From LPG cylinder prices to interest rates, THESE 5 changes will affect common man from June 1

New Delhi: Like every month, a few changes will be implemented from the 1st of June by the Indian government. Some of these changes such as the small saving schemes Sukanya Samriddhi or LPG Gas Cylinder price change directly affect the pocket of a common man. 

Here are the 5 changes that are likely to impact you from June 1

1. Income tax’s e-tax filing site will be closed from June 1

The official e-tax filing site of the Income Tax Department will not work from June 1 to 6, 2021, as the department is moving to a new modern platform. The IT department will roll out the new site on June 7, which means that you’ll be able to file your ITR from June 7 onwards. The URL of the updated website will be http://INCOMETAX.GOV.IN. 

2. Bank of Baroda to introduce a Positive pay system 

Bank of Baroda is going to introduce a positive pay system to protect its customers from bank frauds. Under this system, the bank will confirm the details with the customer in case of a cheque worth Rs 2 lakh or more. 

3. LPG Cylinder Price change

Oil companies are likely to change the prices of LPG cylinder from June 1, just like how they update it on the 1st of every month. However, many times the rates remain unchanged too. At present, the price of a 14.2 KG LPG cylinder, which is commonly used in our households, is Rs 809 in Delhi. 

4. Interest Rate changes of Small Savings Schemes

In the month of June, interest rates of several Small Saving Schemes such as the PPF, NSC, KVP and Sukanya Samriddhi are up for a change. The government changes the interest rates of these schemes every three months. However, there have been many instances when the interest rates go unchanged for the next month. 

5. Google Photos free unlimited storage service to end

Google is ending its free unlimited cloud storage for ‘Photos’. Users will now only get a 15 GB free space to upload their photos and videos on the Google Photos platform. However, they can buy the Google One subscription which is priced at Rs 130 per month or Rs 1300 a year to continue enjoying unlimited cloud storage on Google Photos.