Smart Prepaid Electricity Meters
The Ministry of Power has made installation of smart prepaid meters mandatory across all states starting Monday, 1 April 2019, to curb cases of fraud and rising complaints of inflated electricity bills. The new meters will have to be recharged for power consumption.
Equity Mutual Funds Set to Get Cheaper
Equity mutual funds would become cheaper starting today as the Securities and Exchange Board of India (Sebi) had announced a cap on the total expense ratio (TER) at 2.25 percent in late 2018, according to The Economic Times report.
For open-ended equity schemes, Sebi had recommended a Total Expense Ratio (TER) of 2.25 percent for the first Rs 500 crore of assets. As the assets under management increase, the TER would reduce, meaning – for the schemes of big fund houses, the TER would keep diminishing.
Linking PNRs
The Indian Railways will now issue linked PNRs for connecting journeys allowing passengers to cancel their onward journey without any cancellation fee, if it is due to delay in the first leg, PTI reported in February, quoting a senior official of the Railways.
This facility is applicable for all classes for both e-tickets and counter tickets and even a combination of both. Names of passengers on both the PNRs and the destination station in the main train should be same or in a defined cluster as the boarding station in the connecting train.
Vehicles to Become Expensive
Car and bike prices will go up as automobile manufacturers like Tata Motors, Datsun, Mahindra and Toyota have decided to increase prices from 1 April on account of 'rising input costs'. For instance, the price of Mahindra & Mahindra vehicles will likely go up by 0.5 percent to 2.7 percent due to the price hike, according to the company statement.
Tax Department to Check Taxpayer's Profiles Under ‘Insight’
With the Project Insight being launched, the Income Tax department will now keep a tab over your profile more closely than ever. The I-T Department has initiated the project to focus on three goals: (i) to promote voluntary compliance and deter non-compliance; (ii) to impart confidence that all eligible persons pay appropriate tax; and (iii) to promote fair and judicious tax administration.
Under this project, an integrated data warehousing and business intelligence platform will be rolled out in a phased manner.
Air Tickets Set to Get Expensive
Flying may get expensive if pilots of struggling carrier Jet Airways actually go on strike they had threatened with in March.
The National Aviator's Guild (NAG), which claims to represent around 1,100 of the 1,600 Jet Airways pilots, had announced last month that its members will not fly from 1 April, unless their salary dues were cleared and clarity was provided on future payments by 31 March. In addition, Air India, starting 1 April, will reportedly serve only Indian meals to flyers in order to reduce costs.
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