Major financial overhaul begins April 1st as India implements sweeping regulatory changes.

Major financial overhaul begins April 1st as India implements sweeping regulatory changes. The new Income Tax Act, 2025 replaces six decades of tax framework, fundamentally reshaping India's direct tax system. Salaried employees face reduced take-home pay as companies must allocate at least 50% of salary as basic wages, increasing provident fund contributions. Banking changes include new ATM withdrawal fees, with HDFC Bank charging 23 rupees per UPI cash transaction after five free withdrawals. Post office schemes maintain interest rates at 4%, while Kisan Vikas Patra offers 7.5% returns maturing in 115 months. Additional impacts include House Rent Allowance revisions and railway ticketing reforms. These comprehensive policy shifts will significantly influence household finances, banking practices, and compliance requirements for millions of citizens across the country.