After the start of the second quarter of the financial year 2022-23, three major changes in the income tax rules proposed in the Union Budget 2022 have come into effect from today. In which a rule has also been included for doubling the late fee on PAN-Aadhaar linking. From today, the late fee for PAN-Aadhaar seeding has been increased from Rs 500 to Rs 1,000.

In addition, one percent tax deduction at source (TDS) on all cryptocurrency transactions from Q2FY23 will be applicable from today. Meanwhile, from today 10 per cent TDS on monetary benefits received through sales promotion on social media influencers and doctors has also come into effect.

3 important changes in income tax rules will be implemented from today.

Double fee for PAN-Aadhaar linking

The last date for Aadhaar-PAN linking has ended on 30 June 20222. As per CBDT guidelines, if a person links his PAN with Aadhaar after 31 March 2022 to 30 June 2022, he will have to pay a late fee of ₹ 500. However, if a person fails to link PAN with Aadhaar by June 30, 2022, he will have to pay double the penalty of ₹ 1,000 for PAN-Aadhaar seeding from July 1, 2022. Now that we have reached the second quarter of FY 22-23, therefore, an individual has to pay Rs 1,000 for PAN-Aadhaar seeding.

TDS on cryptocurrency

After levying 30 per cent flat income tax on cryptocurrencies with effect from 1st April 2022, the Government of India in the Union Budget 2022 had proposed an additional TDS of 1 per cent on cryptocurrency transactions, irrespective of profit or loss to the investor. The budget proposal has become effective from today. However, an investor will be able to claim refund of TDS levied on loss transactions. Hence, cryptocurrency investors are advised to file ITR.

Changes in income tax rules for doctors

In the Union Budget 2022, the Government of India has added a new section 194R to the Income Tax Act 1961. This new section proposes 10 per cent TDS on doctors and social media influencers on profits received through sales promotion. This budget proposal has come into force from 1st July 2022 i.e. today. However, TDS will be applicable only if the cost of profit is ₹20,000 or more in a financial year.

Know what is section 194R

Tax to be deducted before grant of profit or perquisite to any person. There may be several stages in the grant of benefits/perks to the resident recipient. There cannot be a single rule to determine the stage at which tax will be deducted. It has to be understood with reference to the special benefit or perquisites to be provided to the recipient. Before reaching the point of ‘providing’ the benefit or perquisite, it has to be ensured that the tax has been deducted.

How does section 194 work?

If a private doctor is receiving samples from a pharmaceutical company and the cost of all such samples exceeds Rs 20,000 in a financial year, it will attract 10 per cent TDS. However, if the doctor is working in a private hospital, in that case 10 percent TDS will be levied on the hospital. It is important to know that section 194R does not apply to government entities. Therefore, if a doctor working in a government hospital is receiving free medical samples, he is not required to pay 10 per cent TDS.

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It is known to almost all the people that passengers can take refund if the train is cancelled. But do you know that even if you miss your train, you can claim for a refund? Yes, passengers can take back the ticket money even if the train is missed.

People search about this on the internet – Can I get refund if I missed train? Means if I have missed my train can I get refund? Since this happens to many people, this question keeps on hovering on the internet. So we are giving you the answer to this question of yours.

If you are not able to catch the train by which you are going to travel and you are not able to travel, then in this situation you can get the ticket money back. You have to claim for ticket refund. To get the refund you have to fulfill certain conditions.

TDR will have to be filled if your train is missed then you should file TDR (Ticket Deposit Receipt-TDR). You can file TDR within one hour of train departure from the charting station. Passenger can file TDR online and offline. TDR is issued by Railways for refund. Refund processing may take approximately 60 days.

How to file TDR online like this

• Log-in to your IRCTC account.
• Click on Booked Ticket History.
• Select the PNR for which TDR is to be filed and then click on File TDR.
• Select the name of the passenger from the ticket details to get TDR refund.
• Select the reason for filing TDR from the list or click on “Other” to enter another reason.
• Now click on the submit button.
• If you have selected the “Other” option then the text box will open.
• Submit it by writing the reason for the refund.
• Confirmation will appear to file TDR.
• Click on OK when all the details are correct.
• TDR Entry Confirmation page will display PNR Number, Transaction ID, Reference Number, TDR Status and Reason.

If there is an I-ticket, then TDR will not be filed online. Booking of I-ticket can be done online, but this ticket is available in the form of paper (hardcopy). I-ticket is available through courier or post. Its refund cannot be taken online. The passenger has to submit the I-ticket to the Station Master and take TDR. Then it has to be filled completely and sent to GGM (IT), Indian Railway Catering and Tourism Corporation Limited, 1st Floor, Internet Ticket Centre, IRCA Building, State Entry Road, New Delhi 110055.

