Money Rules Changing From November 1 You Should Know About

A new month brings new rules, and November 1 is no exception. Several changes that take effect that day could affect your money and daily routine, from how you invest in mutual funds to how you receive pension payments and how calls appear on your phone.

Asset management companies must make direct plans of mutual funds the default option on their digital platforms beginning November 1. If an investor selects a regular plan, the AMC must clearly disclose its higher expense ratio.

Pensioners have a set window for their annual life certificate. Those under 80 can submit between November 1 and November 30. Pensioners aged 80 and above have had this option since October 1.

Pensioners may visit their bank branch to submit the certificate in person. They may also complete the process digitally through the Jeevan Pramaan service, which uses Aadhaar-based and face authentication.

The PFRDA has also introduced the UPS Jeevan Setu Digital Life Certificate (DLC) for Unified Pension Scheme subscribers. Eligible pensioners need to submit their annual life certificate through the Protean eGov app by November 30.

Mobile users will notice a change as well. The Department of Telecommunications has made the Calling Name Presentation (CNAP) service compulsory for all telecom operators from November 1. Incoming calls will display the caller's name along with the number, helping users recognise who is calling.

GST amendments coming into force on November 1 cover post-supply discounts, credit notes and refunds. Post-sale discounts that qualify for exclusion from taxable value are subject to revised conditions, which include reversing the related input tax credit.

The amendments also add refund provisions, including those relevant to businesses facing an inverted duty structure.