June 1 Rule Changes: LPG, UPI, ATM and Income Tax Updates That Affect Your Wallet

Starting June 1, several key changes related to LPG cylinder prices, UPI payments, ATM transactions, and income tax rules have come into effect. These updates could impact your monthly budget, banking habits, and digital payment security.

June 1 Rule Changes

As June 1 begins, several important services in the country have new rules. From your kitchen expenses to digital money transfers, these changes can directly affect your daily life and monthly budget. So, it's essential to know about these new rules that are now in effect.

LPG Update

A major change affects LPG rules for homes with Piped Natural Gas (PNG). Under the new rule, you must surrender your old LPG cylinder within 30 days of your PNG connection becoming active. However, companies like Indane, Bharat Gas, and HP Gas are introducing a 'Connection Transfer Voucher' system. This gives you the option to get an LPG connection again in the future. As usual, the revised prices for LPG and commercial cylinders also come into effect today.

New UPI Rule

To boost digital security, UPI transactions now have a new safety feature. Before you send money through apps like Google Pay, PhonePe, or Paytm, the screen will now display the recipient's official name registered with their bank. The main goal is to reduce wrong transactions and prevent fraud.

ATM

Some changes are also happening in banking services. Many banks have started to strictly enforce the free ATM transaction limit. If you exceed this limit, you may be charged extra for services like cash withdrawal and balance enquiry. While some PAN rules have been relaxed, it is still mandatory for high-value transactions.

Income Tax Changes

Along with these, new procedures have started in the income tax and transport departments. For those who need to pay advance tax, June 15 is an important deadline. Also, the new timetable for Chennai's suburban train services is effective from today, so daily commuters need to double-check their travel times.