It is very important for you to know the rules that are going to change from July 1.
These rules will change from 1 July
The blow will fall on your pocket Very important for you to know
With the start of July, the days of reckoning are numbered. From July 1, your pocket will be hit hard. Your EMI will be expensive. If you trade cryptocurrency your trouble is bound to increase and if you do not complete these important tasks related to demat account and PAN support then you may face trouble.
Aadhar-PAN Linking
If you have not yet linked your Aadhaar card with PAN card then in any case do this work before 30th June 2022. Because after June 30 you have to pay double penalty. In fact, from April 1, 2022, Aadhaar will have to pay a penalty of Rs. 500 for linking to a page number.
But if you do not link by June 30, 2022, you will have to pay a fine of Rs 1,000 from July 1. The CBDT said that in order not to inconvenience the taxpayers, they are being given the facility to link Aadhaar with PAN till March 31, 2023. However, fines have to be paid.
Home Loan EMI
From July 1, 2022, the EMI of a home loan will be higher for customers whose home loan reset date is July 1, 2022. EMIs for home customers will go up from July. Following the RBI's decision to raise the repo rate, every bank and housing finance company has made home loans more expensive and those whose home loan reset date is July 1 will have to pay more EMIs this month.
Suppose you have previously paid Rs. Has taken a home loan of Rs lakh. So you have to pay Rs. EMI of has to be paid. Now after raising the interest rate on home loan by half a per cent, you will have to pay EMI of per cent. This means an additional burden of Rs. per month and an additional burden of Rs. for the whole year.
TDS On Cryptocurrency
Cryptocurrency investors will face a major setback from July 1, 2022. From 1 July 2022, TDS will be payable on all crypto transactions. Even if it is sold at a profit or loss. It has been decided to levy 30% capital gains tax on income from cryptocurrency from the year 2022-23. Also, from July 1, 1 percent TDS will have to be paid on crypto transactions.
Let me tell you that investors who do not sell cryptocurrency for profit will also have to pay tax. Investors investing in such cryptocurrencies will have to pay one per cent TDS so that the government can locate the exact location of the cryptocurrency traders
Demat Account KYC
If you have not KYCed your demat trading account, you now have till June 30, 2022. You can KYC the demat trading account till June 30. KYC of existing demat account and trading account can be done till June 30, 2022, according to stock market regulator SEBI.
This is a one time extension and during this period demat account holders who have not yet been able to KYC their demat account will have to undergo KYC. Each demat account needs to be KYCed with six details. But not every demat account has been updated with six KYC criteria so far. A demat, trading account holder is required to update these six KYC features. Includes name, address, page, mobile number, valid email id, age limit. The new demat account opened from 1st June 2021 requires 6 KYC features each.
Discount On Property Tax In Delhi
If you live in Delhi and have your own home then you have to pay property tax to Delhi Municipal Corporation every year. If you want 15% discount on property tax, pay the property tax before June 30, 2022. If you pay property tax on or after July 1, 2022, you will not be entitled to 15% discount.
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