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If you do not submit the life certificate by November 30, you may face problems in getting pension. Also, banks are going to remain closed for 13 days in December. Let us know the details of these rules.

PNG, CNG prices will be fixed

Mostly on the first date or first week of every month, the prices of PNG, CNG are fixed across the country. In Delhi and Mumbai, companies change the rate in the first week of the month. If we look at the trend of the last few months, the prices of CNG and PNG have increased in Delhi-NCR and Mumbai.

LPG cooking gas cylinder prices will be fixed

The prices of LPG Rasoi Gas Cylinder are fixed on the first of every month. Last month, the government had reduced the prices of 19 kg commercial cylinders. However, there was no change in the price of 14 kg domestic cylinder. This time it is expected that the government will reduce the price.

Bank will remain closed for 21 days and stock market for 13 days.

Banks are going to remain closed for a total of 13 days in December 2022. The 13 days of bank holidays include weekend holidays on the second and fourth Saturdays and all Sundays. December marks Christmas, the last day of the year and Guru Gobind Singh’s birthday, on which banks are closed. All private and public banks in India remain closed on holidays. However, some banks observe local festivals and holidays and remain closed on that day in the state. When the banks are closed, you can do most of your work through online banking.

4. Pensioners have to submit life certificate by 30th November

Pensioners have to submit their annual life certificate by 30 November 2022 to continue receiving pension. Pensioners can submit the Life Certificate by visiting the branch in person or online. They will have to complete this work by 30 November. So that, their pension does not stop and they do not have to worry about the subsequent hassles.

The post Financial Rules from 1st December: Many rules related to your daily life will change from 1st December. first appeared on Rightsofemployees.com.

After the start of the second quarter of the financial year 2022-23, three major changes in the income tax rules proposed in the Union Budget 2022 have come into effect from today. In which a rule has also been included for doubling the late fee on PAN-Aadhaar linking. From today, the late fee for PAN-Aadhaar seeding has been increased from Rs 500 to Rs 1,000.

In addition, one percent tax deduction at source (TDS) on all cryptocurrency transactions from Q2FY23 will be applicable from today. Meanwhile, from today 10 per cent TDS on monetary benefits received through sales promotion on social media influencers and doctors has also come into effect.

3 important changes in income tax rules will be implemented from today.

Double fee for PAN-Aadhaar linking

The last date for Aadhaar-PAN linking has ended on 30 June 20222. As per CBDT guidelines, if a person links his PAN with Aadhaar after 31 March 2022 to 30 June 2022, he will have to pay a late fee of ₹ 500. However, if a person fails to link PAN with Aadhaar by June 30, 2022, he will have to pay double the penalty of ₹ 1,000 for PAN-Aadhaar seeding from July 1, 2022. Now that we have reached the second quarter of FY 22-23, therefore, an individual has to pay Rs 1,000 for PAN-Aadhaar seeding.

TDS on cryptocurrency

After levying 30 per cent flat income tax on cryptocurrencies with effect from 1st April 2022, the Government of India in the Union Budget 2022 had proposed an additional TDS of 1 per cent on cryptocurrency transactions, irrespective of profit or loss to the investor. The budget proposal has become effective from today. However, an investor will be able to claim refund of TDS levied on loss transactions. Hence, cryptocurrency investors are advised to file ITR.

Changes in income tax rules for doctors

In the Union Budget 2022, the Government of India has added a new section 194R to the Income Tax Act 1961. This new section proposes 10 per cent TDS on doctors and social media influencers on profits received through sales promotion. This budget proposal has come into force from 1st July 2022 i.e. today. However, TDS will be applicable only if the cost of profit is ₹20,000 or more in a financial year.

Know what is section 194R

Tax to be deducted before grant of profit or perquisite to any person. There may be several stages in the grant of benefits/perks to the resident recipient. There cannot be a single rule to determine the stage at which tax will be deducted. It has to be understood with reference to the special benefit or perquisites to be provided to the recipient. Before reaching the point of ‘providing’ the benefit or perquisite, it has to be ensured that the tax has been deducted.

How does section 194 work?

If a private doctor is receiving samples from a pharmaceutical company and the cost of all such samples exceeds Rs 20,000 in a financial year, it will attract 10 per cent TDS. However, if the doctor is working in a private hospital, in that case 10 percent TDS will be levied on the hospital. It is important to know that section 194R does not apply to government entities. Therefore, if a doctor working in a government hospital is receiving free medical samples, he is not required to pay 10 per cent TDS.

