From free Aadhaar update to exchanging Rs 2000 notes: As September approaches, the personal finance landscape is anticipated to undergo a number of changes. From an extended opportunity for a free Aadhaar update to alterations in credit card rewards and the deadline for exchanging Rs 2,000 notes, these changes will have a direct impact on the lives of millions of people across the nation.
From free Aadhaar update to exchanging Rs 2000 notes: Changes to Axis Bank credit cards
Beginning on September 1, 2023, Axis Bank will implement modifications to its highly regarded Magnus credit card. Among the modifications are alterations to reward point values and the exclusion of particular payment categories from the reward point system. Notable among these modifications is the elimination of the Tata CLiQ voucher for new cardholders.
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Free Aadhaar revision
The deadline for complimentary Aadhaar updates will expire on September 14. This service is however only free on the myAadhaar portal and costs Rs 50 at physical Aadhaar centres, as was previously the case. If this is not completed by September 14, 2023, it will be charged on the myAadhaar portal beginning September 15, 2023.
From free Aadhaar update to exchanging Rs 2000 notes: Second instalment of the tax advance
By September 15, the second installment of advance tax for the assessment year 2024-25 must be remitted.
Advance tax is the tax that is paid within the same fiscal year that the income is earned. There are four installments. 15% of the total tax liability is due by June 15, while the remaining 45% is due by September 15.
The exchange of Rs 2,000 bills
The Reserve Bank of India (RBI) has stated that September 30, 2023 is the final day to exchange or deposit Rs 2000 banknotes, even though they will continue to be acknowledged as legal tender after that date.
Demat election
By September 30, 2023, the Securities and Exchange Board of India (SEBI) has mandated that all demat and trading account proprietors must have a nominee.
Existing investors who have previously submitted nomination information are not required to resubmit the information. Those who have not yet submitted nomination information but intend to do so or opt out of nomination may also be permitted to do so.
On trading platforms for stock brokers or depository participants that offer this service, investors can submit or withdraw their nominations using two-factor authentication logon. The previously required details, such as the nominee’s/guardian’s mobile number, email address, and identification information, have been made optional.
