We will be going through a number of major changes from July 1st onwards. The revisions that will come in to play apply to more than just Goods and Services Tax (GST), it will also include the role of Aadhaar, Passport and scholarships for schools and colleges as well. We wrap up the list of changes that will come into effect on July 1:
1. Changes in school and college scholarships from July 1st onwards
Students who are looking to get scholarships or are already getting it would need to furnish their Aadhaar details by June 30. The HRD ministry had issued a notification about this and students without it will not be able to avail of scholarships if they do not have Aadhaar.
2. Curriculum for CAs change from July 1st onwards
A new syllabus for those studying to become chartered accountants will be launched on July 1 by Prime Minister Narendra Modi. This new syllabus will include the taxation system under GST and will be in accordance with the International education standards of the International Federation of Accountants.
3. Filing of IT returns
After July 1, you will not be able to file your returns without Aadhaar. As per government amendments, it is now compulsory to mention Aadhar for filing income tax return.
4. Linking Aadhaar with PAN
In order to put an end to people using multiple PANs to evade taxes, the government has also made it compulsory to link Aadhaar with PAN. Your PAN could become invalid if you do not link PAN and Aadhaar – as mandated by section 139AA of the Income Tax Act.
5. From July 1st onwards, no new PAN card without Aadhaar
You will not be issued a new PAN card after Saturday, July 1, without your Aadhar card – it will now be a must have.
6. No passport without Aadhaar
After July 1 you will not be able to get a passport without furnishing your Aadhaar card. Aadhaar card has been listed as one of the mandatory documents for applying for a passport by the Ministry of External Affairs.
7. Link PF account with Aadhaar
It also compulsory to link your PF account with Aadhaar by June 30 as the Employees’ Provident Fund Organisation (EPFO) has made it compulsory to do so. By asking pensioners to furnish their Aadhaar details, it is expected that the withdrawal and settlement process time will be shortened by about half – from around 20 days to 10 days.
8. Concessions on railway tickets
Indian Railways have also made it mandatory to quote Aadhaar details from July 1 onwards to avail of the concessions doled out on railway tickets. This, the hope, will stop leakages and misuse.
9. Changes to availing PDS benefits
To get all PDS subsidy benefits, individuals would need to link their ration cards with Aadhaar before July 1. Public distribution benefits will also be linked to Aadhaar.
10. Doing away with departure flyer forms
Looking to make immigration formalities hassle-free and less time-consuming, Indians flying abroad will no longer be required to fill departure cards post June 30.
11. Online visitor visa for flying to Australia
To speed up the approval process, the Australian government had announced that Indian visitors could apply for their visitor’s visa online from July 1.
12. Expat tax in Saudi Arabia from July 1
A monthly expatriate levy on dependents of expatriates will be introduced from July 1 by Saudi Arabia. For the current year, the fee per dependent will be charged at 100 riyals or around Rs. 1,721. This will be doubled to 200 riyals from July next year, tripled to 300 riyals in 2019 and quadrupling to 400 riyals from July of 2020. However, this fee will not be levied on domestic helpers and drivers. It has been introduced to encourage firms to hire more Saudis.