The post Income Tax Big Rules Change: Many rules of income tax changed from today, you need to know; Otherwise… first appeared on Rightsofemployees.com.

After the start of the second quarter of the financial year 2022-23, three major changes in the income tax rules proposed in the Union Budget 2022 have come into effect from today. In which a rule has also been included for doubling the late fee on PAN-Aadhaar linking. From today, the late fee for PAN-Aadhaar seeding has been increased from Rs 500 to Rs 1,000.

In addition, one percent tax deduction at source (TDS) on all cryptocurrency transactions from Q2FY23 will be applicable from today. Meanwhile, from today 10 per cent TDS on monetary benefits received through sales promotion on social media influencers and doctors has also come into effect.

3 important changes in income tax rules will be implemented from today.

Double fee for PAN-Aadhaar linking

The last date for Aadhaar-PAN linking has ended on 30 June 20222. As per CBDT guidelines, if a person links his PAN with Aadhaar after 31 March 2022 to 30 June 2022, he will have to pay a late fee of ₹ 500. However, if a person fails to link PAN with Aadhaar by June 30, 2022, he will have to pay double the penalty of ₹ 1,000 for PAN-Aadhaar seeding from July 1, 2022. Now that we have reached the second quarter of FY 22-23, therefore, an individual has to pay Rs 1,000 for PAN-Aadhaar seeding.

TDS on cryptocurrency

After levying 30 per cent flat income tax on cryptocurrencies with effect from 1st April 2022, the Government of India in the Union Budget 2022 had proposed an additional TDS of 1 per cent on cryptocurrency transactions, irrespective of profit or loss to the investor. The budget proposal has become effective from today. However, an investor will be able to claim refund of TDS levied on loss transactions. Hence, cryptocurrency investors are advised to file ITR.

Changes in income tax rules for doctors

In the Union Budget 2022, the Government of India has added a new section 194R to the Income Tax Act 1961. This new section proposes 10 per cent TDS on doctors and social media influencers on profits received through sales promotion. This budget proposal has come into force from 1st July 2022 i.e. today. However, TDS will be applicable only if the cost of profit is ₹20,000 or more in a financial year.

Know what is section 194R

Tax to be deducted before grant of profit or perquisite to any person. There may be several stages in the grant of benefits/perks to the resident recipient. There cannot be a single rule to determine the stage at which tax will be deducted. It has to be understood with reference to the special benefit or perquisites to be provided to the recipient. Before reaching the point of ‘providing’ the benefit or perquisite, it has to be ensured that the tax has been deducted.

How does section 194 work?

If a private doctor is receiving samples from a pharmaceutical company and the cost of all such samples exceeds Rs 20,000 in a financial year, it will attract 10 per cent TDS. However, if the doctor is working in a private hospital, in that case 10 percent TDS will be levied on the hospital. It is important to know that section 194R does not apply to government entities. Therefore, if a doctor working in a government hospital is receiving free medical samples, he is not required to pay 10 per cent TDS.

The post Income Tax Rules Change: Big news! Many rules of income tax changed from today, you need to know; Otherwise… first appeared on Rightsofemployees.com.

There will be a change in the interest rates of the Small Savings Scheme. The interest rates of the Small Savings Scheme are reviewed after every 3 months by the Central Government. So the government can soon increase the amount of interest received in PPF, Senior Citizen Savings Scheme, Sukanya Samriddhi Yojana. New interest rates can be announced by the central government on 30 September, which can be applicable from 1 October.

Tokenization system will be implemented

RBI is bringing card-on-file tokenization (CoF Card Tokenization) rules from October 1. The Reserve Bank of India says that after the change in the tokenization system, cardholders will get more facilities and security. The purpose of implementing the tokenization system is to prevent online banking fraud.

Rates of gas cylinders may be reduced

On the first of every month, the rates of gas cylinders are reviewed. This time it is expected that the prices of gas cylinders can be cut. Due to the softening of natural gas prices, it may see a decline.

There will be a change in the rules of demat account, if you also invest money in the stock market, then from September 30, there is going to be a big change in the rules. Demat account holders have to complete two-factor authentication by September 30, 2022, only after which you will be able to log in to your account. If you do not do this then your account will not be opened.

There will be a change in the rules of Atal Pension Yojana, apart from this, customers paying tax from 1st date will not be able to take advantage of Atal Pension Yojana. Talking about the current rules, at this time any person from 18 years to 40 years can take advantage of this facility. Whether he pays tax or not…

The post New Rules from October 1: Many rules will change from the 1st date, will directly affect your pocket, know today… first appeared on Rightsofemployees.com.