From April 1, here is how your financial life will change

The end of the fiscal is almost upon us and a huge number of changes in financial space are set to kick in. The Central government has made numerous proposals in the Budget that have been cleared for implementation and to get you up to speed on them, we list some of them here point-wise so that you are not caught by surprise by some happening mid-way through the fiscal. Union Finance Minister Arun Jaitley had presented Budget 2018 in the Lok Sabha on February 1 and this was his fourth one. It revealed that the focus of the PM Narendra Modi led government was on agriculture and healthcare even as he left personal income tax rates unchanged. FM Jaitley had then said, "This budget blends fiscal prudence with the requirements and needs of the economy and we are confident of limiting fiscal deficit target for 2018-19 within 3.3 per cent." Several Budget proposals including reintroduction of tax on Long term capital Gain exceeding 1 lakh from sale of shares will kick in from tomorrow. 
 
 1. 25% Reduction of corporate tax on businesses on turnover of up to Rs 250 crore

2. Rs 40,000 Standard deduction in lieu of transport allowance and medical reimbursement
3.  Rs 50,000 Per year exemption limit on income from interest for Senior citizens

4. Rs 50,000 limit of deduction for health insurance premium and medical expenditure
5. Rs 100,000 tax deduction for critical illness for senior citizens and very senior citizens

6. 4% Health and education cess on all taxable income
7.  10% tax on LTCG exceeding Rs 1 lakh from sale of shares. 

8. No tax on capital gains made on share sale after a year of purchase

For latecomers:
RBI offices and all designated branches of agency banks conducting government banking to keep counters open up to 8 pm today. Electronic transactions can be done until midnight.