👉 1 April 2026 से लागू बड़े बदलाव | Income Tax, GST, Banking, Cash, UPI सब बदल गया!

Summary

The video explains key financial and regulatory changes effective from April 1, 2026. It covers updates to banking transaction rules, such as the new charges for ATM and UPI withdrawals, changes in zero balance accounts, and digital fraud compensation. It also highlights updates in income tax laws, including the transition to a 'tax year' system, new forms, and PAN card requirements for various transactions. GST rules are also discussed, with important deadlines and changes in reporting requirements. Viewers are encouraged to stay informed and subscribe for further updates and practical courses.

Takeaways

• 😀 Starting 1st April 2026, UPI withdrawals from ATMs will count toward your free transaction limit, and any excess transactions will incur a ₹23 charge per transaction plus GST.
• 😀 Zero-balance accounts now come with more facilities and fewer restrictions, making them more attractive to open.
• 😀 Digital fraud victims can now claim 85% of their losses (up to ₹20,000) as compensation if reported within 5 days to the bank and cybercrime portal. This can be claimed once in a lifetime.
• 😀 The new Income Tax Act 2025, effective from 1st April 2026, introduces a shift to a 'tax year' model, replacing the previous 'previous year' and 'financial year' terms.
• 😀 PAN is now mandatory for a wider range of transactions, including cash deposits, withdrawals, and investments in mutual funds, stocks, and properties exceeding certain limits.
• 😀 GST changes include new filing deadlines and limitations on switching from the Composition Scheme to the Normal Taxpayer regime, effective 1st April 2026.
• 😀 If you’re depositing or withdrawing ₹1 lakh or more in cash from your bank account, your PAN will now be required, and the bank will report it to the Income Tax Department.
• 😀 The new Income Tax filing deadlines for the 2025-26 financial year are: - 31st July for non-business/non-audit returns - 31st August for business/non-audit returns - 31st October for audited returns.
• 😀 There are new mandatory requirements for PAN when purchasing motor vehicles worth ₹5 lakh or more, real estate exceeding ₹10 lakh, or when making certain insurance and financial transactions.
• 😀 The Income Tax portal has been revamped, with new forms and challans for the 2026-27 tax year, and updated processes for TDS, TCS, and ITR filings.

Q & A

What significant change will occur in ATM withdrawals starting April 1, 2026?

Starting April 1, 2026, both debit card and UPI-based ATM withdrawals will count towards the same free transaction limit (5 or 3 transactions, depending on the city). After exceeding this limit, a charge of ₹23 plus GST will apply.

How will the rules for zero balance accounts change from April 1, 2026?

From April 1, 2026, banks will offer more facilities and benefits for zero balance accounts, which were previously limited in terms of services and benefits.

What does the new digital fraud compensation rule entail?

If a digital fraud occurs, the victim will be compensated for 85% of the loss or up to ₹20,000 (whichever is lower). This compensation is available only once in a lifetime and must be reported within 5 days to the bank and the cybercrime portal.

What is the new tax year concept under the Income Tax Act 2025?

The new Income Tax Act 2025, effective from April 1, 2026, introduces the concept of 'Tax Year,' replacing the old terms 'Previous Year' and 'Financial Year.' This change also affects filing and forms related to the tax year.

When will the new forms for Income Tax be available?

The new forms for Income Tax, related to the Tax Year 2026-27, are already available on the Income Tax portal, and the new challans are live as well.

What changes have been made to PAN card requirements for certain transactions?

As of April 1, 2026, PAN will be required for transactions like purchasing vehicles (if the amount exceeds ₹5 lakh), buying property (₹10 lakh), and certain cash deposits or withdrawals above ₹1 lakh in a financial year.

What is the threshold for requiring PAN for cash transactions at the bank?

If cash deposits or withdrawals exceed ₹1 lakh in a financial year, the bank will require PAN. For larger amounts (over ₹10 lakh), PAN will always be required for transactions in a year.

What are the updated deadlines for Income Tax Return (ITR) filing?

The new ITR filing deadlines are as follows: Non-business/non-professional: July 31, 2026; Business/professional (non-audited): August 31, 2026; Audited cases: October 31, 2026.

How has the GST filing process changed starting April 1, 2026?

Starting April 1, 2026, businesses cannot switch to the Composition Scheme from the Normal Taxpayer scheme. However, they can withdraw from the Composition Scheme or register for it fresh. Businesses must also start new invoice series and comply with updated GST rates.

What should taxpayers keep in mind about the new Income Tax filing process for 2025-26?

Taxpayers must file their Income Tax Returns under the old tax regime for the financial year 2025-26, as the new provisions and forms will apply from April 1, 2026. It is essential to check compliance with all rules, such as PAN linking and updated limits, before filing.