5 major financial changes and deadlines in July 2024 – ITR filing, digital wallets, credit cards and more

financialexpress.com:

July financial deadlines and rules change: In the month of July, there are several financial deadlines and changes in rules, which will come into effect. Besides, there is one key economic event – Union Budget, which is likely to be presented on July 23 or 24 in the second leg of the Monsoon Session of parliament.

Here are some of major financial changes and deadlines to take effect this month:

The deadline to file Income Tax Return (ITR) for the financial year 2023-24 (Assessment Year 2024-25) is July 31, 2024. Most salaried taxpayers are likely to have received their Form 16, an important document that gives an account of tax deducted and deposited with the government. Form 16 facilitates in filing of income tax returns faster and in hassle-free manner by salaried individuals.

Also read: Credit Card for Senior Citizens: Why senior citizens should start using credit cards

Finance Minister Nirmala Sitharaman will present the Modi 3.0 government’s first budget in Parliament in the third week of July. Like expected in every budget, this time also there are expectations that the FM would announce some key measures that might have potential to impact financial and regulatory activities across sectors.

SBI Card announced some changes pertaining to reward points accrual. Effective July 15, SBI Cards will stop awarding reward points for government-related transactions on some of its cards.

SBI Card has announced discontinuation of accrual of reward points on government-related transactions on cards like Air India SBI Platinum Card, Air India SBI Signature Card, Central SBI Select+ Card, Chennai Metro SBI Card, Club Vistara SBI Card, Club Vistara SBI Card PRIME, Delhi Metro SBI Card, Etihad Guest SBI Card, Etihad Guest SBI