Financial year in India begins on April 1. From this day onwards, new tax laws announced by the Finance Minister Nirmala Sitharaman come into force. Regulations pertaining to taxes, FASTags, savings programmes (NPS & EPFO), and other financial issues have been updated for the next fiscal year. India will adopt the new tax structure as the default option on April 1, 2024. For provident fund balance, the Employees' Provident Fund Organisation (EPFO) has put in place an automated transfer mechanism. Users should complete the FASTag KYC before March 31st.