What are The Income Tax Rules Changes from July 1, 2022_Academy tax4wealth

1
7/11/22, 351 PM
What are The Income Tax Rules Changes from July
1, 2022 Academy Tax4wealth
Courses
Categories
Blog
Forums
CA Exam Test Series
LOGIN
What are The Income Tax Rules Changes from July
1, 2022
Search Blog
Latest Post
What are The Income Tax Rules Changes from July
1, 2022 Penalty for Late Filing TDS
Return Tally Course Online 2022 - Fees,
Duration, Benefits, Eligibility, More Job
Oriented Professional Courses After 12th
Commerce Career as an Income Tax Inspector
Job Oriented Online Accounting Courses After
Graduation
11 Jul 2022
0
Admin Tax4wealth
What are The Income Tax Rules Changes from July
1, 2022
The rules are changed from time to time by the
government in the context of changing economic
conditions, accurate monitoring system and new
tax reforms, future requirements. Some income
tax rules have also been changed by the
Government of India from July 1, 2022. Which is
linked to the general public and the digital
economy of the future. Everyone should be aware
of these changes. Let us know about these new
rules of change related to income tax. Also
read, A Complete Analysis of Section 194R of
Income Tax. Contents included in the blog
1. Three main changes were announced in the budget
Your experience on this site will be improved by
allowing cookies.
Allow cookies
2
7/11/22, 351 PM
What are The Income Tax Rules Changes from July
1, 2022 Academy Tax4wealth
2. If you have not been able to link PAN-Aadhaar,
till now you will have to pay double the
fine Blog Categories.
Courses Categories Blog 3. Now one percent TDS
will have to be paid on crypto currency
transactions
Forums
CA Exam Test Series
LOGIN
GST Certification Courses
4. TDS of 10 on benefits of doctors and social
media influencers
Salary class
5. Conclusion
Income Tax Saving
6. FAQs
Stock Market Courses
1. Three main changes were announced in the
budget Significantly, in the Budget 2022-23,
Union Finance Minister Nirmala Sitharaman had
announced about three main new rules to be
implemented from July 1, 2022. Now three new main
rules related to income tax have come into
existence from 1st July, 2022. In which the
first rule is related to the linking of Aadhaar
and PAN, which is directly related to the
general public of the country, while the second
rule is related to crypto currency, which will
affect those investing in crypto currency. The
third new rule is related to TDS, which pertains
to doctors and social media influencers.
Company Incorporation
Investment Planning
Startup
Excel Certification course
Income Tax Certification Course
Indian Economy
To know the Penalty for Late Filing TDS Return.
?? Click here
Trademark and Copyright Certification Course
2. If you have not been able to link PAN Aadhar,
till now you will
Company Law Certificate Course
have to pay double the fine According to the
instructions of the government, by June 30, 2022,
all people had to get PAN linked with Aadhaar.
Earlier, where the fine was Rs 500 till June 30,
2022. Now from July 1, 2022, the penalty for
linking PAN with Aadhaar will be Rs 1000.
MSME Certification Course
Online Accounting Courses
Mutual Fund Courses 3. Now one percent TDS will
also have to be paid on crypto currency Company
Secretary Courses
transactions Earlier, the Government of India
had implemented the rule of 30 percent income
tax on transactions on crypto currency from 1
April, 2022. But now from July 1, 2022, the
government has implemented the rule of one
percent additional TDS on the transaction of
cryptocurrency. That is, where there will be a
transaction, TDS will also have to be deducted.
Chartered Accountant Course Online
Cost Management Accounting Course CA Exam Test
Series
TDS of 1 per cent will be deducted from July 1,
2022 on payment of more than Rs 10,000 for
crypto currency in a year. But it has to be kept
in mind that TDS will be deducted for all,
whether profit or loss, for those transacting in
crypto. It is a different fact that those who
will suffer loss in crypto currency transaction
can claim for refund. But for this refund,
cryptocurrency traders will have to file an
income tax return. Also, if the buyer does not
have PAN at the time of transfer of
cryptocurrency, tax at the rate of 20 per cent
will have to be paid. If the buyer has not filed
income tax return, then TDS at the rate of 5 per
cent will have to be paid. Through TDS on crypto
currency, the government is trying to monitor
the transactions in crypto currency.
Also looking for taxation on crypto currency?
Click here ?? Taxation on Cryptocurrency in India.
Your experience on this site will be improved by
allowing cookies.
Allow cookies
3
7/11/22, 351 PM
What are The Income Tax Rules Changes from July
1, 2022 Academy Tax4wealth
4. 10 TDS on benefits of doctors and social
media influencers Popular Tags. This rule is the
most recent of the amended rules related to
income tax
Courses
Categories
Blog
Forums
CA Exam Test Series
LOGIN
which started from July 1, 2022. According to
this rule, TDS of 10 percent will have to be
paid on the benefits received by doctors and
social media influencers. But it is worth noting
that this rule will be applicable only to those
doctors and influencers whose profit in a year is
more than Rs 20,000. Also, with effect from July
1, 2022, 10 per cent TDS will be deducted from
doctors and social media influencers on receiving
gifts through business. That is, doctors will
also have to pay TDS on gifts received from
pharmaceutical companies and medical
representatives.
gst
stock market
Income tax
Tax
TDS
T4W
income tax certification course
online accounting courses

