April 1 Financial Rule Changes LIVE Updates: As the new financial year 2026-27 (FY27) begins on Wednesday, 1 April, India is set to witness the implementation of several new financial and regulatory rules. These changes are expected to directly impact the day-to-day lives of citizens across the country.
From changes in income tax return (ITR) filing norms and PAN regulations to revisions in salary structure and LPG prices, multiple policy changes will come into effect with the start of FY27, influencing household finances as well as banking and compliance practices.
Among the key changes, India’s six-decade-old tax framework under the Income Tax Act, 1961 will be replaced by the newly introduced Income Tax Act, 2025, on 1 April, marking a significant overhaul of the country’s direct tax system.
Meanwhile, banks will also make a host of new changes to crucial tasks such as ATM cash withdrawal limit. For example, HDFC Bank will now charge ₹23 per transaction on UPI cash withdrawals at ATMs after five free transactions.
What salaried people should know?
It’s important for salaried individuals to know that their take-home salary is likely to be reduced if the new labour laws come into effect from 1 April.
Under the ‘wages’ section of the four new labour codes brought in by the government, companies will now have to pay at least 50% of your salary as the basic wage component. The latest change means that your provident fund contribution will increase, effectively reducing in-hand salary of a person.
Some other changes that are expected to impact a taxpayer’s lives include changes to House Rent Allowance (HRA) rules, new ticketing reforms introduced by Indian railways, and others.
Follow for April 1 2026 financial changes LIVE updates on Mint.
