of Road Transport and Highways said that from October 1, mobile or other handheld devices can be used while driving, but it will be used only to see the map. In addition, care should be taken not to distract the driver while driving with the help of mobile. However, a fine of Rs 1,000 to Rs 5,000 can be imposed for talking on a mobile while driving.

Buying a TV will be expensive


From October 1, buying a TV will also be expensive. The government has decided to abolish the 5% customs duty on imports of open cell used in TV manufacturing. The government granted a one-year exemption for this, which will expire on September 30. This will increase the price of a 32-inch TV by Rs 600 and a 42-inch TV by Rs 1,200 to Rs 1,500.



LPG can be cheaper


Government companies change the price of LPG and natural gas at the beginning of each month. Prices of 14.2 kg and 19 kg gas cylinders were reduced in September. It is expected that LPG prices may fall in October.

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