Big Financial Changes From Today! Tax on Cryptocurrencies, Hike on Two Wheelers, ACs, Check Detailed Information Here
Sushmita Goswami | Jul 1, 2022 |
Big Financial Changes From Today! Tax on Cryptocurrencies, Hike on Two Wheelers, ACs, Check Detailed Information Here
From July 1 i.e. today, several laws governing financial transactions will change. You’ll have to pay a price for some of the change regulations. The modifications will also have an impact on people who use credit and debit cards, invest in cryptocurrencies, and have PAN cards. So it’s important that you are well informed of the new regulations.
Starting from today i.e 1st July 2022, Air Conditions will be costly. Actually, the BEE, or Bureau of Energy Efficiency, modified the guidelines for air conditioner energy ratings. The new policy will take effect on July 1st. As a result, starting on July 1, 5-star air conditioners will only receive a 4-star rating. The cost of air conditioning in India is predicted to rise by 7–10% in the upcoming years as a result of the new energy efficiency regulations.
The world’s largest manufacturer of two-wheelers, Hero MotoCorp, has previously disclosed a price hike on its vehicle. From today, the cost of the company’s automobiles will increase by up to Rs 3,000. According to the corporation, it was forced to make this choice because of rising inflation. In the future, other companies may also increase its price as Hero MotoCorp.
The costs of Commercial gas cylinders have decreased. In Delhi, the cost of a 19 kg commercial cylinder has decreased from Rs 2219 to Rs 2021. In a similar vein, this cylinder will now be sold for Rs 2140 as opposed to Rs 2322 in Kolkata. Mumbai’s price dropped from Rs 2171.50 to Rs 1981, while Chennai’s price dropped from Rs 2373 to Rs 2186.
The rate of the gas cylinders has come down by Rs 198 in Delhi, Rs 182 in Kolkata, Rs 190.50 in Mumbai and Rs 187 in Chennai. In the last month (June), the rates of commercial cylinders were reduced by Rs 135. However, no relief was given by the oil companies in the domestic gas cylinders. The price of a 14.2 kg gas cylinder in Delhi is Rs 1003.
The final day to complete KYC for trading and Demat accounts was June 30, 2022. If you haven’t completed the KYC process for the account in this case, it will be terminated. You won’t be able to trade on the stock market with this. The shares of a corporation cannot be transferred to the account even if a person buys them.
To link PAN with Aadhaar from today i.e. July 1, you will have to pay Rs 1,000. This work was done for Rs 500 up till June 30. Now you have to pay Rs 500 more.
From today, 1 percent will be added to any cryptocurrency transaction that costs more than Rs 10,000 in a single year. The disclosure requirements for TDS for virtual digital assets have been announced by the income tax department (VDA). All digital or NFT currencies will fall within its authority.
From today, TDS will be due at a rate of 10% on gifts received from businesses. Both doctors and social media influencers will be subject to this tax. When holding the products given to the social media influencers by the corporation for marketing objectives, then social media influencers must pay TDS. TDS won’t have to be paid if they return the item.
From today, EMIs will become expensive for those home loan customers whose home loan reset date is July 1, 2022. Those whose home loan reset date is 1st July will have to pay more EMI.
If you pay property tax in Delhi on or after today i.e. July 1, 2022, you will not be entitled to 15% discount.
On the Delhi-Dehradun Highway (NH 58), toll prices have increased as of July 1. (12 pm on Thursday). During the lockdown, the toll rate was not raised. Visitors will pay an extra fee starting on July 1 that ranges from Rs 5 to Rs 80.
Starting From today, banks can issue debit cards to any customer even with the approval of their board, they do not need the approval of the Reserve Bank of India for this. Bank debit cards can be given only to customers with savings and current accounts.
In case of any Doubt regarding Membership you can mail us at contact@studycafe.in
Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"
