Published by: Vivek Dubey
Several things are going to change in July as the month of June comes to an end in two days. These changes and important deadlines will affect the finances of the citizens from July 1.
The domestic LPG cylinder prices may be reduced in July as they were unchanged in May and April while the commercial LPG cylinder prices were decreased.
The deadline for filing ITR for FY 2022-23 (AY 2023-24) is 31st July 2023. If they miss the deadline, they may have to pay a penalty under Section 234F and interest under Section 234A on the tax due.
The government has increased the TCS rate on international transactions using credit cards to 20% from July 1, 2023. However, payments up to ₹7 lakh in a financial year are exempt and can be claimed while filing ITR.
HDFC and HDFC Bank are merging on July 1, 2023 to create a banking giant with a combined market cap of around 14 lakh crore. The merger will benefit both the entities by enhancing their product offerings, customer base, credit growth, and infrastructure lending.
The government has introduced Quality Control Order (QCO) for footwear products from July 1, 2023. The QCO aims to improve the quality, safety, and competitiveness of the footwear industry.