From today, start saving, spending and investing in a new fashion

Tax measures that were declared in the interim Budget, which were repayment for those earning up to Rs 5 lakh a year, higher standard deduction, changes in notional rent and capital gains for a second house and interest income etc, come into effect from Monday. Moreover, starting from today the new GST arrangement for the real estate sector declared last month will also be applicable.

Social networking sites will be watched by the Tax department

People will be tracked by the taxmen even more carefully now than the previous times. The Income Tax department has given taxmen access of the Project Insight (a tax tracker based on big data built at a cost of Rs 1,000 crore) portal that has much more information than ever about everyone.

To buy cars they have to pay more

The car prices will rise up slightly. Most important automakers (like Mahindra and Mahindra, Tata Motors and Toyota) had declared increase in prices operational from today due to 'rising input costs'. Nonetheless, in a slow market, car makers continue to offer discounts, which mean the hikes won't hurt the people much.

If pilots of struggling private carrier Jet Airways go on strike, flying will become expensive.

The employees of the airline, including the engineers and senior staff, have not been paid for nearly four months and want their dues cleared and a roadmap on upcoming payment. The airline's response was that it can at best pay one month's payment. Moreover, to cut costs, Air India will now only serve Indian food, starting today.

SEBI's rule on share transfer

Transfer of shares of listed companies can now be done only in the dematerialised (demat) form though you can continue to hold shares in the physical form as mandated by the Securities and Exchange Board of India (Sebi).