Money Rule Changes from June 1, 2025: Starting June 1, 2025, several new financial rules will come into effect. These changes may impact both individuals and businesses involved in financial activities.
Some key updates include the launch of the new EPFO 3.0 system, the deadline for TDS (Tax Deducted at Source), and SEBI’s new cut-off timing for overnight mutual fund schemes.
Here is a list of important 1 June money rule changes that all individuals and businesses must know:
1. EPFO 3.0 Launch
- EPFO is expected to launch its new system, EPFO 3.0.
- Members may soon be able to withdraw PF money instantly using UPI or ATMs.
- You can also check your PF balance on UPI apps and transfer money to your bank account easily.
2. Income Tax Deadline
- June 15, 2025 is the last date for employers to issue Form 16 to employees.
- Form 16 confirms that tax was deducted from your salary and submitted to the Income Tax Department.
- For FY 2024–25, Form 16 must be given by June 15, 2025.
3. Free Aadhaar Update details
- June 14, 2025 is the last day to update Aadhaar details for free on the myAadhaar portal.
- After this, it will cost ₹25 online and ₹50 at Aadhaar centres.
4. SEBI Rules for Mutual Funds
- From June 1, 2025, SEBI is changing the cut-off timings for overnight mutual fund schemes:
- 3 PM for offline transactions
- 7 PM for online transactions
- This change is meant to make NAV calculation more transparent.
5. Fixed Deposit (FD) Interest Rate Cut
- Suryoday Small Finance Bank will lower its FD interest rates from June 1, 2025.
- New rates will range from 4% to 8.4% for deposits under ₹3 crore.
6. Credit Card Rule Changes
Kotak Mahindra Bank
- From June 1, 2025, new charges will apply for:
- Standing instruction failures
- Dynamic currency conversion
- The bank will also update how it calculates the Minimum Amount Due.
HDFC Bank
- From June 10, 2025, new lounge access rules for Tata Neu Infinity and Plus cardholders.
- Access will now be based on quarterly spending vouchers instead of direct card swipes.
Axis Bank
- Changes include updates to reward points, cashback, lounge access, and spending categories.
- Starting June 20, 2025, Axis Bank will make changes to its REWARDS Credit Card.