Seven rules related to financial transactions are changing from July 1, i.e. Friday. These include TDS on transactions of cryptocurrencies, Aadhaar-PAN card linkage and Demat KYC etc. Apart from these, there may be revision in gas prices and many other changes too. These changes will have a direct impact on your pocket.
1,000 fee on Aadhar card-PAN link
Aadhar and PAN card linking will now cost Rs 1,000. Till now it was Rs 500. However, it was free until March. PAN will become inoperative if it is not linked by March 2023. You can link it yourself by visiting the website of Income Tax Department.
Demat account will be deactivated
If you have not done KYC of Demat account by 30th June, then it will now become inactive. That is, you will not be able to buy and sell in the stock market. Even if you buy the share, it will not be transferred to your account. This transfer will happen only after the KYC is completed.
Now one percent TDS on cryptocurrencies
From July 1, TDS of one per cent will have to be paid on the transactions of cryptocurrencies. According to the Income Tax Department, it will include all types of NFTs and digital currencies. It was announced in the budget this year.
Buying two wheelers and AC will be expensive
Prices of two wheelers will increase from July 1. Hero Moto Corp is going to increase the price by up to Rs 3,000. Other companies are also ready to increase prices. Buying 5 star AC will become costlier by 10 percent.