Several new financial rules have come into effect from June 1, 2026. These changes are for UPI users, ATM customers and taxpayers, mainly focusing on making digital payments safer and improving tax compliance.
Stronger Security For UPI Payments
UPI payments will now have extra security checks for high-value transactions. Apps such as Google Pay, PhonePe, and Paytm may ask users for biometric verification like fingerprint or face scan. Some payments may also need additional authentication to prevent fraud.
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Verified Name Before Sending Money
To reduce wrong transfers, UPI apps will now show the verified name of the recipient before a payment is completed. This will help users confirm that the money is being sent to the correct person.
UPI ATM Withdrawals Under Free Limit
Cardless cash withdrawals made through UPI at ATMs will now be included in a bank’s monthly free transaction limit. Once the free limit is crossed, users may have to pay extra charges.
Advance Tax Deadline On June 15
Taxpayers with a tax liability of more than Rs 10,000 must pay the first advance tax instalment by June 15. They are required to pay 15% of the total advance tax. Missing the deadline can attract a 1% monthly interest penalty.
EPFO May Allow PF Withdrawals Through UPI
The Employees’ Provident Fund Organisation (EPFO) is testing a new facility that could allow provident fund withdrawals through UPI. If launched, the process is expected to become faster and more convenient.
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PAN Rules For Cash Transactions
PAN is no longer required for routine cash deposits above Rs 50,000. However, PAN details will be needed if total cash deposits or withdrawals reach Rs 10 lakh or more in a financial year.
Higher PAN Limit For Property Deals
The PAN quoting limit for buying or selling property has been increased from Rs 10 lakh to Rs 20 lakh. Property transactions above Rs 45 lakh, along with gift deeds and joint development agreements, will now have stricter reporting requirements.
What Users Should Do
People should update their UPI apps, check recipient details carefully before making payments, and keep track of ATM withdrawals and tax deadlines to avoid penalties or extra charges.
Indrani Priyadarshini is a journalist and editorial professional specialising in technology, artificial intelligence, smart cities, green energy, and digital transformation. With over four years of experience in tech journalism and digital media, she is known for turning complex industry developments into clear, engaging, and insightful stories. Her expertise spans reporting, editorial strategy, digital publishing workflows, and in-depth coverage of emerging technologies shaping the future. She has also conducted high-profile interviews and podcasts with industry leaders, bringing sharp analysis and accessible storytelling to a wide audience.
