Certain changes in taxation & stock market to come into effect from today; fee for PAN-Aadhaar linking to be doubled
Certain changes in taxation and the stock market will come into effect from today. In Union Budget 2022, the government had made provision for one per cent Tax Deducted at Source (TDS) on cryptocurrencies which will be applicable from today. From April this year, 30 per cent income tax on crypto currencies has also been imposed. The fee for PAN-Aadhaar linking will also be doubled from today. The fee for linking PAN with Aadhaar after 31st March to 30th June 2022 was 500 rupees. Now, if a person fails to link PAN with Aadhaar during that period, they will have to pay a double fee of one thousand for PAN-Aadhaar seeding.
The Income Tax Rule will also be changed from today for doctors and influencers and 10 per cent TDS on benefits received via sales promotion on doctors and social media influencers will be effective. However, it will be applicable only when the cost of the benefit is over 20 thousand rupees in a single financial year.
Last month, the Securities and Exchange Board of India had announced that all demat accounts need to be tagged by 30th of June this year. From today onwards, the Credit of securities will not be allowed in any demat account left untagged.
