6 New Changes in Income Tax effective from 1 April
6 New Income Tax Rule - As started the new financial Year 2022-2023 on April 1. Some big changes have been made by the government on income tax rules, Here are the 6 changes of Income-tax Rules which are effective from 1 April 2022.
- Taxation on virtual digital assets
- Higher tax benefit on NPS
- Clarity on EPFO tax break-up
- Tax relief on Covid-19 treatment expenses
- Updated income tax returns
- No more deduction under section 80EEA from April 1, 2022
Key changes to watch out for in 2022-23 include the tax on cryptocurrency and tax relief on Covid-19.
Source- Money Control
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