7 big changes from today, which will affect the pocket: Commercial cylinders are cheaper, bikes become expensive; Aadhar-PAN link and tax-related rules also changed

Posted on 1st Jul 2022 by rohit kumar

From July 1, i.e. today, many changes have taken place across the country. These will have a direct impact on your pocket and life. That's why it is important that you already know the rules. Commercial gas cylinders have become cheaper today. On the other hand, for linking Aadhaar-PAN, a charge of Rs 1000 will have to be paid. We are telling you about 7 such changes ...

 

1. Commercial Gas Cylinder Cheap

 

The prices of commercial gas cylinders have been cut. The price of a 19 kg commercial cylinder in Delhi has come down from Rs 2219 to Rs 2021. Similarly, against Rs 2322 in Kolkata, now this cylinder will be available for Rs 2140. The price in Mumbai has come down from Rs 2171.50 to Rs 1981 and in Chennai from Rs 2373 to Rs 2186.

 

Accordingly, the rate of the gas cylinder has come down by Rs 198 in Delhi, Rs 182 in Kolkata, Rs 190.50 in Mumbai, and Rs 187 in Chennai. In June last month, 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.

 

2. Now Rs 1000 will be charged for linking Aadhaar-PAN

 

To link PAN with Aadhaar from today i.e. July 1, you will have to pay Rs 1,000. Till June 30, this work used to be done for Rs 500. Now you have to pay Rs 500 more.

 

3. TDS on transactions done for cryptocurrencies

 

From now on, if the transaction done for cryptocurrencies exceeds Rs 10,000 in a year, then it will be charged 1%. Income Tax Department has notified the disclosure norms of TDS for Virtual Digital Assets (VDA). All NFT or digital currencies will come under its ambit.

 

4. Demat Account Without KYC Will Be Deactivated

 

The last date for conducting KYC for Demat and trading accounts was June 30, 2022. In such a situation, if you have not done KYC of the account, then it will be deactivated. With this, you will not be able to trade in the stock market. Even if a person buys shares of a company, then these shares will not be able to transfer to the account.

 

5. Buying a motorcycle is expensive

 

Two-wheelers will become expensive from July 1. Hero MotoCorp has decided to increase the prices of its brands by up to Rs. Hero MotoCorp has increased the prices due to rising inflation and a rise in raw material prices.

 

6. 10% TDS to be paid on gifts

 

Gifts received from businesses will have to be tax deducted at source (TDS) at the rate of 10%. This tax will be levied on doctors and social media influencers. However, social media influencers will be taxed only if they keep marketing materials from a company. If they return it, then TDS will not be charged.

 

7. Will have to pay more toll

 

Toll rates have been increased on the Delhi-Dehradun Highway (NH 58) from 1 July (noon on Thursday). The toll rate was not increased in the lockdown. From July 1, those passing through here will have to bear an additional cost ranging from Rs 5 to Rs 80.

 

Also Read: New GST Rates: From July 18, packaged flour, milk and cheese will be expensive, GST on private beds in hospitals too