5 big income tax rule changes effective from today 1 april 2022
Income from transactions in virtual digital assets will attract a tax of 30 percent From April 1
The revised tax filing window will remain open for two years from the year of assessment in case of less filing of taxes.
PF payments of more than Rs 2.5 lakh per year be taxed.
The CBDT has issued new guidelines that outline how the interest on an employee's PF contribution that exceeds a specific level is taxed.
Loss from the transfer of virtual digital assets (VDA) will not be allowed to be set off against the income arising from the transfer of another VDA.
For eg you make a gain of Rs 100 on Bitcoin while you incur a loss of Rs 70 on Dogecoin
your tax liability will be on the earning of Rs 100 and not on your net profit of Rs 30 (after eliminating your loss).
State government employees will now be able to claim tax benefit of 14 percent on the National Pension System (NPS)
under Section 80CCD(2) made by their employer up to 14% of their basic salary and dearness allowance.
For more details