• Conclusion
• The government is considering the linking of
  Aadhaar and PAN as a mandatory fact to keep the
  identity of the taxpayers accurate. Its really
  important to Know The Consequences of Not Linking
  a PAN Card with An Aadhaar Card. At the same
  time, the government also wishes to have a
  watchful monitoring of cryptocurrency. That's why
  the government is bringing TDS system on trading
  of cryptocurrencies. The government is also
  trying to monitor the earnings of doctors and
  social media influencers. Therefore, TDS system
  was imposed on them too. It is better that the
  general public should be aware of the new changes
  especially regarding income tax.
• The government needs resources for the operation
  of public welfare schemes, while economic
  monitoring is also the need of the hour. So the
  government brings new new rules with time.
  Citizens should understand those new rules and
  ensure the payment of taxes on time.
• FAQs
• Ques - What is TDS?
• TDS means tax is deducted at source. That is, tax
  is deducted at the place of earning itself and
  deposited with the government in the name of the
  earner. To learn more about the TDS or you want
  to know the procedure, how to file TDS return
  online join Income Tax Certification Course.
• Ques- Why is the government promoting the TDS
  system?
• The government is trying to increase the scope of
  its monitoring by increasing the TDS system. in
  order to discourage the attempts of tax evasion.
• Section 80C is considered the popular section
  among the taxpayers as it can reduce taxable
  income with the help of tax-saving investments.
  click here to know the Deductions under Income
  Tax .
• Ques- Why is the government showing so much
  commitment towards linking Aadhaar and PAN?
• The government is trying to keep a close watch on
  the personal identity of the citizens and the
  status of tax payment by them so that adequate

resources for public welfare schemes can be
obtained from revenue income.
Your experience on this site will be improved by
allowing cookies.
Allow cookies
4
7/11/22, 351 PM
What are The Income Tax Rules Changes from July
1, 2022 Academy Tax4wealth
4. What is Crypto Currency? Cryptocurrency is a
type of digital currency, which is managed by a
Courses
Categories
Blog
Forums
CA Exam Test Series
LOGIN

• decentralized system. In this, every transaction
  is verified by digital signature and its record
  is kept with the help of cryptography.
• Why is the government bringing TDS system even on
  cryptocurrency transactions?
• India's economy is going digital. In the future,
  the business of cryptocurrency is going to
  increase in India as well. The government is
  also bringing it under the purview of TDS system
  to monitor the business of cryptocurrency.
• What is the government's objective to introduce
  TDS system on Social Media Influencers and
  Doctors?
• Earnings of Social Media Influencers is a new
  fact whose data is not systematically with the
  government. For accurate monitoring of the
  earnings of doctors and social media influencers,
  the government is bringing them under the TDS
  system.
• What means of social media influencer?
• Influencers in social media are people who have
  built a reputation for their knowledge and
  expertise on a specific topic. They make regular
  posts about that topic on their preferred social
  media channels and generate large followings of
  enthusiastic, engaged people who pay close
  attention to their views. Brands love social
  media influencers because they can create trends
  and encourage their followers to buy products
  they promote.
• Also read, Section 19 4Q Tax deduction on the
  purchase of goods and FAQs.

Share this news
BY Admin Tax4wealth
Related News
12 Jul 2021 0 Admin Your experience on this site
will be improved by allowing cookies.
Tax4wealth ? 23 Jun 2021 ? 0 ? Admin
Allow cookies
5
7/11/22, 351 PM
What are The Income Tax Rules Changes from July
1, 2022 Academy Tax4wealth
Tax4wealth Best income tax courses for beginners
in India Section 194Q Tax
Courses
Categories
Blog
Forums
CA Exam Test Series
LOGIN
deduction on the purchase of goods and FAQs
Read More
Read More
Post Comments.
Login to Post a Comment
No comments yet, Be the first to comment.
Get In Touch
Trending Courses
Need some help?
We take our mission of increasing global access
to quality education seriously.
Headquarter Under DFS Building, Annexe Building,
Jeevan Vihar, Sansad Marg, New Delhi, Delhi
110001
Tally Courses Online
Terms and Conditions
How to File ITR Online-Income Tax Retruns
Privacy and Refund Policy
Subscribe Now
Email Address.
Contact Us
Certified Corporate Accountant Course
About Us
Branch O?ce Shop No. 21,22, J.J. Complex, Patna,
Bihar 800001
Connect with us on Tax4Wealth
Certificate Verification
Leran How to File TDS Returns Online
GST Return Filing Course With Practical Examples
info_at_tax4wealth.in
9560079055
Mega GST Certification Course
011-49872888
Let's talk
Copyright 2021 tax4wealth All right
reserved.
Your experience on this site will be improved by
allowing cookies.
Allow cookies