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New Rules Effective August 1: With the start of August, several major rules have come into effect across the country today. These changes will directly impact the pockets and daily lives of the general public. New prices for commercial LPG cylinders and petrol-diesel have been implemented starting today. Changes have been made to the railway's Tatkal ticket booking system, penalties will apply for late ITR filing, and Aadhaar CKYC 2.0 has been implemented. Additionally, several other significant changes—including those related to Speed ​​Post, bank holidays, and SEBI's buyback rules—are now in effect.

10 Major Changes Effective from August 1
1. Commercial LPG Cylinder Price Reduced
State-run oil companies (IOCL, BPCL, and HPCL) have implemented new LPG cylinder rates starting August 1. Providing significant relief to commercial consumers, the price of the 19 kg commercial LPG cylinder has been slashed.

The price of a commercial cylinder has dropped by ₹209 in Kolkata and ₹202 in Delhi. Following this, the price stands at ₹2,872.50 in Kolkata and ₹2,738 in Delhi. However, there has been no change in the prices of 14.2 kg domestic LPG cylinders.

2. New Petrol and Diesel Rates Released
State-run oil companies released new rates for petrol and diesel this morning. There has been no change in prices across the country today. In Delhi, petrol remains stable at ₹102.12 per litre and diesel at ₹95.20 per litre. However, minor fluctuations have been observed in some cities due to variations in VAT.

3. New Token System for Tatkal Ticket Booking Implemented
A new token system for booking Tatkal tickets at railway reservation counters has been implemented starting today. Passengers will now receive a token first, and tickets will be booked in that specific order. This measure is expected to reduce long queues and disorder.

4. Penalty for late ITR filing
With the July 31 deadline having passed, eligible taxpayers filing ITR-1 and ITR-2 late may now have to pay a late fee. Meanwhile, the deadline is August 31 for taxpayers filing ITR-3 and ITR-4 who are not required to have their accounts audited. A late fee of up to ₹5,000 may be levied under Section 234F of the Income Tax Act.

5. Aadhaar-based CKYC 2.0 implemented
Banks, insurance companies, and mutual fund houses have started implementing CKYC 2.0 from today. This will allow KYC information to be retrieved directly from the central registry based on the customer's digital consent, thereby reducing the need to submit documents repeatedly.

6. New Speed ​​Post rules and rates in effect
New categories and charges for Speed ​​Post have come into effect today. Items such as Aadhaar cards, PAN cards, passbooks, chequebooks, and other government documents will now fall under the 'Documents' category, while other items will remain in the 'Parcel' category.

7. Banks to remain closed for 14 days in August
Banks will remain closed for a total of 14 days in August, accounting for Sundays, the second and fourth Saturdays, Independence Day, Raksha Bandhan, Janmashtami, and various state-specific festivals. However, holidays will vary by state, so please check the RBI holiday list for your city.

8. New stock limits on sugar implemented
New stock limits for sugar dealers have come into effect today. Dealers can no longer hold sugar stocks exceeding 4,000 quintals or keep stock for more than 30 days. This rule will remain in force until November 30, 2026.

9. Smart card mandatory for free bus travel in Delhi
The 'Pink Saheli Smart Card' has become mandatory for women in Delhi to avail of free bus travel starting today. A free ticket will be issued only after tapping the card on the bus.

10. SEBI's New Buyback Rule Comes into Effect

SEBI's new buyback rule has come into effect today. Listed companies will now be able to buy back a maximum of 15% of their total paid-up capital. Additionally, the entire process must be completed within 66 working days. The objective of the new rule is to enhance transparency and better protect the interests of investors.

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