Changes From 1 April 2022: From PF, property tax, gas cylinder price, medicine to cryptocurrency, mutual funds; all you need to know!

Changes From April 1st: The new financial year is going to start on April 1. With the new financial year, some new rules will be implemented in the country. These changes will have an impact on everyone from common people to businessmen. Here is all you need to know!

1. COVID restrictions will end
The covid-19 restriction that is implemented in the country will get end tomorrow.

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2. Linking PAN with Aadhaar 
The linkage of Permanent Account Number (PAN) with Aadhaar will be mandatory from tomorrow. Otherwise, after March 31, Rs 500 penalty will be implemented for the linkage.

3. PF will be taxed!
According to the notification of the Central Board of Direct Taxes, interest on the PF contribution of an employee above a certain limit will be taxed from April 1, 2022. The tax will have to be paid if the PF contribution is more than Rs 2.5 lakh in a year.

4. Tax on cryptocurrencies
From April 1, the government will impose new rules on virtual digital assets (VDA) or cryptocurrencies. According to the rule, profits made on crypto assets will attract 30% tax and 1% TDS.

5. Homebuyer will get tax exemption
The difficulties of the common man may increase from April 1 as buying a house will also become expensive. The central government is going to stop giving tax exemptions to home buyers under section 80EEA. Apart from that 1% Metro Cess will be applicable to buying a house in Mumbai.

6. GAS prices will increase
The prices of petrol, diesel, and LPG are going to increase from April 1. The price of natural gas price is expected to rise from $2.9 to $5.93.

7. vehicles are going to be expensive
Auto companies will increase the price of vehicles from April 1, 2022. Also, the scrappage policy will be applicable for government vehicles from tomorrow.

8. Medicines will become expensive
It is expected that the prices of more than 800 medicines will increase from tomorrow. This may include pain killers, antibiotics, anti-virus, etc. The prices of selected medicines are going to increase by more than 10 percent.

9. Rules for investing in mutual funds
There will be a lot of changes in the rules of mutual funds from April 1. According to the new rule, MF payment will be done only in digital mode and will not be able to use cheques. Also, transactions in mutual funds will not be done through the pool account of brokers or distributors. The appointment of a Chief Risk Officer will be applicable to every Mutual Fund.